Annual Report 2017

Group performance

GrandVision reported €3.5 billion in revenue and €552 million in adjusted EBITDA for 2017. Revenue and EBITDA growth were driven by comparable and revenue growth, acquisitions and organic network expansion as well as the continued deployment of our global capabilities across our business.

in millions of EUR
(unless stated otherwise)

FY17

FY16

Change versus prior year

Change at
constant FX

Organic
growth

Growth from acquisitions

Revenue

3,450

3,316

4.0%

5.6%

3.5%

2.1%

Comparable growth (%)

1.8%

2.2%

Adjusted EBITDA

552

537

2.7%

4.0%

2.0%

2.0%

Adjusted EBITDA margin (%)

16.0%

16.2%

-21bps

Net result

249

252

-1.2%

Net result attributable to equity holders

228

231

-1.5%

Adjusted earnings per share, basic (in €)

0.97

0.96

0.0%

Earnings per share, basic (in €)

0.90

0.92

-1.7%

Number of stores (#)

7,001

6,516

7.4%

System wide sales

3,784

3,657

3.5%

Revenue grew by 5.6% at constant exchange rates to €3,450 million, driven by comparable growth of 1.8%, new store openings and a 2.1% contribution from acquisitions. Adjusted EBITDA increased by 4.0% at constant exchange rates to €552 million, while net result decreased by 1.2% to €249 million. System wide sales, which reflects the retail sales of GrandVision’s own stores and those of its franchises, increased by 3.5% to €3,784 million.