GrandVision achieves preliminary revenue growth of 8.8% at constant exchange rates in FY19 and 10.7% in 4Q19

Schiphol, the Netherlands – 23 January 2020. GrandVision NV (EURONEXT: GVNV) publishes its preliminary and unaudited 4Q and FY19 revenue and comparable growth update.

GrandVision achieved revenue growth at constant exchange rates of 8.8% for the full year 2019 with organic growth of 5.2%. Comparable growth accelerated from 3.4% in 2018 to 4.1% in 2019, driven by a strong performance across all segments and product categories. Acquisitions added 3.6% to revenue growth including Optica2000 in Spain and McOptic in Switzerland. E-commerce sales grew by 66% as a result of Lenstore's ongoing growth, including the expansion into France and Italy, the acquisition of Charlie Temple in the Netherlands as well as growth in our banners.

In the fourth quarter, revenue growth at constant exchange rates was 10.7%, with organic and comparable growth of 6.0% and 4.6%, respectively.

The G4 segment achieved 3.7% comparable growth for the year (4.4% in 4Q19) with an especially strong performance in the Benelux, where our business fully recovered following a challenging year of management transition. France and Germany also had a strong year, while our business in the United Kingdom was affected by a difficult general retail environment.

In the Other Europe segment, comparable growth was 2.8% in FY19 and 2.5% in 4Q19 with a strong year-end performance in Finland and across Eastern Europe.

In the Americas & Asia segment, comparable growth was 8.8% in FY19 and 11.1% in 4Q19. The strong fourth quarter performance was driven by strong growth in Russia and Turkey.

Attachment

GrandVision FY19 Trading Update

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