GrandVision Retail Holding B.V.
GrandVision reports comparable revenue growth of 0.8% in 4Q20
Schiphol, the Netherlands – 22 January 2021.
GrandVision NV (EURONEXT: GVNV) publishes its preliminary and unaudited 4Q and FY20 revenue and comparable growth update.
Fourth Quarter and Full Year Development
Following a strong revenue recovery in the third quarter, GrandVision entered the fourth quarter with good momentum. The impact of the COVID-19 second wave subsequently built up through the quarter and slowed our progress resulting in 4Q revenue growth of 1.1% at constant exchange rates. Organic and comparable revenue growth for the quarter were 0.7% and 0.8% respectively.
In the fourth quarter, we continued the strong EBITA momentum from the previous months. However, the increased restrictions in more and more countries due to the second wave in November and December resulted in a deceleration in the EBITA growth compared with the previous quarter. In the fourth quarter profit growth exceeded revenue growth.
Revenue at constant exchange rates declined by 12.2% for the full year with organic and comparable decreases of 13.6% and 14.1% respectively, driven by the COVID-19 enforced temporary store closures in the first half, as well as an overall reduction in footfall through the year. Total e-commerce sales grew 85%, while e-commerce sales generated by our retail brands more than doubled compared to the prior year. Acquisitions made in 2019, including Optica2000 in Spain and McOptic in Switzerland, continued to have a positive impact this year and added 1.4% to revenue growth.
For the full year 2020, GrandVision is expecting an adjusted EBITA margin of approximately 7.5%.
Attachment
About Globenewswire
Subscribe to releases from Globenewswire
Subscribe to all the latest releases from Globenewswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Globenewswire
Novartis International AG2.3.2021 15:27:56 CET | Press release
Novartis shareholders approve all resolutions proposed by the Board of Directors at the Annual General Meeting
Elixxer Ltd.2.3.2021 15:11:25 CET | Press release
Elixxer Ltd. Announces Revised Debt Settlement Transactions
project442.3.2021 15:01:43 CET | Press release
project44 Unveils Supply Chain Visibility Conference Transform 2021
LIDDS AB2.3.2021 14:51:43 CET | Press release
LIDDS enters R&D agreement with potential exclusive, global product license option
Aalborg Boldspilklub A/S2.3.2021 14:50:12 CET | Pressemeddelelse
Årsrapport 2020 for Aalborg Boldspilklub A/S
DLR Kredit A/S2.3.2021 14:40:52 CET | Pressemeddelelse
DLR Kredit A/S - endelige obligationsvilkår (DK0006352513 - 1% B 2043)
ISW Holdings, Inc.2.3.2021 14:31:41 CET | Press release
ISW Holdings Triples Active Cryptocurrency Mining Fleet with Additional POD5IVE Datacenters
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom