GrandVision reports 1Q21 revenue of €899 million and adjusted EBITA of €79 million
23 Aprile 2021 - 7:00AM
GrandVision reports 1Q21 revenue of €899 million and adjusted EBITA
of €79 million
GrandVision reports 1Q21 revenue of €899 million and
adjusted EBITA of €79 million
Schiphol, the Netherlands – 23 April 2021.
GrandVision N.V. publishes its First Quarter 2021 trading
update.Due to the exceptional nature of the year 2020, GrandVision
will also include in the present press release
comparisons versus 2019.Highlights•
GrandVision continues to show resilience in the first quarter
despite the most recent COVID-19 related
government restrictions in Europe and Latam• At constant
exchange rates, revenue declined by -0.7% compared with 1Q20 to
€899 million from €926 million in 1Q20 (1Q19: €974m)•
Comparable revenue declined by -1.5% versus 1Q20 and on a 2019
basis, -10.8% versus 1Q19• Adj. EBITA increased by 98.1% at
constant exchange rates to €79 million from €41 million in 1Q20
(1Q19: €107m). Continued cost discipline, structural
improvements in certain territories and improved product and price
mix contributed to the underlying performance• Adj. EBITA
margin at 8.8%, +437bps versus 1Q20 and -219bps versus 1Q19•
Approximately 95% of our store network was open at the end of March
2021. Temporary store closures from ongoing government
restrictions impacted outlets, mainly in shopping malls. France was
the most affected with around 300 stores temporary closed
during the period• Net debt at €569 million at the end of March
2021 (FY20: €539m; March 2020: €755m)• European launch of Karün, a
100% sustainable brand using recycled products from Patagonia,
Chile• GrandVision joined the United Nations Global Compact
initiative• GrandVision to maintain its dividend proposal of €0.35
per share for the fiscal year 2019 at the Annual
General Meeting on 23 April 2021
- GrandVision Press Release