GrandVision reports 2020 Revenue of €3,481 million and adjusted EBITA of €266 million
26 Febbraio 2021 - 07:00AM
GrandVision reports 2020 Revenue of €3,481 million and adjusted
EBITA of €266 million
GrandVision reports 2020 Revenue
of €3,481 million and adjusted EBITA
of €266 million
Schiphol, the Netherlands - 26 February 2021.
GrandVision NV (EURONEXT: GVNV) publishes Full Year and Fourth
Quarter 2020 results.
Full Year 2020 Highlights
- Revenue decreased by 12.2% at constant
exchange rates to €3,481 million (FY19: €4,039
million) with a comparable revenue decline of
14.1%
- E-commerce sales grew by 85% while retail
brands e-commerce sales more than doubled compared to the prior
year
- Adjusted EBITA (i.e. EBITA
before non-recurring items) decreased by 43.1% at constant exchange rates
to €266 million (FY19: €475 million)
- Adjusted EBITA margin fell 411bps to 7.7%.
Strong commercial execution, structural improvements, and cost
discipline were more than offset by limited operating leverage due
to COVID-19 related temporary store network closures
- Net result was -€45 million for the
FY20, with a strong recovery from
-€212 million in the 1H 2020 to EUR 167 million
in 2H 2020
- Adjusted EPS of -€0.07 (FY19: €0.91)
- Net debt decreased to €539 million at year-end
2020 (FY19: €753 million) with a 1.3x leverage ratio
- The store base decreased to 7,260 stores from
7,406 at the end of 2019
- Contingent upon the Company's financial position not being
materially worsened due to the impact of the second wave of
COVID-19 in the first quarter of 2021, GrandVision confirms its
intention to propose a dividend for the fiscal year 2019 at the
Annual General Meeting on 23 April 2021.
GrandVision will host an analyst call on 26 February 2021 at 9am
CET.
- GrandVision FY2020 Press Release