GrandVision N.V.


GrandVision N.V. (76.7%*), is a leading global optical retailer based at Amsterdam Airport Schiphol. The shares of the company are listed on Euronext in Amsterdam. At the end of 2017, the stock market value of HAL’s 76.7% ownership interest was € 4,157 million (2016: € 4,081 million). At the end of 2017 GrandVision was active in 44 countries and had 7,001 optical stores, of which 1,184 franchise stores (2016: 1,114) and had 31,802 full-time equivalent employees (FTE’s) (2016: 28,766). The total 2017 system wide sales (defined as sales including sales of franchise stores) amounted to € 3,784 million. Revenues as reported in the financial statements amounted to € 3,450 million (2016: € 3,316 million), a 4% increase. 

In October the increase of the shareholding from 30% to 60% in Visilab S.A. was completed. Visilab is a leading optical retailer in Switzerland and operates 98 stores across the country. The company reported 2016 revenues of CHF 173 million and has more than 900 employees. In December the acquisition of Tesco Opticians in the United Kingdom was completed. Tesco Opticians had revenues of GBP 90 million in 2016 and operated a network of 209 stores across the United Kingdom and the Republic of Ireland.

Excluding the effect of acquisitions and changes in currency exchange rates, revenues increased by 3.5%. The 2017 same store sales (defined as the sales at constant currency exchange rates of those stores, excluding franchise stores, which were both on January 1, 2016 and on December 31, 2017 part of the store network), increased by 1.8% (2016: 2.2%). The 2017 operating income (earnings before interest, exceptional and non-recurring items, taxes and amortization of intangible assets, but including amortization of software), amounted to € 415 million (2016: € 410 million).


HAL has had an ownership interest in GrandVision since 1996.



For additional information on GrandVision please refer to the company's annual report and its website.


* HAL stake as per the 2018 H1 report of HAL Holding N.V.

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