SCHIPHOL, The Netherlands—GrandVision NV (EURONEXT: GVNV) reported its revenues for the first nine months of its fiscal year rising by 15.5 percent, or 14.7 percent at constant exchange rates, to reach €2,419 million. Its revenues for the Q3, three-month period rose 12.7 percent, or 13.2 percent at constant exchange rates to €808 million.

The total number of stores operated by the retail group grew to 5,922 at the end of the nine-month period, in contrast to 5,814 at year-end 2014.

The company stated that the group’s organic revenue growth of 6.0 percent came primarily from comparable growth rates of 4.7 percent, compared to 3.8 percent in the same nine month period in 2014. Acquisitions had an impact on revenue of 8.7 percent.

Adjusted EBITDA (i.e. EBITDA before non-recurring items) grew by 16.7 percent, or 15.4 percent at constant exchange rates to €400 million in the nine months of 2015, while adjusted EBITDA in the three-month period rose 15.7 percent, or 14.9 at constant exchange rates, to €142 million.
Capital expenditure not related to acquisitions was €34 million in Q3 2015 and €98 million in the nine-month period, broadly in-line with the previous year. The majority of the capex was directed toward store openings, maintenance and refurbishments.

GrandVision’s optical retail banners operate in 43 countries across Europe, Latin America, the Middle East and Asia. GrandVision serves its customers in over 5,900 stores and with more than 26,700 employees.

In October of this year, as VMail reported, GrandVision announced it had signed a binding agreement to acquire For Eyes Optical, which would mark its entry into the U.S. market. The closing of the transaction, which is subject to customary conditions, is expected to take place in the fourth quarter of 2015.