Schiphol,
Fourth Quarter and
Following a strong revenue recovery in the third quarter,
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
For the full year 2020,
Attachment
- GrandVision Press Release
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