Revenue development

Revenue grew by 3.5% to €3,316 million in 2016 (2015: €3,205 million). At constant exchange rates, revenue increased by 6.5% as foreign exchange fluctuations had a negative effect of 3.1% on revenue, mainly due to the devaluation of the British Pound and emerging market currencies.

Organic growth of 3.5%, was driven by comparable growth of 2.2% as well as store openings across our business. Acquisitions contributed an additional 3.1% to revenue growth.

The G4 segment delivered revenue growth of 2.6% at constant exchange rates, driven by comparable growth of 1.5% and continued store network expansion, particularly in France and Germany. In Other Europe, revenue grew by 3.5% at constant exchange rates, with organic growth of 2.6%. The Americas & Asia segment achieved revenue growth of 36.2% at constant exchange rates and organic growth of 13.0%. Revenue growth in the segment also included a 23.2% effect from acquisitions completed during 2015 and 2016.

Revenue growth was driven by all three product categories: prescription glasses, contact lenses and sunglasses. Among these categories, contact lenses showed the highest growth rate during the year, benefiting from increasing consumer demand for daily disposable contact lenses. The proportion of sunglasses in the overall revenue mix continued to increase in 2016 as we further rolled out the Solaris sunglass concept.

Sales of prescription glass sales grew as we continued to strengthen our commercial proposition during the year, enabling us to deliver on our promise of providing high quality eye care at affordable prices. We saw higher conversion rates in our stores as we shared the benefits of global purchasing and category management with our customers, helping us further enhance the competitiveness of our offers.

Revenue development

in millions of EUR
(unless stated otherwise)

2016

2015

Change
versus
prior year

Change at
constant FX

Organic
growth

Growth from acquisitions

G4

1,969

1,968

0.1%

2.6%

2.1%

0.5%

Other Europe

907

883

2.7%

3.5%

2.6%

0.9%

Americas & Asia

440

354

24.3%

36.2%

13.0%

23.2%

Total

3,316

3,205

3.5%

6.5%

3.5%

3.1%