GVNV.AS - GrandVision N.V.

Amsterdam - Amsterdam Delayed price. Currency in EUR
27.62
+0.02 (+0.07%)
As of 4:31PM CEST. Market open.
Stock chart is not supported by your current browser
Previous close27.60
Open27.58
Bid0.00 x 0
Ask0.00 x 0
Day's range27.58 - 27.58
52-week range18.01 - 27.64
Volume365,345
Avg. volume429,935
Market cap7.006B
Beta (3Y monthly)0.59
PE ratio (TTM)39.97
EPS (TTM)0.69
Earnings date16 Feb 2018 - 20 Feb 2018
Forward dividend & yield0.33 (1.19%)
Ex-dividend date2019-04-30
1y target est24.45
  • Ray-Ban's Billionaire Owner Is Living the Dream
    Bloomberg

    Ray-Ban's Billionaire Owner Is Living the Dream

    (Bloomberg Opinion) -- You don’t need 20-20 vision to see who was the driving force behind EssilorLuxottica SA’s $8.1 billion agreed purchase of GrandVision NV. Leonardo Del Vecchio, the acquirer’s forceful chairman and biggest shareholder, said in the deal statement that the transaction was the realization of a long-held dream for him.Del Vecchio has already combined his Italian eye-frame designer Luxottica, home to the Ray-Ban brand and many others, with the French lens maker Essilor in a $53 billion merger. GrandVision adds a third element: An optical retail division that spans Europe, including the Vision Express chain. This gives the group even more control over the eye-care process, from manufacturing to contact with end customers. Analysts at Bloomberg Intelligence don’t, however, foresee any antitrust problems – after all, the first much bigger deal was waved through.That the GrandVision purchase was so personally dear to Del Vecchio perhaps bodes well for future harmony at EssilorLuxottica, which had been riven by tension between the 84-year-old Italian billionaire and Hubert Sagnieres, the Essilor boss and vice-chairman of the combined company. The two did reach a fragile truce back in May, but making an $8 billion purchase is certainly bold given that the original Essilor-Luxottica merger was only completed in October.The fact that the two sides have managed to patch things up to the extent they were able to negotiate this chunky deal is encouraging.EssilorLuxottica certainly seems to be Del Vecchio’s show now, perhaps inevitably given his control of a 32% stake. There are similarities with another Italian billionaire, Stefano Pessina, who built his Walgreens Boots Alliance Inc. empire through a series of deals in Europe and then the U.S. to control pharmaceutical distribution and retail.Del Vecchio and Sagnieres may have been motivated to make a move on GrandVision so quickly because of worries about potential rival interest from private equity, which is awash with cash and snapping up unloved companies. The Dutch target’s share price had languished before Bloomberg reported the deal talks earlier this month.As it is, a 33.1% premium to the closing price on July 16, the day before the talks were disclosed, looks palatable to both sides. GrandVision shares rose to 26.70 euros on Wednesday, just below the offer price of 28 euros (rising to 28.42 euros if the transaction doesn’t close within 12 months). Bernstein analysts estimate that the purchase would be 5%-6% accretive to earnings per share in 2019 and 2020, without synergies.Still, Del Vecchio and Sagnieres have a lot on their plate now. The bringing together of Essilor and Luxottica has only really just begun in earnest, in an effort to generate promised annual savings of 600 million euros. Unusually, they haven’t put a figure on the cost savings they might reap from GrandVision. More detail will come in time, perhaps at an investor day in September, but not calculating the potential benefits is disappointing.The greatest hazard is that hostilities between Del Vecchio and Sagnieres reignite. With plenty still riding on the original deal, and a chunky acquisition now in the mix, recruiting a single chief executive to oversee the integration is more important than ever. They’ll also need considerable diplomatic skills to navigate the diverse factions on the board.To contact the author of this story: Andrea Felsted at afelsted@bloomberg.netTo contact the editor responsible for this story: James Boxell at jboxell@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • EssilorLuxottica sets sights on retail dominance with $8 billion GrandVision deal
    Reuters

    EssilorLuxottica sets sights on retail dominance with $8 billion GrandVision deal

    EssilorLuxottica is buying Dutch opticians group GrandVision for up to 7.2 billion euros ($8 billion) in cash to take control of thousands of stores where it sells spectacles and lenses. The deal marks a new milestone for EssilorLuxottica, which was formed last year from the merger of French lens maker Essilor and Italian eyewear group Luxottica, but which has been hit by disputes over who should run the group. GrandVision, whose chains include Vision Express in Britain and For Eyes in the United States, would give EssilorLuxottica control of more than 7,000 outlets across the world where it already sells brands including Varilux lenses and Ray-Ban sunglasses.

  • Why GrandVision N.V.’s (AMS:GVNV) Return On Capital Employed Is Impressive
    Simply Wall St.

    Why GrandVision N.V.’s (AMS:GVNV) Return On Capital Employed Is Impressive

    Today we'll look at GrandVision N.V. (AMS:GVNV) and reflect on its potential as an investment. In particular, we'll...

  • Ray-Ban Billionaire Makes a Very Eye-Catching  Move
    Bloomberg

    Ray-Ban Billionaire Makes a Very Eye-Catching  Move

    (Bloomberg Opinion) -- The $53 billion eyewear merger of France’s Essilor and Italy’s Luxottica was a tie-up that screamed strategic logic. But it’s been thrown off course by issues beyond its industrial merits.The same danger applies to attempts by the combined company, EssilorLuxottica SA, to acquire GrandVision NV, a European optical retailer whose stores include Vision Express.To recap: Back in January 2017, the lens-maker Essilor and the frame designer Luxottica agreed to merge. Combining lenses and frames made sense. It would create more firepower for research and development, pivot the group toward more expensive prescription lenses and defend it against the twin threat of online rivals and luxury companies seeking to make more of their own branded eyewear rather than letting other firms do it for them.Unfortunately, the deal’s strategic benefits have been overshadowed by a bitter falling out between the billionaire Luxottica founder Leonardo Del Vecchio and Essilor’s boss Hubert Sagnieres, which led at one point to the threat of arbitration from Del Vecchio over alleged violations of the merger agreement.The two men have since reached a fragile truce and are looking for a single CEO to better manage their differences. But given the context of their previous rancor, the new takeover talks with GrandVision’s controlling shareholder HAL to buy its 77% stake in the group look bold.As with the first merger, the industrial logic is there. The Dutch target would add a significant optical retail presence in Europe, something that EssilorLuxottica lacks. Yet this offer has come much earlier than expected. While analysts at Bernstein speculated recently that an approach like this could be on the cards, they suggested it might be three to five years away.Essilor and Luxottica only completed their merger in October, so the integration process is just getting started. With GrandVision they would have to incorporate another large business. At 28 euros per share, the price being discussed, GrandVision would be valued at 7.1 billion euros ($8 billion). That’s just 14% of EssilorLuxottica’s market capitalization but it’s far from insignificant, especially given how much work still needs to be done on the original merger.GrandVision would further complicate the assimilation and could be another management distraction, particularly if there are competition issues to be dealt with (EssilorLuxottica already has a very dominant position in eyewear). As part of the truce, the Franco-Italian company has handed operational control to Francesco Milleri from the Luxottica side and Laurent Vacherot from the Essilor camp, while they look for a single CEO. Still, given the animosity earlier in the year, there’s no guarantee the peace will last. It’s been hard for Del Vecchio, who owns 32% of the combined group, to relinquish his grip. Should the GrandVision deal go ahead, EssilorLuxottica’s combination would become a double bet. The first is that the original merger will fulfill its strategic potential and deliver the promised yearly savings of up to 600 million euros. The second wager is that EssilorLuxottica can digest GrandVision while doing all of this. Given the peculiarities of this situation, and the personalities involved, both have long odds.To contact the author of this story: Andrea Felsted at afelsted@bloomberg.netTo contact the editor responsible for this story: James Boxell at jboxell@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • What Kind Of Investor Owns Most Of GrandVision N.V. (AMS:GVNV)?
    Simply Wall St.

    What Kind Of Investor Owns Most Of GrandVision N.V. (AMS:GVNV)?

    If you want to know who really controls GrandVision N.V. (AMS:GVNV), then you'll have to look at the makeup of its...

  • Is GrandVision N.V. (AMS:GVNV) Trading At A 34% Discount?
    Simply Wall St.

    Is GrandVision N.V. (AMS:GVNV) Trading At A 34% Discount?

    Today we will run through one way of estimating the intrinsic value of GrandVision N.V. (AMS:GVNV) by taking the...

  • What Do Analysts Think About GrandVision N.V.'s (AMS:GVNV) Earnings Trajectory?
    Simply Wall St.

    What Do Analysts Think About GrandVision N.V.'s (AMS:GVNV) Earnings Trajectory?

    The latest earnings announcement GrandVision N.V. (AMS:GVNV) released in December 2018 confirmed that the company...

  • GrandVision N.V. (AMS:GVNV): What Does The Future Look Like?
    Simply Wall St.

    GrandVision N.V. (AMS:GVNV): What Does The Future Look Like?

    Want to participate in a short research study? Help shape the future of investing tools and you could win a $250 gift...

  • Introducing GrandVision (AMS:GVNV), The Stock That Dropped 17% In The Last Three Years
    Simply Wall St.

    Introducing GrandVision (AMS:GVNV), The Stock That Dropped 17% In The Last Three Years

    As an investor its worth striving to ensure your overall portfolio beats the market average. But the risk of stock picking is that you will likely buy under-performing companies. Unfortunately, that's been the case for longer...

  • Are GrandVision N.V.'s (AMS:GVNV) Interest Costs Too High?
    Simply Wall St.

    Are GrandVision N.V.'s (AMS:GVNV) Interest Costs Too High?

    Want to participate in a research study? Help shape the future of investing tools and earn a $60 gift card! Mid-caps stocks, like GrandVision N.V. (AMS:GVNV) with a market capitalization of €4.8b, aren’t the focus of most investors w...

  • GlobeNewswire

    GrandVision nominates Rianne Meijerman to Supervisory Board

    GrandVision N.V. (GVNV.NX) today announced the nomination of Rianne Meijerman as an independent member of the company`s Supervisory Board. Rianne Meijerman, a Dutch national, is a senior leader at Royal Philips, where she currently holds the position of Head of Marketing Transformation. Prior to joining Royal Philips, she worked at A.S. Watson Group, the world`s largest international health and beauty retailer, in several commercial and procurement leadership roles.

  • GlobeNewswire

    GrandVision publishes Annual Report 2018 and AGM Convocation

    Schiphol - 8 March 2019. GrandVision N.V. (EURONEXT: GVNV) today announced that it has published its Annual Report 2018 including the Financial Statements 2018. The Annual Report is available for download ...

  • Is GrandVision N.V. (AMS:GVNV) A High Quality Stock To Own?
    Simply Wall St.

    Is GrandVision N.V. (AMS:GVNV) A High Quality Stock To Own?

    While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why itRead More...

  • Reuters - UK Focus

    LIVE MARKETS-Closing snapshot: February delivers monthly gains

    Feb 28 - Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Reach him on Messenger to share your thoughts ...

  • Reuters - UK Focus

    LIVE MARKETS-And the unlikely winner is...

    * European shares flat, pares losses after U.S. GDP data * Weak China PMIs sap risk appetite * Zalando surges up 22 pct, Altran gains 13 pct Feb 28 - Welcome to the home for real-time coverage of European ...

  • Reuters - UK Focus

    LIVE MARKETS-Trump's trade focus "like the Eye of Sauron"

    * European shares fall 0.3 percent * Weak China PMIs sap risk appetite * Zalando surges up 22 pct, Altran gains 13 pct * Howden Joinery tumbles after results * Eyes on U.S. GDP estimate Feb 28 - Welcome ...

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