Silmäasema lowers guidance on the development of adjusted EBITDA margin for 2017
Silmäasema Oyj Stock Exchange Release 30 November 2017 at 8:00 EET
Silmäasema Oyj lowers guidance on the development of adjusted EBITDA margin for the financial year 2017. The main reasons for the updated outlook are slower than expected development of the profitability of new opened and acquired optical retail stores during the year as well as weaker than expected development of the eye clinics business during the last quarter of the year.
Silmäasema Oyj's guidance regarding the growth of net sales in 2017 remains unchanged i.e. Silmäasema expects to see stronger growth in net sales than last year. In January-September 2017 the net sales grew by 18.2% from the previous year.
New prospects for 2017
This year, Silmäasema expects to see stronger growth in net sales than last year. Adjusted EBITDA margin is expected to be at last year's level or lower than last year.
In 2016, Silmäasema's net sales increased by 8.6 per cent and its adjusted EBITDA margin was 11.8 per cent.
Previous prospects for 2017 (published in the half-year review on 18 August 2017)
This year, Silmäasema expects to see stronger growth in net sales than last year and an improved adjusted EBITDA margin.
In 2016, Silmäasema's net sales increased by 8.6 per cent and its adjusted EBITDA margin was 11.8 per cent.
Additional information
CEO Pasi Kohmo, tel. +358 50 331 7015
CFO Anu Kankkunen, tel. +358 50 669 69
Head of Communications and Investor Relations Tuukka Hirvonen, tel. +358 50 416 7700
SILMÄASEMA OYJ
Pasi Kohmo CEO
Anu Kankkunen CFO
Silmäasema is a Finnish company, which offers all products and services for optical retail and eye healthcare nationwide. Silmäasema is the largest private eye clinic provider offering eye surgeries and the second largest optical retail chain with 28.4 per cent market share. The Silmäasema chain has 148 stores and 13 eye clinics in Finland as well as eight stores in Estonia. The Silmäasema chain employs close to 1,000 eye healthcare professionals. In 2016, the Silmäasema chain conducted around 210,000 optician's eye examinations, 190,000 ophthalmologist's appointments and over 15,000 cataract and refractive surgeries. Silmäasema's Group net sales were 101.3 million euros in 2016 and adjusted EBITDA was 12.0 million euros.
