- More and more customers embrace Action

Highlights 2016 (amounts in EUR million)
2016 2015[1] 2016 vs 2015
Sales 2,675 1,995 34%
LfL sales growth[2] 6.9% 7.6%
Operating EBITDA[3] 310 226 37%
Cash flow from operations[4] 267 225 19%
Number of stores 852 655 +197
Number of employees[5] 35,000 29,000 + 6,000

Sander van der Laan, CEO Action, commenting on the 2016 results:
“2016 was another strong year for Action. I am proud of our 35,000 colleagues who enabled us to achieve sales growth of 34%. Their enthusiasm, dedication and hard work are crucial to the success of our company. Our sales growth demonstrates that in all six countries where we operate, our customers are embracing what we offer: a broad and ever-changing range of products at the lowest prices. At Action, our customers see every day that quality can come at a low price and for this reason they voted us European Retailer of the Year for the third consecutive year. With the majority of last year’s 197 new stores opened in France (100) and Germany (60), and the opening of our first French distribution centre, Action is now a truly European retailer, with a healthy geographical diversification.”

Adrian Bellamy, chairman of the Board of Directors:
“The Board would like to express its appreciation for another great year. Our growth and expansion accelerated, our formula and reputation grew stronger and more people discovered Action. The team continued successfully to develop Action into a European retailer that exceeds customers’ expectations and we strengthened the management and organisation of the company to create a solid foundation for further expansion and growth.”


1 For comparison reasons, all 2015 numbers are based on 52 weeks. 2015 contained an exceptional 53 weeks
trading.
2 Calculated on stores open for more than 12 months
3 Operating result (earnings) before interest, tax, depreciation, amortisation and non-recurring items
4 Operating EBITDA +/- changes in working capital +/- capital expenditures (excluding investments in new DCs)
+/- non-recurring (cash) items
5 # of employees as of 31 December, rounded in thousands