Reinforcement of Financial Resilience in Q1

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The Group has reported its Q1 2019 financial results, showcasing a stable DSO, robust productivity growth, and accelerated growth in Japan and Rest of World markets.

The Group is on track to deliver EUR 70 million of productivity savings from its GrowTogether transformation program in 2019. This progress is a testament to the good work being done under the program, contributing to the overall growth of the company.

Revenues declined 2% trading days adjusted year-on-year, but the Group managed to improve its EBITA margin by 20 bps in Q1 2019, despite increased digital investments. The EBITA margin excluding one-offs was 4.0%, up 20 bps year-on-year. However, it is worth noting that the EBITA one-time expenses of EUR 5 million in Q1 2019 were not explicitly detailed in the provided search results.

Gross margin increased by 100 bps year-on-year, supported by improving business mix and positive pricing development. This growth in gross margin is a positive sign, indicating a healthier financial position for the Group.

The Group's Net debt/EBITDA ratio was 0.9x, indicating a strong balance sheet. This ratio is a key measure of a company's debt management and financial health, and a ratio of 0.9x suggests that the Group is managing its debt effectively.

The trend in European markets stabilised during the quarter, while growth in Japan and Rest of World accelerated. The exit rate for the Group was in-line with Q1, providing a steady foundation for future growth.

For more information about the company and its brands, you can visit the links provided: "The our group - our brands video" and "The our group Company Profile." These resources offer a deeper insight into the Group's operations and offerings.

In Q1 2018, EBITA included one-offs of EUR 19 million, providing a useful comparison for understanding the current financial results. It is important to note that EBITA is a non-US GAAP measure, referring to operating income before amortization and impairment of goodwill and intangible assets. Organic growth is also a non-US GAAP measure, excluding the impact of currency, acquisitions, and divestitures.

In conclusion, the Group's Q1 2019 performance demonstrates a stable DSO, robust productivity growth, and accelerated growth in key markets. The Group's strong balance sheet, as indicated by its Net debt/EBITDA ratio, positions it well for future success. For more information about the Group and its brands, please visit the provided links.