Brief: Maisons Du Monde FY Net Income Down At EUR 8.8 Mln

Maisons du Monde SA

12/03/2024 06:25

March 12 (Reuters) - Maisons du Monde SA  MDM.PA :
    * MAISONS DU MONDE ANNOUNCES FY2023 RESULTS AND MEDIUM-TERM
TRANSFORMATION PLAN 2024-2026
    * FY EBIT EUR 45.8 MILLION
    * FY FCF EUR 27.4 MILLION VERSUS ADJUSTED GUIDANCE EUR
20M-EUR 30M
    * PAYOUT RATIO OF 30% CONSISTENT WITH RANGE ANNOUNCED IN
OCTOBER,
AMOUNTING TO EUR 0.06 DIVIDEND PER SHARE, TO BE SUBMITTED AT
GENERAL MEETING ON 21 JUNE
    * EXPECTS CUMULATIVE FCF ABOVE EUR 100 MILLION OVER 3 YEARS
    * FY NET INCOME EUR 8.8 MILLION VERSUS EUR 34.2 MILLION IN
2022
    * FY EBITDA MARGIN REMAINED STABLE AT 18.4%
    * FY 2023 SALES EUR 1.26 BLN VERSUS EUR 1.34 BILLION YEAR
AGO
    * FY 2023 GROSS MARGIN EUR 725.8 MILLION VERSUS 802.5
MILLION YEAR
AGO
    * SAYS BETWEEN 2024-2026, GROUP WILL MAINTAIN ITS 30%-40%
DIVIDEND
PAYOUT RATIO
    * EXPECTS DELIVERING EUR 85 MLN GROSS COST SAVINGS OVER 3
YEARS,
BUILDING UPON THE EUR 25 MLN AND EUR 35 MLN PLANS OF 2022 AND
2023
    * OVER 2024–2026 PERIOD EXPECTS MORE STANDARDIZED CAPEX ON
SALES
RATIO OF CIRCA 3%, NOTABLE REDUCTION COMPARED TO 2019-2022
PERIOD

Source text for Eikon:  urn:newsml:reuters.com:*:nGNEbl8b3q
Further company coverage:  MDM.PA 

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