Brief: Maisons Du Monde SA H1 Sales Fell 4.8 Percent To 604 Million EUR

Maisons du Monde SA

28/07/2022 06:43

July 28 (Reuters) - Maisons du Monde SA  MDM.PA :
    * H1 SALES FELL 4.8 PERCENT TO 604 MILLION EUR
    * FIRST-HALF GMV AT EUR 643 MILLION (-2.3%)
    * H1 SALES AT EUR 604 MILLION (-4.8% YOY, +11% VERSUS 2019)
    * H1 ONLINE SALES DOWN -25% YOY, UP 34% VERSUS. 2019
    * H1 STORE SALES +9% YOY, UP 3% VERSUS. 2019
    * FIRST-HALF EBIT: EUR 28 MILLION; 4.7% MARGIN
    * FIRST-HALF FREE CASH FLOW: EUR (7) MILLION
    * H1 GROSS MARGIN AT 64.0%, -145 BPS YOY; STABLE VERSUS 2019
(EXCLUDING. MODANI)
    * ACTION PLAN UNDERWAY TO CONTAIN COSTS AND PROTECT CASH
    * CAPEX PRIORITIZATION IN A CONTEXT OF LOW VISIBILITY AND
ACTIVE
WORKING CAPITAL OPTIMIZATION PROGRAM
    * FY22 UPDATED GUIDANCE CONFIRMED
    * UTILIZING STRONG BALANCE SHEET TO OPPORTUNISTICALLY LAUNCH
NEW
SHARE BUYBACK PLAN FOR UP TO 10% OF SHARE CAPITAL, AS CURRENT
STOCK PRICE DOES NOT REFLECT COMPANY'S INTRINSIC VALUE
    * SG&A COST MITIGATION PLAN TO REDUCE IMPACT OF RISING
INFLATION
BY EUR 20 MILLION
    * INITIATIVES TARGETED AT REVENUES AND COGS, INCLUDING
SOURCING
AND LOGISTICS EFFICIENCY PROGRAMS, TO DRIVE EXTRA EUR 5 MILLION
AND MAINTAIN GM LEVEL AROUND 63%
    * H1 NET INCOME FROM CONTINUING OPERATIONS AMOUNTED TO EUR 8
MILLION, DOWN 51% YOY. EPS WAS EUR 0.19, COMPARED TO EUR 0.43 IN
H1 21

Source text for Eikon:  ID:nGNE1ys9nd 
Further company coverage:  MDM.PA 

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