Brief: Smcp Announces Details and Targets of Mid-Term Action Plan

Smcp SA

25/04/2024 06:27

April 25 (Reuters) - SMCP SA  SMCP.PA :
    * SMCP - 2024 Q1 SALES
    * GOOD PERFORMANCE IN AMERICA, RESILIENCE IN EUROPE
(EXCLUDING.
FRANCE) AND SLOW CONSUMPTION IN CHINA
    * SANDRO AND MAJE SLIGHT ORGANIC GROWTH EXCLUDING CHINA
    * SEES EBIT MARGIN C.10% IN 2026 AND C. 12% BY 5-YEARS
    * FROM 2026 ONWARD, ONCE NETWORK IS OPTIMIZED, GET BACK TO A
MID-SINGLE DIGIT SALES CAGR
    * ACTION PLAN ROLLOUT FROM 2024, WITH PROGRESSIVE EFFECTS,
TO
REACH EUR 25M ADDITIONAL EBIT IN 2026
    * SEES FREE-CASH-FLOW GENERATION OF EUR 50M IN 2026
    * AS ANTICIPATED, OUR Q1 REMAINED ON A SIMILAR TREND TO THAT
SEEN
IN SECOND HALF OF 2023.-CEO
    * WE ARE SATISFIED WITH OUR PERFORMANCE IN UNITED STATES AND
OUR
RESILIENCE IN EUROPE, EXCEPT IN FRANCE, WHERE CONSUMER SPENDING
REMAINS VOLATILE-CEO
    * RETAIL: NETWORK OPTIMISATION WITH C.100 CLOSINGS OF
DILUTIVE
STORES, MAINLY IN CHINA OVER 2 COMING YEARS
    * IN ASIA, OUR BUSINESS CONTINUES TO BE AFFECTED IN CHINA BY
LOW
IN-STORE TRAFFIC, WHILE OUR SALES ARE DYNAMIC IN SOUTH-EAST
ASIA-CEO

Source text for Eikon:  ID:nGNE3HxWLZ 
Further company coverage:  SMCP.PA 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))