Brief: SMCP Q1 Sales Up At 283.0 Million Euros

Smcp SA

26/04/2022 06:27

April 26 (Reuters) - SMCP SA  SMCP.PA :
    * 2022 Q1 SALES
    * Q1 SALES ROSE 26.4 PERCENT TO 283 MILLION EUR
    * RECENT COVID RESTRICTIONS HAD A SIGNIFICANT IMPACT ON
SALES,
FIRST IN HONG-KONG AND LATER IN MAINLAND CHINA
    * SMCP IS CLOSELY MONITORING THE HEALTH CONTEXT IN APAC AND
THE
IMPACT OF THE RESTRICTIONS ON THE IN-STORE TRAFFIC AS WELL AS ON
SUPPLY CHAIN CAPABILITIES
    * REMAINS CAUTIOUS AS THE SITUATION IN MAINLAND CHINA CAN
EVOLVE
RAPIDLY AND NEW CITIES COULD BE IMPACTED
    * CONFIRMS ITS FINANCIAL GUIDANCE FOR 2022 PROVIDED THAT THE
HEALTH CONTEXT IN APAC IMPROVES FAIRLY RAPIDLY
    * Q1 SALES UP +24% DRIVEN BY LFL, THANKS TO STRONG LOCAL
DEMAND
    * AS A REMINDER, FOR FULL YEAR 2022, SMCP ANTICIPATES SOLID
DOUBLE-DIGIT SALES GROWTH VERSUS 2021 AND MIDSINGLE-DIGIT SALES
GROWTH VERSUS 2019
    * REGARDING PROFITABILITY, THE GROUP EXPECTS AN ADJUSTED
EBIT
MARGIN (AS A % OF SALES) IN LINE WITH 2021 IN A CONTEXT OF
SIGNIFICANT INFLATION
    * Q1 SALES AT EUR 283.0M, UP +23.7% ON AN ORGANIC BASIS
VERSUS
2021
    * SMCP THUS ANTICIPATES A NET DEBT LEVERAGE RATIO OF <2X AT
THE
END OF 2022 (INSTEAD OF END OF 2023)

Source text for Eikon:  ID:nGNE58ZmqZ 
Further company coverage:  SMCP.PA 

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