(Boursier.com) — The group Cafom saw its gross margin rate for the 2021-2022 financial year amount to 49.7% against 52.6% the previous year (-2.9 points). While the E-commerce division (-3.8 margin points) suffered from inflationary pressures (goods and freight) and currency trends, the Overseas division, with a lower proportion of purchases in dollars , limited the impact on its margin (-1.9 points).
At 397.6 ME, turnover for the year was almost stable (-0.2%) compared to the previous year. The Group recorded an 8.8% increase in the Overseas division, offsetting the anticipated decline in the e-Commerce division (-12%).
The slight increase in current operating expenses (+1.4%) can be explained in particular by the opening of new stores in Overseas France, which generated an increase in personnel costs. This, combined with the decline in gross margin, impacted the Group’s EBITDA, which stood at €47.7 million compared to €61.4 million at September 30, 2021. Before application of IFRS 16, EBITDA amounted to to 28.7 ME, compared to 44.9 ME in 2021.
After taking into account depreciation and amortization and provisions, which have risen in particular due to rights of use (IFRS 16), current operating income amounted to 20.1 ME against 40.2 ME a year earlier.
Net profit attributable to the Group for the 2021-2022 financial year amounted to €10.7 million compared to €8.5 million a year earlier due to the greater relative contribution of the Overseas division.
Cafom indicates that it remains vigilant in the face of social tensions linked in particular to the inflation of goods, but continues the reasoned expansion of its network with the opening, at the end of October 2022, of a 35th store, under the Nature & Découvertes brand, in French Guiana. Above all, the group intends to further develop its e-commerce offer in the territories covered by opening merchant sites for all of its brands. To date, only the Darty sites in Réunion, Guyana, Martinique and Guadeloupe are operational.