(BFM Bourse) – The distributor specializing in accessible frozen fresh products and 100% French origin recorded an overall increase of 32% in its sales in the past quarter, while maintaining the pace of new store opening. But with a constant network, the activity suffers from the comparison with the exceptional context of the end of 2020.
In October 2020, with the approach of the second national confinement (from October 30 to December 15), consumers had put the package on the purchases of precautions, filling their freezers. And the use of teleworking for many French people during this fourth quarter of 2020 had favored food sales at the expense of out-of-home catering. These factors having eased a year later, the Breton distributor Ecomiam saw its activity at constant scope reduced by 13.1% in one year, an indicator that weighs on its stock market price on Friday morning, even if the continued development of its network more than made up for it. Around 9:50 am, the title fell 5.99% to 14.44 euros.
From October 1 to December 31, 2021 (which corresponds to the first quarter of the fiscal year of the Quimper group), the turnover of Ecomiam stores reached 9.803 million euros, an increase of 32.1% compared to first quarter 2020/2021.
A network that has doubled since its arrival on the stock market
In accordance with the development plan presented at the time of the IPO, écomiam (the brand has opted for a spelling without a capital letter) continued to expand its territorial network outside the Brittany region. With 7 new affiliated stores, located mainly in the Atlantic Arc (4 in Normandy, 1 in Pays-de-la-Loire and 1 in Nouvelle-Aquitaine) but also a “very encouraging” opening of the first point of sale in the Paris region (at Magny-en-Vexin in the 95), the group now has 63 points of sale, compared to 27 during its IPO.
However, at constant scope (considering only the activity of stores that were already open at the start of the first quarter of 2020/2021), sales are down 13.1%. Due, explains Ecomiam, to the (“planned”) return to the activity rates which prevailed before the health crisis, a particularly marked base effect in October (disappearance of the “storage” effect in the month of October. approaching second confinement), and a drop in both the average basket and in-store attendance. Ecomiam emphasizes, however, that compared to the first quarter of 2019/2020 (to take a basis not amplified by the health crisis), the average basket shows an increase of 1.3% and attendance an increase of 17.8%, which “validates the innovative concept of the ecomiam network “according to the company.
Ahead of the roadmap for the growth of its network, the group thus confirms its initial objective of achieving 20 openings per year. With nearly 1,400 unsolicited applications for membership received since September 2020, Écomiam is confident in the deployment of its network and reaffirms its 2025 ambitions to reach 110 million euros in turnover and 7 million euros in operating result.
Guillaume Bayre – © 2022 BFM Bourse
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