(CercleFinance.com) – Fnac Darty publishes revenue of 1,782 ME for the 1st quarter of 2022, down 2.5% compared to the same period a year earlier on a like-for-like basis (i.e. i.e. excluding currency effects, changes in scope, openings and closings of own stores).
Still on a like-for-like basis, activity fell by 2.8% for the France and Switzerland zone (€1,471 million in turnover), a decline that even reached 8.6% for the Belgium and Luxembourg zone (€154 million in THAT). On the other hand, the turnover achieved on the Iberian Peninsula was up by 7.4%, at 157 ME.
“The Group demonstrated solid execution in the first quarter of 2022, marked by good product availability and excellent service quality,” notes Enrique Martinez, CEO of Fnac Darty.
Like many companies, Fnac Darty has to deal with the inflationary context and the numerous geopolitical uncertainties impacting visibility over the coming months.
“The Group’s priority for this year remains above all to optimize its level of gross margin thanks to solid management of supplies, its wide range of products and services and its ability to pass on price increases”, indicates Fnac Darty. .
The group finally confirms its objectives: to achieve cumulative free cash flow from operations of around 500 million euros over the period 2021-2023, and free cash flow from operations of at least 240 million euros at an annual rate from 2025.