(AOF) – Sales in 2023 for Jacquet Metals amount to 2.23 billion euros. They are 16.9% lower than those recorded a year earlier (2.68 billion euros). In 2023, current Ebitda stands at 134 million euros, representing 6% of turnover compared to 312 million euros in 2022 (11.6% of turnover). In 2023, current operating profit amounts to 99 million euros (4.5% of turnover) compared to 263 million euros last year. Net profit, group share, stood at 51 million euros compared to 180 million euros a year ago.
The gross margin amounts to 481 million euros and represents 21.5% of turnover compared to 681 million euros in 2022 (25.4% of turnover).
In 2023, Jacquet Metals generated positive operating cash flow of €210 million.
The operational working capital requirement amounts to 657 million euros (28% of turnover) compared to 746 million euros at the end of 2022 (28% of turnover) with inventories down by 103 million euros (677 million euros at the end of 2023 compared to 780 million euros at the end of 2022).
After payment of the dividend and financing of investments and acquisitions, net debt amounts to 210 million euros compared to 234 million euros at the end of 2022.
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Concerns remain
According to the Federation of Specialized Trade, Procos, in October 2022, activity fell by 1.5% year-on-year. However, the activity of beauty and health (+ 5.2%) and specialized food (+ 3.5%) are dynamic compared to October 2021. Attendance at points of sale was very impacted by the problems fuel and unfavorable weather. Compared to October 2019, a pre-covid year, the drop in attendance is very sharp (-20.9% in October). Shopping centers and the outskirts are more impacted than city centers with a gap of four to five points.
There are several reasons for concern for the future. The players are experiencing a very significant jaws effect given the increase in their operating costs while the evolution of demand is very uncertain. Very few brands can pass on the increase in their costs in sales prices. The federation therefore asks, among other things, to limit the indexation of the Commercial Rent Index to + 3.5% for the rents of all companies in 2023. It also invokes an absolute emergency: to cap the price of energy for 2023 and retroact on contracts already signed to prevent the rate of failures from accelerating.