PARIS (Agefi-Dow Jones)–The furniture and decorative items distributor Maisons du Monde confirmed its financial objectives for 2022 on Wednesday, despite a decline in its turnover in the first quarter.
Over the first three months of this year, Maisons du Monde sales fell by 1.3%, to 313 million euros, but nevertheless exceeded the turnover of 305 million euros expected by Societe Generale. .
In the first quarter, revenues rose 5.9% in the group’s store network, to 208.9 million euros, but fell 13.2% on the Internet, to 104.1 million euros, due to an unfavorable basis of comparison. Online sales accounted for 33.3% of revenue in the first quarter of this year, down 4.5 percentage points year on year.
“Our first quarter performance is entirely in line with our forecasts despite the international macroeconomic and geopolitical context and the persistent disruptions in the supply chain”, said Julie Walbaum, the general manager of Maisons du Monde, quoted in a press release. .
“In an environment that remains complex and volatile, the group observes a slow start to the half-year and considers that the dynamic of the second quarter will be slowed down by the global inflationary context and its effect on demand”, in parallel with slowdowns linked to the resurgence of Covid-19 in Asia, “which could impact resupply programs”, added the specialized distributor. Consequently, Maisons du Monde expects to see its turnover decrease in the first half.
The managers nevertheless confirmed the financial objectives for the whole of the current financial year presented last March, on the occasion of the publication of the results for the 2021 financial year. For 2022, Maisons du Monde still anticipates a margin of Ebit “around 9%”, as well as a free cash flow of between 65 and 75 million euros. The Ebit corresponds to the Ebitda (gross operating surplus) after taking into account allocations to amortizations, provisions, and depreciations.
Maisons du Monde expects its sales to increase this year, but the group will not specify the extent of this increase when it has better visibility.
-Dimitri Delmond, Agefi-Dow Jones; +33 (0)1 41 27 47 31; [email protected] ed: VLV
FINANCIAL RELEASES FROM MAISONS DU MONDE:
https://corporate.maisonsdumonde.com/fr/finance/results-et-business-figures
Agefi-Dow Jones The financial newswire
Dow Jones Newswires
May 04, 2022 01:41 ET (05:41 GMT)