-
Maintaining a high level of activity at 3
th
quarter
-
New business record after 9 months with revenue of €32.3 million, up 8%
-
Sharp upturn in gross margin and return to operating profitability in 3
th
quarter
Chavanod, February 23, 2023 –
Miliboo (ISIN code: FR0013053535 – Mnemonic code: ALMLB), the digital furniture brand, publishes its turnover for the 3
th
quarter (period from 1
er
November 2022 to January 31, 2023) and the first nine months of the 2022-23 financial year.
|
(IN K€) |
2021-22 |
2022-23 |
% Change |
|
1 | |||
Turnover | 18,413 | 21,359 |
+16.0% |
Gross margin | 59.2% | 51.1% |
-8.1 pts |
|
3 | |||
Turnover |
11,491 |
10,985 |
-4.4% |
Gross margin |
56.1% |
57.1% |
+1.0pts |
|
9 months | |||
Turnover |
29,903 |
32,344 |
+8.2% |
Gross margin |
58.0% |
53.2% |
-4.8pts |
Unaudited figures
Guillaume Lachenal, Chairman and CEO and founder of Miliboo, comments:
” The 3
th
quarter fully meets our expectations and validates our strategic choices despite a still difficult context for household consumption. The slight quarterly decline in turnover, faced with a demanding basis for comparison, comes solely from the marketplaces, a less profitable channel. On our own sales channels (stores and site), we continue to gain market share without massive recourse to promotional devices. As we announced, our priority at 2
n/a
semester is the recovery of our profitability and in particular of our gross margin which had deteriorated sharply in the 1
er
semester. The rebound is already visible with an increase of 6 points over the quarter. We are back to profitability this quarter and we are in the right direction for the future. In a sector that has improved in recent months, we have a real opportunity to continue to gain market share and strengthen our position as a recognized specialist player in Europe. »
Still record activity after 9 months
In an economic context that weighs on household budgets, Miliboo recorded in the 3
th
quarter 2022-23 solid revenue of €11.0 million,
slightly down -4.4% from the high level of 3
th
quarter 2021-22. Over the period, the adjustment of the commercial policy made it possible to compensate for the cyclical decline in volumes. The average basket stands at 345 euros, up +16.3% compared to the 3
th
quarter 2021-22.
In France (87% of sales), sales amounted to €9.5 million, down €0.4 million. This quarterly decline comes solely from third-party marketplaces, which are less profitable. Excluding marketplaces, activity in stores and the site itself increased by +3.2%, confirming the relevance of the phygital model.
Internationally
quarterly sales amounted to €1.4 million, almost stable compared to last year (-€0.1 million), with sales still concentrated in Germany, Spain and Italy .
9-month turnover thus increased to €32.3 million, up +8.2%. This level represents a new activity record for the Group over the period.
Sharp rise in gross margin in 3
th
quarter (+6 points vs H1 2022-23)
The trade policy adjustment is bearing fruit. The gross margin rate thus rose sharply to more than 57% on average over the 3
th
quarter, i.e. an increase of 6 points compared to the average for the 1
er
semester. It is also above that of the 3
th
quarter of 2021-22, which had marked the start of the cyclical erosion.
The level of activity and the return to a more normative gross margin rate enabled Miliboo to return to positive operating profitability in this 3
th
quarter.
Outlook for the rest of the 2022-23 financial year
Faced with an economic context offering little visibility, Miliboo will continue to focus its commercial policy on its best-selling products, ensuring their high availability.
The Group also aims to pursue the optimization of its gross margin rate and good control of operating costs, in order to confirm its return to operational profitability.
Next meeting :
Thursday 1
er
June 2023 (after market)
: Annual turnover 2022-2023
ABOUT
MILIBOO
Created in 2005, Miliboo is a major player in the design and sale of “design and trendy” furniture on the Internet, with the particularity of guaranteeing shipment within 24 to 72 hours in France. With more than 2,500 references mainly sold on its website www.miliboo.com and in its three “Milibootik”, physical points of sale located in Paris and Lyon, the company offers complete ranges of furniture for the whole house. |
CONTACTS
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Guillaume LE FLOCH – Investor Relations Serena BONI – Press Relations
Such. 01 53 67 36 70 Tel. 04 72 18 04 92
[email protected] [email protected]
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