MILIBOO: ACCELERATION OF GROWTH IN THE 2ND QUARTER 2022-23 – 01/12/2022 at 18:30

• Strong revenue growth in 2
  
  ^th
  
  quarter of +24.9%
  

• Activity record for a 1
  
  ^er
  
  semester at €21.4 million (+16%) in a demanding market context
  

• Half-year EBITDA temporarily impacted by inflation on supply costs
  

Chavanod, 1

^er

December 2022 –

Miliboo (ISIN code: FR0013053535 – Mnemonic code: ALMLB), the digital furniture brand, publishes its turnover for the 1

^er

semester (period from 1

^er

May to October 31, 2022) of the 2022-23 financial year.

Unaudited figures

Guillaume Lachenal, Chairman and CEO and founder of Miliboo, comments:

“We had a very solid first half commercially. Despite a less favorable context for household consumption, we are delivering good growth thanks to our phygital model and our ability to maintain good availability of our products, in particular our “best sellers”.

Like all market players, we are impacted by cost inflation, which weighs on the gross margin and profitability in the short term. Our half-year EBITDA will be negative from time to time, but with a marked improvement between the two quarters, with the second quarter already almost in balance thanks to the growth in activity and the control of our costs.

However, our gross cash remains substantial. In a furniture sector which is now concentrated around the strongest players, we clearly have a card to play in the coming semesters. There is a real opportunity to continue to develop our active customer base and strengthen our position as a recognized specialist player in Europe.”

QUARTERLY REVENUES UP 25%

In the context of a 2

^th

quarter 2022-23 marked by an economic and inflationary climate weighing on household morale, Miliboo outperformed the market. The company achieved quarterly revenue of €11.8 million, up +24.9% compared to that recorded in 2

^th

quarter of fiscal year 2021-22.

This good progress is general: in France (86% of turnover), Miliboo recorded an increase in turnover of +22.9%, driven by a good development of the activity on all its distribution channels , shops, websites and

Marketplaces

third parties; internationally, revenue was up +38.1%, reflecting the brand’s attractiveness in its key markets (Italy, Spain and Germany).

Half-year revenue thus came to €21.4 million, up 16%, constituting a new half-year record.

The average shopping basket increased sharply, standing at €315 against €301 in the same half of last year (+4.9%). The leap in turnover was achieved by volumes, the price effect being marginal over the half-year.

HALF YEAR EBITDA LANDING

Since 2

^n/a

semester of the previous fiscal year, Miliboo faced very high cost prices for its products due to global inflationary pressures, amplified by the unfavorable trend in the euro-dollar parity. This economic impact, which is difficult to fully pass on to sales prices, weighed on the gross margin and EBITDA.

Half-year EBITDA should thus come out at around -€1.5 million, with a loss concentrated on the 1

^er

trimester on 2

^th

quarter being close to balance thanks to the very good level of activity recorded over the period.

OUTLOOK 2022-23

Miliboo will continue to focus on the gradual restoration of its gross margin rate, under the effect of the downward trend observed in Asia-Europe logistics costs and an adjusted commercial policy.

The Company will also pursue its strategy of gaining market share, by ensuring as a priority the high rate of availability of its most requested references.

Next meeting :

January 10, 2023 (after market)

: Results of 1

^er

semester 2022-23

contacts

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