(CercleFinance.com) – Miliboo reported on Friday a ‘record’ activity for the 1st half of its 2022-23 financial year, but also warned that it would be in the red at the operational level over the half due to tensions inflationary.
The furniture specialist indicates that its half-year turnover stood at 21.4 million euros over the six months to the end of October, up 16%, a new half-year record.
If the average basket has increased sharply, to stand at 315 euros against 301 euros a year earlier, the Savoyard group emphasizes that the jump in its turnover is mainly due to the increase in its volumes, the price effect being marginal over the semester.
In its second quarter, Miliboo generated revenue of 11.8 million euros, up 24.9% compared to that recorded in the second quarter of the 2021-22 financial year.
Miliboo – which claims to be facing very high cost prices for its products due to inflationary pressures amplified by the unfavorable evolution of the euro-dollar parity – warns that this economic effect is difficult to fully pass on to its sales prices, which weighs on its margins.
Its half-year Ebitda should thus show a loss of around -1.5 million euros, with a loss concentrated in the first quarter, the second quarter being close to equilibrium thanks to the very good level of activity recorded in the period.
Listed on Euronext Groxth Paris, Miliboo shares fell 2.2% on Friday following this publication.
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