MILIBOO: VERY SOLID FIRST HALF 2021-22 RESULTS – 01/11/2022 at 6:00 p.m.

• Maintaining a high level of half-year activity: € 18.4 million (+ 0.7%)
  

• Restated EBITDA of € 1.0 million
  

• Strong growth in operating income: + 78.4%
  

• Profitable and stable net result
  

Chavanod, January 11, 2022 –

Miliboo (ISIN code: FR0013053535 – Mnemonic code: ALMLB), the digital furniture brand, publishes its half-year results for the 2021-22 fiscal year (period from 1

^er

May to October 31, 2021), approved by the Board of Directors on January 10, 2022. The limited review procedures on the interim accounts have been carried out.

The half-year financial report, made available to the public and filed today with the Autorité des Marchés Financiers (AMF), can be viewed on the Miliboo website www.miliboo-bourse.com in the “Financial Information” section. .

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

“We are satisfied with the performance achieved over this semester. Miliboo has demonstrated its ability to optimize the availability rate of its products and thus maintain a high level of activity in a more difficult market context. This rewards the work of all of our teams who have worked tirelessly to satisfy our customers.

In an inflationary context, particularly with regard to freight, which weighs on our gross margin, we have been able to control our other operating expenses. The operating result is up sharply and our net result is equivalent to that of last year.

As we enter the 2

^nd

In the first half of the 2021-22 fiscal year, uncertainties remain due to the tensions still present on the supply chain and on the prices of containers from Asia. Maintaining a high availability rate remains a major issue, we remain confident for the rest of the year, assured of the relevance of our multi-channel model and the strategic choices made so far. ”

TURNOVER OF € 18.4 MILLION (+ 0.7%)

Miliboo maintains a high activity level at 1

^er

semester 2021-22 with a turnover of € 18.4 million, slightly higher than last year which constituted a high basis for comparison.

This performance was achieved in the context of a return to a more standardized commercial environment between in-store and online sales. The average basket over the semester was € 301 compared to € 267 in the 1st

^er

semester 2020-21.

Growth was driven by France (86% of activity) up + 2.0%.

International sales are still impacted by the strategic end of sales in the United Kingdom and Switzerland, while sales in key markets (Spain and Italy) are growing.

Demand has always remained well oriented, in particular for products in the highest segments, the availability of which has been ensured under good conditions.

GROSS MARGIN OF 59.2% AND INCREASE IN OPERATING PROFIT: + 78%

Gross margin at 1

^er

half-year amounted to € 10.9 million, ie a gross margin on sales of 59.2%, down by more than 3 points.

This development is directly linked to the increase in purchasing and import costs, partially offset by the increase in the average basket.

Despite this cyclical erosion of the gross margin

, the Group has been able, thanks to rigorous management of its operating expenses, to increase its accounting EBITDA (€ 0.6 million vs. € 0.5 million in the same period last year), to preserve its level of EBITDA restated (€ 1.0 million vs. € 1.1 million) and record a sharp increase in operating income to € 0.5 million, an increase of + 78.4%.

This operational performance confirms the solidity of the model and its potential for medium-term profitability.

After taking into account the financial result (- € 0.2 million) and the exceptional result,

Miliboo posts a positive and stable net result compared to the 1

^er

semester 2020-21, by € 0.3 million.

GROSS CASH OF € 8.5 MILLION

Restated cash flows generated by activity amounted to – € 4.4 million. This development is linked to an increase in the working capital requirement, due in particular to the reinforcement of stocks to ensure an availability rate of its products sufficient to meet demand.

Shareholders’ equity stands at € 2.8 million and net cash is positive (excluding OCA) at € 1.1 million (€ 8.4 million in available cash).

OUTLOOK FOR THE CONTINUATION OF 2021-22

Miliboo intends to pursue its strategy at 2

^nd

semester aiming to maintain a good level of availability of the offer while remaining attentive to the evolution of uncertainties weighing on the supply chain.

The Group continues to rigorously manage its expenses in order to limit the mechanical impact, on its gross margin, of current inflationary pressures on purchasing and import costs.

Although more normalized compared to last year, demand remains dynamic and Miliboo still has significant media and advertising coverage resulting from the partnership.

media-for-equity

with the M6 ​​Group.

Next meeting :

February 24, 2022 (after market close)

: Turnover of 3

^th

quarter 2021-22

ABOUT

MILIBOO

Created in 2005, Miliboo is a major player in the design and sale of “trendy”, modular and customizable 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 site 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 home.

Miliboo controls the entire value chain: conception / design, quality control (subsidiary in China), logistics tools, marketing and customer relations are internalized. Based in Chavanod (74) and with its own warehouse, Milistock, in Saint-Martin-de-Crau (13), the company is commercially present in 8 European countries.

Miliboo and its subsidiaries employ more than a hundred people. The company achieved € 41 million in sales during the 2020-21 financial year (closing on April 30, 2021), an increase of over 37% compared to the previous financial year. Sales are mainly made in France (86% of turnover) and in Europe (14% of turnover).

Contacts

NEWS finance & communication

Guillaume Le Floch – Investor Relations

Phone. 01 53 67 36 70

[email protected]

NEWS finance & communication

Serena BONI – Press relations

Phone. 04 72 18 04 92

[email protected]

1

Gross margin on turnover = turnover – purchases of goods + or – change in inventories

2

Exclusion of non-cash charges from store rents corresponding to the accounting treatment of franchise rents, non-cash advertising charges to M6 not disbursed because remunerated in OCA, capital instrument charges under the retention plan of executives, and for the previous period of cash charges for the store’s rent distributed equally over the current financial year and TV and Radio spot design charges spread over its effective period of use.

3

Accounting EBITDA restated for the items described in Note 2.

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