(Boursier.com) — Showroomprivé consolidated by 5.8% to 1.6 euros despite a dynamic start to the year. The group specializing in the private sale of items on the Internet has indeed unveiled a turnover of 155.7 ME in the first quarter, up 12.3%. The Group anticipates a continued recovery in activity over the coming quarters despite still reduced visibility due to the economic situation. “To deal with market volatility, Showroomprivé will strive to improve its gross margin level by remaining vigilant on its purchasing conditions and its stock level. The teams will remain focused on controlling operating expenses and will focus on the deployment of the ACE roadmap aimed at profitable and cash-generating growth in the medium term”.
This publication slightly higher than Oddo BHF’s expectations is rather reassuring and confirms the continuation of the recovery in activity which should be confirmed in Q2 given the still very favorable base effects. At this stage, the broker is maintaining its 2023 scenario, namely: a turnover of 685 ME, up 4%, and an EBITDA of 22 ME, i.e. a margin of 3.2% (+20 bp). It nevertheless remains cautious on the stock in a still uncertain consumption context and thus maintains its ‘neutral’ recommendation with an unchanged target of 1.5 euros.
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