(CercleFinance.com) – SMCP, the owner of the Sandro, Maje and Claudie Pierlot brands, recorded a decline in turnover in the 4th quarter, in an environment marked by a slowdown in consumption and high inflation.
In a press release released yesterday evening, the ready-to-wear group positioned in the high-end segment reported an income of 332 million euros over the last three months of 2023, down 1% in data. published.
In organic data, activity contracted by 1.9%.
Over the entire financial year, its turnover stood at 1.23 billion euros, up 4% at constant rates (+3% organically).
In France, the group’s largest market, sales fell by 6.7% in the 4th quarter, in published and organic data, with the group citing a ‘degraded macroeconomic environment’.
Its adjusted Ebitda thus fell to 236 million euros in 2023, compared to 267 million in 2022, while the group’s net profit fell to 11 million euros, to be compared with 51 million euros. one year earlier.
According to SMCP, the year 2024 should follow a comparable trend, at least in the first half, which leads it to accelerate its action plan aimed at relaunching its profitable growth dynamic.
The group intends in particular to intensify its efforts on the desirability of its brands and in digital, optimize its network of stores, deepen its efforts in terms of cost management, while continuing to focus on profitability and cash generation.
He says he expects the first effects of this plan to appear from 2024, with an acceleration from 2025.
On the Paris Stock Exchange, SMCP shares fell by more than 6% following this publication. The stock has lost more than 65% over the last 12 months, penalized by a whole series of profit warnings.
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