Smcp Announces Details and Targets of Mid-Term Action Plan

Apr 25, 202405:27 UTC

SMCP SA SMCP:

SMCP - 2024 Q1 SALES
GOOD PERFORMANCE IN AMERICA, RESILIENCE IN EUROPE (EXCLUDING. FRANCE) AND SLOW CONSUMPTION IN CHINA
SANDRO AND MAJE SLIGHT ORGANIC GROWTH EXCLUDING CHINA
SEES EBIT MARGIN C.10% IN 2026 AND C. 12% BY 5-YEARS
FROM 2026 ONWARD, ONCE NETWORK IS OPTIMIZED, GET BACK TO A MID-SINGLE DIGIT SALES CAGR
ACTION PLAN ROLLOUT FROM 2024, WITH PROGRESSIVE EFFECTS, TO REACH EUR 25M ADDITIONAL EBIT IN 2026
SEES FREE-CASH-FLOW GENERATION OF EUR 50M IN 2026
AS ANTICIPATED, OUR Q1 REMAINED ON A SIMILAR TREND TO THAT SEEN IN SECOND HALF OF 2023.-CEO
WE ARE SATISFIED WITH OUR PERFORMANCE IN UNITED STATES AND OUR RESILIENCE IN EUROPE, EXCEPT IN FRANCE, WHERE CONSUMER SPENDING REMAINS VOLATILE-CEO
RETAIL: NETWORK OPTIMISATION WITH C.100 CLOSINGS OF DILUTIVE STORES, MAINLY IN CHINA OVER 2 COMING YEARS
IN ASIA, OUR BUSINESS CONTINUES TO BE AFFECTED IN CHINA BY LOW IN-STORE TRAFFIC, WHILE OUR SALES ARE DYNAMIC IN SOUTH-EAST ASIA-CEO