Fnac-Darty: reduces loss in H1
(CercleFinance.com) - The Fnac-Darty group has reported sales of E3,390m for H1 2024, up 1.
4% (+0.1% LFL).
Compared with H1 2023, gross profit edged up from E1,039m to E1,050m, while recurring EBITDA rose from E143m to E146m.
All in all, the group posted a net loss from continuing operations of -E75m, a loss nevertheless below half the -E163m recorded a year earlier.
In H1, the group's performance is traditionally affected by the seasonal nature of the business, with the bulk of earnings and free cash flow from operations being recorded in the second half of the year, it says.
Fnac-Darty adds that, despite initial positive signs, market recovery remains uncertain. The Group is therefore maintaining its vigilance, but confirms at this stage a Current Operating Income (COI) for 2024 at least equal to that of 2023.
The group also confirms its target of achieving cumulative free operating cash flow of around E500m over 2021-2024, i.e. E180m in 2024.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
4% (+0.1% LFL).
Compared with H1 2023, gross profit edged up from E1,039m to E1,050m, while recurring EBITDA rose from E143m to E146m.
All in all, the group posted a net loss from continuing operations of -E75m, a loss nevertheless below half the -E163m recorded a year earlier.
In H1, the group's performance is traditionally affected by the seasonal nature of the business, with the bulk of earnings and free cash flow from operations being recorded in the second half of the year, it says.
Fnac-Darty adds that, despite initial positive signs, market recovery remains uncertain. The Group is therefore maintaining its vigilance, but confirms at this stage a Current Operating Income (COI) for 2024 at least equal to that of 2023.
The group also confirms its target of achieving cumulative free operating cash flow of around E500m over 2021-2024, i.e. E180m in 2024.
Copyright (c) 2024 CercleFinance.com. All rights reserved.