Miliboo: record sales and return to profit in 2023/2024

(CercleFinance.com) - Miliboo posted one of the strongest gains on the Paris market on Monday, after reporting a "record" level of activity and a return to profitability over the past financial year.


The furniture brand said it had generated annual sales up 2.3% to 43.3 million euros over its 2023-24 financial year, which ended on April 30.

In a press release, the company explains that the rise in the average basket offset the drop in volumes (-3.9%) in a market context considered sluggish.

"We have continued to gain market share, and our profitability has risen sharply in particular, thanks to good management of our gross margin and rigorous control of our operating expenses", emphasized Guillaume Lachenal, its CEO and founder.

Thanks to tight control of operating expenses, starting with a reduction in advertising and marketing costs, Miliboo returned to a positive Ebitda of 3.1 million euros in 2022-23, compared with a loss of 0.9 million euros a year earlier.

As a result, Miliboo posted a net profit of 2.4 million euros.

Faced with a furniture market that is still trending downwards (-7% in May), the company is "very cautious" and intends to steer its sales strategy in such a way as to preserve its gross margin, while taking into account the sensitivity of prices to volumes.

Copyright (c) 2024 CercleFinance.com. All rights reserved.