SMCP: targets lowered for 2023

(CercleFinance.com) - SMCP (Sandro, Maje, Claudie Pierlot) says it now expects a slightly weaker annual performance than previously forecast, with fourth-quarter sales flat at constant exchange rates, in a macroeconomic context that has continued to deteriorate.


It now anticipates sales of around 1.23 billion euros for 2023, i.e. +3.8% growth at constant exchange rates (instead of 'mid-single-digit' growth), and an adjusted EBIT margin of between 6.4% and 6.6% of sales (instead of 7-9%).

At the same time, the group, which specializes in affordable luxury goods, accelerated its cost-cutting plan in the last quarter of 2023, and continued to make its financial strength a priority, notably by reducing its net debt at the end of December 2023.

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