PRESS RELEASE
Financial Information
Adjustment of 2023 annual objectives
considering a deteriorating non-food consumption environment
Nantes,
After a positive month of July, non-food consumption started to go through a strongly deteriorating trend as widely witnessed across the sector.
In this situation, the Home & Furniture sector is feeling the full effect of reduced discretionary consumer spending, resulting in decreased traffic both in-store and online.
As a result, third-quarter sales, which will be subject to a detailed publication on
Given the current trends in consumer behavior and the performance in Q3,
Adjusted guidance | Previous guidance | |
Top line | Decline by c. -10% | Decline in the low-to-mid single digit range, with a sequential improvement in H2 vs H1 |
EBIT | €40m-€50m | €65m-€75m |
FCF | €20m-€30m | €40m-€50m |
Dividend Pay-out ratio | 30 to 40% |
In this deteriorated context,
In addition, the Group confirms that it will announce a more extensive transformation plan in Q1 2024.
These efforts will benefit from the recent strengthening of the Executive Committee, with the appointment of
The Board, including its reference shareholder representatives, has expressed its full support for the steps being taken by Management and the Group as
Conference call for investors and analysts
Date:
Speakers:
Connection details:
- Webcast: https://edge.media-server.com/mmc/p/gaysusws
- Conference call: https://register.vevent.com/register/BIc267fcf9f9404757839be6ee983ba73a
Financialcalendar
26 October 2023 Q3 and 9M 2023 sales
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Disclaimer:ForwardLookingStatement
This press release contains certain statements that constitute "forward-looking statements," including but not limited to statements that are predictions of or indicate future events, trends, plans or objectives, based on certain assumptions or which do not directly relate to historical or current facts. Such forward-looking statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the future results expressed, forecasted or implied by such forward- looking statements. Accordingly, no representation is made that any of these statements or forecasts will come to pass or that any forecast results will be achieved. Any forward-looking statements included in this press release speak only as of the date hereof and will not give rise to updates or revision. For a more complete list and description of such risks and uncertainties, refer to Maisons du Monde’s filings with the French Autorité des marches financiers.
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Attachment
- 2023 10 09 Guidance 2023 adjustments_EN_FOR RELEASE
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