Groupe LDLC société anonyme (ALLDL) H2 23/24 earnings summary

Executive summary

• Annual revenues increased 0.7% to €571.5m, with gross margin rate up 0.7 points to 21.5%.

• EBITDA and net income declined slightly due to a challenging economic environment.

• BtoC sales showed modest recovery, while BtoB demand remained subdued.

• Expansion included 12 new high-tech stores and exclusive negotiations to acquire Rue du Commerce.

Financial highlights

• Revenues reached €571.5m, up 0.7% year-over-year.

• Gross margin was €122.8m, with a margin rate of 21.5%, up 70 basis points.

• EBITDA fell to €11.4m from €14.3m, with margin down to 2.0%.

• Net loss (Group share) was €0.2m for 2023/2024.

• Operating earnings (EBIT) after goodwill amortisation and impairment were €1.4m.

Outlook and guidance

• Anticipates benefiting from a new high-tech product upgrading cycle and innovation-driven recovery.

• Expects to complete Rue du Commerce acquisition by mid-July 2024.

• Focus remains on strengthening BtoC position and expanding into new markets.

• Aims for a return to normalized profit margins in the next growth cycle.