HIGHCO SELLS ITS IN-STORE BUSINESSES IN BENELUX AND ACCELERATES ITS DIGITAL TRANSFORMATION
This disposal is on track with the Group’s strategy to focus on two key objectives: digitise its businesses and enhance its data management. The COVID-19 health and economic situation is heavily impacting retail and influencing the digital transformations under way. This has brought major new challenges for brands and retailers.
Given this market environment,
The deal primarily involves “paper-based” in-store businesses. In 2019, the share of Digital in HighCo’s total business excluding these discontinued operations would have come to 63.9% (56.2% on a reported basis).
The sale of Shelf Service will therefore provide the opportunity to divest a subsidiary whose business has been on a structural decline and whose profitability has dropped significantly over the past several years. In 2019, in-store businesses in Benelux accounted for €12.5 M in gross profit, making a slightly positive contribution to consolidated headline PBIT. 2020 gross profit for these businesses is estimated at €10.5 M (down 16.3% compared with 2019). At
After this sale,
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+33 1 77 75 65 06 +33 1 77 75 65 16
comfi@highco.com c.lerat@highco.com
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Q4 and FY 2020 Gross Profit: Wednesday,
ISIN: FR0000054231
Reuters: HIGH.PA
Bloomberg: HCO FP
For further financial information and press releases, go to www.highco.com
This English translation is for the convenience of English-speaking readers. Consequently, the translation may not be relied upon to sustain any legal claim, nor should it be used as the basis of any legal opinion.
Attachment
- HighCo CP Cession SHELF_VDEF_EN
© OMX, source