MAISONS DU MONDE Third-quarter and nine-month 2023 activity
Paris, 26 October 2023
M A I S O N S D U M O N D E
Third -quarter and nine-month 2023 activity
Disclaimer
Forward-looking statements
This presentation 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, forecast 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.
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Third -quarter and nine-month 2023 activity
M A I S O N S D U M O N D E
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AGENDA
INTRODUCTION
FINANCIALREVIEW
STRENGTHENING3C PLAN
Q&A SESSION
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Third -quarter and nine-month 2023 activity
M A I S O N S D U M O N D E
1. INTRODUCTION
François-Melchior de Polignac
CEO
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M A I S O N S D U M O N D E
Third -quarter and nine-month 2023 activity
KEY HIGHLIGHTS
Significant Q3 sales drop on the back of a deteriorating non-food consumption environment FY23 guidance adjusted on October 9, 2023
Group GMV | FY 23 ADJUSTED GUIDANCE | ||||||||||||
Q3 | 9M | ▪ Consumer behavior shift: | |||||||||||
Topline | Decline by c. -10% | ||||||||||||
€285.2m | €896.0m | Constrained discretionary spending | |||||||||||
-6.3% yoy | -5.5% yoy | and trading down | EBIT | €40m-€50m | |||||||||
Group SALES | ▪ Lower traffic both in-store and online | FCF | €20m-30m | ||||||||||
Q3 | 9M | ||||||||||||
Dividend | |||||||||||||
€252.3m | €795.7m | Payout ratio | 30%-40% | ||||||||||
-9.4% yoy | -9.8% yoy |
Persistent inflation | Drop in consumer confidence | Constrained | Unusual weather |
conditions | |||
driven by food and energy | across Europe | purchasing power | |
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Third -quarter and nine-month 2023 activity
M A I S O N S D U M O N D E
2. FINANCIAL REVIEW
Gilles Lemaire
Acting CFO
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M A I S O N S D U M O N D E
Third -quarter and nine-month 2023 activity
Q3 2023 SALES BRIDGE
-9.4% sales decline
Q3 sales - in €m
278.5
+4.1252.3
-28.6 | -1.6 |
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Third -quarter and nine-month 2023 activity
STORE NETWORK
Continued active management with transfers to affiliated partners in line with our 2023 roadmap in France
M A I S O N S D U M O N D E
344 own stores
3 affiliated stores
30 September 2023
vs 358 own stores
31 December 2022
3 36
22 11
3 | ||
209 | + 3 | 1 |
13 | ||
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Own stores
Affiliated stores
Q3 2023 | |
Openings/Transfers | 1 |
France | 1 |
o/w transfer to affiliates | 1 |
Rest of Europe | 0 |
Closings | 7 |
France | 4 |
o/w transfer to affiliates | 1 |
Rest of Europe | 3 |
Net closings | 6 |
France | 3 |
Rest of Europe | 3 |
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Third -quarter and nine-month 2023 activity
Q3 2023 SALES DETAILS
France showing some resilience and contrasted performance within geographies
M A I S O N S D U M O N D E
Sales by channel
Q3 23 | Q3 22 | Var. % | |
Stores | 182.7 | 198.9 | -8.2% |
% sales | 72.4% | 71.4% | |
Online | 69.7 | 79.6 | -12.4% |
% sales | 27.6% | 28.6% |
- Store network: Lesser decline in France compared to other geographies
- Online:
- Some resilience in France, notably supported by the ongoing growth of its marketplace
- Strong decline in Germany a result of ROI- driven approach to digital marketing investments
- Growing contribution of our hybrid online and offline marketplace model (GMV +30%)
- Spain and Italy ramping up
Sales by category | Sales by geography | ||||||||||
Q3 23 | Q3 22 | Var. % | Q3 23 | Q3 22 | Var. % | ||||||
Decoration | 143.7 | 159.0 | -9.6% | France | 138.6 | 146.8 | -5.6% | ||||
% sales | 57.0% | 57.1% | % sales | 54.9% | 52.7% | ||||||
Furniture | 108.6 | 119.5 | -9.1% | International | 113.8 | 131.7 | -13.6% | ||||
% sales | 43.0% | 42.9% | % sales | 45.1% | 47.3% | ||||||
▪ Similar trends for Decoration and Furniture | ▪ | France, domestic market, showing relative | |||||||||
▪ | Decoration: | resilience | |||||||||
- Price adjustments on 400 references, among | ▪ | Contrasted performance within | |||||||||
the most attractive products | international, with Italy and Spain performing | ||||||||||
- Textile references adversely affected by | better than the other geographies and | ||||||||||
unusual weather conditions in Europe | benefiting from the marketplace | ||||||||||
▪ | Furniture: | ▪ UK: Impact of €-2.2 million due to the | |||||||||
- Record-high availability of products | discontinuation of non-profitable online | ||||||||||
displayed in-store and online | activities |
- Free shipping and free installment payments
- New launch in Germany in August
- Increasing store-originated GMV
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Third -quarter and nine-month 2023 activity
M A I S O N S D U M O N D E
3. STRENGTHENING 3C PLAN
François-Melchior de Polignac
CEO
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Maisons du Monde SA published this content on 26 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 October 2023 06:46:37 UTC.
