Damartex closes a transition period and embarks on a new strategic project

ACTIVITY AND PERFORMANCE BY DIVISION

Damartex ended the 2025/2026 financial year with revenue of €503.5 Mn, down compared to the previous year (-3.4% at actual exchange rates, -2.6% at like for like exchange rates). In a still unfavourable market environment, the Group’s various divisions recorded a decline in sales in the 2nd half of the 2025/2026 financial year.

The “Fashion” division’s sales amounted to €383.3 Mn for the 2025/2026 financial year, down slightly by 1.6% at actual exchange rates (-0.8% at like for like exchange rates). While the textile market remains under pressure, Xandres continues to perform well and continues to grow. The Damart brand, driven by the good momentum of its store network, also recorded a very significant improvement in its margin, contributing to the increase in the division’s overall profitability.
The division’s EBITDA thus stood at €14.9 Mn (+€1.6 Mn compared to the previous year), confirming the solidity and stability of its brands in their respective markets as well as the division’s ability to generate a sustainable margin.

The “Home & Lifestyle” division recorded annual sales of €91.3 Mn, down 11.1% at actual exchange rates (-9.9% at like for like exchange rates). The decline in sales of the division’s three brands is part of a generally sluggish home furnishings market in Europe, where growth is now coming from the digital channel. This structural shift towards “online”, combined with a particularly demanding market environment as well as the still cautious consumer choices of households, weighs on the division’s performance.
The division’s EBITDA was -€2.8 Mn for the year, down compared to the previous year.

The “Healthcare” division posted annual sales of €28.8 Mn, down slightly by 0.9% at actual and like for like exchange rates. Although the Santéol brand continued to grow over the year, Almadia was negatively impacted by the reform of Vehicles for People with Disabilities (wheelchairs).
The division’s EBITDA was €1.9 Mn, down compared to the previous year.

FINANCIAL RESULTS

Damartex’s operating EBITDA was €14.0 Mn, compared with €15.8 Mn last year, down 11.0%. This decline is due to the slowdown in the Group’s activity, non-recurring costs incurred on the logistics side of the “Home & Lifestyle” division and sales recruitment costs within the “Healthcare” division. Conversely, the “Fashion” division saw its margins improve significantly over the period.

The Group closed the 2025/2026 financial year with a net profit of -€35.9 Mn, down compared to the previous year, impacted by significant asset impairments in the “Healthcare” and “Home & Lifestyle” divisions.

FINANCIAL POSITION

The net financial position stabilized at -€119.3 Mn at the end of June 2026 (compared to -€119.6 Mn at the end of June 2025). The Group continued to invest, to support the momentum of physical sales and develop its technological capabilities while benefiting from the proceeds from the sale of its 32,000 m² logistics real estate complex located in Villeneuve-d’Ascq.

 Working capital requirements stood at €22.6 Mn at the end of June 2026, down slightly from the end of June 2025. Damartex continues to manage inventory in a sound and efficient manner despite market uncertainties.

DIVIDEND

The Management Board will not propose a dividend distribution at the Annual General Meeting scheduled for November 19, 2026.

PERSPECTIVES

The Group maintains a rigorous and intelligent management of its activities while continuing to improve its overall profitability.

On the occasion of the presentation of its annual results on Wednesday, September 9, the Group will take stock of its Dare.Act.Impact strategic plan, which has now been completed, and then detail the pillars and next steps of its new roadmap in order to strengthen the coherence of its offer, clean up its balance sheet and direct its capital towards higher value-added activities.

Damartex has also begun an in-depth review of its brand portfolio and is expected to present its initial findings by the end of 2026.

A second half of the year down in a difficult context, but an encouraging annual report driven by store momentum and the development of omnichannel

Damartex closed the 2025/2026 financial year with revenue of €503.5 Mn, down compared to the previous year (-3.4% at actual exchange rates, -2.6% at like for like exchange rates). The Group’s business was particularly affected by a highly volatile environment in the second half of the year. The Group recorded revenue of €224.2 Mn over this period, down 5.3% at actual exchange rates (-4.6% at like for like exchange rates).

Fourth-quarter sales contracted by 5.6% at actual exchange rates (-5.0% at like for like exchange rates) to €98.8 Mn, due to the geopolitical crisis and unprecedented weather events that particularly weighed on the month of June. This declining performance nevertheless masks the growth of digital and physical channels, which continue to grow overall.

The “Fashion” division posted revenue of €383.3 Mn for the 2025/2026 financial year, down slightly by 1.6% at actual exchange rates (-0.8% at like for like exchange rates).

Damart was particularly affected by a significant drop in store traffic and therefore sales in June due to the heat wave. Overall, the brand experienced a 2.6% contraction in sales in the second half of the year. This contrasts with the dynamism of the stores which, despite the heat wave, recorded a growth in their turnover over the year, because of both an increase in the average basket and the conversion rate. In its three main markets, the brand ended the year almost stable in France and Belgium but remains penalised in Great Britain by a structurally low level of consumer confidence. For the year, revenue was down slightly by 1.8% at actual exchange rates. 

The Xandres brand continued to grow, with a 1.2% increase in sales at actual exchange rates for the full year, driven by its strong presence in Belgium and the Netherlands, where the brand is continuing its development with the opening of two new stores.

The “Home & Lifestyle” division generated revenue of €91.3 Mn, down 11.1% at actual exchange rates over the year (-9.9% at like for like exchange rates). The three brands in the division posted a drop in their turnover over the year. The 3 Pagen brand was penalised by the slowdown in the German economy, marked by a particularly weak climate of confidence.  The Coopers of Stortford brand continues to evolve in a context of accelerated change in consumption patterns, marked by a more pronounced decline in its historical catalogue channel. The growth of digital, which now accounts for nearly 50% of sales, is supporting this transformation in uses.

Finally, “Healthcare” division’s revenue was €28.8 Mn, down slightly by 0.9% at actual and like for like exchange rates. Santéol continues to grow despite the 4% decrease in CPAP (Continuous Positive Airway Pressure) reimbursement packages since April 1, 2026. Almadia, on the other hand, is penalised by the implementation of the zero-out-of-pocket pension reform for vehicles for people with disabilities (wheelchairs), despite the development of its offer of service points.

On the presentation of its annual results on September 9, 2026, the Group will review the results of its Dare.Act.Impact strategic plan carried out over the past four years and present its new roadmap.

The Damartex Group announces the appointments of Anne-Sylvie Hubert as Chief Executive Officer and Filiep Blontrock to the Executive Board as Managing Director and has entrusted them with the strategic review of its brand portfolio. 

Whilst the markets in which Damartex operates remain turbulent, the Group has appointed Anne-Sylvie Hubert as Chief Executive Officer. She takes over from Nicolas Marchand, who is stepping down on 12 May 2026 to pursue new projects. The Supervisory Board thanks him for his work at Damartex. Filiep Blontrock, meanwhile, has been appointed to the Executive Board as Managing Director.

Anne-Sylvie Hubert has been the Group’s Chief Financial Officer since 2023 and has extensive experience in the retail sector, having served as Chief Financial Officer at Kiabi for six years. She has built her career in finance, notably at KPMG and Deloitte.

Filiep Blontrock, Managing Director of Damart, has been with the Group since 2013 and possesses a keen understanding of the retail sector, with 30 years’ experience in the fashion and leisure industries, particularly in Belgium, France, Switzerland and the UK.

They will conduct a thorough review of the Group’s business portfolio, with a view to improving its coherence and focusing investment to support Damartex’s continued development.

This review will be carried out over the coming months and will cover all of the Group’s businesses, with the aim of strengthening its balance sheet and returning to a more sustainable level of debt.

The new Management Board will be able to rely on the Executive Committee and the management teams to ensure a smooth transition to the next stages for Damartex, which will be outlined at the annual results presentation in September.

Jean Guillaume Despature, Chairman of the Supervisory Board, said: “I would like to thank Nicolas Marchand for his commitment, the work he has undertaken and the impetus he has provided over the past few months. I am delighted with the appointment of the new Executive Board; Anne-Sylvie and Filiep will be able to draw on their expertise and in-depth knowledge of the Group and its markets to steer its development in the face of the challenges our markets present.”

“It is with great determination that I take on these new responsibilities within a Group that I know well, and which boasts a long-standing reputation and recognised expertise. Together with Filiep, in this challenging environment, we will approach this strategic review of our activities with discipline. We would like to thank the Supervisory Board for its confidence in us and look forward to working  with our teams,” adds Anne-Sylvie Hubert, Chair of the Executive  Board.

Damartex down in a deteriorating market environment, mainly penalised by its activities in England and Germany

Damartex closed the third quarter of the 2025/2026 financial year with revenue of €125.4 Mn, down compared to the previous year (-5.0% at actual exchange rates and -4.2% at like for like exchange rates). The current high macroeconomic and geopolitical uncertainties are weighing on consumer confidence, weakening many markets.

Over the first nine months of the year, Damartex posted sales of €404.7 Mn, down slightly compared to the same period last year (-2.9% at actual exchange rates and -2.0% at like for like exchange rates).

The “Fashion” division recorded revenue of €313.3 Mn in the first nine months, down slightly by -1.2% at actual exchange rates (-0.4% at like for like exchange rates).

In the third quarter, while the division’s sales fell slightly by -2.1% at actual exchange rates (-1.3% at like for like exchange rates), the fundamentals of its brands nevertheless remained solid. In a clothing market under pressure, the Damart brand is showing resilience and posting a slight decline in sales over the first 9 months of the year; The planned and managed attrition of catalogue sales is largely offset by the performance of the store channel. For its part, Xandres continued its good momentum with sales up +1.8% over the last quarter despite the global context and posted a promising level of activity over the first nine months of the year, up +3.2% compared to the same period of the previous year.

The “Home & Lifestyle” division, mainly active in the UK and Germany, closed the first nine months of the year with revenue of €69.6 Mn, down -10.3% at actual exchange rates (-8.9% at like for like exchange rates). Impacted by a deteriorating sector environment, the activity also reflects the ongoing evolution of the commercial and operational model and the refocusing of the assortment. In the last quarter, its sales amounted to €21.8 Mn, down -16.5% at actual exchange rates (-15.4% at like for like exchange rates).

Finally, the “Healthcare” division posted sales of €21.8 Mn in the first nine months of the year, stable compared to the same period last year (-0.2% at actual and like for like exchange rates). In the third quarter, the activity of the division dedicated to healthcare was down slightly by -3.0% at actual and constant rates and ended the period at €7.1 Mn, Almadia’s performance being disrupted in particular by delays in the implementation of the VPH (Vehicle for People with Disabilities) reform in France. Santéol continues to grow, with sales teams now fully strengthened.

As the global geopolitical and macroeconomic environment becomes more complex in view of the ongoing conflict in the Middle East, which is significantly reducing household consumption, Damartex anticipates a relative tension on its cost and inventory management. While some of the Group’s brands are showing good resilience, thanks to a proven and robust business model, Damartex continues to steer the deployment of its Dare.Act.Impact 2026 strategic plan with prudence and agility.

Damartex strengthens its fundamentals and confirms the improvement in its profitability

ACTIVITY & PERFORMANCE BY DIVISION

Damartex closed the first half of the 2025/2026 financial year with revenue of €279.3 Mn, slightly down compared to the previous year (-1.9% at actual exchange rates and -1.0% at like for like exchange rates).

The “Fashion“ division’s sales amounted to €216.8 Mn for the half-year, almost stable at -0.8% at actual exchange rates (stable at like for like exchange rates).

Despite social movements in France and Belgium, and a decline in consumption on the English market over the last half of the year, the Damart brand closes 2025 on a positive note, driven by the benefits of the brand’s repositioning for several quarters. As for Xandres, the first half of the year was marked by growth in both the local market (+2.8% in Belgium) and the Dutch market (+18.4%) with the opening of a third store in Maastricht and the development of the network of multi-brand retailers.

The “Home & Lifestyle” division was impacted by an overall decline in demand in its various markets. In a context of adjustment of its offers by channel and changes in its internal organization, the division closed the half-year with sales of €47.8 Mn, down -7.2% at actual exchange rates (-5.6% at like for like exchange rates).

Finally, the “Healthcare” division posted sales of €14.7 Mn, up +1.2% over the first half at constant real exchange rates. Santéol is benefiting from the strengthening of its sales teams while Almadia and MSanté are making a strategic refocus.

FINANCIAL RESULTS

The Group’s operating EBITDA improved again to €14.1 Mn, compared to €12.6 Mn last year, reflecting continued work on margins and cost optimization, and despite increased competition from Chinese e-commerce platforms that had a strong impact on digital marketing costs.

The operating EBITDA of the “Fashion” division was up significantly to €15.7 Mn, an improvement of 27%, reflecting the strong increase in the profitability of the Damart and Xandres brands, supported by controlled margin management. The Home & Lifestyle division closed the half-year with an EBITDA of -€2.8 Mn, mainly impacted by the contraction in its business as well as by the investment in two logistics projects whose profits should materialize in the coming quarters. The Healthcare division continued to invest in its strategic repositioning and geographical development, while posting an EBITDA of €1.2 Mn for the first half (down €0.9 Mn).

Damartex closed the first half of the year with a net profit from continuing operations of -€1.8 Mn, compared with -€2.6 Mn in the first half of the previous year.

FINANCIAL SITUATION

The net financial position stood at -€102.8 Mn at the end of December 2025 (compared to -€119.6 Mn at the end of June 2025), illustrating the efforts made over the past several quarters to optimize costs, pursue targeted investments, improve inventory management, and more generally the Group’s operating performance.

The working capital requirement amounted to €5.8 Mn at the end of December 2025, compared to €18.6 Mn last year.

PERSPECTIVES

Aware of the challenges it faces, the Damartex Group continues to optimize and fine-tune its activities to strengthen its profitability, in a macroeconomic environment that remains difficult. With improving fundamentals and historically high customer and employee satisfaction indicators, Damartex remains fully mobilized to accelerate this trajectory and intends to continue the deployment of its DARE. ACT. IMPACT 2026 strategic plan, which is focused on the profitable growth of each of its activities. However, the Group remains attentive to recent developments in the international geopolitical context that weigh on consumer confidence and may lead to pressures on the costs of energy, transport, certain products and services, as well as on delivery times and exchange rate developments.

Maintained activity in the first half of the year, in a difficult consumer environment

Damartex closed the first half of the 2025/2026 financial year with sales of €279.3 million, almost stable compared to the previous year (-1.9% at actual exchange rates and -1.0% at like for like exchange rates). In a still volatile market environment, marked by consumption that is struggling to regain positive momentum, the Damartex group has posted stable sales and continues to show resilience, thanks to the implementation of an effective operational strategy for several quarters.

In line with the 1st quarter, the Group recorded revenue of €172.2 million in the 2nd quarter, down slightly by -2.0% at actual exchange rates (-0.9% at like for like exchange rates).

The “Fashion” division posted sales of €216.8 million for the half-year, almost stable at -0.8% at actual exchange rates (stable at like for like exchange rates). Q2 sales were in line with the same period last year (+0.1% at actual exchange rates and +1.0% at like for like exchange rates), despite the social unrest in France and Belgium; December was relatively favourable for textile sales. The Damart brand stabilizes its activity over the quarter (-0.2% at actual exchange rates, +0.8% at like for like exchange rates). Impacted by a particularly marked drop in consumption on the English market, Damart nevertheless saw an improvement in its sales in France, supported by the brand’s repositioning work implemented for several quarters. Xandres continued its multi-channel development and continued to post a solid performance with a further +5.4% increase in revenue at actual and like for like exchange rates.

The “Home & Lifestyle” division posted revenue of €47.8 million for the half-year, down -7.2% at actual exchange rates (-5.6% at like for like exchange rates). The second quarter was particularly adverse for the Coopers of Stortford and 3Pagen brands, with sales down -14.3% and -11.5% respectively at actual exchange rates. This trend can be explained by an overall decline in household consumption on the type of products offered by the division’s brands, and by an ongoing adjustment of offers by channel.

The “Healthcare” division generated revenue of €14.7 million, up 1.2% over the first half at constant actual exchange rates. In the second quarter, the division’s activity remained stable at €7.5 million. The Santéol brand, which benefited from a reinforcement of its teams, posted an increase in activity of +4.0% and Almadia, driven by its recent strategic refocusing, ended the period with growth of +3.5% at real and like for like exchange rates over the last quarter. With customer and patient satisfaction at the heart of its strategy, as evidenced by the further increase in its NPS (Net Promoter Score) to +58, Damartex is maintaining its commercial efforts and continuing to implement its Dare.Act.Impact 2026 plan, in a market environment that is still unstable. The Group continues to rigorously steer its various activities towards sustainable growth, based on promising long-term trends.

A resilient start to the financial year for the Group, which remains on track in a still mixed market environment

In the 1st quarter of the 2025/2026 financial year, the Damartex group posted sales of €107.1 Mn, almost stable at -1.7% at actual exchange rates compared to the 1st quarter of 2024/2025 (-1.1% at like for like exchanges rates). The Group maintains a rigorous and agile operational management in an unfavourable market marked by a certain wait-and-see attitude.

The “Fashion” division recorded revenue of €80.6 Mn in the 1st quarter, down slightly by -2.3% at actual exchange rates (-1.8% at like for like exchanges rates). Damart ended the first quarter down -3.2% at real exchange rates (-2.5% at like for like exchanges rates), impacted by a high basis of comparison and by consumption penalized by social movements in France. The brand nevertheless has a solid network, strengthened with the recent opening of its new store in Roubaix (at the brand’s headquarters), and continues to optimize the management of its sales channels.

Over the period, the Xandres brand continued its good momentum with sales up +3.2% at real and constant exchange rates, and focused on adapting its offer to each of its specific and buoyant markets.

“Home & Lifestyle” revenue  was €19.3 Mn in the first quarter, stable compared to the same period last year (+1.2% at like for like exchanges rates). While Coopers of Stortford posted a decline of -8.2% due in particular to the ongoing adjustment of its marketing strategy, 3Pagen posted solid growth of +6.6% at real exchange rates. 

Finally, the “Healthcare” division recorded revenue of €7.2 Mn over the quarter, almost stable at +0.9% at actual and constant exchange rates. The Santéol brand posted sustained activity, up +8.0% at actual exchange rates, driven in particular by the strengthening of the sales teams. Finally, Almadia, which is in the process of integrating the strategic evolution of its model, posted a -9.8% decline in revenue at real exchange rates. The brand is also temporarily penalised by the implementation of the regulatory reform of the full coverage of wheelchairs (scheduled for the end of the calendar year).

In the first quarter, Damartex continued the disciplined implementation of its Dare.Act.Impact 2026 plan, in a volatile macroeconomic and political environment. Supported by continuous innovation and with the satisfaction of its customers and patients as a priority, the Group remains focused on the smooth running of the activities of each of its divisions towards a return to sustainable growth.

Damartex continues its operational recovery and is committed to strengthening its commercial momentum.

PERFORMANCE BY pole

Damartex concluded the 2024/25 fiscal year with revenue of €521,2Mn, remaining nearly stable compared to the previous year (-0.6% at constant exchange rates, -1.1% at actual exchange rates). In a persistently challenging market environment, the Group has stabilized its revenue after three years of decline and confirmed the momentum of profitability recovery initiated last year.

The “Fashion” division’s revenue for the 2024/2025 fiscal year stands at
€389.4 Mn, reflecting a slight decline of -1.7% at actual exchange rates (-2.2% at constant exchange rates) amid a challenging environment. While the Damart brand experienced a modest decrease in revenue (-2.4% at actual exchange rates), the Xandres label recorded an annual revenue increase of +5.7% at actual exchange rates. EBITDA of Fashion division reached €13,3Mn, marking a significant rise that underscores Damart’s solid fundamentals, the strategic positioning of Xandres, and the Group’s ongoing efforts to enhance the profitability of the division’s brands.

The “Home & Lifestyle” division reported annual revenue of €102.7Mn, reflecting a real exchange rate growth of +3.5%. Amid significant sectoral changes, investments in digital channels and product range renewal facilitated the acquisition of new customers. However, the Group has yet to realize the anticipated benefits for this division, resulting in a slight decline in EBITDA compared to the previous year, closing at €-1.7Mn.

The “Healthcare” division reports annual revenue of €29.1Mn, representing a +1.6% increase at constant and real exchange rates, driven by the growth momentum of Santéol and the encouraging results from Almadia following the strategic repositioning of its service activities initiated in the previous fiscal year. The Healthcare division’s EBITDA stands at €4.2Mn, showing a slight decline compared to the previous year.

FINANCIAL RESULTS

Damartex’s operational EBITDA shows a significant improvement, reaching €15.8Mn compared to €12.2Mn last year, representing an increase of +28.8%. This reflects stringent and agile cost management across all divisions to achieve sustainable growth. The Group closes the 2024/25 fiscal year with a net result of €-17.7Mn, demonstrating considerable improvement but still reflecting the impact of financing costs on the fiscal year.

FINANCIAL POSITION

The net financial position stands at €-119,6Mn as of the end of June 2025 (compared to €-104.7Mn as of the end of June 2024), reflecting the debt burden and ongoing investments necessary for the Group’s transformation.

The working capital requirement is €23.1Mn as of the end of June 2025, remaining stable compared to the previous fiscal year. This outcome confirms the sound management executed by the Group’s teams.

DIVIDEND

The Executive Board will not propose the distribution of dividends at the General Meeting scheduled for November 20, 2025.

PERSPECTIVES

Fully committed to its ambition of becoming a European benchmark in the Silver Economy, Damartex is advancing the second phase of its strategic plan DARE.ACT.IMPACT 2026, structured around four key complementary pillars:

• Delivering Financial Performance: The Group is beginning to realize the benefits of the restructuring undertaken and continues its implementation, consistently focused on enhancing the operational profitability of its divisions.

•  Innovative Brand Experience: The teams are advancing brand development and omnichannel innovation to refine the customer-patient experience.

• Change Our World: Aware of its societal responsibility, Damartex is actively pursuing the reduction of its carbon footprint. • Shared Leadership: Initiated in 2023/2024, the implementation of an innovative leadership approach focused on autonomy and shared responsibility is progressing, aiming to enhance adaptability and ensure transparent communication.

“Damartex continues to shape its legacy: that of a Group that meets challenges head-on and transforms obstacles into opportunities. Thanks to the dedication and professionalism of our teams, we are strengthening our core foundations while paving the way for new prospects. Our ambition is clear: to combine performance with a positive impact, serving the clients and patients who place their trust in us,” states Nicolas Marchand, CEO of the Damartex Group.

Damartex stabilizes its business and continues its transformation efforts towards sustainable growth

Damartex closed the 2024/2025 financial year with revenue of €521.3 Mn, almost stable compared to the previous year (-0.6% at actual exchange rates, -1.1% at like for like exchange rates). Despite a still adverse market environment, the Group’s three divisions confirm that their business is stable. In the second half of the year, the Group posted revenue of €236.7 Mn, up +1.2% at actual exchange rates (+0.8% at like for like exchange rates).

The fourth quarter was particularly buoyant for online sales, which posted positive  growth momentum in each of the Group’s divisions. Damartex thus closed its last quarter with revenue of €104.7 Mn, up +0.5% at actual exchange rates (+0.3% at like for like exchange rates).

The “Fashion” division posted revenue of €389.4 Mn in the 2024/2025 financial year, down slightly by -1.7% at actual exchange rates (-2.2% at like for like exchange rates). The Damart brand was able to offer new ranges of innovative products to its customers, but remains penalised by a still deteriorating French market and closed the year with a slight decline in sales of -2.4% at real exchange rates.  After a decline in the first six months due to the withdrawal of sales of underwear from the Thermolactyl range, the second half of the year recorded growth of +0.5% at real exchange rates. The Xandres brand continued its European development and posted solid performance, with sales up +5.7% at real exchange rates for the full year.

The “Home & Lifestyle” division  benefited from positive demand, and posted revenue of €102.7 Mn, up +3.5% at actual exchange rates over the year (+2.6% at like for like exchange rates). The 3 brands in the division posted growth in their turnover over the year.

Finally, “Healthcare” revenue amounted  to €29.1 Mn, up +1.6% at actual exchange rates. Santéol confirmed its trend of previous years and posted a +4.4% increase in sales at actual exchange rates over the year. Almadia is reaping the first benefits of the strategic repositioning of its services activities, with revenue almost stable over the year and growth of +2.5% over the last six months.

In a still deteriorating economic and commercial context, Damartex is maintaining the rigorous management of each of its activities, its costs and the proactive management of its cash flow.

In addition, the Group has entered into an agreement with its banking partners to extend its financing lines, the main features of which are: optimization of the lines with a reduction of €12.3 Mn, maintenance of financial conditions and a maturity date of August 3, 2027.

The Group is currently reviewing the ambitions of its Dare.Act.Impact 2026  strategic plan in order to take into account market trends and ensure sustainable growth in profitability.

At its annual results presentation on September 18, 2025, the Group will share the progress of the implementation and the next steps of its strategic plan