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Results for the 2022/2023 Financial Year

A Year Dedicated to Securing the Group’s Future. Launch of the New Strategic Plan


Damartex ended the 2022/23 financial year with sales of €650.4 Mn, down on the previous year (-9.5% at actual exchange rates, -9.0% at like-for-like exchange rates), still impacted by the unfavourable macroeconomic environment and the contraction in consumption observed in certain markets, particularly in Great Britain.

The Fashion Division’s sales came to €498.4 Mn, down -6.9% at actual exchange rates, despite a good performance from the store channel (+9.3%) and the Xandres banner (+22.1%).

The Home & Lifestyle division posted sales of €111 Mn, down -24.8% at actual exchange rates, still affected by the fall in demand for home items, particularly in the UK.

The Healthcare Division maintained its excellent growth momentum, posting a solid performance with sales of €41.1 Mn, a significant increase of +14.3% at actual exchange rates. During the financial year, the Group concentrated on integrating the acquisitions made in this division.


The Group’s operating EBITDA came to €-0.9 Mn, compared with €8.9 Mn last year, reflecting the fall in activity over the financial year.

With inflation still high and continuing to weigh on both demand and costs, the Group has implemented strict steering of its marketing costs, while maintaining commercial efficiency. More generally, Damartex has continued to manage its business very rigorously, by making impactful operational and strategic decisions. Against this backdrop, priority was given to securing the Group’s future.

Operating EBITDA came to €+3.9 Mn for the Fashion Division, reflecting the robustness of Damart and the dynamism of Xandres, and €-8.9 Mn for the Home & Lifestyle Division, as a direct consequence of the general fall in demand, while the Healthcare Division posted an operating EBITDA of €+4.1 Mn, thanks to a business less exposed to the economic conditions.

The Damartex Group ended the 2022/23 financial year with a net loss of €‑32.6 Mn.


The net financial position was €-81.9 Mn as of the end of June 2023 (against €‑48.0 Mn as of the end of June 2022). While the Group is vigilant in view of the current environment, it is nonetheless maintaining the investments necessary to achieve its ambitions, focusing mainly on digitalizing its activities.

The Working Capital Requirement stood at €31.6 Mn at end-June 2023, virtually unchanged from the previous year. This level reflects both the adjustment of purchases to demand and the net improvement/reduction in inventory levels, thanks to the Group’s proactive and efficient steering.


Considering the impact of the economic situation and the Group’s transformation momentum, the Management Board will not propose the distribution of a dividend at the Annual General Meeting scheduled for 16 November 2023.


As it is firmly committed to its ambition of becoming a European reference in the Silver Economy, the Group has structured the next stages of its development in its new 3-year strategic plan: DARE. ACT. IMPACT. 2026

This roadmap is built around four main complementary areas:

  • Delivering Financial performance: Many initiatives will be put in place to optimize the operational profitability of each division. In this context, the Group has decided to put the Afibel business up for sale to concentrate its efforts and investments on a limited number of brands. In July 2023, the Sédagyl & Médical Santé brands were merged within the new Almadia entity to provide a single, comprehensive ageing-in- place offering. With its experience of steering in time of crisis, the Group has also launched a cost-cutting plan that will generate annual savings of €9 Mn.
  • Innovative Brand Experience: Across its three divisions, the Group will focus its investment on developing the image and influence of its brands to create a resolutely innovative customer-patient experience.
  • Change Our World: as it is aware of its social role, Damartex is stepping up its current momentum to achieve its ambition of reducing its carbon footprint by 25% by 2026.
  • Shared Leadership: The Group is paving the way for a different kind of leadership, based on autonomy and shared responsibility.

After this year of transition/security, Damartex intends to continue its proactive and rigorous management of its activities to continue to face up to cyclical crises and to guarantee its long-term future.