Results for the first half of the 2024/2025 financial year
Damartex takes advantage of the first positive effects of its strategic plan and improves operating profitability
ACTIVITY & PERFORMANCE BY DIVISION
Damartex closed the first half of the 2024/2025 financial year with sales of €284.6 Mn, slightly down compared to the previous year (-2.0% at actual exchange rates and -2.6% at like for like exchange rates).
The “Fashion” division’s sales amounted to €218.6 Mn for the half-year, down -3.6% at actual exchange rates (-4.2% at like for like exchange rates). While the Xandres brand continues to perform well in recent quarters (+8.8% compared to the same period of the previous year), Damart has observed a decline in its business, impacted by lower-than-expected seasonal demand for underwear from the Thermolactyl range.
The ” Home & Lifestyle ” division returned to growth, driven by the operational and strategic choices made by the Group, and closed the half-year with sales of €51.5 Mn, up +4.1% at actual exchange rates (+2.9% at like for like exchange rates). This trend is supported by a strong performance in digital sales.
Finally, the ” Healthcare ” division posted sales of €14.5 Mn, up +3.0% over the first half at constant real exchange rates. Faced with the closure of Almadia’s mail-order channel, the teams implemented a targeted reorganization over the period in order to optimize the transition and ensure the continuity of operations.
FINANCIAL RESULTS
The Group’s operating EBITDA was €12.6 Mn, compared with €6.6 Mn last year. This significant improvement towards better profitability is the result of continuous work on margins and the optimisation of marketing costs and fixed costs.
Operating EBITDA amounted to €12.4 Mn for the “Fashion” division, with a clear increase in the profitability of the Damart brand and a historic first half in terms of profitability for Xandres. The “Home & Lifestyle” division closed the half-year with an EBITDA of -€1.9 Mn, mainly penalized by supply tensions, which caused delivery delays and therefore pressure on distribution costs. The “Healthcare” division continued its development and posted an EBITDA of €2.1 Mn.
Damartex closed this half-year with a net income from continuing operations of -€2.6 Mn compared to -€10.9 Mn for the 1st half of 2023/2024.
FINANCIAL POSITION
The net financial position stood at -€101.8 Mn at the end of December 2024 (compared to -€104.7 Mn at the end of June 2024), illustrating the actions taken on profitability, proactive inventory management and investments made by the Group in the first half of the year.
Working capital requirements amounted to €18.6 Mn at the end of December 2024, compared to €33.3 Mn last year.
PERSPECTIVES
Now led by Nicolas Marchand, CEO since February 2025, Damartex intends to continue and strengthen this positive dynamic, with the primary objectives of returning to profitability and customer satisfaction.
Benefiting from the concrete effects of the first phase of its DARE.ACT.IMPACT 2026, the Group confirms its relevance and is committed to effectively deploying the second chapter, focused on the sustainable growth of its activities.