Revenue for the First Nine Months of the2022/2023 Financial Year
A resilient and high-growth Health division, in an environment that remains difficult and uncertain.
Damartex closed the third quarter of the 2022/2023 financial year with a turnover of € 153.9 Mn, down from the previous year (-11,1% at actual exchange rates, -9,8% at like-for-like exchange rates). With the notable exception of healthcare – a, essential sector, the context in which the Group operates remains marked by a contraction in consumption. Damartex continues to suffer the effects of inflation and the loss of purchasing power of households, particularly senior citizens in the clothing and home equipment sector, and particularly in the German and English markets.
Over the first nine months of the financial year, Damartex posted revenue of € 518.5 Mn, down -9,8% at actual exchange rates (-9,3% at like-for-like exchange rates).
The “Fashion” division recorded revenues of € 402.0 Mn over the first nine months, down -7.1% at actual rates (-6.7% at like-for-like exchange rates). In the third quarter, sales decreased by -8.4% at actual rates (-7.3% at like-forlike exchange rates). The Damart and Afibel brands were down -9.9% actual rates (-8.6% at like-for-like exchange rates) and -16.1% respectively. With the exception of Thermolactyl which continues to perform well, the activity is still marked by a slowdown in consumption for leisure / pleasure purchases. The Xandres banner posted a revenue growth of +24.0%, driven by the Belgian store
network and its brand positioning.
Revenue from the “Home & Lifestyle” division stood at € 85.3 Mn, down -27,2% at actual rates (-26,4% at like-for-like exchange rates) over the first nine months of the financial year. In the third quarter, sales amounted to € 27.2 Mn, down -26,5% at actual rates (-24,9% at like-for-like exchange rates). 3Pagen and
Coopers of Stortford remain negatively impacted by the external environment.
The “Healthcare” division, dedicated to the health business, continues its strong performance and posted revenue growth of +25.5% at actual rates over the first nine months of the year, at € 31.2 Mn. The division continues to demonstrate its resilience, particularly through the strong growth of Santéol and the development of MSanté. In the third quarter, the business recorded an increase of +16.8% at actual rates (+17,8% at like-for-like exchange rates) to € 9.6 Mn.
Outlook
Despite a still difficult commercial situation that continues to significantly affect the sales of its main businesses and thus impact its financing capacities, the Damartex Group can count on the dynamism of its Healthcare division to continue to deploy its transformation plan. In the coming months, the Group intends to pursue its activities by demonstrating agility in the face of a still complicated and uncertain economic context, encouraging caution and flexibility.