{"id":3511,"date":"2021-03-11T10:02:20","date_gmt":"2021-03-11T09:02:20","guid":{"rendered":"https:\/\/damartex.com\/?p=3511"},"modified":"2021-03-11T10:02:22","modified_gmt":"2021-03-11T09:02:22","slug":"results-for-the-first-half-of-the-2020-2021-financial-year","status":"publish","type":"post","link":"https:\/\/damartex.com\/en\/results-for-the-first-half-of-the-2020-2021-financial-year\/","title":{"rendered":"Results for the First Half of the 2020-2021 Financial Year"},"content":{"rendered":"\n
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Continued Transformation and Development <\/strong><\/p>\n\n\n\n

ACTIVITY<\/strong><\/strong><\/p>\n\n\n\n

Sales for the first half of the year came to \u20ac402.3 million, up +4.2% at actual rates compared with the same period last year (+4.7% at like for like exchange rate).<\/p>\n\n\n\n

Sales for the “Fashion<\/strong>” business came to \u20ac297.8 million, a slight increase of +.6% at actual rates. (+1% at a constant exchange rate). After a decline in activity in the first quarter of 2020-2021, due to the impact of the health crisis and restrictive measures, the division recorded a sharp rebound in the second quarter (+2.6% at actual rates). This momentum observed in the first half of the year, was driven in particular by the Damart brand (+1.5% at actual rates) mainly due to the excellent performance of mail order. The “Home & Lifestyle<\/strong>” business continued to grow at a dynamic rate of +12.2% at actual rates (+13.0% at like for like exchange rate) for \u20ac89.1 Mn of turnover. The division also returned to excellent momentum in the second quarter (+14.4% at actual rates) driven by the favourable reception given to the renewed Coopers of Stortford range, as well as strong growth in the 3Pagen and Vitrine Magique brands.<\/p>\n\n\n\n

Finally, the recently created “Healthcare” <\/strong>division, dedicated to healthcare activities, confirmed its objectives with an increase of +47.3% at actual rates (+48.1% at like for like exchange rate) with a turnover of \u20ac15.4 million. This growth is supported by the two brands that make up the division: Sant\u00e9ol (integrated in 2020) and Sedagyl.<\/p>\n\n\n\n

RESULTS<\/strong><\/strong><\/p>\n\n\n\n

The operating EBITDA<\/strong> closed with a significant increase to \u20ac26.6 Mn<\/strong> (compared with \u20ac11.5 million in the previous financial year). This performance is explained by the rebound in activity recorded mainly in the second quarter of 2020, combined with a careful policy of cost control, particularly in marketing, in order to prudently address a deteriorated market environment.<\/p>\n\n\n\n

The current operating income<\/strong> (so-called ROC) therefore shows strong growth at \u20ac15.3 million <\/strong>(compared with \u20ac2.4 million in the previous financial year). This performance applies to all the “Fashion”, “Home & Lifestyle” and “Healthcare” divisions, with a ROC of \u20ac8.5 Mn, \u20ac5.4 Mn and \u20ac1.4 Mn respectively. Net earnings stand at \u20ac11.1 Mn<\/strong> (compared with \u20ac1.9 Mn for the previous financial year).<\/p>\n\n\n\n

Damartex thus returned to a good level of profitability in the first half of the year, confirming the trend initiated in the 2019 financial year.<\/p>\n\n\n\n

FINANCIAL POSITION <\/strong><\/strong><\/p>\n\n\n\n

The net financial position stands at \u20ac+17.9 Mn<\/strong> (against \u20ac-42.5 million in the previous financial year). This increase is the result of the growth in activity and is mainly based on two levers:<\/p>\n\n\n\n