Press release

2019 FY Results

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Robust sales growth in 2019 with 15.4% of adj. Ebitda margin Net income up +14.1%, excluding refinancing penalties

(Excluding IFRS 16 impacts)

  • FY 2019 sales up +11.3% as reported to €1,131.9 million (+8.7% at ccs. [1])
  • +14.2% of international sales growth at ccs.; solid resilience in France in a tough market
  • EBITDA up +1.6% at €174.2 million, with margin reaching 15.4%
  • Net income up + 14.1% at €59.4 million excluding refinancing penalties
  • Net financial debt/Adj. EBITDA [2] ratio at 2.2x in Dec.19 (vs. 1.6x in Dec.18) resulting from De Fursac’s acquisition
  • Update on Covid-19 virus:
    • Creation of a global crisis team to manage the situation daily since January
    • Immediate action plan put in place to mitigate the impacts on SMCP’s business
    • Liquidity already secured to face the crisis
    • Q1 2020 sales expected to be down by slightly more than 20%, as reported

[1] All references to “ccs.” in this press release correspond to sales growth at constant currency & scope

[2] Last twelve months adjusted EBITDA (excl. IFRS 16)