2023 FY Results

Good sales resilience; profitability impacted by inflationary environment Acceleration in 2024 of action plan to boost growth and profitability

• FY 2023 Sales at €1,231m, a progression of +4% at constant exchange rates (+3% on an organic (1) basis) vs. 2022, which was a high basis of comparison
• Growth driven by APAC despite a lower-than-expected sales trend in China. Good resilience in the Americas, with a sequential improvement of the second half. Europe, and France in particular, impacted by the slowdown in demand, which progressively intensified throughout the year
• Q4 sales at €326m, in line with 2022 at constant exchange rates (-1% on an organic1 basis)
• Store network expansion with 47 net openings in 2023 to reach 1,730 POS
• Adjusted EBIT improvement in H2 to reach €79.5m (6.5% of sales) in full-year
• Net profit of €11m, €37m excluding non-recurring impacts (non-cash)
• Improvement of cash generation in H2 (€23m); net debt reduction vs 2022
• Major achievements in ESG ratings: Sustainalytics score improvement, CDP A- (from B in 2022) and validation of carbon footprint strategy by SBTi
• Acceleration in 2024 of mid-term action plan through 4 key priorities:
  – Reignite growth and gain market shares
  – Mitigate risk across geographies
  – Improve efficiency
  – Protect profit, cash and liquidity