H1 2023 Results

Good sales performance driven by APAC and Europe Resilient profitability in a challenging environment Extension of financing successfully secured

• H1 2023 Sales at €610m, a progression of +8% on an organic (1) basis (+9% at constant exchange rates) vs. H1 2022, despite a high comparison basis. The performance comes from both like-for-like (+5%) and from network expansion;
• Good performance in Europe despite a challenging environment in France and a high basis of comparison. After two years with an outstanding performance, slight decline in America in the first semester, particularly in Canada, offset by US resilience. Asia Pacific’s strong improvement of trend during the semester with Mainland China back to growth and a good performance in the rest of the region;
• Store network is increasing in the second quarter (23 net openings) to reach 1,658 POS;
• Adjusted EBIT at €36m (6% of sales) from €45m in H1 2022 (8% of sales) impacted by inflation and old seasons liquidation plan;
• Net profit at €14m from €21m in H1 2022;
• Sound balance sheet structure and financial flexibility secured in the mid-term;
• Confirmation of 2023 objectives.

(1) Organic growth | All references in this document to the “organic sales performance” refer to the performance of the Group at constant currency and scope