Lalique Group announces its 2023 results - Seite 2

Total operating revenue for Lalique Group rose to EUR 179.2 million, a 5% increase on the prior-year result, which had been marked by post-pandemic recovery. Excluding the previously announced extraordinary income of EUR 1.7 million in the 2022 result, operating revenue for 2023 increased 6% on the previous year.

Operating expense in 2023 particularly reflected general inflationary trends and higher energy costs. These effects were offset to some degree by corresponding price increases, albeit with a certain delay. Lalique Group continued to make targeted investments in expanding its workforce and in its marketing and sales activities. Personnel costs for 2023 amounted to EUR 46.9 million, a year-on-year increase of 12%. Other operating expense rose 13% to EUR 31.5 million. Depreciation and amortization were 9% below their 2022 level at EUR 14.4 million, reflecting a EUR 1.5 million impairment reversal.

Earnings before interest and taxes (EBIT) for the year totalled EUR 7.0 million, down from EUR 13.2 million in 2022. In line with guidance, EBIT margin for 2023 was 3.9%, following an EBIT margin of 7.7% for 2022, or 6.8% excluding the year’s extraordinary income item. Lalique Group reported a net profit for 2023 of EUR 2.4 million, compared to EUR 9.6 million for the prior year.

Lalique Group remains in sound financial health with a 2023 year-end equity ratio of 47.3% (2022: 50.0%). Net cash at year-end was below its prior-year level, owing largely to higher inventories of production components maintained during the year, in response to longer delivery lead times and in order to safeguard production.

In the light of the 2023 results, the Board of Directors will recommend to shareholders at the Annual General Meeting on 29 May 2024 that no dividend be distributed for the 2023 financial year (dividend for 2022: CHF 0.50 per share).

“We achieved solid growth in 2023,” said Roger von der Weid, executive Vice Chairman of Lalique Group. “However, market and production conditions were challenging, especially in the first-half period, and intermittently impacted our business performance. In addition, profitability was impacted by inflation and high energy costs. Therefore, and in view of further investments that we have planned in our production capacities and new project ventures, the Board of Directors proposes that no dividend be paid for 2023. Looking ahead, we are well equipped with our strong brands at Lalique to take advantage of the opportunities within the luxury goods market.”