Maisons du Monde 165 0 Kommentare Full-Year 2020 Trading Update

PRESS RELEASE

MAISONS DU MONDE: FULL-YEAR 2020 TRADING UPDATE

Solid performance demonstrating business model resilience

NANTES – 28 January 2021, 17:45 CET – Maisons du Monde (Euronext Paris: MDM; ISIN: FR0013153541), a European leader in affordable and inspirational household decoration and furniture, today announces its estimated, unaudited fourth quarter and second-half 2020 sales¹.

Strong second half sales: c. €693 million (+4.8% yoy; +3.0% LFL)
- 4^th quarter:
  - Total sales: c. €372 million (-1.5% yoy; -2.2% LFL)
  - Online sales up by c. 41%
  - Store sales decrease limited to c. 13% yoy given second lockdown

FY sales above expectations: c. €1,182 million (-3.5% yoy; -6.6% LFL), of which 33% online

Year-end store network in line with forecast:
- 369 stores; total commercial space of 436,000 m² (stable yoy)

Julie Walbaum, Chief Executive Officer, commented: “In an exceptional pandemic context marked by lockdowns and other health measures, Maisons du Monde demonstrated strong resilience in 2020, notably in the second half and during the holiday season, allowing it to post full-year sales above expectations. The Group is well positioned to capitalize on the acceleration in online sales, which, supported by the early success of its marketplace launched in November, reached one-third of total sales in 2020.”

The Group’s fourth-quarter 2020 sales totaled c. €372 million, representing a slight year-on-year (yoy) decrease of -1.5%² (-2.2% LFL). Sales were negatively impacted by the circa 4-week closure, mainly in November, of most European stores. The Group estimates that the total lost sales from this Covid-19-related lockdown were approximately €50 million in Q4 (-€60 million stores, +€10 million online).

Online sales increased by 41% to reach c. €114 million, representing 31% of total Group sales.

Store sales declined 13% to c. €258 million due to the lockdown mentioned above, while benefitting from brisk activity in October and December.

Sales in France were c. €206 million (compared to €214 million in 4Q 2019).

International sales totaled c. €166 million and represented 45% of total sales (vs 43% in Q4 2019), including Modani’s sales, which were up 24% yoy to c. €15 million.

Decoration sales were stable yoy at c. €232 million, reflecting the commercial success of the Group’s new collections in the second half of 2020.

Furniture sales benefited from the Group’s successful efforts to secure best-seller SKUs during the quarter. These were partly offset by the continuing sub-optimal inventory levels resulting from ongoing pressure on the furniture supply chain. Overall, the drop in furniture sales in the 4^th quarter was limited to less than c. 4%.