Fnac Darty SA

FNAC

Equity

ISIN FR0011476928 / Valor 21309328

Euronext - Euronext Paris (2024-12-23)

EUR 27.55+0.92%

Fnac Darty SA
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About company

Fnac Darty SA, a prominent European retailer, specializes in distributing entertainment and leisure products, consumer electronics, and household appliances. With a workforce of nearly 25,000 employees, the company boasts a substantial presence across 13 countries. As of the end of December 2023, Fnac Darty operates over 1,000 stores, showcasing its extensive multi-format network. The company has also established itself as a significant force in the e-commerce sector, particularly in France, where its websites—fnac.com, darty.com, and natureetdecouvertes.com—draw in more than 27 million unique visitors monthly. This digital prowess contributed to the company's impressive sales figures, which reached approximately €8 billion in 2023, with online sales accounting for 22% of this total. Fnac Darty's success is underpinned by its strategic omnichannel approach, blending physical retail with a strong online presence to meet diverse consumer needs.

Summarized from source with an LLMView SourceSector: Business Services

Revenue

Fnac Darty SA reported revenue of €7,875 million for the full year of 2023, which represents a slight decrease of 0.9% compared to 2022. On a like-for-like basis, the revenue decline was 1.1%. Despite the challenging economic environment marked by high inflation, the company managed to maintain relatively stable revenue figures.

Gross Margin

The gross margin for Fnac Darty SA in 2023 was €2,380 million, down slightly from €2,410 million in 2022. The gross margin rate remained stable at 30.2%, compared to 30.3% in the previous year. This stability was achieved despite the negative impact of the product mix, which was offset by a positive impact in the channel mix and growth in services.

Operating Income

Fnac Darty SA's current operating income for 2023 was €171 million, a decrease of €60 million from the €231 million reported in 2022. The operating margin rate also declined to 2.2% from 2.9% in the previous year. The drop in operating income was partly due to increased operating costs and a sharp decline in sales in Spain and for Nature & Découvertes in the fourth quarter.

Net Income

The net income from continuing operations, group share, adjusted for Fnac Darty SA in 2023 was €31 million, down significantly from €104 million in 2022. The unadjusted net income from continuing operations, group share, was a loss of €75 million, compared to a profit of €100 million in the previous year. This decline reflects the challenging economic conditions and increased costs faced by the company.

Free Cash Flow

Fnac Darty SA reported a free cash flow from operations, excluding IFRS 16, of €180 million for 2023, a significant improvement from a negative free cash flow of €30 million in 2022. This positive change of €210 million highlights the company's efforts in managing its cash flow effectively despite the challenging economic environment.

Summarized from source with an LLMView Source

Key figures

3.96%1Y

-51.5%3Y

-46.8%5Y

Performance

38.9%1Y

32.3%3Y

37.3%5Y

Volatility