SMCP posts sales recovery over Q2, plans to grow China business

SMCP In the third quarter of 2020, consolidated sales at SMCP, parent company of Sadro, Maje, Claudie Pierlot reached 248.4 million euros, down 10.6 percent on an organic basis. Reported sales were down 9.5 percent, including a negative currency impact of 1 percent mostly in Americas and APAC, while De Fursac’s contributed positively at 2 percent. SMCP managed to partially offset the impact of the crisis through a strong performance in e-commerce of 27.6 percent of sales growth. In its investor day presentation, the company said that it plans for more than 10 percent sales growth at constant currency in 2023 compared to 2019, sales CAGR above 6 percent at constant currency between 2023 and 2025, adjusted ebit margin of 10.5 percent in 2023 and more than 12 percent in 2025.