SMCP 2023 sales grow but profit plummets

SMCP reported FY23 sales of 1,231 million euros, a progression of 4 percent at constant exchange rates and 3 percent on an organic basis versus 2022.

The company parent to ​​Sandro, Maje, Claudie Pierlot and Fursac, reported sales of 326 million euros, in line with 2022 at constant exchange rates and down 1 percent on an organic basis.

Adjusted EBIT reached 79.5 million euros or 6.5 percent of sales) in the full-year, while net profit was 11 million euros.

Commenting on the results, Isabelle Guichot, CEO of SMCP, said in a statement: “In a deteriorating macroeconomic environment marked by a slowdown in consumption and high inflation, SMCP achieved double-digit growth in Asia and resilient sales in Europe and the United States. A similar trend is expected for 2024, at least in the first half of the year.”

In France, SMCP’s sales reached 413 million euros, stable in organic vs 2022 and the network grew with 12 POS openings in 2023. In EMEA, sales reached 389 million euros, an organic increase of 3 percent.

In America, sales reached 173 million euros, down 3 percent compared to 2022. The network increased by 17 net POS openings in 2023. In APAC, sales reached 255 million euros, up 13 percent versus 2022. The network increased by 17 net POS openings in 2023.