SMCP's net income and turnover jump in 2018

In 2018, consolidated sales at SMCP, the parent company of Sandro, Maje and Claudie Pierlot were 1,017.1 million euros (1,159.5 million dollars), up 13 percent at constant currency and in line with the upgraded full year guidance. Adjusted EBITDA increased by 11.6 percent to 171.5 million euros (195.4 million dollars), resulting in an adjusted EBITDA margin of 16.9 percent, while SMCP said, adjusted EBIT increased by 14 percent to 135.3 million euros (154.1 million dollars), resulting in an adjusted EBIT margin of 13.3 percent. The group net income rose to 50.2 million euros (57.2 million dollars) in 2018, while diluted EPS stood at 0.687 euros compared to 0.015 euros in 2017.

Commenting on the report, Daniel Lalonde, SMCP’s Chief Executive Officer, stated in a statement: “Market conditions have been challenging, particularly in Q4, but SMCP demonstrated, once again, the strengths of its unique business model and delivered best-in-class performance. For 2019, we are confident of our ability to deliver our roadmap in a volatile environment. We will notably focus on accelerating our digital journey, strengthening our international platform and driving forward retail excellence to fuel future growth and brand desirability.”

SMCP posts like-for-like sales growth of 3.7 percent

The company said, the total turnover growth included like-for-like sales growth of 3.7 percent, despite challenging market conditions in the fourth quarter. Full-year reported sales were up 11.5 percent, including a negative currency impact of 1.6 percent.

Over the last twelve months, SMCP, added that the company’s net openings reached 134 points of sale, including 102 directly operated stores. These openings took place in all the international regions with 59 POS in APAC, 49 in EMEA and 19 in the Americas. In 2018, SMCP’s digital sales, which now represent 14.7 percent of total sales, also increased.

For the year 2019, SMCP is targeting a sales growth of between 9 percent and 11 percent at constant currency and a stable adjusted EBITDA margin compared to 2018.

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