Earnings release
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MAISONS DU MONDE PRESS RELEASE MAISONS DU MONDE : FIRST - HALF 2021 RESULTS Strong growth in sales and profitability in the half Full year guidance confirmed NANTES 28 July 2021 , 07:45 CEST - Maisons du Monde ( Euronext Paris : MDM ; ISIN : FR0013153541 ) , a European leader in affordable and inspirational household decoration and furniture , today publishes the Group's unaudited consolidated results 1 for the first six months of 2021 . Conference call to be held at 09:00 CEST ( see details page 13 ) . • Strong sales growth : € 663 million ( + 36 % , + 35 % LFL ; + 12 % LFL vs H1 19 ) Sharp improvement in profitability : EBIT € 52 million ( vs - € 7 million H1 20 ) 。 All - time high 1st half EBIT margin of 7.9 % ( vs -1.5 % in H1 20 ; 5.4 % in H1 19 ) 。 Free cash flow of € 57 million ( vs 43 million at 30 June 2020 ) Full year guidance confirmed despite Covid - related uncertainty and global supply chain imbalances Julie Walbaum , Chief Executive Officer of Maisons du Monde , commented : " We are very pleased with our first half performance , and I'd like to thank our teams for their commitment and adaptability in the face of ongoing challenging circumstances . With strong growth both in sales and profitability , Maisons du Monde's results attest to the continued appeal of our model and the sound execution of our strategic priorities to achieve a balanced growth equation . The selective marketplace we launched on our French website last November continues to show an outstanding performance , already reaching 20 % of our French online GMV in the first half . Our ongoing onboarding of new partners enables us to offer over nearly 600 brands to our customers , with customer experience steadily at par with our own ecommerce activity . As we enter the second half of the year , uncertainty in the environment remains high due to recent and ongoing supply chain disruption in Asia , as well as possible impact of the pandemic on commercial activity . Despite the adverse context , our excellent performance to date enables us to confirm our full - year guidance , and I trust our teams to remain fully focused on everyday operational excellence and our strategic priorities . " First Half Key Figures ( in € million ) Sales2 Like - for - like EBIT As a % of Sales Net Income Diluted EPS ( in € ) Free Cash Flow Net debt³ Leverage³ 1 IFRS 16 ; the audit of the first half 2021 financial results is being finalized . % 2021 662.6 647.5 2020 change 488.9 + 35.5 % 478.1 + 35.4 % 52.4 ( 7.3 ) nm 7.9 % -1.5 % 20.5 ( 20.4 ) nm 0.42 ( 0.35 ) 57.2 42.6 + 34.3 % 41.3 96.4 -57.2 % 0.2x 0.7x 2 Defined as merchandise sales and service revenue & commissions less franchise and promotional sales ( € 2.5 mn in 1H21 and € 1.5 mn in 1H20 ) . 3 Net debt ( less IFRS 16 finance leases ) divided by LTM EBITDA as calculated under IAS 17 as per the Senior Credit Facilities Agreement . 2020 net debt and leverage data are at 31 December 2020 . 1