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SMCP sandro maje claudie pierlot fursac 2021 H1 Results Press release - Paris , September 3rd , 2021 Strong rebound with EBIT and Net Income back to positive Solid Free Cash Flow generation о Solid sales performance vs H1 2020 : up + 21.6 % as reported to € 453.3 million ; + 23.3 % on an organic¹ basis , despite store closures and restrictions , low traffic , and lack of tourism 。 Strong double - digit growth in Mainland China , reaching + 54.6 % on an organic basis vs H1 2020 , and + 24 % as reported vs H1 2019 о Confirmed momentum in the U.S. , going from strength to strength Back to positive adj . EBIT , reaching € 25.2m ( 5.6 % of sales ) , and positive Net Income о Focus on Capex and Working Capital leading to a solid Free Cash Flow generation of € 20.2m , vs - € 56.7m in H1 2020 о Healthy liquidity headroom of more than € 240m Commenting on these results , Daniel Lalonde stated : “ We delivered a solid performance in H1 2021 in all regions , particularly in APAC and in the U.S. , where our sales exceeded or were back to their pre- pandemic levels . Despite challenging market conditions , our EBIT is back to positive thanks to a strong discipline on costs and expenses . Our focus on capex and working capital management enabled us to deliver a strong performance in terms of Free Cash Flow . Over the course of the semester , we also managed to improve our financial structure by significantly reducing our leverage ratio . This overall performance has been possible thanks to the day - to - day contribution of our teams around the world , and I would like to thank them for enabling us to successfully overcome the challenges of the first six months of the year . Isabelle Guichot , CEO of SMCP , added : " Looking beyond the numbers , we have also made strong progress on each pillar of our One Journey strategic plan . On Brand Desirability , we have notably been able to increase full price sales and develop new store initiatives in order to enhance in - store 1 Organic growth | All references in this document to the " organic sales performance " refer to the performance of the Group at constant currency and scope 1