Fnac Darty announces its Q3 2023 Revenue

Continued implementation of the strategic plan Everyday

Resilience of revenue in Q3 2023 in a deteriorated environment

2023 Current operating income expected to be around €180 million[1]

  • Q3 2023 revenue stable at €1,840 million, -0.5% on a reported basis and -0.1% on a like-for-like basis[2] compared to Q2 2022
  • Sales for the first nine months of the year at €5,184 million, -1.8% on a reported basis and -1.5% on a like-for-like basis[2] compared to 9m 2022, impacted by poor second quarter performance
  • Gross margin rate of 30.4%, up +40 bps over the first nine months of the year, excluding dilutive impact from franchise
  • Agreement for the creation of a joint venture dedicated to e-commerce logistics and SaaS Marketplace with CEVA Logistics
  • Closing of the acquisition of MediaMarkt in Portugal, which is consolidated from 1 October 2023
  • Positive ruling from the Court of Appeal in London in the Comet disposal

Fnac Darty sales were stable in the third quarter, outperforming its respective markets in an environment that remains under inflationary pressure and marked by a deteriorated consumer confidence. We are continuing to successfully implement our strategic plan Everyday: Darty Max, our trademark unlimited repair service, passed the million-subscribers mark and we have signed an ambitious agreement with CEVA Logistics, a subsidiary of CMA-CGM, to create an e-commerce logistics joint venture (…)

Enrique Martinez, Chief Executive Officer of Fnac Darty

[1] Compared with the guidance of “around €200 million” communicated on February 23, 2023

[2] Like-for-like basis excludes effect of changes in foreign exchange rates, changes in scope, store openings and closures