Finance
23.02.2023

2022 annual results

Resilient 2022 results for the Group, confirming the power of its omnichannel model and its operational agility

Transformation of Fnac Darty into a major player, recognized for and committed to service, advice and sustainability, demonstrated by numerous successes in the execution of the Everyday strategic plan

— Resilient sales of €7,949 million in 2022, and solid gross margin performance, up by +€36 million year on year

— Current operating income of €231 million, down -€40 million compared to 2021, in a period when inflation was much higher than in previous years

— Free cash-flow from operations was down at -€30 million, mainly impacted by the negative effects of WCR and lower sales in December

— Proposed payment of a dividend of €1.40 per share, a distribution rate that complies with the shareholder return policy and is in line with that of last year

— A number of sustainability and services initiatives since the Everyday launch two years ago: more than 800,000 Darty Max subscribers, more than 430,000 sales video calls, more than 4 million products repaired, NPS above 60, up +8 points, and development of the Fnac loyalty program to reward responsible actions

— Energy efficiency measures: reduction objective of -15% of the Group’s electricity consumption in France between 2022 and 2024, investments in the stores of nearly €20 million over two years and start of the corporate PPA signed with Valeco from mid-2023

The performance for 2022 demonstrates Fnac Darty’s resilience amid a particularly tough environment for the retail sector. Our unique positioning focused on value creation, services and customer relations allows us to outperform our markets and preserve our profitability model. Fnac Darty’s resilience comes from our Everyday strategic plan being well executed and from the commitment of all our employees, mobilized for more committed and responsible consumption. (…)

Enrique Martinez, Chief Executive Officer of Fnac Darty
23.02.2023