The French clothing group SMCP closed the 2022 financial year with a high increase in sales. The parent company of the Sandro, Maje, Claudie Pierlot and De Fursac brands was able to more than double its net profit. This emerges from a statement published by the company on Thursday.
Accordingly, group sales last year reached EUR 1.21 billion, exceeding the level of 2021 by 16.1 percent. On an organic basis – i.e. adjusted for currency effects and changes in the Group portfolio – sales grew by 13.1 percent.
The clothing supplier owed the strong increase to significant increases in Europe and America. In France, revenues increased by 21.3 percent (organic + 23.3 percent) to 414 million euros, in the EMEA region, which includes the rest of Europe, the Middle East and Africa, they increased by 32.2 percent (organic + 31.1 percent) to 377 million euros.
Sales in America amounted to EUR 184 million, exceeding the previous year’s level by 29.3 percent (+16.0 percent organically). However, the company was having problems with the temporarily tightened protective measures against the Covid 19 pandemic in China. They ensured that sales in the Asia-Pacific region shrank by 14.4 percent (organically -20.0 percent) to 231 million euros.
Last but not least, thanks to the targeted restriction of price reductions, the group improved its earnings before interest and taxes (EBIT), adjusted for special effects, by 15.4 percent to 110.5 million euros. At EUR 51.3 million, the net profit attributable to the shareholders was more than twice as high as in 2021 (+114.4 percent).
For 2023, the group is now targeting sales growth in the mid to high single-digit percentage range. Efforts are also being made to increase the EBIT margin adjusted for special effects. Last year it was 9.2 percent.