The French fashion group SMCP was able to increase its sales significantly in the 2021 financial year and return to the profit zone. This is the result of preliminary figures published on Wednesday by the parent company of the Sandro, Maje, Claudie Pierlot and De Fursac brands.
Accordingly, sales last year amounted to 1.04 billion euros and exceeded the level of 2020 by 19.0 percent. Adjusted for exchange rate changes, revenues increased by 18.7 percent. On an organic basis, however, they missed the comparative value of the pre-crisis year 2019 by 9.7 percent.
Growth in all market regions contributed to the significant increase compared to the previous year: In France, revenues rose by 9.6 percent to EUR 341.1 million, in the EMEA region, which includes the rest of Europe and the Middle East, they increased by 20 3 percent (currency-adjusted +19.6 percent) to 285.2 million euros. In America, sales grew to EUR 142.5 million (+53.0 percent, currency-adjusted +57.2 percent), in the Asia-Pacific region to EUR 269.8 million (+16.6 percent, currency-adjusted +14.5 percent). ).
Thanks to the strong increase in sales, the targeted limitation of price reductions and lower value adjustments, the group was able to make significant progress in terms of earnings. The operating profit reached a level of 62.4 million euros, after an operating loss of 81.6 million euros had to be posted in the previous year. The surplus attributable to the shareholders was 23.6 million euros. SMCP ended 2020 with a deficit of 102.2 million euros.
For the current financial year, the group forecast “solid double-digit sales growth” compared to 2021 and an increase by a mid-single-digit percentage compared to 2019. The company does not expect any major economic burdens as a result of the Russian invasion of Ukraine. SMCP explained that the revenues there had recently accounted for less than one percent of total sales. The company said the group could not decide whether to close stores in Russia because they were run by local partners. Deliveries of goods to Russia have been temporarily suspended.