INVESTOR PRESENTATION
MAY 2024
LEADING EUROPEAN OMNICHANNEL RETAILER WITH A DIVERSE AND BALANCED RANGE OF PRODUCTS AND SERVICES
2023 revenue breakdown by category
€7.9bn Group revenue in 2023 - ~25,000 employees | 15% | Consumer electronics |
Top European omnichannel retailer | Editorial products | |
• 70 million+ checkout transactions | 20% | 47% |
Domestic appliances | ||
• 22% of total sales in 2023 are online sales | ||
• 50% of online sales are omnichannel (click & collect) | Other products and | |
18% | ||
services 3 | ||
High level of customer satisfaction: +2pts NPS 2023 vs 2022 | ||
1,010 multiformat stores1 | 2023 revenue breakdown by region |
• | 437 franchises stores (43%) | 8% |
• | c. 90% of customers have a store less than 15' from home | |
9% | ||
France and Switzerland
No. 1 after-sales service in France2 | Iberian peninsula | |
• 2.5 million products repaired in 2023 | ||
• c. 3,000 employees dedicated to after-sales service | Belgium and | |
• 1.1 million+ Darty Max subscribers | 83% | |
Luxembourg | ||
• 11 million members / subscribers | ||
1 As of 31 December 2023 | 2 | ||||
2 | Internal customer studies | ||||
3 | Including ticketing, B2B, after sales service, franchise fees, insurance, consumer credit |
OUR STRATEGY BUILT TO STRENGTHEN OUR POSITIONING AND CAPTURE GROWTH
Build a digitized omnichannel retail
- Best-in-classonline capacities
- A profitable and digitized store network
- A high-value offer
Scale the next in-homesubscription-based assistance service
- Unlocking the full potential of our exclusive unlimited repairs subscription program
Lead durable behaviors
- A more sustainable offer, combined with customers' orientation towards sustainable products
- The promotion of responsible behaviors, notably through eased access to repair
3
BUILD A DIGITIZED OMNICHANNEL RETAIL
Best-in-class online capacities
A profitable and digitized store network, fostering the expertise of
salespeople and digital footprint
An uncompromised acceleration to offer high-value products to all
50% | 100% |
of online revenue | of stores |
from Click & Collect | profitable by 20251 |
1. Group owned stores perimeter | 4 | ||
LEAD DURABLE BEHAVIORS
A more durable offer, combined with customers' orientation towards durable products
The promotion of responsible behaviors, notably through eased access to repair
135 | c.2.5M |
"sustainability score" | products repaired |
by 20251 | in 20252 |
1. Products durability scores weighted by volumes
2. Repaired or dysfunction resolved
5
SCALE THE NEXT IN-HOMESUBSCRIPTION-BASED
ASSISTANCE SERVICES
Unlocking the full potential of our exclusive unlimited repairs subscription program
To become the leader of in-home assistance solutions
1M | >2M |
subscribers at | subscribers |
end-Sept 2023 | by 2025 |
6
FNAC DARTY PROFILE IN 2025
135 | c.2.5m |
"Durability score" | Products repaired in 20256 |
by 20255 |
>30% | >2M |
Online revenue penetration | Subscribers to our unlimited repairs |
by 2025 | subscription program by 2025 |
c.€120m | ≥ €240m |
Total annual normative capex budget | Run rate Free Cash Flow3 in 2025 |
over the period by 20252 |
1Group owned stores perimeter
2Excluding major strategic initiatives
3Net cash provided by operating activities excluding net financial charges less net operating investments and cash impacts relating to rents within the scope of IFRS 16
-50%
Transport & energy CO2 emissions in 2030 vs 2019
100%
Stores profitable by 20251
Conservative
Financial Policy
Leverage4 of max 2.0x
Shareholder Return
>30% mid-term payout ratio
Add. opportunistic shareholder
return
4. Leverage measured with net debt excluding IFRS16 and 12-month rolling EBITDA
excluding IFRS16 | 7 |
5. Durability scores weighed by volumes |
6. Repaired or dysfunction resolved
ENSURING SUSTAINABLE SHAREHOLDER RETURNS
Increased
Free Cash Flow
+
Controlled net debt
Leverage1(net debt/ EBITDA)
of max 2.0x
Fund profitable growth
Reinvest in the business
Tactical bolt-on M&A
+
Shareholder return policy
Opportunity-driven decision
Incremental
shareholder return
Leverage1 of max 2.0x
Via special dividend or share buyback
1. Leverage measured as of end of June with net debt excluding IFRS16 measured as | 8 | ||
of end of June and 12-month rolling EBITDA excluding IFRS16 | |||
2023 FULL-YEAR RESULTS
MARKET CONTEXT
Change in VALUE of the French market | ||||
(base of 100 in 2019) | ||||
2019 | 2020 | 2021 | 2022 | 2023 |
DOMESTIC APPLIANCES
CONSUMER ELECTRONICS
EDITORIAL PRODUCTS
Change in VOLUME of the French market | ||||
(base of 100 in 2019) | ||||
2019 | 2020 | 2021 | 2022 | 2023 |
A retail sector undergoing a profound transformation, with some players struggling and a greater focus on specialists
An e-commerce market with lower-than-expected growth, primarily impacting pure players
Source: GfK - France
10
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Fnac Darty SA published this content on 24 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 May 2024 08:57:07 UTC.