Fnac Darty: confirms outlook for 2024

(CercleFinance.com) - The Fnac-Darty group has reported Q1 sales of E1,793m, up +0.
7% on Q1 2023 as reported (-0.8% LFL).

The group's gross margin increased by 10bp from Q1 2023. Adjusted for the dilutive impact of the franchise, it is up 30bp.

In a market with contrasting performances, the group is once again demonstrating the relevance of its sustainable, omnichannel and service-oriented strategy, management said.

Fnac Darty confirms that growth is set to resume in 2024, underpinned by falling inflation and a declining savings rate. The group confirms its objective of achieving Operating Income Recurring (OIR) for 2024 at least equal to that of 2023, and cumulative operating free cash flow of around E500m over the period 2021-2024, i.e. E180m in 2024.


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