High-end French furniture business Roche Bobois has reported a growth in half year revenues as it continued to expand its US presence.
According to its latest trading update for the half year 2022, sales increased 27.2% to €203m from €159.6m, representing a new half-year turnover record.
EDITBA rose 52.8% to €47.9m from €31.4m, with net profit resulting at €20.1m, up 124.5% from €9m.
Commenting on the results, Roche Bobois said: “In a less favourable global economic context, the Group delivered a record half-year performance for both sales and earnings, once again demonstrating the strength and resilience of its model and the remarkable appeal of its collections.
“Current EBITDA increased significantly to €47.9m (+52.8% vs. H1 2021), representing a current EBITDA margin of 23.6% (+3.9 points vs. H1 2021). This outstanding performance was driven by record high levels in the United States/Canada region (29.1% of EBITDA margin in H1 2022), amplified by a favourable exchange rate effect.
“The United States/Canada region has become the leading contributor to Group revenue and consolidated EBITDA margin. Roche Bobois has also just announced its strategic aim to strengthen its regional presence in the United States by exercising its unilateral purchase option to acquire three franchised stores in Atlanta, Houston and Dallas. This acquisition will be accretive for the Group as of next year.
“In view of the excellent first-half 2022 results, combined with the level of retail sales and overall order backlog (€178m as of 30 June, 2022), Roche Bobois is targeting revenue in excess of €385m and a strong increase in EBITDA for the 2022 financial year.”