French furniture business posts half year update as sales grow

French furniture business Roche Bobois has reported a growth in half year sales and EBITDA.

According to its latest half year 2023 trading update, total sales rose 9.2% to €221.7m from €203m in 2022, while current EBITDA resulted at €49.9m, up 4.2% from €47.9m.

EBITDA margin reduced from 23.6% to 22.5%, while net profit for the period resulted at €19.6m, down 2.9% from €20.1m.

“Roche Bobois SA reported an excellent H1 2023, with further growth in EBITDA compared with H1 2022 which had been, de facto, a record base of comparison,” the business said.

“Regarding the order backlog, at end-August 2023, aggregate retail sales (across all brands, including franchises) amounted to €399m (-5.9% compared with end-August 2022).

“For the scope of directly-operated and owned stores, it remained very close to that of the previous year (-1.8% compared with the same period of the previous year but reflecting growth of 1.5% on a pro forma basis).”

During the first half of 2023, Roche Bobois carried out major investments of €16.1m, compared with €5.4m at 30 June 2022. These included the acquisition of 13 franchise stores in the North of France and Brittany, as well as the renovation of existing stores in the United States/Canada (including the New York Madison and San Francisco flagships but also Dallas, Montreal and Houston) and in France (Nantes, Nancy, Rennes and Avignon).

Furthermore, work linked to the ambitious 2023 store opening plan: Palm Desert (California), Short Hills (New Jersey) (both opened in June 2023) as well as Naples (Florida), Denver (Colorado), Bâle (Switzerland) and Nice place Massena.

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