13 May 2020. Vente-Unique.com, a European specialist in online furniture sales, today announces its unaudited revenues for the first half of the 2019-2020 financial year (1 October 2019 to 31 March 2020).
Half-yearly revenues were up 5% to €51.5m within a macroeconomic environment impacted by the Covid-19 pandemic since early 2020.
| IFRS (€000) | 2018-2019[1] | 2019-2020 | Change |
| France | 28,711 | 29,280 | +2% |
| Northern and Eastern Europe[2] | 12,610 | 14,681 | +16% |
| Southern Europe[3] | 7,569 | 7,519 | -1% |
| Total | 48,891 | 51,480 | +5% |
The public health crisis first threatened supply in China (production and freight), where the Group conducts the majority of its procurement. The lockdown measures gradually imposed from the start of March in the Group's principal countries of operation then created a wait-and-see approach among consumers and increased logistical constraints (order preparation, delivery and installation) leading to a drop in sales in the final weeks of the period. Against this backdrop, Vente-Unique.com, whose business continuity plan enabled it to maintain regular operation throughout the crisis, took the strategic decision to implement a less aggressive commercial policy on a temporary basis in order to optimise the returns on investment from its campaigns and preserve its margins.
This situation primarily impacted sales momentum in Southern Europe (€7.5m, down 1%) and in France (€29.3m, up 2%), where restrictions on movement were introduced earlier and to a greater extent. Northern and Eastern Europe, impacted to a lesser degree by the public health crisis, posted solid growth (€14.7m, up 16%).
At the end of March 2020, international operations had grown by 10% and represented 43% of sales, 2 points higher than during the same period the previous financial year.
Logistics optimisation
Within an e-commerce segment in which logistical proficiency constitutes a key driver of differentiation (product availability) and profitability (control over flows), Vente-Unique.com launched an optimisation process at its Amblainville site. As well as greater capacity, increased from 27,000 sqm to 51,000 sqm in summer 2019, and process optimisation, during the second half of the 2019-2020 period Vente-Unique.com initiated a logistics internalisation procedure within its parent company, the Cafom Group, with the goal of maximising quality and end customer satisfaction. This process, which is taking place in accordance with management plans and has a temporary impact on profitability, marks a major step in the development of the Group and is scheduled to be completed by the start of the summer.
Confirmation of the annual objectives
Following a difficult end to the period, Vente-Unique.com has recorded a growth rate higher than its historical average since early April. Against this backdrop and despite the bump in the road, the Group has confirmed its target of maintaining long-term annual growth of over 10%, an exemplary EBITDA margin and cash generation ensuring regular returns for shareholders.
Payment of the dividend
Backed by a solid financial structure and a resilient economic model combining growth and profitability, Vente-Unique.com announces that the dividend of €0.16 per share, voted for by its shareholders and offering a return of 3.7%, will be paid before the end of June.
Next publication: H1 2019-2020 results, 17 June 2020, before start of trading
Read more on bourse.vente-unique.com
About Vente-unique.com
Founded in 2006, Vente-unique.com (Euronext Growth: ALVU) is a European specialist in online furniture sales. The company covers 11 countries (France, Austria, Belgium, Germany, Italy, Luxembourg, Netherlands, Poland, Portugal, Spain and Switzerland) and has delivered to over 1 million customers since its inception. In 2019, Vente-unique.com posted revenues of €96.5 million, up 11%.
| ACTUS finance & communication | |
| Jérôme Fabreguettes-Leib | Nicolas Bouchez |
| Investor Relations | Press Relations |
| vente-unique@actus.fr | nbouchez@actus.fr |
| +33 (0)1 53 67 36 78 | +33 (0)1 53 67 36 74 |
[1] 2018-2019 revenues were restated for the eco-contribution pursuant to IFRS 15 in order to ensure full comparability with the 2019-20 data. The revenues published on 13 May 2019 amounted to €49,206,000.
[2] Germany + Austria + Belgium + Luxembourg + Netherlands + Poland + Switzerland
[3] Spain + Italy + Portugal
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