Growth upswing confirmed in Q3 2019-2020 (up 45%), logistics streamlining completed
22 July 2020. Vente-Unique.com, a European specialist in online furniture sales, today announces its unaudited revenues for the third quarter of the 2019-2020 financial year (1 April to 30 June 2020).
Revenues for the third quarter, spanning both the lockdown imposed due to the COVID-19 pandemic and the post-lockdown period, amounted to €31.9 million, entailing growth of 45% compared to the same period last year.
| IFRS (€000) | 2018-2019[1] | 2019-2020 | Change |
| H1 | 48,891 | 51,480 | +5% |
| Q3 | 21,933 | 31,877 | +45% |
| Total | 70,823 | 83,357 | +18% |
While the health crisis curbed sales in the second quarter (up 2%), lockdown accelerated the European furniture market's ongoing transition away from stores towards e-commerce. This shift, which has been accelerated by the weaknesses of a number of traditional store chains, particularly in France, is part of an underlying trend confirmed by steady high growth in order intake over the quarter.
France (revenues of €16.6 million, up 35%) and Southern Europe (€4.6 million, up 26%) are recovering well after having borne the brunt of the onset of the health crisis. Northern and Eastern Europe (€10.7 million, up 79%) maintained double-digit growth in the second quarter and posted the strongest sales performance.
Revenues for the first nine months of the 2019-2020 financial year totalled €83.4 million, up 18% compared to the same period in 2018-2019. In line with its goal, the Company has therefore made up the ground lost at the beginning of the year and is now well above its historical growth rate (12% per year on average).
Over the first nine months, international business accounted for 45% of sales, 3 percentage points higher than the same period last year.
Logistics streamlining completed
The step-up in growth was achieved through tight management of the logistics chain, a core component of corporate strategy.
Following the expansion of the storage area at the Amblainville facility in Oise from 27,000 m² to 51,000 m² in summer 2019, coupled with the streamlining of all processes, in the second quarter of 2019-2020 Vente-Unique.com began transferring its logistics operations to its parent company, Cafom Group, with the aim of maximising quality and end-customer satisfaction.
This process, which represents a significant milestone in the Company's development, was successfully completed on 1 July 2020.
Continued profitable growth with the targeting annual increase of over 15%
As announced with the publication of first-half earnings, the Company is confirming its goal to achieve another year of double-digit growth and is now targeting annual sales growth of over 15%. Vente-unique.com remains faithful to its balanced model combining growth and profitability.
Next publication: 2019-2020 revenues, 12 November 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 1.5 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 |
| IFRS (€000) | Q3 2018-2019[2] | Q3 2019-2020 | Change | |
| France | 12,285 | 16,575 | +35% | |
| Northern and Eastern Europe[3] | 5,978 | 10,675 | +79% | |
| Southern Europe[4] | 3,669 | 4,627 | +26% | |
| Total | 21,933 | 31,877 | +45% | |
| IFRS (€000) | 9 months 2018-20192 | 9 months 2019-2020 | Change |
| France | 40,997 | 45,855 | +12% |
| Northern and Eastern Europe3 | 18,588 | 25,356 | +36% |
| Southern Europe4 | 11,238 | 12,146 | +8% |
| Total | 70,823 | 83,357 | +18% |
[1] 2018-2019 revenues were restated for the eco-contribution pursuant to IFRS 15 in order to ensure full comparability with 2019-20 data. Revenues published on 22 July 2019 amounted to €71,269 k.
[2] 2018-2019 revenues were restated for the eco-contribution pursuant to IFRS 15 in order to ensure full comparability with 2019-20 data. Revenues published on 22 July 2019 amounted to €22,062 k for the third quarter and €71,269 k for the first nine months of 2018-2019.
[3] Germany + Austria + Belgium + Luxembourg + Netherlands + Poland + Switzerland
[4] Spain + Italy + Portugal
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