Douglas Group achieves sales and profit growth
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Business
European omni-channel beauty platform The Douglas Group, confirming preliminary numbers published last month, said that the overall sales rose by 11.5 percent to around 958 million euros.
The company said in a statement that the store sales increased by 11.9 percent with like-for-like growth of 10.8 percent and ecommerce sales increased by 10.7 percent with like-for-like increase of 10.4 percent.
Commenting on the second quarter update, Sander van der Laan, CEO of the Douglas Group, said: “We have confirmed our trend and market position with a strong second quarter and good performance in all our segments. Our omnichannel model continues to drive our growth while we keep costs under control and thus further improved our profitability.”
The company generated an adjusted EBITDA of 145.9 million euros, a rise of 16.2 percent, corresponding to an adjusted EBITDA margin of 15.2 percent, an increase of 0.6 percentage points year-on-year. Net income was negative 41.3 million euros.
For the six month period, the company’s net sales of around 2.5 billion euros rose 9.3 percent and an adjusted EBITDA of 494.2 million euros, increased 13.6 percent. On a half-year basis, store sales increased by 8.6 percent with like-for-like sales increase of 7.7 percent and ecommerce sales increase of 10.7 percent and like-for-like growth of 10.5 percent. Net income for the first six months was at 83.9 million euros, up 18.1 percent.
The group opened 10 stores and refurbished 37 stores in the first six months of the financial year. The company expects to open more than 40 additional stores until the end of the current financial year and is fully on track to achieve its goal of over 200 store openings and 400 store upgrades by the end of the financial year 2025/26.
The Douglas Group forecasts sales to increase by around 7 percent in the financial year 2023/24 and also mid-term, driven by both channels with an anticipated increase of store sales in the mid-single-digit range and ecom sales in the high-single-digit range.