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  ROCHE BOBOIS company press release from 22/10/2024 - Q3 2024 REVENUE: EUR 96.2M (-2.2%) - RETAIL SALES OF DIRECTLY-OPERATED STORES UP +3.4% in Q3 - OUTLOOK CONFIRMED

  22/10/2024 - 17:45

Q3 2024 REVENUE: EUR 96.2M (-2.2%) - RETAIL SALES OF DIRECTLY-OPERATED STORES UP +3.4% in Q3 - OUTLOOK CONFIRMED


Paris, 22 October 2024

ROCHE BOBOIS SA (ISIN: FR0013344173 – Ticker: RBO), the global benchmark in high-end furnishings and French Art de Vivre, posted revenue of €96.2m in Q3 2024, slightly down by -2.2% year-on-year at current exchange rates. Nine-months revenue totalled €300.6m, down -6.1% at current exchange rates.

 

In terms of retail sales, directly-operated stores reported a retail sale of €78.5m in Q3 2024, up +3.4% versus the same period in 2023, thanks to an excellent September observed across all regions (+12.4%) and the consolidation of three formerly franchised stores in China. Over the first nine months of 2024, retail sales of directly-operated stores came to €261.3m, slightly up by +1.0% from the same period one year earlier. Including the order intake of franchised stores, all brands combined, total retail sales stood at €426.6m (-2.5% at current exchange rates and -1.3% at constant exchange rates).

 

The Group's order backlog to be delivered was €139m at 30 September 2024. With a brisk pace of deliveries expected at year-end, Roche Bobois SA aims to return to growth in Q4 2024. On a full-year basis, the Group confirms its guidance for 2024, namely full-year revenue of around €418m with EBITDA down by around 15-20%, factoring in a more profitable second half than the first.

 

Note that Roche Bobois communicates both revenue (stemming from effective deliveries by its directly-operated stores and from royalties and commission fees) and retail sales (stemming from pre-tax order intake by the network of directly-operated stores and franchises for its two brands). The retail sales of directly-operated stores account for the main part of sales revenues with a delay of around 3-6 months depending on the region. Any growth in the retail sales of the directly-operated stores therefore has a direct effect on future revenue growth.

 Revenue
(unaudited – €m)
2023 2024 Change
at current exchange rates (%)
Change
at constant exchange rates (%)
H1 221.7 204.4 -7.8% -8.0%
Q3 98.4 96.2 -2.2% -1.9%
9 months 320.1 300.6 -6.1% -6.2%

Detailed information on revenue by region is available in the appendices

 

EBITDA: earnings before interest, taxes, depreciation, and amortisation. It designates the Group's pre-tax profit before interest, depreciation and amortisation of fixed assets (but after depreciation of stocks and receivables), store opening costs, expenses for payments in shares, including the associated social charges.

 

 


[1] Following the acquisition of a 51% stake in Shanghai Rock Castle – see press release of 5 July 2024


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  Original Source: ROCHE BOBOIS