Q1 2024 Results - Investor Presentation
Key Highlights - Q1 2024 Commercial Performance - Focus on Stores
THOM
Q1 2024 Results - Investor presentation March 15, 2024
LFL Stores sales have improved by +1.3% in Q1 2024 with a slight
decrease of contribution in value due to higher energy costs.
(€(1.4)m). Energy costs will benefit from new contracts with
more favorable conditions starting 1st January 2024.
Stores P&L - LFL perimeter - Q1 2023, Q1 2024
In €m
France
Italy
RoE
Q1 2023 Q1 2024
Var. %
173.8
173.3
-0.3%
85.8
89.2
3.9%
17.6
18.4
4.8%
Network sales - Stores
277.2
280.9
1.3%
France
77.4
75.0
-3.1%
Italy
32.2
33.0
2.7%
RoE
6.3
6.3
-0.5%
Network Contribution - Stores (*)
115.8
114.3
-1.3%
KPI Network Contribution rate - Stores
France
44.5%
43.3%
(1.2)pp
Italy
37.5%
37.0%
(0.5)pp
RoE
Group
35.8%
34.0%
(1.8)pp
41.8%
40.7%
(1.1)pp
(*) Network contribution is pre-IFRS, as accounted in the management accounts. It includes in particular the rents as, from a
business' perspective, it is more relevant to analyze store contribution including rents.
Development of network sales in Store was good in Italy and Rest of Europe, stable in France:
The increase in network sales is driven by targeted efforts to reinforce the Group's established brands
during the first quarter ended December 31, 2023. These efforts included new marketing campaigns for
Our Histoire d'Or and Stroili brands for Christmas.
The group managed to maintained a good level of network contribution at 40.7% despite cost inflation.
The Group has maintained its limited discount policy.
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