H1 2022 Financial Results
FREE CASH-FLOW GENERATION
€m
H1 2021
H1 2022
EBITDA
210
192
IFRS 16 impact
-125
-126
Non-recurring cash elements
2
2
Cash flow from operations before
88
68
tax, dividends and interest
Change in working capital'
-581
-735
Capex
-46
-56
Ταχ
-38
-40
Operating free cash-flow¹
-577
-764
1 Excluding IFRS 16
■ EBITDA at €192m including the impact of IFRS 16, down
by -€18m vs. H1 2021, in line with the change in current
operating income
Operating free cash-flow¹ stands at -€764m, mainly
impacted by:
Unfavorable change in working capital requirements
resulting in particular from advance product purchases
amid sharply rising inflation and shortages of certain
essential components
Building up inventories for the opening of 14 new Fnac
shop-in-shops within Manor stores
Slightly higher level of capex than in H1 2021, as expected,
due to the opening of the Fnac shop-in-shops in Manor
FNAC DARTY
20
20View entire presentation