Q1 2024 Results - Investor Presentation
Financial Review - Working Capital and CAPEX
The increase in investing activities in Q1 2024 of €(0.8)m, of which €(2.8)m of discretionary capital
expenditure, vs. Q1 2023, is mainly related to the increase in the number of openings of new stores, not
offset by the decrease in investment in acquisition of subsidiary due to the acquisition of Agatha for
€3.0m in Q1 2023.
Net Cash Used in investing activities
In Єm
First Quarter
LTM Ended
December
2023
2024
Var. m€
Expansion Capital Expenditure
(1.2)
(3.0)
(1.9)
2024
(8.2)
Maintenance Capital Expenditure
(1.9)
(2.3)
(0.4)
(12.5)
Refurbishment Capital Expenditure
(2.9)
(2.7)
0.2
(12.7)
Store Capital Expenditure
(5.9)
(8.0)
(2.1)
(33.4)
SAP and other projects related to IT
(4.3)
(4.4)
(0.1)
(14.4)
Other corporate capital expenditure
(0.7)
(1.2)
(0.5)
(4.3)
Corporate Capital Expenditure
(5.1)
(5.7)
(0.6)
(18.7)
Change in CAPEX working capital
(1.7)
(3.0)
(1.3)
(0.2)
Total Capital Expenditure
(12.7)
(16.7)
(4.0)
(52.4)
Disposal of fixed and intangible assets
0.1
0.2
0.2
0.5
Acquisition of financial assets
0.1
(0.2)
(0.4)
(1.3)
Acquisition of subsidiary, net of cash acquired
(3.0)
0.3
3.4
0.5
Net cash used in investing activities
(15.6)
(16.3)
(0.8)
(52.6)
Net Cash Used in Investing activities showing a €16.3m negative effect in Q1
2024 compared to a negative effect of €15.6m in Q1 2024.
The increase of €0.8m is explained by (i) higher number of stores opened in
Q1 2024 (9 stores) compared to Q1 2023 (5 stores), (ii) higher investment in
maintenance of stores, (iii) the increase in other corporate capital
expenditure as well as (iv) the negative effect of change in working capital,
not offset by the decrease in acquisition of subsidiary for €3.4m
corresponding to the acquisition in Agatha in Q1 2023 for €3.0m compared
to the acquisition of Be Maad in Q1 2024 for €0.3m.
THOM
Q1 2024 Results - Investor presentation March 15, 2024
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