H1 2022 Financial Results
KEY DRIVERS TO GENERATE RECURRING CASH FLOWS
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Revenue growth mainly driven by increased online activity
- >30% online revenue penetration by 2025 o/w 50% is click & collect
Significant contribution in gross margin of the subscription-driven service offering
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>2M subscribers to our unlimited repairs subscription program by 2025
Mitigating the impact of the product mix sold online and the development of the franchise
Cost-cutting program to offset more than the expected inflation
- Continuous reduction of our operational cost base in line with our Performance Plan
- 100% of our stores profitable¹ by 2025
Controlled capex level focused on strategic initiatives
c. €120m of annual normative capex, excluding major strategic initiatives
Additional c.€40m to be invested over the period in new modern and high level logistic equipment
Cumulative Free Cash Flow² ~€500m 2021-2023
Run rate Free Cash Flow² ≥ €240m in 2025
1. Group owned stores perimeter
2. Net cash provided by operating activities excluding net financial charges less net
operating investments and cash impacts relating to rents within the scope of IFRS 16
FNAC DARTY
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