Sandro and Maje Parent Company Post Decline in Profits After Going Public
SMCP, the parent company of Sandro, Maje and Claudie Pierlot, registered an 88.3 percent decline in net profits for 2017 due to costs linked to its initial public offering last year.
Net profits in the 12-month period for the company reached 6.3 million euros ($7.7 million). Excluding one-off items, net income declined 16.4 percent to 44.9 million euros.
SMCP’s earnings before interest, taxes, debt and amortization reached 153.7 million euros, up 18.6 percent versus 2016. Adjusted Ebitda margin gained 3 percentage points to reach 16.8 percent.
As reported, the company’s full-year sales grew 16 percent to 921.4 million euros, lifted by fast growth in Asia. On a constant-currency basis, revenues were up 17.5 percent.
For 2018, SMCP expects sales to increase 11 percent to 13 percent on a constant-currency basis and for adjusted Ebitda margin to be around 17 percent.
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The company also confirmed its midterm objectives for 2020, which include more than 11 percent to 13 percent sales growth per year in constant-currency terms and an expansion of around 100 basis points of its adjusted Ebitda margin by 2020 versus 2016.
