(Finance) – Fnac Dartya group that operates in large-scale retail trade, closed the first nine months of the year with revenues to 5.24 billion euros (+1%). The third quarter was stable with revenues of 1.85 billion.
Up more than 100 basis points gross margin ratein the third quarter, excluding the dilutive impacts of franchising and changes in the scope.
The current operating income target is revised upwards, it is now expected to exceed 180 million, compared to the previously announced target of at least equal to that of 2023. Target on free cash flow for the period 2021-2024 remains unchanged.
The group also confirms the objective of achieving a free operating cash flow cumulative of approximately €500 million over the period 2021-2024, i.e. a level of €180 million in 2024.
The CEO of Fnac Darty Enrique Martinez underlines how “Close to the closing of the public purchase and exchange offer on Unieuro, we are convinced of the potential for value creation of this combination and we look forward to entering the integration phase for create a European leader in specialized retail”.