French decor and home furniture company, Maisons Du Monde has reported as sales decline 13.3% to €488.9 million in H1 of the fiscal year 2020 as compared to €564 million in the previous year. However, it has also reported an increment of 24.9 percent online sales to €148.9 million.
“Maisons du Monde’s first-half performance reflects the comprehensive Covid-19 action plan we swiftly implemented to mitigate the effects of the pandemic on EBITDA and free cash flow. The adaptability and resilience of our omnichannel model led to a better than expected Q2 performance,” Julie Walbaum, Chief Executive Officer of Maisons du Monde, said in a press release.
The company’s EBITDA slipped 29.0 percent to €68.8 million (€97.1 million). The gross margin for the period was €313.4 million (€360.7 million). Net financial expense registered a loss of €9.6 million compared to €10.8 million during H1 FY19.
Regionally, sales in France during H1 FY20 fell 18.0 percent to €252.1 million (€307.5 million). While international sales were down 7.7 percent to €236.8 million (€256.6 million).
