BOGART: Results of 2021-April 25, 2022 8:00 am

press release

Paris, April 25, 2022

2021 annual results

Sales: € 245.9 million

EBITDA: 38.4 million euros

Sound and solid financial situation

Free cash flow: 32.0 million euros

At € m

2020

2021

variable %

turn over

223.5

245.9

+ 10.0%

Perfume / cosmetics brand

36.0

43.1

+ 19.7%

Shop of them

187.5

202.8

+ 8.2%

Other income / income

[1]

10.5

11.9

+ 13.3%

Total income

234.0

257.8

+ 10.2%

EBITDA


[2]


36.9

38.4

+ 4.1%

Operating income

9.1

4.4 4.4

-51.6%

Revenue

(4.8)

(2.8)

――――

income tax

(1.9)

(0.9)

――――

Net income group share

2.3

0.7

-67.8%

The 2021 consolidated financial statements were approved by the Board of Directors on April 22, 2022. The financial statements have been subject to a legal audit by the statutory auditor. The annual financial report will be published by April 30, 2022.

Although 2021 was still confused by health conditions and the closure of government, Bogart grew in two business segments and EBITDA increased slightly. The financial situation remains very healthy and strong.

Activities and results

At the end of the 2021 fiscal year, Bogart generated revenue of € 245.9 million compared to € 223.5 million, an increase of + 10.0% at current exchange rates (+ 8.2% in range and exchange rates). %). Constant exchange rate). The group recalls consolidating 38 Nosibestas into one.

er

October 2021.

Labor costs increased by + 9.7% to € 56.1 million as of December 31, 2021 compared to € 51.1 million as of December 31, 2020. , In factories and retail networks. This salary cost change also takes into account the integration of staff at the Nocibé store (+187 employees).

External costs increased by + 31.0% to € 44.1 million as of December 31, 2021 compared to € 33.6 million as of December 31, 2020, with context-related costs in the previous fiscal year. Benefited from the reduction (closed points). Sale, temporary work and advertising cost reductions, travel restrictions and rent and fee renegotiations, etc.).

Finally, EBITDA increased to € 38.4 million as of December 31, 2021 and increased by + 4.1%, compared to € 36.9 million as of December 31, 2020.

Current operating profit was € 5.3 million as of December 31, 2021, compared to € 3.9 million as of December 31, 2020.

Operating profit was € 4.4 million as of December 31, 2021, compared to € 9.1 million as of December 31, 2020.


[3]

.. Last year’s operating results included € 5.5 million in non-liquid profit (reversal of reserves related to the residual goodwill of € 1.2 million in Distriplus) and net income from the disposal of the building (€ 4.3 million). It is important to note. ).

Taking into account the financial result of (2.8) M € and the tax amount of (0.9) M €, the final result is a group share of 0.7 M €.

Very solid financial situation

As of 31 December 2021, the shares of the Bogart Group will be compared to 99.2 million euros as of 31 December 2020 after the repurchase of treasury stock (1.5 million euros) and the payment of dividends (3.4 million euros). It was 97.2 million euros.

Cash flow is very strong, at € 32.6 million as of December 31, 2021, compared to € 34.7 million as of December 31, 2020.

We have full control over the WCR, which shows a positive change of € 9.1 million, but the company has significantly expanded its scope with the integration of 1.

er

October 2021 of 38 Nocibé stores.

Net cash flow generated by operating activities was 41.7 million euros as of December 31, 2021 compared to 58.1 million euros as of December 31, 2020, mainly net investment of 9.6 million euros (net investment of 9.6 million euros. It covers 38 stores (acquisition of Noshibe).

Bogart acquired a new loan of € 24.7 million and repaid a loan of € 44.8 million (including a bank loan of € 19.2 million, the rest of which is a loan under the application of Accounting Standard IFRS 16).

Free cash flow


[4]

As of December 31, 2021, the total was € 32.0 million, compared to € 61.9 million as of December 31, 2020.

The total cash amount as of December 31, 2021 was 93.2 million euros, compared to 88.3 million euros as of December 31, 2020.

Total financial debt as of December 31, 2021 was € 226.6 million (including bank loans and overdrafts of € 87.1 million), compared to € 192.9 million as of December 31, 2020. Net financial debt was negative.


[5]

(6.2) M € as of December 31, 2021.

Good start for Fiscal Year 2022

The beginning of the 2022 fiscal year is off to a good start.

In January 2022, the Group acquired a Slovak leader (fan) in the selective distribution of beauty products using 68 perfumes.

Thanks to the still high level of cash, BOGART will continue to look for opportunities to continue to increase its market share in Europe in the 2022 fiscal year.

1 sales

er

The 2022 quarter will be published on Thursday, April 28, before the stock market.

The latest information on the situation in Ukraine / Russia

In the face of what is happening now in Russia / Ukraine, the group informs that the impact on the size of the group is very low and that this zone has achieved only 0.6% of consolidated sales.

Bogart does not have any industrial or commercial facilities in these geographic areas.

Group website

www.groupe-bogart.com

Public relations

Manon Claire

[email protected]

like that. : 01 53 67 36 73

contact address

BOGART

[email protected]

like that. : 01 53 77 55 55

Financial and communication news

Public relations activities for investors

Amporin PETURE AUX

[email protected]

like that. : 01 53 67 36 72

Bridge table EBITDA / operating profit

Euro Million Data-IFRS Reporting Standards

2020

2021

EBITDA

36.9

38.4

CVAE

-0.1

-0.1

Stock destruction

-0.6

-1.0

Depreciation after deducting the reversal of reserves

-30.2

-31.5

Other illiquid operating income (expenses)

3.1 3.1

-1.4

Operating income

9.1

4.4 4.4


[1]

Revenue from re-invoices for licenses and advertisements made to brands distributed on Boggart’s own network.

[2]

EBITDA = Operating Income + CVAE + Depreciation and Reserves + Disposal of Inventories + Other Non-Ordinary Operating Income and Expenses

[3]

A table showing the transition from EBITDA to operating profit is included in the appendix of this press release.

[4]

Free Cash Flow: Cash Flow Generated by Activities-Investment Flow

[5]

Net Debt = Borrowings from Credit Institutions + Lease Debt + Bank Overdrafts and Interest Income-Available Cash


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