SRP Groupe
SRP
Real-time Euronext Paris - 08/16 01:59:13 pm
6.21EUR
+1.47%

SRP Groupe : FY 2017 OBJECTIVES - Q4 PERFORMANCE LOWER THAN EXPECTED

Envoyer par e-mail
12/18/2017 | 08:34 am

PRESS RELEASE

18 December 2017

FINANCIAL YEAR 2017 OBJECTIVES

Q4 PERFORMANCE LOWER THAN EXPECTED

La Plaine Saint Denis, 18 December 2017 - Showroomprivé, a leading European online retailer specialising in fashion for the Digital Woman, provides today an update on its performance ahead of its results for the full year ended 31/12/2017.

As of today, Q4 performance, which is usually a quarter where the Group generates a significant part of its revenues and profitability, has been below expectations in particular due to lower than expected commercial momentum on certain product categories and to an enhanced competitive environment notably around Black Friday.

The Company therefore expects its full year 2017 revenues and EBITDA to be lower than previously anticipated (i.e. c. EUR 690 million revenues and c. EUR 25 million EBITDA excluding Saldi Privati).

The Company is continuously working on strengthening its operations and offering to enhance customer experience and services to its brand partners.

After a year dedicated to the strategic evolution and transformation of the Group (acquisition of Beauteprivee, partnership with Conforama and integration of Saldi Privati), David Dayan and Thierry Petit, the two co-founders, will focus on driving the Group's operations and implementing its medium term strategic roadmap.

A new operational action plan will be detailed during the 2017 annual results in March.

FORWARD-LOOKING STATEMENTS

This press release contains only summary information and does not purport to be comprehensive.

This press release may contain forward-looking information and statements about the Group and its subsidiaries. These statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance. Forward-looking statements may be identified by the words "believe," "expect," "anticipate," "target" or similar expressions. Although the Group appreciates that the expectations reflected in such forward-looking statements are reasonable, investors and the Group's shareholders are cautioned that forward-looking information and statements are subject to numerous risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Group, which could cause actual results and developments to differ materially and adversely from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include those discussed or identified in filings with the Autorité des Marchés Financiers made or to be made by the Group (particularly those detailed in the Group's annual report and in its half year financial report). The Group undertakes no obligation to publicly update its forward-looking statements, whether as a result of new information, future events or otherwise.

ABOUT SHOWROOMPRIVE.COM

Showroomprive.com is an innovative European player in the online private sales industry, specialized in fashion. Showroomprivé offers a daily selection of close to 2,000 brand partners on its mobile app or online. It has over 28 million members in France and in eight of its European country markets. Since its launch in 2006, the company has enjoyed quick and profitable growth.

Showroomprivé is listed on Euronext Paris (code: SRP), and reported gross turnover of over 750 million euros in 2016, corresponding to net sales of 540 million euros, up 22% versus the previous year. The company employs close to 1,000 people.

For more information: www.showroomprivegroup.com

CONTACTS

Showroomprivé

Taddeo

Damien Fornier de Violet, Investor Relations

Philippe de Bailliencourt

investor.relations@showroomprive.com

+ 33 (0)6 29 93 67 37

Philippe.debailliencourt@taddeo.fr

Adeline Pastor, Communications Manager

+33 1 76 21 19 46

adeline.pastor@showroomprive.com

SRP Groupe SA published this content on 18 December 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 18 December 2017 07:34:04 UTC.

Envoyer par e-mail