Maisons du Monde 1H EBITDA EUR46M, -28% y/y

Maisons du Monde 1H EBITDA EUR46M, -28% y/y

Maisons du Monde reported mixed results for the second quarter (Q2) and the first half (H1) of 2025, with a notable decrease in EBITDA and overall sales. The company's Q2 sales improved marginally from the first quarter (Q1), but the first half (H1) results showed a significant decline in EBITDA compared to the same period last year.

Q2 Performance

The company's Q2 sales showed a slight improvement compared to Q1, with a 7.5% decrease in like-for-like (LfL) sales. This improvement was driven by a better performance in June, which marked the best monthly trend in the past two years. The company's retail sales also showed a positive trend, with a 3.8% decrease in LfL sales, compared to a 5.7% decrease in Q1. Four countries—Spain, Belgium, Switzerland, and Portugal—experienced growth in Q2, while the company's affiliate stores and online sales continued to grow.

H1 2025 Performance

Maisons du Monde's H1 2025 sales totaled €444.6 million, a 9.7% decrease compared to 2024. This decline was primarily driven by a 10.3% decrease in EBITDA, which resulted in a 28.1% year-over-year (y/y) decrease. The company's operating expenses decreased by €18 million, driven by cost-saving initiatives, but this was not enough to offset the overall decline in sales and EBITDA.

Key Financial Metrics

- EBITDA: €46.0 million, a 28.1% y/y decrease.
- Sales: €444.6 million, a 9.7% y/y decrease.
- Operating Expenses: €240.1 million, a 5.8% y/y decrease.
- Net Debt: €156.9 million, an increase of 72 million euros from the end of 2024.

Management Comments

François-Melchior de Polignac, the company's Director-General, noted that the performance reflects an improvement in a challenging consumption environment. John Browett, the new President of the Board of Directors, expressed his excitement to work with the team to accelerate the company's transformation.

Future Outlook

Despite the challenging environment, the company remains optimistic about the future, with a focus on cost management and the successful implementation of its Inspire Everyday plan. The company expects a positive EBITDA in the second half of the year, which should help offset the negative FCF of the first half.

References

[1] https://www.globenewswire.com/news-release/2025/07/25/3121910/0/fr/Activit%C3%A9-T2-et-r%C3%A9sultats-financiers-S1-2025.html