Revenues down (-2.2%) for Unieuro. Now more omnichannel

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The switch-off effect ends, Italian consumption is struggling while the consumer electronics and white goods markets slow down. Unieuro thus closed the 2022/23 financial year with 2.88 billion in revenues, slightly down (-2.2%) on the previous year in a market that sees a -3.5% compared to the performance of recent years. The revenues of Unieuro “like for like” instead recorded a -3.2%. Adjusted Ebit is equal to 34.8 million against 72.1 million in the 2021/22 financial year while net cash is equal to 124.4 million, a slight decrease compared to 135.7 million as at 28 February 2022. This is the value after the disbursement of dividends for 27.1 million. The net result is 19.3 million against the almost 54 million of the previous year. A dividend of €0.49 is envisaged for shareholders. These are the results approved by the Board of Directors of the consumer electronics chain which launched the strategic plan for omni-channel «Beyond omni-journey» which intends to strengthen Unieuro’s distinctive omni-channel positioning and focus decisively on the Beyond trade, enhancing the solid relationship with the customer and the ability to anticipate their needs. «In an undoubtedly challenging market context, we are pleased to have achieved results in line with the guidance, albeit conditioned by an exceptionally high level of inflation, and to have once again confirmed our leadership position in the sector. The results achieved allow us to continue to remunerate our shareholders in compliance with the dividend policy – comments Giancarlo Nicosanti Monterastelli, CEO and Chief Strategy Officer of Unieuro -. To respond promptly and effectively to the changed market context, we have drawn up a new strategic plan, which marks the growth path for the years to come and on which the commitment of all our people will be focused, strong in passion and skills” .

The strategic plan provides for an allocation of over 200 million which will be invested for “omnichannel trade” activities with an acceleration in the “Beyond trade” area which will lead to a different mix of revenues with the offer of solutions, the development of products own brand and the strengthening of value-added services. The goal is to reach a turnover of between 3.2 and 3.4 billion in 2027/28 compared to 2.9 in the 2023/24 budget, with growth of about two percentage points higher than the market over the horizon of the plan. Among the medium-term objectives, an adjusted Ebit between 55 and 65 million against the 35-38 expected for the period 2023/24 while the net cash, before the distribution of dividends, is expected between 250 and 270 million at the end of the year 2027 /2028, compared to the range between 110 and 130 million forecast at 28 February 2024. Unieuro could also focus on growth through external lines and to strengthen the “Beyond trade” strategy, the company intends to exploit opportunities for acquisitions and/or partnerships to expand value-added activities and services. Other growth opportunities include the acquisition of points of sale with limited overlap with the current network as well as the possibility of acquisitions and/or partnerships with leading operators abroad.