Tendam In the first half of the year, the company increased sales by 5% and net profit before taxes by 18.5% (43.6 million). Matrix Cortefille, Women’s secret, Springfield And Pedro del Hierroachieved some Total income amounted to 606.2 million euros, which is 5% more than in the same period last year. On a like-for-like basis, sales increased 6.2% compared to 2022.

Between 1 March and 31 August 2023, in the first half of the 2023/24 financial year, all brands basic growth has been recorded. In its statement, the company noted sales growth of 8.3% for Cortefiel and Pedro del Hierro. “Although the macroeconomic scenario continues to be characterized by uncertainty, Tendam approaches the remainder of the year with reasonable confidence and maintains its original target of sales growth of more than 5%,” the firm explains.

Behavior is also emphasized Mexicoone of the key markets of the international expansion plan, where sales grew by 20.4% and where Tendam’s presence approaches 120 stores.

Moreover, he confirms his intention public domain. “Tendam and its shareholders are evaluating possible strategic alternatives to help the company move to its next stage of growth, including the possibility of going public on a regulated market,” said Jaume Miquel.

He gross profit At the end of the semester it stands at 63.3%, representing an improvement of one percentage point compared to the first half of the previous year, thanks to better inventory position (-4%) and lower cost pressures in the supply chain.

Regular EBITDA for the first half of 2023 reached €151.0 million, representing an increase of +8.2% compared to the figure recorded in the first half of 2022 of €139.6 million.

Currently, the Tendam chain of stores at the end of the semester has 1,829 sales points, of which 1,172 correspond to stores and angles self-managed and 657 franchised. Tendam has opened 25 stores in the past twelve months.

net debt Before the advent of IFRS 16, the group’s debt for the period was €358.9 million, representing a debt ratio of 2.1 times Ebitda. “Tendam continues to fulfill its commitments to reduce leverage and optimize the cost of loans,” the statement emphasizes.

Based on the results of the period, rating agencies S&P And Moody upgraded Tendam’s rating outlook to positive from stable. The company also announced the partial and early repayment of €190 million of the total €300 million of its outstanding variable rate senior guaranteed notes expected to mature in 2028.

“This amortization and debt reorganization represents a reduction of more than 20% in annual interest payments for the Group and provides the company with a competitive advantage to accelerate its growth plans,” the company adds.