from MR BRICOLAGE (EPA:ALMRB)
MR.Bricolage: 2024 FULL-YEAR EARNINGS
2024 FULL-YEAR EARNINGS
Continued development and solid financial position
Ongoing investments to support network performance
Orléans, 19 March 2025, 6pm CET - Mr.Bricolage SA, which groups together local independent home improvement and gardening stores, is reporting its consolidated full-year earnings for 2024. The Group, which is this year celebrating the Mr.Bricolage banner’s 45th anniversary, is continuing to build on its robust progress with its roadmap to support competitiveness and sustainable growth. It is continuing to develop and unite together its member and affiliate networks, launching a new neighborhood banner to accelerate its development, and unveiling its next-generation logistics organization. Faced with an uncertain economic environment, Mr.Bricolage benefits from a solid financial position.
“In 2024, we continued rolling out our 1Pacte plan and developing our member and affiliate networks. Despite the challenging economic environment, our performances were relatively unaffected especially considering our investments were being ramped up.
During this period of uncertainty linked to the general economic climate, combined with unfavorable weather conditions for our sector at key times of the year, we are continuing to prepare the future of our Group. As part of our initiatives in 2024, we passed two major milestones at the start of the year, with the launch of our new neighborhood banner, Mr.Bricolage Relais, and the strengthening of our logistics organization, with the expansion and robotization of our main warehouse.
This agility, supported by the ongoing transformation of our organization and the training of our employees at our headquarters and in-store, helps ensure long-term success for all our stakeholders”, confirms Christophe Mistou, Mr.Bricolage Group CEO.
Business volume and network development
At 31 January 2025, the Mr.Bricolage Group’s member and affiliate network comprised 1,091 points of sale: 20 stores joined the network during the month of January 2025, with three under the Mr.Bricolage banner and 17 affiliate stores. For reference, the new members and affiliates are taken into account in January due to calendar and contractual management reasons. At 31 December 2024, the Group comprised 1,071 points of sale (compared with 979 at 31 December 2023).
In 2024, while the French economy was held back by the uncertainty, the business volume came to €2.2bn, with a limited contraction of -3.5% on a like-for-like store basis. 84% of the business volume is generated in France (mainland France and DROM-COM), with the rest, i.e. €342.9m, in the other 11 countries where 77 Mr.Bricolage banner stores operate (as at 31 December 2023).
60 years after the creation of the ANPF, and 45 years after the launch of the Mr.Bricolage banner, the Group is moving forward with its development and building increasingly close connections with its customers. This is illustrated for instance by:
• The continued transformation, with a total of 124 stores aligned with the concept, up from 111 at end-December 2023. In addition, a growing number of Mr.Bricolage stores are following the performance management principles and adopting the bespoke onboarding program for new staff, rolled out as part of the 1Pacte Plan supporting sustainable growth.
• The new city center locations, adapted to the home improvement needs of people living in cities, will help build closer links with end customers throughout France. With a total of 12 points of sale in Paris, Mr.Bricolage is the leading brand in its sector in France's capital city. In addition, a city center store in Clermont-Ferrand opened in spring 2024, and will be followed by others in 2025.
• Ramping up initiatives supporting solidarity, sustainable growth and the green transition. Initiatives are being rolled out within the banner, including shared purchasing offers for home improvement tools and participation in solidarity actions. Moreover, Mr.Bricolage’s headquarters has already met the first two targets from the “Tertiary Decree” regulation, which sets a target for energy consumption to be reduced by 40% by 2030 and 50% by 2040. Compared with the reference year (2011), defined for the headquarters, the reduction achieved in 2024 is over 50%. Since 1 January 2024, vehicle fleet renewals
(managed centrally for all the sites) have focused on fully electric vehicles. At the end of 2024, electric vehicles made up 36% of the fleet, rising to 42% if we include plug-in hybrids. The aim is to achieve a 100% electric fleet by the end of 2026.
• The creation of a new banner, Mr.Bricolage Relais, announced in January 2025[1]. 40 Les Briconautes or affiliate stores across the Group have already made a commitment to adopt it during the first quarter of 2025. The Mr.Bricolage Relais banner is expanding the range of services and support for new entrepreneurs, while remaining true to the fundamentals of Mr.Bricolage’s expertise: an accessible offering, adapted to local needs, services focused on proximity, and personalized support.
• The modernization of the logistics organization announced at the end of January 2025 will further strengthen productivity, while improving the quality of the services provided for its members and the working conditions for its teams. The total investment represents €17.2m[2], with the doubling of capacity at the Voivres-lès-le-Mans logistics hub (72) and the deployment of a next-generation robotization solution (underway).
Volume of business incl. taxes €m | Number of stores | 2024 | Change on total store basis | Change on like-for-like store basis |
In-store sales | 1,071 | 2,168.5 | -5.7% | -3.5% |
- France(1) | 994 | 1,825.7 | -7.0% | -4.4% |
- International(2) | 77 | 342.9 | +1.5% | +0.4% |
Online sales(3) (excl. click-and-collect) | - | 11.6 | -0.3% | na |
Total | 1,071 | 2,180.2 | -5.7% | -3.5% |
(1) With 338 Mr.Bricolage brand stores, 99 Les Briconautes brand stores and 557 affiliate stores under independent brands.
(2) 77 Mr.Bricolage brand stores operating in 11 countries: Andorra (1), Belgium (44), Bulgaria (13), Cyprus (1), Gabon
(2), Ivory Coast (1), Kosovo (1), Macedonia (1), Madagascar (1), Mauritius (3), Morocco (9).
(3) The “online sales” item includes home delivery sales and sales collected from Mr.Bricolage stores (excluding click and collect).
Mr.Bricolage Group revenues
In 2024, the Mr.Bricolage Group recorded consolidated revenues of €280.3m, compared with €293.3m in 2023, in line with the economic slowdown. Sales of goods (-4.0%) reflect the contraction in logistics activities in a context of reduced inventory rotation and the stability of ecommerce transactions (excluding click-and-collect). Sales of services (-5.4%) notably reflect the lower level of purchases, partially offset by the services invoiced by Mr.Bricolage’s training institute (IFOGECO), included in the scope since 1 January 2024.
Consolidated revenues - IFRS (€m)(1) | 2024 | 2023 | Change |
Sales of goods | 197.3 | 205.6 | -4.0% |
Sales of services | 83.0 | 87.8 | -5.4% |
Total consolidated revenues | 280.3 | 293.3 | -4.4% |
(1) The full-year results for 2024 were approved by the Board of Directors during its meeting on 19 March 2025. The audit procedures have been completed and the certification audit report is currently being issued.
Mr.Bricolage Group earnings & cash
The Group recorded €27.6m of EBITDA, with a margin rate of 9.9%, versus 11.2% in 2023. For reference, EBITDA for 2023 included €2.2m for the favorable outcome of a dispute that began in 2016. Excluding this non-recurring income, the €2.9m contraction in EBITDA takes into account the resources allocated to the rollout of the 1Pacte 2022-2025 Plan and the slowdown in household consumption, both partially offset by efforts to reduce spending at the headquarters.
After €2.9m of non-recurring operating expenses, reflecting the resources allocated to the information systems under the 1Pacte plan, the operating profit came to €14.8m, with an operating margin of 5.3%.
Financial income and expenses in 2024 came to €(1.6)m, compared with €(3.0)m in 2023, factoring in the increase in investment income and the virtually stable level of interest expenses. The tax expense for 2024, incorporating the allocations of loss carryforwards, is stable at €(1.8)m. The €0.8m of profit after tax from discontinued operations includes reversals of provisions or liabilities that are no longer applicable following the discontinuation of the “Retail” business (2019-2020). After the €1.6m of income from associates, the net profit for 2024 came to €13.9m, giving a net margin of 5.0%, compared with 7.0% in 2023 (6.2% restated for the favorable outcome of a dispute in 2023).
The net financial debt has significantly improved, totaling €2.7m at end-2024, compared with €14.9m at end-2023. The Group's cash position increased at €47.2m of cash at end-2024, compared with €37.7m at end-2023. The Group has additional borrowing capacity available under the syndicated credit agreement set up at the end of September 2022. This solid financial position reflects the effective management of cash against a backdrop of continued investments linked to the 1Pacte plan, with a particular focus on information systems and logistics.
Condensed consolidated accounts - IFRS (€m)(1) | 2024 | 2023 | Change |
Reported | Reported | Like-for-like | |
Consolidated revenues | 280.3 | 293.3 | -4.4% |
EBITDA(2) | 27.6 | 32.8 | -15.6% |
% of revenues | 9.9% | 11.2% |
|
Current operating profit | 17.7 | 23.2 | -23.9% |
% of revenues | 6.3% | 7.9% |
|
Other non-current operating income and expenses | (2.9) | (1.5) | |
Operating profit | 14.8 | 21.8 | -32.0% |
% of revenues | 5.3% | 7.4% |
|
Financial income (expense) | (1.6) | (3.0) | +47.6% |
Contribution from associates | 1.6 | 2.0 | -17.8% |
Corporate income tax | (1.8) | (1.8) |
|
Profit after tax from continuing operations | 13.0 | 18.9 | -30.9% |
Profit after tax from discontinued operations | 0.8 | 1.6 | -45.9% |
Profit (loss) for the period | 13.9 | 20.4 | -32.0% |
% of revenues | 5.0% | 7.0% |
|
- Group share | 13.9 | 20.4 | |
- Minority interests | NS | NS | - |
(1) The full-year results for 2024 were approved by the Board of Directors during its meeting on 19 March 2025. The audit procedures have been completed and the certification audit report is currently being issued.
(2) EBITDA = “Current operating profit” + “Depreciation and amortization”.
Outlook for 2025
In 2025, the Group will finalize the deployment of its 1Pacte plan, rolled out to develop the competitiveness and attractive positioning of the banners, while aligning the Group with a strategy for responsible growth. The priority initiatives include:
• Deployment of the new Mr.Bricolage Relais brand nationwide,
• Completion and delivery of the new robotized warehouse in Voivres-lès-le-Mans,
• Effective management of costs in an increasingly challenging economic context.
In terms of the general environment, the Group expects to see a continued deterioration in the economic climate, impacting household consumption and the construction market. The Group is focused on ensuring its good financial health and managing its costs effectively. Alongside this, the Group is continuing to provide streamlined support for its members and affiliates to help drive their long-term expansion, their competitiveness and their customer loyalty.
FINANCIAL CALENDAR
• The 2024 annual report will be available on April 2nd, 2025 on www.mr-bricolage.com and the Euronext site.
• Mr.Bricolage’s General Shareholders’ Meeting will be held on Wednesday April 30th, 2025 from 10am at its head office, located at 1 rue Montaigne, La Chapelle-Saint-Mesmin (45), France. Shareholders are invited to consult the “General Meeting” section on the company’s site
(https://mrbricolage.com/actualites/infos-reglementees/).
• Publication of 2025 first-half results: 24 July 2025 after market close.
ABOUT THE MR.BRICOLAGE GROUP
The Mr.Bricolage Group, which develops the well-known banners Mr.Bricolage and Les Briconautes, is the
French specialist for local independent home improvement retail. As of January 31st, 2025, the Group has 1091 stores operating under the banners or through affiliates, including 77 international stores across eleven countries. Mr.Bricolage SA is listed on Euronext Growth Paris (ISIN: FR0004034320 - ALMRB).
CONTACTS
Corporate media - Louise Chaulin, louise.chaulin@mrbricolage.fr, +33 7 83 35 96 93
Financial media & investors - Marie Calleux, mrbricolage@actus.fr, +33 1 53 65 68 66
[2] The €17.2m joint investment is based on the following breakdown: (i) €11m invested by Groupe Mazureau to extend the building (the cost of this investment will be covered by the increase in rents paid by MBLOG) and (ii) €6.2m invested by MBLOG for the site’s facilities and robotization.