ORCHESTRA-PREMAMAN (EPA:KAZI) 2019/2020 revenue : € 563.5M (-1,3%)

Transparency directive : regulatory news

23/04/2020 19:00

April 23, 2020

- 2019/2020 revenue : EUR 563.5M (-1,3%)
- Online revenue : +15.4%
- 7.6% drop in the fourth quarter, in line with the market

2019/2020 REVENUE (unaudited data)
(March 1, 2019 to February 29, 2020)

IFRS - In EURm   Period 2018/2019 Period 2019/2020  2019/2020 vs.
                                                    2018/2019

Branches               304.0          302.8           -0.4%
Affiliate commission   231.7          220.9           -4.7%
Internet                20.9           24.1           15.4%
Trading & Misc.         14.3           15.8           10.6%
Consolidated revenue   570.8          563.5           -1.3%
of which France        355.8          346.5           -2.6%
of which Belux          71.1           70.6           -0.8%
of which International
(excl. Belux)          143.9          146.5            1.8%

During the 2019/2020 financial year, which covers the period from March 1, 2019
to February 29, 2020, the Orchestra-Prémaman Group achieved consolidated sales
of EUR 563.5 million, down -1 3% compared to the same period of the previous
financial year.

Activity in France (61.5% of turnover) fell -2.6% over the year, in particular
with:
- A stable Textile activity (-0.1% vs N-1), despite a difficult market context
   over the period (- 4.2% according to the French Fashion Institute). This
   performance can be explained by the distribution of Orchestra magazines
   since March 2019 and the actions taken by the Group in terms of commercial
   policy and product offering
- A dynamic childcare activity up + 3.3% in 2019/2020 compared to the previous
   year
- Conversely, Membership activity decreased by -36.4% over the period, a
   consequence of membership campaigns carried out at lower prices.

Activity outside of France remained mixed over the 2019/2020 financial year:

- International excluding Belux (26.0% of sales for the period) posted an
   increase of + 1.8%, and;
- The Belux activity (12.5% of turnover for the period) was down -0.8%.

The Web activity displays a continuous dynamic (+ 15.4%) supported by:
- The good performance of childcare sales on this channel (+ 28.1%) and;
- The development of Web sales in France (+ 11.5%).

In the context of the health crisis that we are currently experiencing, the
level of performance in web sales, in line with the progress known over the
financial year ended February 29, 2020, constitutes great satisfaction for the
Group.
This change can be explained in particular by the investments made (IT teams
and systems) over the past two years. The introduction of new innovative
e-commerce tools in the fall (ship from store, clic and collect, etc.) also
contributed to the growth of web activity.

The Trading & Miscellaneous activity increased by + 10.6% following sales made
to sellers during the financial year.

As of February 29, 2020, the Group had 1.8 million Club cardholders, who
contribute more than 90% of the Group's turnover.

2019/2020 REVENUE (unaudited data)
(March 1, 2019 to February 29, 2020)

IFRS - In EURm            4th Quarter  4th Quarter   Q4 2019/2020 vs.
                           2018/2019    2019/2020     Q4 2018/2019

Branches                      71.6         69.7          -2.7%
Affiliate commission          54.8         49.2         -10.2%
Internet                       5.9          6.4           8.5%
Trading & Misc.                4.9          1.5         -70.2%
Consolidated revenue         137.2        126.7          -7.6%
of which France               84.8         75.8         -10.6%
of which Belux                16.8         16.9           0.4%
of which International
(excl. Belux)                 35.6         34.0          -4.4%

During the fourth quarter of fiscal year 2019/2020, which covers the period
from December 1, 2019 to February 29, 2020, the Orchestra-Prémaman Group
achieved consolidated sales of EUR 126.7 million, down -7.6% compared to the
same period of the previous financial year.

Activity in France (60.0% of revenue for the fourth quarter of 2019/2020)
decreased by -10.6% over the quarter, strongly impacted by the social movements
that took place over the entire period. This development is in line with the
market (-8.8% according to the French Fashion Institute).

STORES NETWORK (unaudited data)

in number and thousands of m2
                   28/02/2019         29/02/2020      Variation 28/02/2019 vs.
                Number     Surface Number     Surface        29/02/2020
                           area               area      Number     Surface
                                                                   area
Branches           316      200.6    291      193.1      -25       -7.4
Affiliate
commission         229      113.9    198      102.9      -31      -11.0
Total              545      314.4    489      296.0      -56      -18.4
Textile            377      126.1    337      119.8      -40       -6.3
Mixed stores and
megastores         146      177.2    136      167.8      -10       -9.4
Outlet Stores       22       11.1     16        8.4       -6       -2.7
Total              545      314.4    489      296.0      -56      -18.4
o.w. France        305      199.3    300      198.3       -5       -1.0
o.w. Belux          58       52.5     41       38.8      -17      -13.7
o.w. International
(excl. Belux)      182       62.7    148       58.9      -34       -3.8

In an unfavorable market context, the Group confirms its desire to reduce its
investments, by reducing its store base. Large format stores (mixed and
megastore) represent more than half of the Group's sales area with 136 stores.

As a reminder, Orchestra-Prémaman Group indicated on April 1, 2020 that it
plans to request the short-term conversion of the safeguard procedure into
recovery procedure.

Information will be regularly communicated to the market on the evolution of
the procedure.

The trading of shares on Euronext Paris will remain suspended until further
notice.

Next appointment :
Consolidated results as of end of February 2020 on June 29, 2020 after Stock
closing

Contacts :
ACTIFIN - Stéphane RUIZ - 01 56 88 11 15 - sruiz@actifin.fr
ACTIFIN - Victoire DEMEESTERE - 01 56 88 11 24 - vdemeestere@actifin.fr
ACTIFIN PRESSE - Isabelle Dray - 01 56 88 11 29 - idray@actifin.fr

ORCHESTRA-PREMAMAN
A public limited company with capital of EUR12,159,825
Headquarter: 200 avenue des Tamaris, Zac Saint Antoine, 34130 Saint-Aunès.
Registration n°: 398 471 565 in the Montpellier Trade and Companies Register

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19/06/2020 19:18

ORCHESTRA-PREMAMAN (EPA:KAZI) 2019/2020 revenue : € 563.5M (-1,3%)

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