Paris, 5 February 2020

Boosted by an excellent 4^th quarter, Roche Bobois SA (ISIN: FR0013344173 - Ticker symbol: RBO), posted 2019 revenues of €274.7m, representing solid growth of 6.9% at current exchange rates, and outperformed the target set.

The breakdown of revenues by region is presented in the appendix

In the 4^th quarter of 2019, Roche Bobois group posted a sharp increase in business across almost all regions. So 4^th quarter 2019 revenues came in at €73.3m, representing buoyant 10.0% growth at current exchange rates (+8.7% at constant exchange rates). Breakdown per region is detailed below.

• Roche Bobois France turned in a sharp 6.1% year-on-year increase in 4^th quarter 2019 revenues to €23.0m. This performance reflects a very high level of sales posted by owned stores in Q3 2019, which in turn boosted revenues.

• In the 4^th quarter of 2019, the North America (United States/Canada) region also posted very high revenue growth  (€21.1m), up 18.3% at current exchange rates (+14.6% at constant exchange rates) from €17.9m in Q4 2018, boosted both by a recent surge in own store openings  and buoyant sales of existing stores (in particular the Los Angeles store).

• Europe (excluding France and UK) 4^th quarter 2019 revenues amounted to €14.4m up 23.1% at current exchange rates (+21.9% at constant exchange rates) from €11.7m in Q4 2018, largely fuelled by sustained sales growth of owned stores in Switzerland, Belgium and Italy (buoyed by two franchised store purchases in Milan).

• United Kingdom turned in 4^th quarter 2019 revenues of €6.0m compared with €6.1m in Q4 2018. Over the full year, UK revenues came in up 7.8% compared to2018. Also of note was a Q4 2019 retail sales increase among UK owned stores, which will be reflected in Q1 2020 revenues.

Roche Bobois SA posted full-year 2019 revenues of €274.7m, up 6,9% at current exchange rates - above the stated target of 5% - from 2018 revenues of €257.0m.

Very high owned store retail sales growth in Q4 2019

The very buoyant revenue trend was also seen in retail sales at the end of the year. 4^th quarter 2019 owned store retail sales[1] surged 16.7% to €69.9m, up from €59.9m in Q4 2018. This outstanding performance reflects sustained sales growth among owned stores throughout the various regions and success of the Group's collections. In France, it should be noted that the end-of-year strikes did not dampen in-store footfall for the Group, which turned in a sharp increase in sales largely fuelled by the November 2019 8 jours Roche Bobois campaign.

Q4 2019's strong retail sales will bolster Q1 2020 revenues.

Across its owned store chain in 2019, the Group posted double-digit (10.9%) retail sales growth¹ to €254.1m, up from €229.1m in 2018,, primarily due to buoyant business trends of existing stores (up €12.7m) and acquisitions contributing €8.3m.

Finally, across all Roche Bobois Group stores (including franchised stores) retail sales[2] came in at €490.2m, up 6.9% at current exchange rates (+5.6% at constant exchange rates) from €458.6m in 2018.

Sustained store chain expansion in 2019

Throughout 2019, the Group built on its store chain at a steady pace with 7 owned store openings (5 net owned store openings following the closure of Cuir Center Villepinte and Roche Bobois Fribourg stores, which were considered non-strategic):

• 5 owned stores in Europe including 2 owned store openings (trading under the Roche Bobois brand in France (Domus) and Spain (Madrid 2)) and 3 franchised store purchases (trading under the Roche Bobois brand in Spain (Zaragoza), Ireland (Dublin) and  Italy (Turin));
• 2 owned stores in the United States (Roche Bobois Greenwich (Connecticut) and Upper East Side 2 (New York));
• 6 franchised stores: 4 Cuir Center stores in France (Angoulême, La Réunion, Perpignan, and Vannes) and 2 Roche Bobois stores in China (Hangzhou) and in France (Perpignan);

At 31 December 2019, the Group held 332 stores (121 owned stores) including 253 Roche Bobois stores (of which100 owned stores) and 79 Cuir Center stores (of which 21 owned stores).

Continued international expansion – Good visibility for Q1 2020

The Group is pursuing its store opening targets in line with its roadmap. The Group has already planned 4 owned store openings during 2020 in Portugal (Lisbon 2), the United States (Minneapolis), Switzerland (Sion) and Germany (Cologne). The Group is also maintaining the pace of its franchised store openings of 5 to 10 per year.

With regard to the financial outlook, the Group confirms its targets: EBITDA margin set to continue improving exceeding 2019's 9% (before IFRS16), to achieve a double-digit EBITDA margin target by 2021. Moreover, given the surge in Q4 2019 retail sales, the Group forecasts a sharp increase in 1^st quarter 2020 revenues.

Next update: full-year 2019 earnings - Thursday, 26 March 2020 before start of trading

CONTACT

Actus Finance – Anne-Pauline Petureaux

Investor Relations

Tel.: +33 (0)1 53 67 36 72 apetureaux@actus.fr

Actus Finance – Alexandra Prisa

Press Relations

Tel.: +33 (0)1 53 67 36 90 aprisa@actus.fr

APPENDICES

Retail sales/revenues reconciliation (€m)

[1] Note that owned store retail sales constitute the bulk of Group revenue with a time lag of several months; royalty income is earned on franchised stores.

[2] Net order entry  throughout owned stores and franchises for both brands