Business
Spartoo Reports 2024 Full-year Results Highlighted by a Sharp Increase in Its Free Cash Flow
Spartoo Reports 2024 Full-year Results Highlighted by a Sharp Increase in Its Free Cash
About this update from Spartoo Sas
[{"type":"text","content":"\nRegulatory News:\n\nSpartoo (ISIN code: FR00140043Y1 – ticker: ALSPT), one of the leading online retailers for fashion items in Europe, today announced its Full Year Results for the year ended December 31st, 2024, as approved by the Board of Directors on March 20th, 2025. Audit procedures on the consolidated financial statements are in progress and the certification report will be issued after finalization of the full-year report.\n\nAs of December 31st, 2024, the Gross Merchandise Value amounted to €184.7 million, -7.7% compared with 2023.\n\nBoris Saragaglia, co-founder, Chairman and Chief Executive Officer of Spartoo, stated: “Spartoo remained true to its commitments in 2024, increasing its free cash flow to more than €6 million by optimizing its investments and costs and reducing its inventory. This strategy, which had already demonstrated its relevance in 2023, continues to pay off in 2024. Despite a still deteriorated market environment, we thus managed to maintain a positive adjusted EBITDA, almost stable compared to 2023, by reducing our net debt by more than half over the period. Our recent decision to focus offline activity on the creation of corners and affiliation should also have a favorable impact on our profitability in the 2025 financial year.”\nBtoC activity, online & offline\nSpartoo continued its policy of offering a wide range of footwear, ready-to-wear, bags, and accessories throughout 2024 with more than 1.6 million unique references in Europe thanks to its marketplace.\n\nThe average basket increased by €2 (+2%), thanks to higher unit selling prices.\n\nAs of December 31, 2024, Spartoo had 36 points of sale, including 21 corners in department stores. As announced on February 19, 2025, a judicial liquidation procedure for the subsidiary TOOSTORES R1 was initiated by Spartoo at the Commercial Court of Grenoble. This involves the immediate cessation of activity at 22 points of sale, including 10 owned stores. This procedure is the direct consequence of the significant increase in the rent index and inflation on the Group's fixed costs in a context of contracting demand. The omnichannel approach nevertheless remains firmly at the center of the Group's priorities through an asset-light strategy focused on the network of affiliates and the creation of corners.\n\nBrands acquired by the Group such as JB Mar...