(AOF) – In the first half of 2024, Bogart publishes a turnover of 134 million euros, down 2.6% compared to the same period last year, in a less buoyant overall economic environment. It takes into account the mechanical drop in turnover in Spain following the change in the subsidiary’s model and certain scope effects (integration of new stores in Germany and optimization of 3 stores in Dubai). At constant scope and exchange rates, it appears almost stable (-0.3%).
The gross margin stood at 70.2 million euros as of June 30, 2024, compared to 71.4 million euros as of June 30, 2023. The margin rate stood at 52.3%, versus 51.9%, illustrating the very good margin performance.
Over this first half, Ebitda increased by double digits (+13.9%), to 17.2 million euros compared to 15.1 million euros as of June 30, 2023, thanks in particular to the strong increase on the Bogart Beauty Retail division (Ebitda of 9.5 million euros as of June 30, 2024 compared to 7.7 million euros as of June 30, 2023).
The operating loss decreased and amounted to 1.2 million euros as of June 30, 2024 compared to a loss of 3.1 million euros as of June 30, 2023.
The net loss is 5.2 million euros as of June 30, 2024 compared to a loss of 7.1 million euros in the first half of 2023.
In terms of prospects, Bogart remains committed to pursuing its profitable growth strategy in 2024 driven by its two activities (Bogart Fragrances & Cosmetics and Bogart Beauty Retail). The good momentum of perfume and cosmetic launches in the second half will support the activity of the Bogart Fragrances & Cosmetics division.
At the same time, Bogart continues to concentrate its efforts on increasing its margins in its business areas and continues to give priority to turnover with higher added value.
The group also remains attentive to external growth opportunities to continue to expand its scope of stores in Europe.
