The net result of the LabelVie group amounted to 417.2 million dirhams (MDH) for the 2021 financial year, up 24% compared to 2020, announced Amine Bennis, Deputy Managing Director, in charge of finance department.
At the end of a financial year marked by a good commercial dynamic at the level of all business segments, the group was able to achieve a consolidated turnover of nearly 11.76 billion dirhams (MMDH), up of 7% compared to 2020, an increase of 619 MDH, underlined Mr. Bennis.
And to specify that this performance is driven by the increase in sales on a like-for-like basis of 47 million dirhams despite the exceptional sales made during the first half of 2020 as well as by the sales made by the stores opened in 2020 and 2021, with a volume additional 573 MDH.
Read also | French Customs launches its Open Innovation platform
In addition, Amine Bennis underlined that the gross operating surplus (EBITDA) crossed the threshold of 1 billion dirhams in 2021, thus achieving an increase of + 14% compared to its level of 2020, an improvement of 0, 7 point, driven in particular by the optimization of operating margins thanks to the improvement of purchasing conditions and the levels of markdowns on inventory, the contribution of the openings carried out in 2021, as well as by the control of operating expenses .
With regard to the financial result, it went from -16.4 MDH in 2020 to +12.8 MDH in 2021, i.e. an improvement in value of 29 MDH and +0.28 point in terms of ratio on sales, he added, noting that this positive performance, which according to him constitutes “a first in the history of the group”, is explained by the marked improvement in financing costs and the increase in investment income.
Read also | Abdelhamid Addou, in the top 50 leaders of the tourism industry in the MENA region in 2022 [Forbes]
In this same context, Mr. Bennis underlined that the year 2021 represents “a record year” in terms of openings, with 27 new operational stores covering all the group’s business formats. Dwelling on all the events that marked the past financial year, he highlighted the digital transformation program which affects all of the group’s functions and which aims to improve its performance. , in addition to bringing undeniable added value to customers, through the proposal of additional services.
“This year also saw the filing and obtaining of an authorization for the management and operation of a Real Estate Collective Investment Scheme (OPCI) bearing the name of “Terramis”, which will be exclusively held by LabelVie and managed by an independent management company with a board of directors and renowned administrators, who will certainly and undeniably bring added value to the group’s land and property management activity”, he specified.
Read also | High tech. Israel to train students from five Arab countries, including Morocco
Still according to Mr. Bennis, this OPCI will also be able to bring a certain number of advantages to the group, namely, the revaluation of its land and real estate assets and support for the group in its development, by making investments in land and real estate in particular who will be able to strengthen and add value to the group’s financial balance.
With regard to the outlook for 2022, the group intends to maintain its accelerated development program with the opening of new points of sale, i.e. a program which should cover the three business segments. Also, the month of January 2022 has already seen the opening of two new points of sale. Not to mention that the group is continuing its digital transformation program initiated in 2021 in order to best meet the consumption needs of customers, according to Amine Bennis.