The parent company of electronics chains Vanden Borre and Fnac broke the 8 billion euro sales barrier in the past year. The group announced an exceptional bonus for its employees, who were “most affected by inflation”.
Stores perform solidly
Fnac Darty closed the year 2021 with a turnover of 8.04 billion euros, 7.4 per cent higher than a year earlier. Last year, too, there were Covid restrictions, but they were less severe and far-reaching than in 2020. At the stores, footfall gradually normalised, and the percentage of customers who purchased items increased, as did the average amount they spent. In addition, the electronics group highlights the highly successful year-end period.
The operational result from everyday business operations rose from 215 million euros to 271 million euros. Over 15 million euros of this was realised in Belgium and Luxembourg. The group’s operating margin increased by 50 basis points to 3.4 per cent. Net profit amounted to 160 million euros.
“Given the uncertain context in which we have been operating for the past two years, the group has managed to anticipate customers’ expectations, adapt its organisation and accelerate its development in the digital domain”, Belgian newspaper La Libre quotes CEO Enrique Martinez.
E-commerce has indeed become an essential channel for Fnac Darty. Online sales already accounted for 26 per cent of total turnover last year, 7 percentage points better than before the outbreak of the coronavirus crisis.
The strong results incentivised the company to let its staff share in the profits, especially those who “suffered most from the current inflations”. In France, all employees with a gross annual salary below 35,000 euros will receive an additional bonus of 400 euros. The group promises a similar reward for employees in the other countries in which it operates.
Alongside the company results, it was also announced that Czech billionaire Daniel Kretinski now owns more than 5 per cent of the retail group’s shares through his Luxembourg investment fund Vesa Equity Investment. The businessman also has financial interests in retailers such as Metro, Eroski, Sainsbury’s and Casino.