DOUGLAS records strong growth in the second quarter of 2023/24 The DOUGLAS Group (Link: Börse Frankfurt), Europe’s leading omnichannel provider for premium beauty, recorded profitable growth in the second quarter of the 2023/24 financial year (January – March 2024). The company recorded double-digit growth rates both offline and online. Group sales increased by 11.5% to around 958 million euros compared to the previous year. This is the eleventh consecutive quarter in which the DOUGLAS Group has recorded an increase.
Both shops and e-com business developed positively
Both the shops and the E-Com business performed well: store sales (net) rose by 11.9% (lfl: +10.8%) and the E-Com business (net) by 10.7% (lfl: +10.4%). CEO Sander van der Laan emphasised the strong performance in all segments and the omnichannel model as growth drivers. The continuous increase in consolidated sales and the improvement in profitability are a success for the company. In the first half of the fiscal year, the DOUGLAS Group generated net sales of around 2.5 billion EUR, an increase of 9.3% compared to the previous year.
Expansion of the store network – One Warehouse, All Channels – standardised IT landscape
With the implementation of the “Let it Bloom – DOUGLAS 2026” corporate strategy, the DOUGLAS Group is pursuing further growth targets. This includes the expansion of the store network with newly opened and modernised locations and the implementation of the forward-looking OWAC model (OWAC = One Warehouse, All Channels) throughout Europe. A standardised IT landscape will also improve the company’s efficiency and agility.
DOUGLAS records strong growth – net debt reduced
In April 2024, following its listing on the Frankfurt Stock Exchange, the DOUGLAS Group completed a comprehensive refinancing and reduced its net debt through the main proceeds from the IPO, an equity
from the IPO, an equity injection from CVC and the Kreke family as well as existing liquidity by around EUR 1.3 billion.
Positive outlook for the 2023/24 financial year
For the 2023/24 financial year and in the medium term, the DOUGLAS Group is forecasting an increase in sales of around 7%, driven by both channels. The positive development of adjusted EBITDA is expected to reach the target margin of around 18.5%. The DOUGLAS Group is well positioned to achieve the targets it has set itself and to fulfil both this year’s and medium-term expectations.
[Text: parfuemerienachrichten/Picture: Douglas]
