As the year drew to a close, Fnac Darty wrapped up 2024 on a high note, boasting a 0.7% increase in revenue that totaled 8.253 million euros. This achievement not only met but surpassed the company’s strategic objectives, a testament to its ability to adapt and thrive in a rapidly changing market landscape. At the heart of this success story lies the company’s bold omnichannel strategy, which catalyzed growth by a notable 1.7 percentage points. This forward-thinking approach accounted for a significant 52% of the group’s online sales, underscoring the power of embracing a multifaceted sales model. Furthermore, the company saw a boost in market share during the year-end commercial events, thanks in large part to savvy marketing campaigns and a loyal customer base.
The gross margin for the period stood at an impressive 30.6%, up from 30.2% in the same period of 2023. This uptick was largely driven by the significant contribution of services, which added 50 basis points to the bottom line. In terms of cash generation, 2024 proved to be a fruitful year, with 195 million euros generated, marking a 15-million-euro increase over the previous year. Over the 2021-2024 period, the company accumulated an impressive 515 million euros, outpacing the objectives set forth in its Everyday strategic plan and laying a solid foundation for future growth. Reflecting the company’s confidence in its future prospects and commitment to shareholder remuneration, a dividend of one euro per share was proposed, representing an increase of 55 cents over 2023.
Looking ahead, significant synergies of over 20 million euros are anticipated, primarily stemming from the optimization of purchasing conditions. On a regional level, Fnac Darty’s revenues in the Iberian Peninsula saw a marked increase of 12% in reported data and 2.8% in comparable data. Both Portugal and Spain recorded sales growth, largely attributed to the improvement in macroeconomic indicators.
Perspectives for 2025
As the focus shifts to 2025, the group is poised for mid-single-digit growth in operating results. In conjunction with this positive outlook, a new strategic plan for the company is slated to be unveiled in June. Enrique Martínez, Fnac Darty’s General Director, reflected on 2024 as a year of significant achievements, despite market slowdowns. The successful transformation of the company, its focus on sustainability, innovation, and leadership in Artificial Intelligence have consolidated its unique position in the sector. Martínez emphasized the omnichannel strategy and the diversification of offerings, with services at the heart of its business model, as key factors in this strong performance.
The year was also marked by significant events and celebrations that offered considerable potential for boosting brand visibility, including the 70th anniversary of Fnac and the 50th anniversary of Darty’s ‘Contrat de confiance’. Furthermore, 2024 witnessed the acquisition of Unieuro, Italy’s leader in specialized retail, a move seen as a decisive step in the company’s development and a strengthening of its position as a European leader. This significant external growth operation, the largest in the group’s history since its inception, promises prospects of growth, consolidation, and synergies that are nothing short of promising.
In conclusion, Fnac Darty’s performance in 2024 stands as a testament to the company’s resilience, strategic foresight, and ability to navigate complex market conditions. With a strong foundation laid for future growth and a clear vision for 2025, the company is well-positioned to continue its trajectory of success.