B&M European Value Retail SA (OTCPK:BMRPF)
$ 4.222 -0.628 (-12.95%) Market Cap: 4.37 Bil Enterprise Value: 7.22 Bil PE Ratio: 10.05 PB Ratio: 4.74 GF Score: 79/100
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Half Year 2021 B&M European Value Retail SA Earnings Call Transcript

Nov 12, 2020 / 09:30AM GMT
Release Date Price: $6.64
Sundeep Arora
B&M European Value Retail S.A. - CEO & Executive Director

Good morning, everyone, and thank you for joining us today. I'm pleased to talk us through the half year results for the 6-month period up to the 26th of September 2020. So as you see on the Slide 2, our highlights. We had a very strong half year, with group revenues increasing by 25%. Our U.K. like-for-like revenues were very healthy indeed at 23%. And you can see there that that strong performance was across both quarters. In terms of our all important store opening program, of course that was impacted by the lockdown and the initial impact of the pandemic. And you see that we only opened 9 stores, but we did close 8 stores. We'll come back to that later because actually those closures make good financial sense.

At Heron, they were similarly impacted. They opened 7 stores. And in France, we opened a net 2 stores, but the more important dynamic in our French business is that we now have 37 stores trading under the B&M banner.

As a result of the strong trading, our group EBITDA almost doubled to GBP 295

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