Fnac Darty ready for new acquisitions

Having reached the end of its four-year "Everyday" plan , Fnac Darty is ending 2024 on a positive note. Last year, the group saw its turnover increase by 0.2% on a comparable basis, reaching almost 8 billion euros. At 182 million euros, operating income increased by 6% over one year. Based on digital, services (repair subscriptions, etc.) and acceleration in second-hand products, the priorities of this plan have enabled the company to resist in a feverish electronics and household appliances market. And this despite the sharp decline in sales of Nature et Découvertes, acquired in 2019. In France, its main market with more than 80% of its sales, its overall activity thus increased by 0.3% last year, in a market down 2% according to figures from the Banque de France.

"We have managed to grow our business in a struggling market," says Enrique Martinez, CEO of Fnac Darty since 2017. "Which is very satisfying. We are managing to decouple our performance from the environment in which we operate." From this point of view, the group says it is confident for the year ahead, given the recovery in the real estate market, which is favorable to the rebound in sales of household equipment. Not to mention the arrival of AI-boosted products. "Something may be turning around," believes the manager.

Although its objectives of slight annual growth set for 2021 were not strictly met, the group managed to meet the target of crossing the threshold of 180 million euros in current operating income in 2024, and of generating cumulative free cash flow over the period 2021-2024 of 500 million euros.

Fnac Darty is above all displaying its ambitions for the future, driven by its largest shareholder since 2023, Czech billionaire Daniel Kretinsky. At the end of 2024, the distributor acquired its Italian counterpart Unieuro for 249 million euros . A major operation for the distributor that will bring it close to 11 billion euros in turnover this year, and move Italy to second place in the group, behind France and ahead of Spain.

While it is forecasting growth of around 5% in its current operating profit (excluding Uniero and ticketing) in 2025, Fnac Darty will detail its new 3-5 year roadmap next June. "Unsurprisingly, Italy will play a significant role, as will services, whose contribution to turnover is now 15%," adds Enrique Martinez. Above all, beyond our consolidation in our historical markets, we are not ruling out new external growth operations, which our very healthy balance sheet allows us to do." With more than 11 million subscribers or members of its highly profitable services, the group can count on a solid base of loyal customers.