Manutan International

Earnings Release • Oct 15, 2020

Gonesse, October 15th 2020

MANUTAN GROUP 2019/2020 Q4 Turnover

Return to growth in Q4 Over the 2019/2020 fiscal year, the Group's turnover recorded slight growth compared to the previous year, in the very turbulent economic context due to the health crisis.

€ thousands	Turnover at the end of September 2020	Turnover at the end of September 2019	Q4 2020	Q4 2019	Q3 2020	Q3 2019	Q2 2020	Q2 2019	Q1 2020	Q1 2019
Turnover like-for-like	755 454	768 242	213 049	205 399	178 598	190 484	172 522	179 748	191 286	192 612
Contribution of acquired companies*	24 251	5 643	5 958	5 643	5 860	0	6 696	0	5 737	0
Total turnover	779 705	773 885	219 007	211 042	184 458	190 484	179 218	179 748	197 023	192 612

*Acquisition of Kruizinga on June 14th 2019

Over the 2019/2020 fiscal year, the Manutan Group's Turnover amounted to € 779.7 million compared to € 773.9 million previous fiscal year, an increase of +0.8% ( -1.6% at like-for-like scope, constant exchange rates and number of working days, with a scope effect of +2.4%, a currency effect of -0.04% and a day effect of +0.05%).

During Q4 2019/2020 fiscal year, the Manutan Group's business has grown by +3.8% compared to the same quarter of fiscal year 2018/2019. This increase amounted to +3.6% at constant exchange rates and number of working days (with a currency effect of +0.03% and a day effect of +0.1%). Turnover therefore stood at € 219.0 million compared to € 211.0 million for the fourth quarter of the previous year.

In terms of its operational areas, the Group's situation is as follows :

€ thousands	Turnover at the end of September 2020	Turnover at the end of September 2019	Q4 2020	Q4 2019	Q3 2020	Q3 2019	Q2 2020	Q2 2019	Q1 2020	Q1 2019
Enterprises	593 705	573 296	145 202	139 363	147 466	139 039	152 078	150 229	148 959	144 665
South	284 905	269 953	68 427	62 544	75 285	65 805	69 506	71 546	71 687	70 059
Centre	143 552	126 482	35 799	33 880	33 448	29 012	38 693	32 713	35 613	30 877
West	106 454	114 577	27 954	29 544	24 583	28 713	27 065	29 611	26 852	26 709
North	35 160	38 892	8 165	7 874	8 897	9 664	9 104	10 488	8 995	10 867
Est	23 634	23 392	4 858	5 522	5 253	5 846	7 710	5 871	5 812	6 153
Local Authorities	186 000	200 589	73 805	71 679	36 992	51 445	27 140	29 519	48 064	47 947
South	186 000	200 589	73 805	71 679	36 992	51 445	27 140	29 519	48 064	47 947
TOTAL	779 705	773 885	219 007	211 042	184 458	190 484	179 218	179 748	197 023	192 612

At constant exchange rates and on a like-for like basis	1st Quarter	2nd Quarter	3rd Quarter	4th Quarter	Financial Year
Enterprises	-0.6%	-5.0%	+2.8%	+4.0%	+0.2%
South	+3.6%	-4.1%	+13.8%	+9.3%	+5.4%
Centre	-2.7%	-3.7%	-3.2%	+5.3%	-0.8%
West	-3.7%	-12.9%	-12.2%	-6.2%	-8.8%
North	-14.3%	-11.8%	-5.0%	+2.6%	-7.9%
Est	-1.1%	+30.0%	-4.5%	-8.6%	+4.0%
Local Authorities	+2.8%	-9.5%	-27.4%	+3.0%	-6.8%
South	+2.8%	-9.5%	-27.4%	+3.0%	-6.8%
TOTAL	+0.2%	-5.7%	-5.4%	+3.6%	-1.6%

• The Enterprises division growth in the fourth quarter (+4.0%) was mainly driven up by the South area and Centre areas. The North area got back on the path to growth after three quarters declined. The East area was impacted by a sharp decline in Poland, which nevertheless remained in strong growth throughout the year. The West area continued to be impacted by the slowdown in business due to the pandemic.
• The activity of the Local Authorities division returned to growth in the fourth quarter (+3.0%), after the decline in the two previous quarters, linked to schools' closure policy during the lockdown period in France.

The Group's priorities remain focused on adjusting and developing its product and service offering to best meet the changing needs of its customers, while ensuring the safety of its partners and employees. The health crisis enabled the Group to step up its investments in Digital, which fully contributed to growth over the year. All the warehouses have remained and remain operational and keep also applying all the instructions and protective measures recommended by the health authorities in each country where the Group operates.

Due to the uncertainties surrounding the current global crisis, it is hard to estimate how the Group's results for the coming months will be affected, but Manutan is going the extra mile to minimise the repercussions while continuing to prepare for the future and draw strength from its ever solid key attributes.

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About the Manutan Group

Manutan, a family-run group founded in 1966, is a European leader in BtoB e-commerce, specializing in the distribution of equipment for businesses and local authorities.

Offering one of the most extensive range of high-quality products and services in Europe, the Group satisfies all its customers' needs and delivers support and guidance in streamlining their indirect purchases.

With 26 subsidiaries across 17 European countries, the Group employs over 2,200 people and generated revenue of €774 million in 2018/19. Manutan France received the Best Workplaces distinction in 2020.

Manutan International is listed on Euronext Paris – Compartment B - ISIN: FR0000032302-MAN.

www.manutan.com

Next publication : Annual results 2019/2020 December 2nd 2020 (after market closure)