Mr Bricolage — Earnings Release 2014

May 14, 2014

Business for 1st quarter 2014

"Our Group returned to growth in the first quarter, mainly driven by the better weather in France. In this more favourable environment, we remain focused on our priorities for 2014: developing our networks, improving the performance of Directly-Owned Stores and deploying e-commerce", Jean-François Boucher, Chairman and CEO of Mr Bricolage SA, commented.

Change in consolidated turnover 1 st quarter 2014

Pre-tax turnover(€ million)	31.03.2014	31.03.2013	% Change
Retail	82.7	81.2	+1.9%
Sales in Directly-Owned Stores	80.0	78.5	+1.9%
Online sales	2.7	2.7	+3.3%
Network Services	50.2	46.7	+7.5%
Total consolidated turnover	132.9	127.8	+4.0%

At 31 March 2014, Mr Bricolage SA posted consolidated turnover of €132.9 million, up 4.0% compared with 31 March 2013. In a favourable market environment (+5.0% in France at end-March, source: Banque de France), all activities contributed to growth, in line with the networks business.

"Retail" business: turnover of €82.7 million as at 31 March 2014 (+1.9%)

Retail turnover includes sales in stores owned by the Group ("Directly-Owned Stores") and sales made on the internet with home delivery ("Online sales").

Turnover of Directly-Owned Stores: €80.0m

Pre-tax turnover (€ million)	31.03.2014	Change (current surface area)	Change (like-for-like store basis)	Number of stores at 31 March 2014
Total turnover Q1 2014	80.0	+1.9%	+4.0%	81

The Directly-Owned Stores business registered growth of:

• +4.0% on a like-for-like store basis, a return to growth in line with networks business in France;
• +1.9% on a current surface area, reflecting changes in the scope (following two disposals, three definitive closures and one provisional closure in 2013, and the acquisition of the Coulommiers store in October 2013)

There was no change in scope in the first quarter of 2014. The Directly-Owned Store in Orléans, part of the Group's "down-town store" concept, opened on 2 April.

Turnover Online sales: €2.7m

Sales of websites le-jardin-de-catherine.com, la-maison-de-catherine.com and national website mr-bricolage.fr (home delivery) advanced 3.3% to €2.7 million in the first quarter of 2014. Note that the first quarter is considered as low season for this business.

"Network services" business: turnover of €50.2 million as at 31 March 2014 (+7.5%)

Pre-tax turnover(€ million)	31.03.2014	31.03.2013	% Change
Sales of goods	31.7	29.3	+8.2%
Sales of services	18.4	17.3	+6.4%
Total turnover	50.2	46.7	+7.5%

"Network Services" posted growth in turnover of 7.5% in the first quarter, higher than the growth registered in the networks:

• Sales of goods to member stores: €31.7 million, up 8.2%, owing to the continued growth of the warehouse in Cahors, the upturn in sales of goods passing through the outsourced logistics platform, and online sales of the national website mr-bricolage.fr taken from the store (delivery centres);
• Sales of services to referenced suppliers and member stores: €18.4 million, up 6.4%.

Group continues to reduce debt

The Group's net debt stood at approximately €143 million at 31 March 2014, versus €150 million at 31 March 2013 (based on unaudited figures).

Networks business: 885 stores with a tax-inclusive turnover of €498.3 million at 31 March 2014

Turnover of networks

Tax-inclusive turnover (€ million)	31.03.2014	Change (current surface area)	Change (like-for-like store basis)(4)	Number of stores
In-store sales	494.6	+2.1%	+4.0%	885
of which France (2)	447.7	+1.2%	+3.9%	816
of which International (3)	46.9	+10.5%	+4.4%	69
Online sales	3.7	+17.4%	-	-
Total tax-inclusive turnover for networks	498.3	+2.2%	+4.0%	885

(2) Of which 298 affiliated stores operating outside the brand.

(3) 10 countries: Andorra (1 store), Belgium (43), Eastern Europe (15), Morocco (4), Mauritius (2), Madagascar (2) and Uruguay (2)

(4) Changes calculated on all Mr.Bricolage stores, a panel of 83 Briconautes stores and 23 affiliates

In France, the networks under the Mr.Bricolage and Les Briconautes brands registered growth in turnover on a like-for-like store basis of 4.0% and 2.7%(4) respectively. These brands opened five stores in the first quarter of 2014, out of eight planned for the full year.

The turnover of the five stores operating under the L'Entrepôt Du Bricolage brand (sold in March 2014 with effect from 1 January 2014) will not contribute to that of the networks business in 2014. Its contribution in Q1 2013 was €2.6 million.

Finally, the business was boosted by growth in e-commerce, which registered an increase of 17.4% in turnover including tax to €3.7 million.

In international terms, the business registered growth of 10.5% at current surface area and of 4.4% on a like-for-like store business, resulting from:

• a strong sales performance in Belgium (+21.5% at current surface area and +8.9% on a like-for-like store basis), boosted in particular by five openings and acquisitions conducted in the last 12 months,
• an upturn in business in Eastern European countries (+0.1% at current surface area and +2.1% on a like-for-like store basis).

Next press release: > 2nd quarter 2014 turnover: Thursday, 24 July 2014, after market close

About the Mr Bricolage Group

Mr Bricolage is France's no. 1 local DIY retailer (816 branded or affiliated stores as at 31 March 2014) and has 69 stores in ten other countries. The Mr Bricolage Group operates under the Mr.Bricolage and Les Briconautes brands, and also through approximately 300 affiliates. The Group continues to implement is multi-channel strategy, through networks of stores and online stores.

Mr Bricolage SA (MRB - FR0004034320) is listed on compartment C of Euronext Paris, and is part of the Gaïa (selection of 70 responsible SMEs), CAC Mid&Small and CAC All-Tradable indices.

Mr Bricolage SA is eligible for the PEA-PME savings plan

Contacts

• Head of Financial Communications:
• › Eve Jondeau 02 38 43 50 00 eve.jondeau@mrbricolage.fr
• Financial Communications - Actifin:
• › Nicolas Meunier 01 56 88 11 11 nmeunier@actifin.fr
• › Charlène Masson 01 56 88 11 11 cmasson@actifin.fr

For full Group financial information www.mr-bricolage.com

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