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Mr Bricolage — Earnings Release 2025
Jul 24, 2025
1535_iss_2025-07-24_b16b732e-ca41-42a9-83fd-a6ba53159d31.pdf
Earnings Release
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Mr.Bricolage
2025 FIRST-HALF EARNINGS
Continued development and investments to support the networks' performance and attractiveness
Orléans, 24 July 2025, 5:45pm CET - Mr.Bricolage SA, which groups together local independent home improvement and gardening stores, is reporting its consolidated earnings for the first half of 2025. In a still disrupted environment, the Group is continuing to move forward with its development strategy, around a long-term vision and a fully mobilized organization focused on preparing for the upturn.
At 30 June 2025, the Group comprised 1,091 points of sale, compared with 1,071 at end-2024. During the first half of this year, the successful launch of the Mr.Bricolage Relais banner and the logistics investments rolled out mark a significant new step forward, designed to improve agility, while further strengthening the networks' performance and appeal.
"I am proud of how far we have come together since 2016. In the last few years, we have restored the Group's fundamentals, reinforced our financial stability and once again given our networks the means to develop sustainably. We have also made strategic choices for our future: deploying the new store concept, investing in logistics, upskilling our teams, and launching the Mr.Bricolage Relais brand.
As I prepare to step down at the end of August, I am fully confident in what lies ahead. The Puissance 1000 plan sets an ambitious course to make Mr.Bricolage number 3 for home improvement in France. It aims to meet four major challenges: growth, green transition, close relationship with our customers and members, and the commitment and engagement of the Group's people.
I know that the new Chairman will carry this ambition forward with dedication and loyalty to the Group's spirit. Everything is in place for Mr.Bricolage to continue moving forward with consistency, efficiency and pride", confirms Christophe Mistou, Mr.Bricolage Group CEO.
Business volume and network development
At 30 June 2025, the Mr.Bricolage Group's member and affiliate network comprised 1,091 points of sale: 20 stores joined the network during the first half of the year, including seven under the Mr.Bricolage banner. The new Mr.Bricolage Relais banner, announced in January 2025¹, reached 39 points of sale during the second quarter of 2025. The improvements in their performance levels compared with the old formats can be seen within their first few months of activity.
This robust development has been achieved despite a still-constrained market. The economic environment over the first half of the year continued to be marked by households remaining cautious with their consumption choices, as well as a slow recovery on the real estate market and weather conditions that were often unfavorable to the stores' activities. The business volume came to €1.1bn, following a -3.1% contraction on a like-for-like store basis, compared with -3.5% in 2024. Compared with last year, signs of improvement can be seen both in France (mainland and DROM-COM overseas territories) and internationally.
During the first half of 2025, 84% of the business volume was recorded in France (mainland and DROM-COM overseas territories), representing €914.6m, with the rest generated on international markets, where 77 Mr.Bricolage banner stores operate in 11 countries (as at 31 December 2024), with a business volume of €171.8m. Online sales (excluding click-and-collect) for the first half of 2025 were affected by increased competitive pressure and adjustments to the offering and technical tools. This activity continues to be a complementary driver within a model that is built primarily around a local store network.
¹ See the press release from 23 January 2025 here.
| Volume of business incl. taxes €m | Number of stores | 30 June 2025 | Change on total store basis | Change on like-for-like store basis |
|---|---|---|---|---|
| In-store sales | 1,091 | 1,086.4 | -2.9% | -3.1% |
| - France(1) | 1,014 | 914.6 | -3.6% | -4.2% |
| - International(2) | 77 | 171.8 | +1.1% | +1.3% |
| Online sales(3) | ||||
| (excl. click-and-collect) | - | 5.1 | -26.5% | na |
| Total | 1,091 | 1,091.5 | -3.0% | -3.1% |
(1) With 345 Mr.Bricolage brand stores, 39 Mr.Bricolage Relais brand stores and 630 affiliate stores under independent brands.
(2) 77 Mr.Bricolage brand stores operating in 11 countries: Andorra (1), Belgium (44), Bulgaria (13), Cyprus (1), Gabon (2), Ivory Coast (1), Kosovo (1), Macedonia (1), Madagascar (1), Mauritius (3), Morocco (9).
(3) The "online sales" item includes home delivery sales and sales collected from Mr.Bricolage stores (excluding click and collect).
Mr.Bricolage Group revenues
In the first half of 2025, the Mr.Bricolage Group generated consolidated revenues of €158.4m, compared with €151.7m for the same period in 2024. This 4.4% growth was driven by the increase in the number of points of sale operating under the Group's banners, alongside the improvement in performance at points of sale integrated into the Group's networks. Specifically, the increase in sales of goods (+5.2%) benefited from the first effects of the investments made in the logistics organization, while sales of services (+2.4%) factor in the development of services provided by Mr.Bricolage's training institute (IFOGECO, included in the scope since 1 January 2024) to external stakeholders outside the networks, as well as the new revenues generated by Mr.Bricolage Relais.
| Consolidated revenues - IFRS (€m)(1) | H1 2025 | H1 2024 | Change |
|---|---|---|---|
| Sales of goods | 115.1 | 109.4 | +5.2% |
| Sales of services | 43.4 | 42.3 | +2.4% |
| Total consolidated revenues | 158.4 | 151.7 | +4.4% |
(1) The results for the first half of 2025 were approved by the Board of Directors during its meeting on 24 July 2025. The first-half financial statements are not subject to a limited review by the statutory auditors.
Mr.Bricolage Group earnings & cash
The change in results reflects the investments made as part of the 1Pacte plan. They focused primarily on modernizing the information systems and logistics organization. Despite the economic environment, the Group has chosen to maintain its roadmap, while further strengthening budget discipline at its headquarters. In this context, the Group recorded €13.7m of EBITDA, with a margin rate of 8.6%, versus 9.7% for the same period in 2024.
The operating profit totaled €4.9m, with an operating margin of 3.1%. It includes €3.8m of non-recurring operating expenses relating to the 1Pacte plan. They concern the resources allocated to the information systems, as well as to the modernization and expansion of the logistics warehouse in Voivres-lès-le-Mans (72). Announced at the end of January 2025, this logistics component of the 1Pacte plan will help strengthen the quality of the services provided for members, while improving productivity through better working conditions and a more efficient organization. The total investment of €17.2m² includes the doubling of logistics space and the installation of a next-generation robotized solution, delivered during the second half of 2025. Excluding these non-recurring items, the current operating profit for the first half of 2025 came to €8.7m, with a current operating margin of 5.5%, versus €10.1m and 6.6% for the first half of 2024.
Financial income and expenses for the first half of 2025 totaled €(1.1)m, compared with €(0.8)m for the same period in 2024, reflecting a reduction in net financial expenses, offset by an increase in other expenses linked to the valuation of foreign exchange positions at the end of the half-year period.
After €1.0m of profit after tax from discontinued operations³ and €0.8m of income from associates, the net profit for the first half of 2025 came to €5.0m, delivering a net margin of 3.2%, compared with 5.6% for the same period in 2024.
At end-June 2025, net financial debt totaled €6.9m, stable compared with the end of June 2024. The Group had €43.5m of cash, compared with €47.2m at end-2024. The Group has additional borrowing capacity available under the syndicated credit agreement set up at the end of September 2022. This financial position reflects the effective management of cash against a backdrop of continued investments with the 1Pacte plan.
| Condensed consolidated accounts - IFRS (€m)(1) | H1 2025 Reported | H1 2024 Reported | Change Like-for-like |
|---|---|---|---|
| Consolidated revenues | 158.4 | 151.7 | +4.4% |
| EBITDA(2) | 13.7 | 14.7 | -6.6% |
| % of revenues | 8.6% | 9.7% | |
| Current operating profit | 8.7 | 10.1 | -13.2% |
| % of revenues | 5.5% | 6.6% | |
| Other non-current operating income and expenses | (3.8) | (1.5) | |
| Operating profit | 4.2 | 8.6 | -42.8% |
| % of revenues | 3.1% | 5.7% | |
| Financial income (expense) | (1.1) | (0.8) | +31.8% |
| Contribution from associates | 0.8 | 1.0 | -19.5% |
| Corporate income tax | (0.6) | (1.1) | |
| Profit after tax from continuing operations | 4.1 | 7.7 | -47.2% |
| Profit after tax from discontinued operations | 1.0 | 0.7 | +28.2% |
| Profit (loss) for the period | 5.0 | 8.5 | -40.6% |
| % of revenues | 3.2% | 5.6% | |
| - Group share | 5.0 | 8.5 | |
| - Minority interests | - | - |
(1) The results for the first half of 2025 were approved by the Board of Directors during its meeting on 24 July 2025. The first-half financial statements are not subject to a limited review by the statutory auditors.
(2) EBITDA = "Current operating profit" + "Depreciation and amortization".
Key developments after the half-year close
On 3 July 2025, the Group announced that Christophe Mistou, its Chief Executive Officer since 2016, will step down from his role on 31 August 2025. Under his leadership, the Group has turned around its financial position, notably reducing net debt from over €100m to under €10m, and successfully rolled out two major transformation plans, REBOND and 1Pacte. The leadership transition is part of a structured and confident process, carried out in close coordination with the new Chair and the management team.
On 8 July 2025, Didier Julien was appointed Chairman of the Board of Directors of Mr.Bricolage SA, taking over from Paul Cassignol, who had held this position since 2015. An entrepreneur in the retail sector for over 14 years, Didier Julien notably heads up 15 Mr.Bricolage banner stores in several regions and has a deep understanding of the operational realities faced in the field. Part of the Group's network activities for many years, he brings a demanding and collaborative entrepreneurial vision, supporting sustainable growth.
On 24 July 2025, the Board of Directors decided to appoint Didier Julien as interim Chief Executive Officer from 1 September 2025. He will temporarily combine the roles of Chairman of the Board of Directors and Chief Executive Officer until a new Chief Executive Officer is appointed. This interim organization will be supported by reinforced collective leadership with the Management Committee.
With this focus on continuity, the Puissance 1000 plan, which will be launched in 2026, sets out a clear ambition: to establish Mr.Bricolage as the no.1 brand for independent home improvement retail in France and internationally, and to become no.3 on the French home improvement market. Structured around four core pillars - growth, green transition, customer and member relations, and engagement, the plan aims to further strengthen the Group's competitiveness and the attractiveness of its model for local independent retailers over the long term.
3 This corresponds to reversals of provisions or liabilities that were no longer applicable after the "Retail" business was shut down (2019-2020)
4
Outlook for 2025
In 2025, the Group is finalizing the deployment of its 1Pacte plan, rolled out to develop the competitiveness and attractive positioning of the banners, while aligning the Group with a strategy for responsible growth. The priority initiatives include:
- Continued deployment of the new Mr.Bricolage Relais brand nationwide,
- Completion and delivery of the new robotized warehouse in Voivres-lès-le-Mans during the second half of the year,
- Preparation of two pilot initiatives announced on 16 June 2025 for launch in 2026: test distribution of Kingfisher private label brands in certain stores, and conversion of a Mr.Bricolage point of sale to a Brico Dépôt franchise.
- Effective management of costs in an increasingly challenging economic context.
In terms of the general environment, the Group will continue to take into account a deterioration in the economic climate, impacting household consumption and the construction market. The Group is focused on ensuring its good financial health and managing its costs effectively. Alongside this, the Group is continuing to provide streamlined support for its members and affiliates to help drive their long-term expansion, their competitiveness and their customer loyalty.
FINANCIAL CALENDAR
The 2025 first-half financial report will be available from 24 July 2025 on www.mr-bricolage.com and the Euronext site.
ABOUT THE MR.BRICOLAGE GROUP
The Mr.Bricolage Group, which develops the well-known banners Mr.Bricolage and Mr.Bricolage Relais, is the specialist for local independent home improvement retail in France. As of June 30th, 2025, the Group has 1091 stores operating under the banners or through affiliates, including 77 international stores across eleven countries. Mr.Bricolage SA is listed on Euronext Growth Paris (ISIN: FR0004034320 - ALMRB).
CONTACTS
Corporate media - Pierre-François Jan, [email protected], +33 6 83 82 94 78
Financial media & investors - Marie Calleux, [email protected], +33 1 53 65 68 66