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HalfPrice with an EBITDA margin of 12.6%

Nov 11, 2022 Poland
HalfPrice with an EBITDA margin of 12.6%
The Polish-based group CCC posted results for the third quarter of 2022, underlining that the HalfPrice business delivered operating profitability just a year and a half from its inception
In the third quarter of the current fiscal year, the CCC group posted revenue of 2.4 billion Polish Zloty (512.8 million euros), which reflects an increase of 18%, on a comparable basis to the same period of last year. The company noted that this figure represents the "highest ever quarterly sales" recorded.  E-commerce sales accounted for 51.7% of the total revenue, up by 4.3 percentage points, year-over-year. Furthermore, CCC's EBITDA in the third quarter totalled 197 million Polish Zloty (42.1 million euros), with an EBITDA margin of 8.1%.

HalfPrice, reflecting "a more than threefold year-on-year increase", generated a revenue of 258 million Polish Zloty (55.1 million euros) in the third quarter of the current fiscal year. In addition, the company highlighted that it delivered operating profitability, with an EBITDA margin of 12.6%, just a year and a half from its inception.

CCC's business line sales remained flat in this third quarter at 1.1 billion Polish Zloty (235.0 million euros), but its online sales grew by 61%, as compared to the same quarter of 2021, accounting for 19.5% of the business line's total sales. The Modivo Group recorded nearly 1.0 billion Polish Zloty (213.7 million euros) in revenue, reflecting a growth of about 23%, as compared to the same period of the prior year. eobuwie.pl's sales grew by about 11% year-on-year, reaching 779 million Polish Zloty (166.5 million euros) in the third quarter of 2022.

"2022 has been an extremely challenging year for all retailers. The outbreak of the war in Ukraine and its macroeconomic impacts have changed the rules of the game. Customers' incomes remain under the pressure of rising inflation and high-interest rates, leading to heightened consumer price sensitivity. At the CCC Group, we have proactively responded to these developments. We have added several new budget brands to the CCC portfolio, significantly expanding their share in our total mix. We are actively managing prices, making sure they remain attractive to all customer categories. This brings us closer to consumers, enabling us to better respond to their needs and expand our market share despite the challenging business environment", commented Marcin Czyczerski, President of the Management Board of the CCC Group.


Image Credits: zurnal24.si

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