B&M European Value Retail S.A. Trading Update (0977R)
March 04 2021 - 01:00AM
UK Regulatory
TIDMBME
RNS Number : 0977R
B&M European Value Retail S.A.
04 March 2021
4 March 2021
B&M European Value Retail S.A.
Q4 FY21 Trading Update
B&M European Value Retail S.A. ("the Group"), the UK's
leading variety goods value retailer, today provides a trading
update relating to its Fourth Quarter ("Q4") performance to date
for the financial year ending 27 March 2021 ("FY21").
On 7 January 2021, the Group announced strong revenue growth in
its Third Quarter. It also noted the uncertainties relating to
lockdown restrictions in the UK.
Notwithstanding this backdrop, revenues and margins have
remained strong over Q4 to date, particularly in the Group's
B&M fascia business in the UK. Accordingly, the Group now
expects adjusted EBITDA(1) (on a pre-IFRS 16 basis) for FY21 to be
in the range of GBP 590 m to GBP 620 m, stated after the voluntary
payment of business rates amounting to approximately GBP80m. This
compares to the previous range announced on 7 January 2021 of
GBP540m to GBP570m.
Group sales will shortly annualise against the elevated sales,
driven initially by consumer stockpiling in mid-March 2020, and
which continued throughout FY21 due to the ongoing impacts of
Covid-19. This, together with the unknown impact of changes to
restrictions in 2021, creates significant forecasting challenges
which will persist well into the new financial year.
The safety of the Group's colleagues and customers remains the
key priority, whilst working hard to continue to meet customers'
needs. B&M also re-introduced the colleague discount for all
NHS workers throughout January 2021.
This announcement contains inside information which is disclosed
in accordance with the Market Abuse Regulation.
1. The Directors consider adjusted EBITDA figures to be more
reflective of the underlying business performance of the Group and
believe that this measure provides additional useful information
for investors on the Group's performance. Adjusting items are the
effects of derivatives, one off refinancing fees, foreign exchange
on the translation of intercompany balances and the effects of
revaluing or unwinding balances related to the acquisition of
subsidiaries.
B&M European Value Retail S.A.
For further information please contact +44 (0) 151 728 5400 ext
5763
Simon Arora, Chief Executive
Alex Russo, Chief Financial Officer
Jonny Armstrong, Head of Investor Relations
Investor.relations@bandmretail.com
Media
For media please contact +44 (0) 207 379 5151
Sam Cartwright, Maitland
bmstores-maitland@maitland.co.uk
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