Magasin Général: 2024 Financial Results and Future Outlook
The Board of Directors of Magasin Général has approved the individual and consolidated financial statements for the 2024 fiscal year. The revenue reached 1,041,473 million MTnd, up 5.8% from 984,555 million MTnd the previous year. The net result showed a deficit of 3,742 million MTnd, a significant improvement compared to 2023, which recorded a loss of 34,009 million MTnd.
Regarding the group, the revenue stood at 1,109,685 million MTnd, a 3.7% increase, with a group result of -10,067 MTnd.
The activity is once again approaching equilibrium. Although we do not have the accounts, the operating result would be positive. The problem remains the high level of financial charges borne by the distribution brand. With the intention of issuing a bond, this expense item may still rise. Reaching sustainable profitability inevitably requires a plan to aggressively reduce operational costs and maximize margins. Given the economic climate, this is a challenging mission that will take several years to accomplish.
The Board of Directors has decided to convene the next Ordinary General Meeting on June 11, 2025. Needless to say, there will be no dividend distribution. Those who wish to hold Magasin Général shares must think long-term. In the meantime, the market will focus on the sales growth strategy and the pace of operational performance improvement. Therefore, the stock may continue its upward trajectory, making it possible to realize capital gains.
