ECOMIAM: Half-year results 2021/22 – 06/15/2022 at 6:15 pm.

  • Store sales up 22.8%

  • Gross trading margin improved by 3.1 points to 36.4%.

  • Network operating profit, before structural costs, is €0.6 million

  • Operational performance was temporarily affected by the gradual intensification of points of sale in new areas and the deployment of marketing procedures

  • Fixed cash level at €8.7 million

  • The full impact of communication actions expected over the next fiscal year and action plan to return to profitable growth in the path of ambitions for 2025

ecomiam (ISIN code: FR0013534617 – mnemonic: ALECO), French No. 3
Specialized distribution of frozen products

publishes its semi-annual results for the fiscal year 2021/22 (period from 1


October 2021 to March 31, 2022), examined by the Board of Directors at its meeting held on June 13, 2022.

In K€ – French Standards – Unaudited data



business volume

– Including store sales





Gross Trading Margin

(frozen and packed)

% on merchandise sales





gross operating surplus

% of sales




result of exploitation

% of sales







Exceptional result



consolidated net income



Double-digit growth over 1


Half of 2021/202 despite the tense macroeconomic environment

less than 1


half of fiscal year 2021/202,


It generated consolidated sales of €19.5 million, an increase of 15.0% over the same period in the previous financial year. Business develops at the beginning of the year in an inflationary context that limits household consumption and the gradual intensification of outlets in new territories in the process of commercial conquest (as a reminder, in accordance with its commitments,


Opened 29 new points of sale in fiscal year 2020/21, 10 in 1


Semester 2021/22, 82% of which is outside Brittany).

Store rotation


, up 22.8%, benefiting from 10 new job opportunities during the period. On a likewise basis, store sales are down -16.2% YoY with a high base effect for comparison (+48.5% growth in 1


Semester 2020/21) in a context still marked by an epidemic.

On the other hand, compared to 1


Half of 2018/19, pre-health crisis period, store sales of 1


Semester 2021/22 shows an increase of 27.7% based on a comparable store network, confirming a favorable underlying trend.

Gross trading margin of 36.4%, improving by 3.1 points

In the context of increased activity, the total trade margin amounted to 6.8 million euros, an increase of 34.5%, or an average of 36.4%, an improvement of 3.1 points, which confirms the commitment to


Not favoring growth at the expense of margins.

In order to support network deployment dynamics,


It continued to structure its organization in line with its development plan. Thus, staff costs, which increased by 21.6% under control, amounted to €1.2 million compared to €1.0 million in 1


Half of 2020/21, representing 6.3% of revenue (6% over 1


Semester 2020/21). External expenditures increased by 1.6 million euros over one year under the influence of:

  • The increase in commissions paid to affiliates in connection with the expansion of the affiliate network,

  • Amplify customer loyalty and marketing actions in order to enhance the brand’s reputation across the region in accordance with the commitments made during the IPO,

  • The increase in transportation costs in the context of inflationary fuel costs.

Thus, EBITDA was €0.5 million over the half-year period, compared to €0.4 million for the same period in 2020/21.

The operating income of the network, before overheads, was 0.6 million euros for 1


Half 2021/22 compared to 1.1 million euros in the previous year, representing a margin rate of 3.5%, down 3.8 points.

After taking into account head office expenses, operating income was – 0.8 million euros for 1


Semester 2021/22.

Finally, consolidated net income of 1


Half of 2021/22 comes out with – 0.9 million euros.

Available cash 8.7 million euros

In the face of persistent inflationary pressures,


Increase the level of its inventories to 4.4 million euros at the end of March 2022 (3.1 million euros at the end of March 2021).

balance sheet


It remains strong with equity of €11.7 million, available cash of €8.7 million and gross financial debt of €2.8 million as of March 31, 2022. Balance sheet positioning allows


To finance the cash needs related to the development of its network (change in WCR of -0.2 million euros and investments of 0.7 million euros) and to give the company the financial base needed to finance its development plan.

Prospects and developments

In the second half of the year,


It has set itself the following priorities:

  • Continuing to improve operating costs,

  • Continuing to expand targeted customer relations actions while enhancing the brand’s reputation across the country.

The full impact of these actions on operations is expected in the 2022/23 financial year.

Finally having a bunch of unwanted apps to belong to nearly 1,600 files,


Still confident in the spread of its network and its ambitions for 2025 to reach 125 points of sale,

110 million euros in sales and 7 million euros in operating income.

Next contact

  • 3 store rotation

    The tenth

    Quarter 2021/22, July 7, 2022 (after market closes)

Find all information about

About Icomiya

A family business established in 2009,


It is the first ethical and easily accessible network for the distribution of fresh, unprocessed, frozen products of 100% French origin. the network


consisting of 67 points of sale as of May 31, 2022, has a “Click & Collect” offer and an online sales site that provides home delivery within 24/48 hours throughout mainland France.

In 2021,


Combined sales generated 36.2 million euros, an increase of 57.4%.


Investor Relations

News and Communications Finance

strong koren

[email protected]

Such as. 01 53 67 36 77

Relations with the press

News and Communications Finance

Fatou Ken Ndiaye

[email protected]

Such as. 01 53 67 36 34


Sources: Xerfi Study – March 2021 in the number of stores


EBITDA: Operating Income + Depreciation and Provisions


Store cash outflows, accounting for more than 95% of consolidated sales

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