24% increase in profits in 2021

“For the first time in the history of the group, the gross surplus exceeds the billion mark”, welcomes Amine Bennis, CFO of the group. Ph.Seddik

All the lights are green for Label Vie in 2021. The group achieved a turnover increase of 7%. The net result, meanwhile, shows a clear increase of 24%. The gross operating surplus sets a new record exceeding for the first time the bar of one billion DH. For this year, the retail specialist intends to continue its development program by 2024.

“2021, a year of all records”. This was declared by the administrative and financial director of Label Vie, Amine Bennis, during the presentation of the group’s annual results on Monday in Casablanca. Indeed, all the lights were in the green. Consolidated turnover thus gained 7%, rising from 11,012 billion dirhams to 11,758 billion. The net result signs, meanwhile, a two-digit link, increasing by 24% to 417 million DH. “For the first time in the group’s history, the gross surplus exceeds the billion mark,” welcomes the DAF. Indeed, with a gain of 14%, it stands at 1.037 billion DH. New record also for the financial result which ends 2021 on a positive note. It thus went from -16.4 million DH to 12.8 million, an improvement of 29 million DH. This good performance is attributed to the marked improvement in financing costs and the increase in investment income. In addition, Label Vie recorded an increase in sales on a like-for-like basis of MAD 47 million, “a sign of the resilience of our model”, notes the company, despite the exceptional sales made during the first half of 2020. The only stores opened between 2020 and 2021 achieved an additional sales volume of 573 million dirhams. As a reminder, during the previous year, the retail specialist had 27 new points of sale covering 9 cities in the Kingdom, including two new locations in Azrou and Sidi Kacem.

“As of December 31, 2021, our network of points of sale reached 136 stores”, specified, for his part, the chairman of the group’s board of directors, Zouhair Bennani. Last year, the group made 1.432 billion dirhams of investment, of which 350 million related to the digital transformation program which extends until 2024. This plan is based on 5 pillars: omnichannel, commercial, operations, functions support and technical base. “Ultimately, e-commerce will represent 4 to 5% of the group’s overall turnover,” the company indicates. To do this, Label Vie intends to improve the customer experience with the promise of delivery in 45 minutes thanks to express e-commerce. Users can also plan their shopping (in the morning for the evening or in the evening for the next day) and can also benefit from the help of a personal shopper to make their purchases. For this year, the group intends to strengthen its positioning as a multi-format player, by continuing its development and openings program which should cover all of its business segments. In January 2022, two new points of sale were opened. In addition, the Board of Directors proposes to the General Assembly the distribution of a dividend of 200 million DH for the financial year 2021, i.e. 70.4 DH per share.




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