SMCP (SMCP) AGM 2025 summary

Opening remarks and agenda

• Quorum established and bureau constituted to commence the meeting.

• Agenda included review of 2024 achievements, RSE progress, financial results, governance, auditor reports, Q&A, and voting on resolutions.

Financial performance review

• 2024 marked as a transition year with resilient sales and improved operational margin in H2.

• Revenue reached €1,212M, with 1,662 points of sale and a gross margin of 74.4%.

• EBIT at €51M, free cash flow at €49M, and net debt reduced to €237M.

• Regional sales: France +1.1%, EMEA +3.1%, America +5.7%, Asia -17.7%.

• Q1 2025 sales at €297M, up 2.6% organically, with a maintained full-price strategy.

Board and executive committee updates

• Board has 67% independence and 56% women, with an average age of 58 and four nationalities.

• Board met six times with 95% attendance; committees (Audit, Nominations, RSE) met 2-3 times each.

• Renewal of mandates proposed for key executives, covering a broad range of expertise.