Group sales are expected to reach around €7,945 million in 2022, with an estimated decline of -1.2% on a reported basis and -1.9% on a like-for-like basis compared with 2021.

Current operating income is estimated at around €230 million. Operating free cash flow is slightly negative at around -30 million euros.

About one third of the difference with the previous year's free cash flow is due to a decline in EBITDA including non-recurring items, in line with the year's operating income before non-recurring items," says management.

The Group considers it unlikely to achieve its cumulative operating free cash flow target of around €500 million over the period 2021-2023. Consequently, the Group is extending this same target to the 2021-2024 period.

Fnac Darty maintains its ambition to generate free operating cash flow of at least €240 million on an annual basis from 2025 onwards.

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