CCC Group summarizes fourth-quarter results and reports a record annual net profit – over PLN 1 billion
In Q4 2024 (November 2024 – January 2025), the CCC Group achieved a threefold increase in operating profit and nearly doubled its EBITDA result, reaching PLN 448 million. The Group reported revenue growth and a further strengthening of its gross margin. High cost discipline was maintained across all business lines. Efforts to achieve high profitability under the CCC and HalfPrice banners were successfully continued. The Modivo Group recorded a sharp improvement in operating profit and EBITDA, which is primarily the result of a focus on highly profitable sales and significant cost reductions due to ongoing integration with the CCC Group.
The reported results for the fourth quarter differ only slightly from the preliminary figures published earlier. As a result of arrangements with the auditor, the recognition of a wholesale transaction was deferred and, in a conservative approach, will be accounted for in subsequent reporting periods, upon receipt of payment from customers.
Stronger synergy across all Group companies – including the centralization of teams and processes, the maximization of the omnichannel business model, and a greater share of licensed products in the offering – is delivering the expected results in the form of an increasingly profitable business,” - says Dariusz Miłek, President of the Management Board of the CCC Group, and adds: “After elevating the CCC and HalfPrice banners to high levels of profitability, our current efforts are focused on improving the performance of the Modivo Group. The effects of this work are visible in the sharp strengthening of online business profitability over the last two quarters. We will present the full effects of these actions in the upcoming reporting periods.
In Q4 2024, CCC Group’s revenues amounted to PLN 2.7 billion, marking a 6% year-over-year increase. The CCC segment recorded a 6% revenue increase, with only a slight expansion in retail space (1%). Meanwhile, the HalfPrice chain, which launched in two new markets – Spain and Bulgaria – recorded a sales growth rate of 29%. The Modivo Group’s revenue dynamics (-3%, including Modivo 0%, eobuwie -4%) were primarily influenced by strategic decisions to exit less profitable markets.
In the fourth quarter, CCC Group recorded a 3 percentage point year-over-year increase in gross margin. Gross profit on sales rose across all business lines. The gross margin of the Modivo Group strengthened the most – by over 5 percentage points – mainly due to a higher share of the new collection in sales, increased contribution of licensed products, and the delisting of unprofitable brands from the product portfolio. The gross margin of the CCC banner reached 57% (an increase of 1 percentage point). HalfPrice also once again recorded an improvement in margin (+2 percentage points).
As a result of strict cost discipline, the CCC Group’s cost-to-revenue ratio in Q4 2024 decreased by 5 percentage points year-over-year, reaching 38%. This marks the sixth consecutive quarter of consistent improvement in this indicator. The most significant cost reduction was observed in the Modivo Group, where the cost-to-revenue ratio dropped by as much as 12 percentage points year-over-year – which in nominal terms translates to a 29% decrease in costs. This result stems from efforts aimed at rebuilding and strengthening the profitability of the Modivo Group through extensive integration and maximum utilization of synergies within the CCC Group.
In Q4 2024, the CCC Group achieved an operating profit of PLN 295 million, representing a more than threefold year-over-year increase, as well as EBITDA of PLN 448 million (+89% YoY). This result was positively influenced by HalfPrice, whose EBIT profit nearly doubled (+94%), with an EBITDA margin improvement of 3 percentage points, and by the Modivo Group, which generated an operating profit higher by PLN 183 million and EBITDA higher by PLN 180 million – a sharp increase in both EBIT and EBITDA margins by 18 percentage points.
For the entire year 2024, the CCC Group recorded historically high revenues of PLN 10.3 billion (+9%) and a gross margin higher by 4 percentage points year-over-year. This enabled the Group to generate an operating profit of PLN 1.0 billion – an increase of over 460% year-over-year – and EBITDA of PLN 1.6 billion (+110%). The Group also achieved the highest net profit in its history – PLN 1.023 billion, which was nearly PLN 1.1 billion higher than the year before.
“The past year was a time of intense and profound transformation within the Group. On the one hand, we are pleased with the improvement in results, but this is certainly not our final word. In 2025, our aspiration is to reach PLN 12 billion in revenue and an EBITDA margin of 20%,” said Dariusz Miłek, President of the Management Board of the CCC Group.
