Message from the CFO

Kévin Aubert

Group CFO

“The Group’s Finance Department provides essential support to our country operations while maintaining strong relationships with shareholders and investors.”

How are you approaching this new phase of your career within the Group?

I am delighted at my appointment as Group CFO and at the opportunity to lead our talented finance team towards new horizons while drawing on our collective expertise. I joined the Group in 2017 as the Group’s Head of Financial Control and was then appointed CFO for France and Benelux – our company’s largest division. This experience gave me in-depth knowledge of the operational and strategic dynamics that make THOM so successful. My transition to Group CFO was carefully planned to ensure continuity and stability.
Working closely with Cyrille Palitzyne, THOM former CFO, I was able to seamlessly integrate our financial challenges and the very high standards we maintain.
In this new role, my mission will be to ensure that our financial strategies are perfectly aligned with the Group’s global objectives and maintain our department’s hallmark: high standards of financial discipline and strategic forward planning. My approach will focus on collaboration and innovation.

How is the Group’s Finance Department organised?

Our finance department is structured to optimise both global oversight and local decision-making.
At the core of our organisation, we have an experienced team of country CFOs who are dedicated to our strong local brands, working closely with country CEOs and their executive committees. This alignment ensures that financial strategies are directly integrated with local business operations, driving decisions and value creation on the ground.
Additionally, we have robust Group finance functions comprising Treasury, Finance & Investor Relations, FP&A, and Legal. These functions provide essential support to our country operations while maintaining strong relationships with shareholders and investors.
This dual approach allows us to balance local market specificities with overall corporate governance and strategic objectives, ensuring cohesive and effective financial management across all our regions.

How has the transition to IFRS standards changed the organisation of the Group’s Finance?

The transition from French GAAP to IFRS has had a profound impact on our organisation. This shift is not merely a technical accounting change – it represents a significant strategic milestone for our company. It has elevated us to the «big leagues» within the finance sphere, enabling us to align with international financial reporting standards and enhancing our credibility on the global stage.
Internally, this change has been a game-changer. It has changed the way we monitor our business performance and make strategic decisions. The new accounting rules under IFRS have introduced a fresh perspective and a common language for our finance teams
across countries, requiring them to develop new skills and adapt to a different framework. Moreover, the impact extends beyond finance: our operations teams also need to acquire new reflexes and adapt to the new standards, ensuring that every aspect of our business is in harmony with these new reporting requirements.

What were the challenges of FY24 for the Group’s Finance Department?

FY24 has been exceptionally challenging for our finance department with remarkable collective successes. Our finance community within the Group has demonstrated outstanding quality in delivering demanding achievements such as:

The Group high-yield refinancing operation taking place in late February.
The launch of “THOMtogether 3”, our third employee shareholding plan.
Three successful M&A executions: firstly, we took over Albalogic, our point-of-sales software provider. In FY24, we acquired Deloison, a brand specialising in wedding and special-occasions rings. Lastly, we performed the acquisition of 23 complementary points of sale in Italy through an asset deal allowing us to rapidly enhance our regional footprint by gradually converting these locations into Stroili, our leading brand in Italy.
Last but not least, one of the key successes for THOM this year has been the launch of the new affiliation model, which replaced the former franchisee model.

What is your roadmap for 2025?

Our roadmap for FY25 is focused on strengthening the fundamentals of THOM’s business model to effectively navigate challenges such as gold price volatility and inflation, all while maintaining affordability for our customers. Additionally, we aim to stimulate our Like-for-Like growth in mature markets and accelerate the development of AGATHA and our newcomer Deloison. A key success factor of this strategy is our experienced finance team partnering with operations, thereby ensuring
that financial insights are seamlessly integrated into our operations and decisions.