LACROIX Group announces return to growth in the fourth quarter.
LACROIX Group announces return to growth in the
fourth quarter
LACROIX Group (LACR - FR0000066607),
international technological equipment manufacturer, announces its
revenue for the fourth quarter of its 2019-2020 financial year
(from 1 July to 30 September 2020). By way of reminder, following
the change of closure date, the current financial year will have an
exceptional duration of 15 months, from 1 October 2019 to 31
December 2020, and will therefore include a fifth quarter.
Return to growth in the fourth
quarter
In the fourth quarter alone, LACROIX Group
experienced growth of 1.8% compared to the fourth quarter of
2018/2019 (+1.0% at constant scope) with turnover of €119.4m.
Revenue in million euros |
2019/2020 |
2018/2019 |
Change |
Cumulative total2019/2020 |
Cumulative total2018/2019 |
Change |
1st quarter |
125.4 |
116.5 |
+7.6% |
125.4 |
116.5 |
+7.6% |
2nd quarter |
113.4 |
122.6 |
-7.5% |
238.8 |
239.0 |
-0.1% |
3rd quarter |
80.1 |
125.4 |
-36.1% |
318.9 |
364.4 |
-12.5% |
4th quarter |
119.4 |
117.3 |
+1.8% |
438.3 |
481.7 |
-9.0% |
Total LACROIX Group |
438.3 |
481.7 |
-9.0% |
438.3 |
481.7 |
-9.0% |
On a cumulative basis since the start of the
financial year (from 1 October 2019 to 30 September 2020), Group’s
revenue thus comes to €438.3m, compared to €481.7m on 30 September
2019, representing a decrease of 9.0% (-10.7% at constant
scope).
“LACROIX Group’s performance in the fourth
quarter is very satisfactory, and confirms our good strategic
orientations. Despite an unprecedented health crisis, we have
demonstrated our capacity to quickly return to growth, thanks to
our unique global positioning in key technological equipment,
serving societal needs, more essential today than ever. The
recent degradation of the health situation naturally requires us to
exercise caution for the coming months. We remain nonetheless fully
confident in our ability to turn this new corner and regain a
long-term performance trajectory, once the situation has normalised
again,” notes Vincent Bedouin, CEO of LACROIX Group.
An increase in all activities compared
to the previous quarter
Over this period, amid the gradual lifting of
the health restrictions which took place during the summer, all of
the Group’s activities show a marked recovery compared to the
preceding quarters, confirming the gradual improvement observed
since May.
Revenue in million euros |
Q4 2019/2020 |
Q4 2018/2019 |
Change |
Cumulative total12
months2019/2020 |
Cumulative total12
months2018/2019 |
Change |
LACROIX
Electronics |
75.1 |
75.7 |
-0.8% |
276.0 |
317.7 |
-13.1% |
LACROIX City |
26.7 |
26.6 |
+0.4% |
96.1 |
104.6 |
-8.1% |
LACROIX Environment |
17.6 |
15.0 |
+17.4% |
66.1 |
59.2 |
+11.6% |
Total LACROIX Group |
119.4 |
117.3 |
+ 1.8% |
438.3 |
481.7 |
-9.0% |
In the fourth quarter, LACROIX Electronics, the
Group’s primary business, thus recorded a revenue of €75.1m,
slipping slightly by 0.8%, or -2.1% at constant scope. This
development represents an excellent performance compared to the
third quarter, down by 43%, at the height of the health crisis.
While business among aeronautics clients remains soft, the fourth
quarter benefitted from a strong upturn in the Automotive and Home
& Building sectors. LACROIX Electronics also benefited, on the
one hand, from a favourable base effect related to the fire on the
Tunisian site which impacted the fourth quarter of 2018/2019
(-€1.3m in Q4 2019) and, on the other, from the integration of the
Group’s latest acquisition, the innovative start-up eSoftThings,
specialising in industrial IoT and artificial intelligence,
consolidated since July and contributing €1.0m to turnover for the
quarter. On a cumulative basis for the last 12 months, this
activity recorded revenue of €276.0m, down 13.1% (-13.4% at
constant scope).
LACROIX City also returned to a level of
activity comparable to the fourth quarter of 2018/2019, with a
revenue of €26.7m, slightly up 0.4% on a reported or constant scope
basis, compared to the 26.6% decline recorded in the third quarter.
This encouraging recovery is supported in particular by the Street
Lighting and Traffic Management markets. Since the beginning of the
financial year, LACROIX City has recorded a decline of 8.1% to
€96.1m (-8.8% at constant scope).
LACROIX Environment, for its part, confirms its
role as an accelerator of growth within the Group, with a 17.4%
growth over the period in the absence of impact from scope,
accounting for €17.6m, as opposed to €15.0m for the same period in
the previous financial year. Business is supported by a catching-up
effect in the Water segment and by the excellent commercial
momentum of SAE IT Systems, a German company acquired in January
2019 in the Smart Grids field. The latter thus recorded a growth of
9.5% for the period and confirms the relevance of the Group’s
strengthened position in this buoyant market with the expansion of
its “smart environment” offer. On a cumulative basis, LACROIX
Environment recorded revenue of €66.1m, representing a growth of
11.6% (+0.9% at constant scope).
Outlook: renewed confidence despite
continuing uncertainties concerning the development of the health
situation
Despite the major impact of the health crisis,
the decline in cumulative revenue remains limited thanks in
particular to the very good resilience of LACROIX Environment, the
momentum maintained in “smart” projects, and the significant
contributions of companies integrated in 2019 and 2020. Viewed over
the last 12 months (October 2019 to September 2020), this decline
is also less than the decrease initially expected for the period
(-10%).
In terms of results, the objective of a
recurring operating margin of over 2% set for the period will be
met.
Due to the continuing uncertainties related to
recent developments in the health situation and the latest
government announcements, the Group is approaching the coming
months with caution, without however envisaging an impact as strong
as that seen during the months of March and April.
Beyond the next few months, LACROIX Group still
retains an ideal positioning to profit from opportunities in its
structurally growing markets. Its three activities, at the heart of
new technological needs in the electronics industry and “smart”
infrastructure projects in roads, energy and the environment, as
well as orders recently taken, will be powerful supports for
recovery.
In this context, the Group remains fully
focussed on its ambition to become the global leader in industrial
IT and electronic equipment for critical applications, and
confirms, in this regard, that it will unveil its 2021-2025
strategic plan in April next year.
Upcoming dates
Full-year revenue 2019/2020 (15 months): 11 February 2021 after
close
ABOUT LACROIX Group
LACROIX Group is an international technological
equipment manufacturer, aiming to serve a connected and responsible
world with its technical and industrial excellence.
As a listed family-run SME, LACROIX Group
combines the essential agility required to innovate in an
ever-changing technological sector with the industrial capacity to
produce robust, secure equipment and the long-term vision to invest
and build for the future. LACROIX Group designs and produces its
customers’ electronic equipment, in particular in the automotive,
home automation, aeronautical, industrial and health sectors.
LACROIX Group also provides safe, connected equipment for the
management of critical infrastructures such as smart roads (street
lighting, traffic signs, traffic management, V2X) and the
management and operation of water and energy systems.
Drawing on its extensive experience and
expertise, the Group works with its customers and partners to build
the connection between the world of today and the world of
tomorrow. It helps them to build the industry of the future and to
make the most of the opportunities for innovation that surround
them, supplying them with the equipment for a smarter world.
Contacts
LACROIX GroupCOO & Executive Vice-President
Finance Nicolas Bedouininfo@lacroix-group.comTel.:
+33 (0)2 40 92 58 56 |
ACTIFINPress relationsJennifer
Jullia
jjullia@actifin.frTel.: +33 1 56 88 11 19 |
ACTIFINFinancial communicationSimon
Derbannesderbanne@actifin.frTel.: 01 56 88 11 14 |
- LXGroup_Communiqué_Presse_12112020_CA_T4-EN_vdef
Grafico Azioni Lacroix (EU:LACR)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Lacroix (EU:LACR)
Storico
Da Apr 2023 a Apr 2024