LARGO Achieved Half-yearly Sales of €6.2 Million, an Increase of 63% Compared to the First Half of 2020
21 Luglio 2021 - 5:45PM
Business Wire
- Confirmation of medium-term financial objectives: positive
EBITDA in 2022, 2025 revenues above €70 million and EBITDA 2025 at
7%
Regulatory News:
LARGO (FR0013308582 - ALLGO), an eco-responsible
French player in the refurbishment of mobile devices, today
announced its revenues for the first half of 2021.
H1 2021 revenues of €6.2 million
In thousands of euros
June, 30 2021
June, 30 2020
Change
Consolidated revenues
6,217
3,813
+ 63%
Revenues for the first half of 2021 amounted to €6.2 million, an
increase of +63% compared to June 30, 2020. The activity of the
second quarter confirms the good start recorded during the first
quarter of 2021 with the continued commercial dynamics. As in the
previous quarter, the growth in revenues is mainly due to the good
performance of Retail, Telecom Operators and B2B sales, which
account for 76% of half-year revenues.
Christophe Brunot and Frédéric Gandon, Co-founders of Largo
comment: « We are delighted to maintain the good commercial
momentum observed at the beginning of the year with strong growth
in half-year revenues, in line with our objectives. The activity
recorded during the first half of the year illustrates the good
performance of sales through our distribution channels, with an
acceleration in retail sales and, in particular, the renewed
confidence of our existing customers, as well as the good start of
activities with operators and B2B players. Overall, this first
half-year confirms the positive trends in the refurbishing market
and the relevance of Largo's positioning, anchored at the heart of
the circular economy and 100% Made in France. We are confident in
our ability to continue strengthening our positions with
distributors in the second half of the year and to deploy growth
levers that will enable Largo to establish itself as a key French
player with telecom operators ».
Highlights of the first half of 2021
- Partial exercise of the over-allotment
option, in the context of the IPO on the regulated market of
Euronext Growth; - Initiation of the coverage of Largo by
Portzamparc with a Buy rating; - Signing of a contract with
Digicel, one of the main telecom leaders in the Caribbean, for the
marketing of Largo's refurbished smartphones; - Signing of the
first international partnership contract with the Portuguese
smartphone wholesaler Bluetooth.
Financial calendar:
- Half-year results and Q3 2021
revenues, October 20, 2021, after market close.
About Largo
Created in 2016, Largo is a group fundamentally involved in the
circular economy. With close to 50 staff based in Nantes, Western
France, Largo refurbishes Smartphones, tablets and laptops.
Positioned along the entire value chain, from sourcing to
refurbishment and distribution, Largo wants to become a benchmark
player in the field of responsible refurbishment. A pioneer in
terms of transparency, in 2018 Largo invested in a sophisticated
production tool enabling it to optimise its processes and the
quality of its products.
Entirely internalised in France, the refurbishment site offers
full control of each key stage: reception, testing, reparation,
quality control and after-sales service. Since the Company’s
creation, Largo has already refurbished more than 140,000
Smartphones, and generated revenue of almost €10.3 million in
2020.
For further information, please go to www.largo-france.fr
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version on businesswire.com: https://www.businesswire.com/news/home/20210721005585/en/
Largo Finance finances@largo-france.fr
NewCap Investor Relations Thomas Grojean/Quentin Massé
largo@newcap.eu +33 (0)1 44 71 94 94
NewCap Media Relations Nicolas Merigeau largo@newcap.eu
+33 (0)1 44 71 94 98
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