Lacroix Group : LACROIX Group confirms healthy end-of-year
momentum.
LACROIX Group confirms healthy end-of-year
momentum
LACROIX Group (LACR - FR0000066607), an
international technological equipment manufacturer, has announced
its revenue for the fifth quarter of its 2019-2020 financial
year.
As a reminder, following the change in balance
sheet date, the current financial year had an exceptional duration
of 15 months (from 1 October 2019 to
31 December 2020), i.e. five distinct quarters.
Therefore, for the purpose of comparison, the
5th quarter of the 2019-2020 fiscal year should be compared to the
1st quarter of the same fiscal year (October-December 2019). This
press release also includes revenue information compiled on a
12-month pro-forma basis (from 1 January to 31 December) in order
to be consistent with the new fiscal year period.
Healthy momentum which confirms the
turnaround since the 4th quarter
In the 5th quarter (October-December 2020),
LACROIX Group recorded revenue of €128.1m, up 2.2% compared with
the comparable period, i.e. October-December 2019. This performance
confirms the gradual return to growth observed from the previous
quarter onwards (+1.8% compared to July-September 2019), despite a
second national lockdown and strong growth recorded in the
comparable period (+7.6% in the 1st quarter). On a like-for-like
basis, growth in the 5th quarter was 1.6%.
Revenuer in euros millions |
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% |
5th quarter |
128.1 |
|
+2.2% |
566.3 |
|
+17.6% |
Total LACROIX Group |
566.3 |
481.7 |
17.6% |
566.3 |
481.7 |
+17.6% |
For the full financial year (15 months, from 1
October 2019 to 31 December 2020), the Group generated revenue of
€566.3m, up 17.6% on a published data basis. On a pro forma
12-month basis (from January 1 to December 31, 2020), revenue fell
10.1% to €441.0m, down from €490.5m.
A turnaround driven by all the Group's
operations
In the 5th quarter (October-December) alone, the
return to growth observed in the previous quarter was
confirmed.
Revenue in euros millions |
Q5 2019/2020(Oct – Dec 20) |
Q1 2019/2020(Oct – Dec 19) |
Change |
Cumulative total2019/2020(Oct 19
– Dec 20)15 months |
Cumulative total2018/2019(Oct 18
– Sept 19)12 months |
Change |
LACROIX
Electronics |
79.2 |
79.9 |
-0.8% |
355.2 |
317.7 |
+11.8% |
LACROIX City |
29.2 |
27.2 |
+7.3% |
125.3 |
104.6 |
+19.8% |
LACROIX Environment |
19.7 |
18.3 |
+7.6% |
85.8 |
59.2 |
+44.9% |
Total LACROIX Group |
128.1 |
125.4 |
+2.2% |
566.3 |
481.7 |
+17.6% |
Over the period, LACROIX Electronics recorded
relatively stable revenue of €79.2m, compared with €79.9m in the
1st quarter. This stability conceals strong underlying performance,
given on the one hand the difficulties of the aeronautics sector
due to the pandemic, and on the other hand, a strong 1st comparable
quarter (+5.8% over the period for the Electronics business). On a
like-for-like basis, LACROIX Electronics recorded a slight fall of
1.9% over the quarter. On a 12-month pro forma basis, revenue fell
by 14.5%.
While LACROIX City had already recorded a return
to growth in the 4th quarter (+0.4%), the 5th quarter saw a marked
improvement in trading, with revenue of €29.2m, up 7.3% compared
with the 1st quarter, both on published data and like-for-like
basis. Over the period, the renewed growth was mainly driven by a
catch-up effect in the road signs segment and strong growth
in the Traffic Management segment. On a 12-month pro forma basis,
LACROIX City recorded a 5.8% fall in revenue.
After a strong catch-up in the 4th quarter, the
LACROIX Environment business continued its excellent growth in the
5th quarter with 7.6% revenue growth up to €19.7m, compared with
the same period the previous year. Growth was driven in particular
by the Smart Grid segment (26.0% quarterly growth). On a 12-month
pro forma basis, revenue increased by 5.1%.
"After an incomparable financial year in many
ways, whether with regard to the impact of the pandemic or the
change in our fiscal year period, LACROIX Group ended the year on a
very satisfactory note, which is a testament to the strong
resilience of our model. With the prospect of a forthcoming end to
this crisis and despite the caution imposed by this unprecedented
period, we are particularly confident in our ability to quickly
return onto the path to growth and to incorporate this into the
ambitious strategic plan that we will unveil in April.” concluded
Vincent Bedouin, Chairman and CEO of LACROIX Group.
Outlook
The marked recovery in trading in the 4th and
5th quarters will be positively reflected in the results for the
2019-2020 financial year.
2021 will be a pivotal year for the Group, with
the unveiling of the strategic plan that will underpin the Group’s
development for the next five years, the detailed themes of which
will be unveiled on 7 April.
Upcoming dates
2019/2020 annual results (15 months): 25 March 2021
after market 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 mid-cap, 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 create 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.
Find our financial data in our Investor
areahttps://www.lacroix-group.com/investors/
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 (0)1 56 88 11 19 |
ACTIFINFinancial communicationSimon
Derbannesderbanne@actifin.frTel.: +33 (0)1 56 88 11
14 |
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