Lacroix Group : A successful start to the year. Q1 2019/2020 revenue +7.6%. Annual targets confirmed.
February 13 2020 - 12:20PM
Lacroix Group : A successful start to the year. Q1 2019/2020
revenue +7.6%. Annual targets confirmed.
A successful start to the year
Q1 2019/2020 revenue +7.6%
Annual targets confirmed
In € million |
Fiscal Year2019/2020 |
Fiscal Year2018/2019 |
Change |
LACROIX Electronics |
79.9 |
75.5 |
+5.8% |
LACROIX Environment |
18.3 |
13.3 |
+37.6% |
LACROIX City |
27.2 |
27.6 |
-1.5% |
Total LACROIX Group |
125.4 |
116.5 |
+7.6% |
LACROIX Group (LACR
- FR0000066607), an international technology equipment
supplier, recorded revenue of €125.4m for the first quarter of
fiscal 2019-2020 (running from 1 October to 31 December, 2019), an
increase of 7.6% relative to the year-earlier period. On a
like-for-like basis, organic growth came to 3.3%.
LACROIX Electronics gets back on the
growth path
The LACROIX Electronics business chalked up 5.8%
growth in revenue to €79.9m, compared with a 5% decline over the
same period of fiscal 2018-2019. This return to growth was driven
by the improvement seen in Poland, with the rally in demand for
onboard electronics in the auto industry. Business activity also
gained from the return to normal operating conditions at the
Tunisian plant, after the fire that hindered production in
2019.
LACROIX City: stable revenue again
underpinned by Public Lighting
LACROIX City recorded revenue of €27.2m,
compared to €27.6m in Q1 2018-2019, after a slight dip of 1.5%. As
in previous months, business activity was again underpinned
primarily by Public Lighting control and management equipment
(+9.7% at €4.8m). Meanwhile, sales of Road Signalling systems were
on the rise, with revenue up 1.1% at €16.9m.
LACROIX Equipment: solid momentum
becoming firm trend
LACROIX Equipment generated solid growth in
revenue of 37.6% (+2.1% on like-for-like) to €18.3m. This is a
highly satisfactory performance given the extremely demanding
comparison with the first quarter of fiscal 2018-2019 (+19%).
Excluding the positive contribution from SAE-IT
Systems, which was acquired in February 2019, revenue was fuelled
by healthy momentum in the water market, with LACROIX consolidating
its positions in France (organic growth of 2.5%) despite the tough
comparison base in Q1 2018-2019 (+29%), and confirming the
sustained rate of growth generated abroad (+7.8%).
Project Symbiose: financial partnership
with Bpifrance
In addition to these favourable trends in
business activity, the start of the year saw a major step forward
with the Symbiose project, the aim of which being to launch a
smart, digital, automated and environmentally-friendly factory by
end 2021.
To that end, LACROIX Group announced in early
February that it was forming a partnership with SPI (Sociétés de
Projets Industriels), a fund investing in industrial projects
managed by Bpifrance. The aim is to create a joint industrial
company that will invest €25m in this new Industry 4.0 production
plant based in Beaupréau-en-Mauges (in the North West of
France).
Annual targets confirmed
Spurred by this fine start to the year, LACROIX
Group is confirming its targets for the full fiscal year, i.e.
growth of nearly 7%, compared to 2.8% in 2018-2019. This will put
it on track to generate revenue of around €515m in line with the
target initially set in its strategic plan.
Surpassing this historic milestone of €500m is
expected to come in step with additional earnings growth. The Group
has already set a current operating income target of more than
€21m, which is perfectly in line with its ambitions. Achieving that
goal would mean more than doubling current operating income in four
years (2.5x in fact), consistent with the performance objective in
which the Group is fully invested.
Upcoming events
Annual General Meeting: 13 March 20201
First-half revenue: 14 May 2020
About LACROIX Group
LACROIX Group is an international technological
equipment manufacturer determined to put its technical and
industrial expertise to work building a connected, responsible
world.
A 30% listed, 70% family-owned ISE, LACROIX
Group combines the agility that is crucial for innovating in a
constantly changing technological world with the capacity to
industrialise robust, secure equipment and the long-term vision to
invest and build the future.
LACROIX Group supplies secure, connected
equipment used to manage Smart City infrastructures (public
lighting, signage, traffic management, V2X) as well as water and
energy infrastructures.
LACROIX Group also designs and manufactures
electronics for its clients, particularly in the automotive,
automation, aerospace, industry and healthcare sectors.
Drawing on its extensive experience and
expertise, the Group is working with its clients and partners to
forge a bridge between the world of today and the world of
tomorrow. It is helping them build the industry of the future and
seize the opportunities for innovation all around them, and
providing them with the equipment for a smarter world.
Contacts
LACROIX GroupDeputy CEO & Executive VP -
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 CommunicationJulien
Mouretjmouret@actifin.frTel: +33 (0)1 56 88 11 14 |
1 And not 17 February 2020 as initially scheduled
- Lacroix-Group-CPCAT12019-2020UK
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