Third quarter revenue - Activity has been gradually improving since May
August 27 2020 - 11:40AM
Third quarter revenue - Activity has been gradually improving since
May
Third quarter revenue Activity has been gradually
improving since May
LACROIX Group (LACR - FR0000066607), an
international technological equipment manufacturer, reveals its
revenue for the third quarter of the 2019-2020 financial year (from
1 April to 30 June 2020).
Over the period, the Group has seen a
progressive improvement in activity, despite the significant impact
of the health crisis. Although revenue fell by more than 60% in
April, in May it was only 40% down and in June, 10%.
In total, revenue for the third quarter came to
€80.1 million, down 36.1% compared with the same period in
2018-2019. At constant scope, the decline was 36.2%. In total over
the first nine months of the financial year (from 1 October 2019 to
30 June 2020), activity fell by 12.5% to €318.9 million (-14.2% at
constant scope).
Revenue in millions of Euros |
Q3 2019/2020 |
Q3 2018/2019 |
Change |
9 month
total2019/2020 |
9 month total2018/2019 |
Change |
LACROIX
Electronics |
45,120 |
79,278 |
-43.1% |
200,945 |
242,040 |
-17% |
LACROIX City |
20,498 |
27,928 |
-26.6% |
69,433 |
78,009 |
-11% |
LACROIX Environment |
14,526 |
18,105 |
-19.8% |
48,487 |
44,215 |
+9.7% |
Total LACROIX Group |
80,145 |
125,369 |
-36.1% |
318,865 |
364,385 |
-12.5% |
All activities remain impacted by the health
crisis despite the gradual improvement observed from May.
Over the third quarter, LACROIX Electronics
recorded a revenue of €45.1 M, a drop of 43.1%. As expected, this
decline includes the significant drops in volumes ordered, in
particular for the avionics and automotive sectors. Since June, and
despite still limited visibility, a clear recovery has been
observed outside of the avionics sector. The level of recovery will
become clearer over the next few months. Over nine months, the
LACROIX Electronics business fell by 17% to €200.9 M.
At LACROIX City, business held up better with
sales of €20.5 M, down 26.6% (-27.3% at constant scope). After a
sharp slowdown observed during the lockdown, the gradual lifting of
restrictions resulted in a clear recovery in activity from May.
Over the first nine months of the year, the decline in activity was
limited to 11% (-12% at constant scope) at €69.4 M
Lastly, at LACROIX Environment, revenue for the
third quarter was €14.5 M, down 19.8%. Activity remains
supported by the integration of SAE-IT Systems acquired in February
2019, which continued to grow over the period. In total, over the
first nine months of the FY, LACROIX Environment had a revenue of
€48.5 M, up 9.7% (-4.7% at constant scope).
2019-2020 objectives
confirmed
Given the encouraging signs of recovery which
were evident over the first few weeks of July, the Group confirms
all its objectives for the 2019-2020 financial year: a fall of
around 10% in revenue with a trading operating margin of more than
2%. Given the still limited visibility on the evolution of the
health situation, a return to normality is not expected before the
end of 2020.
LACROIX Group thus reaffirms its confidence in
its ability to overcome the crisis and return to the solid growth
and margin appreciation that it demonstrated in the months leading
up to the health crisis.
This confidence was further demonstrated in
early July with the acquisition of eSoftThings (press release of 9
July), an international benchmark in the design and
industrialisation of IoT solutions and in the field of artificial
intelligence (computer vision, classification of objects,
prediction of behaviour). This acquisition is perfectly in line
with the Group's values, which will be at the heart of the new
strategic plan to be presented in 2021.
Lastly, LACROIX Group reiterated its plan to
change the closing date of its financial year from 30 September to
31 December. This project will be submitted for approval to the
Extraordinary General Meeting of 28 August. If this proposal were
approved, the current fiscal year would therefore have an
exceptional duration of 15 months from 1 October 2019 to 31
December 2020.
Upcoming dates
Fourth quarter revenue: 12 November 2020 after the Stock
Exchange
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 communicationStéphane
Ruizsruiz@actifin.frTel.: +33 (0) 1 56 88 11 11 |
- LXGroup_press_release_08272020
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