LACROIX announces a strong start to the year, with a 12.5% increase in revenue driven by a favourable base effect and an incr...
May 10 2021 - 11:45AM
LACROIX announces a strong start to the year, with a 12.5% increase
in revenue driven by a favourable base effect and an increasingly
strong upturn.
10/05/2021
LACROIX announces a strong start to the
year,with a 12.5% increase in
revenuedriven by a favourable
base effectand an increasingly strong
upturn
Solid growth over the
first quarter
The gradual improvement to activity since
May 2020 has carried through to the first quarter of the new
fiscal year. In comparison to the same period last year,
January-March 2020, which already suffered the impact of the
health crisis, first-quarter results for 2021 reached
€127.6 million, up 12.5% (or 11.7% at constant
scope).
Beyond the favourable base effect, LACROIX
recorded a solid growth momentum over this period which is
particularly noticeable against the January-March 2019
pre-crisis baseline. On this basis, this first quarter represents
an increase of 4.1% – a sign of a gradual return to normative
business activity.
Revenue in millions of euros |
Q1 2021 |
Jan - Mar 2020 |
Change |
Electronics |
86.6 |
75.9 |
+14.1% |
City |
23.8 |
21.8 |
+9.3% |
Environment |
17.2 |
15.7 |
+9.7% |
Total LACROIX |
127.6 |
113.4 |
+12.5% |
Note: Due to a change in closing date, the
period corresponding to January-March 2020 is the second
quarter of the 2019/2020 fiscal year.
Over the period, growth is driven by all Group
activities.
Linked to the initial impacts of the crisis,
Electronics benefitted from a larger base effect, with a 14.1%
increase in revenue (or 12.9% at constant scope), representing
€86.6 million. This increase also marked a return to 2019
trading activity (down only 0.7% compared to
January-March 2019). While Electronics has managed to
compensate for the impact of the health crisis on revenue, this
performance has arisen in the midst of the current context of a
still-heavily affected aeronautics sector, and high demand in the
automotive industry hindered by the current shortage in electronic
components.
Similar dynamics are also at play within City
and Environment.
City recorded a €23.8 million revenue for
the first quarter, up 9.3% as compared with the same period
for 2019/2020. This level of activity represents a
5.7 % increase with regard to the same period in 2019 and
is driven by the public lighting and V2X segments. Performance of
Environment, which had resisted more strongly at the beginning of
the crisis, still recorded a 9.7% increase driven by
outstanding performance in the Water and Smart Grid segments,
reaching €17.2 million revenue, up from €15.7 million
between January and March the previous year.
Update on tensions in
supply of electronic components
The effects of the significant shortages in electronic
components on an international scale mainly took the form of
extended delays in the supply chain, extra costs related to
materials (generally passed on to customers) and subsequently
higher logistic costs. As such, the current situation is a limiting
factor for the growth potential of LACROIX, impacting operational
effectiveness and inventory levels. With support from its clients,
LACROIX is keeping up efforts to curb negative consequences and
stands ready to face any developments regarding the situation.
Outlook: confirmation of annual
objectives
“The resilience we demonstrated in 2020 has
allowed us to catch up and exceed pre-crisis activity levels – a
strong sign that our offer is adequately aligned with the needs of
the markets we address. Although we will continue to exercise
caution with regard to the current pressures on supply, especially
electronic components, we are quite satisfied with this first
quarter, which is perfectly in line with the objectives set out in
our strategic Leadership 2025 plan,” explained
Vincent Bedouin, LACROIX President & Chief Executive
Officer.
Drawing on a solid first quarter and a strong
growth in all activities, LACROIX remains confident it will meet
its goals for 2021, namely to reach revenue of
€500 million and an EBITDA margin above 6.5%.
Upcoming datesRevenue for the
1st half of 2021: 26 August 2021 after trading
Consult our financial data in our
Investors'
Zonehttps://www.lacroix-group.com/investors/
About LACROIX
Convinced that technology should contribute to
making our living environments simple, more sustainable and safer,
LACROIX supports its customers in the construction and management
of intelligent living ecosystems, thanks to connected equipment and
technologies.
As a publicly-listed family-owned SME, LACROIX
combines the essential agility required to innovate in an
ever-changing technological sector with the ability to
industrialise robust and secure equipment, cutting-edge know-how in
industrial IoT solutions and electronic equipment for critical
applications and the long-term vision to invest and build for the
future.
LACROIX Group designs and manufactures its
customers’ electronic equipment, in particular in the automotive,
home automation, aeronautical, industrial and health sectorś.
LACROIX 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.
Contacts LACROIX
COO & Executive Vice-President FinanceNicolas
Bedouin info@lacroix-group.com Tel.: +33 (0) 2 40 92 58
56 |
ACTIFINPress
relationsJennifer Julliajjullia@actifin.fr Tel.:
+33 (0)1 56 88 11 19 |
ACTIFINFinancial
CommunicationSimon Derbannesderbanne@actifin.fr
Tel.: +33 (0) 1 56 88 11 14 |
- LACROIX_CP_CA Q1_20210510_EN_vdef
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