CLASQUIN: Q1 2023
03 Mai 2023 - 5:45PM
Business Wire
STRONG BUSINESS RESILIENCE RETURN TO NORMATIVE
MARGINS
Regulatory News:
CLASQUIN (Paris:ALCLA):
Q1 2023
Q1 2022
Change at current
scope
Like for like**
Change v Q1 2019
(pre-COVID)
CONSOLIDATED (unaudited)
Number of shipments
77,770
74,374
+4.6%
+1.5%
+21.3%
Sales (€m)*
139.2
233.9
-40.5%
-42.8%
+80.8%
Gross profit (€m)
30.1
35.0
-14.1%
-16.6%
+74.4%
* Sales is not a relevant indicator of business in our sector,
as it is greatly impacted by changing air and sea freight rates,
fuel surcharges, exchange rates (particularly versus USD), etc.
Changes in the number of shipments, volumes shipped and, in
financial terms, gross profit are relevant indicators. ** Like for
like: constant exchange rate & excluding Exaciel and CVL
acquisitions and LOG System disposal
MARKET AND BUSINESS REVIEW
The market continued the downward trend observed in
Q4:
- Decline in air freight (down 11% versus Q1 2022) and sea
freight volumes;
- Reduction in air and sea freight rates (down 80% versus Q1 2022
on maritime trade between Asia and Europe).
Against this backdrop, the Group posted a 4.6% increase in
the number of shipments, driven by:
- the consolidation of Exaciel (Paris) and CVL (Dakar) in July
2022;
- the acquisition of new clients;
- the development of the Road Brokerage business;
- growth in the Fairs & Events business.
Moreover, in line with market trends, we observe a decrease in
volume shipped, though less pronounced than the decline observed in
Q4 2022 (Number of containers down 6.8% versus a 11.4% decline in
Q4 2022 - Tonnage down 13.2% versus a 19.1% decline Q4 2022).
Gross profit was down 14.1% in Q1 2023 due to a return to
pre-COVID market conditions. Growth versus Q1 2019
(pre-COVID) was 74.4% (CAGR 14.9%).
BREAKDOWN BY BUSINESS LINE
NUMBER OF SHIPMENTS
GROSS PROFIT (€m)
At current scope
and exchange rates
Q1 2023
Q1 2022
Change Q1 2023/
Q1 2022
Q1 2023
Q1 2022
Change Q1 2023/
Q1 2022
Sea freight
31,125
33,255
-6.4%
16.6
18.9
-12.6%
Air freight
19,932
17,233
+15.7%
8.6
10.7
-20.2%
Road Brokerage*
18,416
17,376
+6.0%
3.9
3.4
+14.7%
Other**
8,297
6,510
+27.5%
1.0
1.5
-33.4%
TOTAL OVERSEAS BUSINESS
77,770
74,374
+4.6%
30.1
34.6
-13.2%
LOG System***
0.0
0.4
N/A
Consolidation entries
0.0
-0.1
N/A
TOTAL CONSOLIDATED
30.1
35.0
-14.1%
* Road brokerage includes the road haulage business previously
included in “Other businesses” and the RORO business (roll on/roll
off: combined road + sea transport (trailers or trucks on ships)).
** Other businesses: rail/customs/logistics *** Disposal of LOG
System on 01/03/2022
VOLUMES
At current scope and exchange
rates
Q1 2023
Q1 2022
Change
Q1 2023/
Q1 2022
Sea freight
58,925 TEUs*
63,255 TEUs*
-6.8%
Air freight
15,986T**
18,409T**
-13.2%
* Twenty-foot equivalent units ** Tons
Q1 2023 HIGHLIGHTS
- Acquisition of a controlling interest (63.52%) in the Timar
Group on 28 March 2023
- Timar is a Moroccan group specialising in the design of
innovative solutions in the fields of international transport,
logistics and goods transit. The group is listed on the Casablanca
Stock Exchange.
- A mandatory takeover bid on the remaining portion of Timar SA’s
share capital was filed with the Moroccan Capital Market Authority
(AMMC). The purchase price will be determined at a later date.
- Timar Group key facts:
- 14 companies, 18 offices in 9 countries in North Africa
(Morocco, Tunisia, Mauritania), West Africa (Senegal, Mali, Ivory
Coast) and Europe (France, Spain, Portugal);
- 2022 consolidated gross profit: MAD 242m (c. €22.0m);
- 2022 consolidated EBITDA: MAD 71.9m (c. €6.5m);
- 2022 consolidated current operating income: MAD 30.1m (c.
€2.7m);
- Headcount: 430 employees.
- CLASQUIN Group in 2023 following Timar acquisition (pro forma
12 months):
- 85 offices, including 19 in Africa;
- Estimated Europe/Africa trade (gross profit): 23% of Group
flows; 2nd Group trade;
- Morocco: no. 3 Group country in terms of gross profit after
France and Greater China;
- Headcount: 1,600 employees, including 27.5% in Africa and 19.2%
in Morocco (no. 2 Group country after France).
- Opening of a 3rd office in Germany, located in Hanover
(4 people), specialising in air freight.
2023 OUTLOOK
2023 MARKET
- International trade by volume: up 1.7% (source: WTO - 5 April
2023)
- Air freight by volume: down 4.3% (source: IATA)
- Sea freight by volume: down 2.5-5%
CLASQUIN 2023 Business (volumes): outperform market
growth
UPCOMING EVENTS (publication after market closure)
- Tuesday 6 June 2023: Annual General Meeting
- Thursday 27 July 2023: Q2 2023 business report
- Wednesday 13 September 2023: H1 2023 results
- Tuesday 7 November 2023: Q3 2023 business report
CLASQUIN is an air and sea freight forwarding and overseas
logistics specialist. The Group designs and manages the entire
overseas transport and logistics chain, organising and coordinating
the flow of client shipments between France and the rest of the
world and, more specifically, to and from Asia-Pacific, North
America, North Africa and sub-Saharan Africa. Its shares are listed
on EURONEXT GROWTH, ISIN FR0004152882, Reuters ALCLA.PA, Bloomberg
ALCLA FP. Read more at www.clasquin.com. CLASQUIN confirms its
eligibility for the share savings plan for MSCs (medium-sized
companies) in accordance with Article D. 221-113-5 of the French
Monetary and Financial Code established by decree number 2014-283
of 4 March 2014 and with Article L. 221-32-2 of the French Monetary
and Financial Code, which set the conditions for eligibility (less
than 5,000 employees and annual sales of less than €1,500m or
balance sheet total of less than €2,000m). CLASQUIN is listed on
the Enternext© PEA-PME 150 index. LEI: 9695004FF6FA43KC4764
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230503005740/en/
CLASQUIN
Philippe LONS – Deputy Managing Director/Group CFO Domitille
CHATELAIN – Group Head of Communication & Marketing CLASQUIN
Group – 235 cours Lafayette – 69006 Lyon Tel.: +33 (0)4 72 83 17 00
– Fax: +33 (0)4 72 83 17 33
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