HIGHCO : Q1 2016 GROSS MARGIN
26 April 2017 - 5:56PM
Paris, 26 April
2017 (6.00 p.m.)
CONTINUED GROWTH
IN Q1 2017: GROSS PROFIT UP 4.2% LFL
16th consecutive
quarter of business growth
-
Q1 20171 gross profit
of €20.38 M, up 4.5% on a reported basis and 4.2%
LFL2.
-
Strong growth in digital business: Q1 LFL up
10.2%.
-
Strong growth in France: Q1 LFL up 12.4%.
-
Decline in Belgium: Q1 LFL down 12.2%.
2017 guidance
confirmed
| (€ M) |
2017 |
2016 Reported |
2016 LFL2 |
2017/2016
Reported change |
Change
2017/2016 LFL2 |
| Q1 Gross
Profit1 |
20.38 |
19.51 |
19.56 |
+4.5% |
+4.2% |
1 Unaudited
data.
2 Like for
like: Based on a comparable scope (i.e. including CapitalData over
three months in 2016 and 2017) and at constant exchange rates (i.e.
applying the average exchange rate over the period to data from the
compared period).
3 Adjusted
headline profit before interest & tax: recurring operating
income before restructuring costs and excluding the cost of
performance share plans. Adjusted operating margin: Adjusted
headline PBIT/Gross profit.
Didier Chabassieu, Chairman of the
Management Board, stated, "After very strong
growth in 2016, and despite a decline in offline business in
Belgium, the Group continued its organic growth. Thanks to Digital,
HighCo began its fifth consecutive year of business growth. This
performance confirms our strategy of maintaining our investments in
data and mobile, which will be our growth drivers."
GROUP GROWTH
DRIVEN BY DIGITAL BUSINESS
With
like-for-like growth of 10.2% in Q1 2017, Digital business
continues to drive the Group's organic growth. The share of
digital in total Group business increased from 43.1% in
Q1 2016 (excluding the United Kingdom) to 45.8% in
Q1 2017. Offline businesses fell slightly over the quarter
(down 0.4% like for like). Based on this performance,
the Group posted a 16th consecutive quarter of business
growth, with an increase of 4.5% on a reported
basis and 4.2% like for like to €20.38 M in
Q1 2017.
CONTINUED POSITIVE TREND IN
FRANCE BUT DECLINE IN BELGIUM
Up 12.4% like for
like, France turned in a strong performance in Q1 2017 with
gross profit of €14.42 M, representing 70.7% of the
Group's gross profit. The share of digital business came out at
51.2% over the period.
International
gross profit fell 11.4% like for like to €5.96 M in
Q1 2017, i.e. 29.3% of the Group's gross profit, as a
result of the challenges met in Belgium. With gross profit of
€5.64 M, Benelux was down 12.2% like for like over the
quarter. Belgium suffered from the drop in the volume of paper
coupons cleared and the decline in offline in-store media. In
contrast, businesses in Southern Europe (Spain and Italy) continued
on their upward trend, with like-for-like growth of 6.1% in the
first quarter. This region now accounts for 1.6% of the Group's
gross profit.
2017 GUIDANCE
CONFIRMED
Given the performance reported in
the first quarter and the outlook expected for the months to come,
the Group has confirmed its guidance for 2017:
-
Growth in 2017 gross profit of more than 4% like
for like (2016 gross profit: up 11.8% like for like);
-
Increase in adjusted headline PBIT3
equal to or greater than 6% (adjusted 2016 headline PBIT:
€14.10 M);
-
Rise in adjusted operating margin equal to or
greater than 50 bp (2016 adjusted operating margin:
17.4%).
2016 ANNUAL
REPORT AND 2017 ANNUAL GENERAL MEETING
HighCo's 2016
Annual Report was filed with the Autorité des
Marchés Financiers (French financial markets authority) on 13
April 2017. The report is delivered as the Group's registration
document and is available on HighCo's website (www.highco.com),
under Finance>Regulated Information>Annual Report.
The Annual
General Meeting will be held at the Group's head office in
Aix-en-Provence on 22 May 2017. A dividend of €0.12 per share
for FY 2016 will be proposed at the meeting, with payment scheduled
for 6 June 2017 (ex-dividend date of 2 June 2017).
About HighCo
Since its creation, HighCo has placed innovation at the
heart of its values, offering its clients - brands and retailers -
Intelligent Marketing Solutions to influence shopper behaviour with
the right deal, in the right place, at the right time and on the
right channel.
Listed in compartment C of
Euronext Paris, and eligible for the "long only" DSS, HighCo has
more than 700 employees and since 2010 has been included in
the Gaia Index, a selection of 70 responsible Small and Mid
Caps.
Your contacts
Cécile
Collina-Hue
Cynthia Lerat
Managing
Director Press
Relations
+33 1 77 75 65
06 +33
1 77 75 65 16
comfi@highco.com c.lerat@highco.com
Upcoming events
Publications take place after market close.
Q2 and H1 2017 Gross Profit:
Wednesday, 19 July 2017
2017 Half-year Earnings: Wednesday, 30 August 2017
Conference call on 2017 half-year earnings: Thursday, 31 August
2017
Q3 and 9-month YTD 2017 Gross Profit: Wednesday, 18 October
2017
Q4 and FY 2017 Gross Profit: Wednesday, 24 January 2018
HighCo is a
component stock of the indices CAC® Small (CACS), CAC®
Mid&Small (CACMS) and CAC® All-Tradable (CACT).
ISIN: FR0000054231
Reuters: HIGH.PA
Bloomberg: HCO FP
For further financial information and press
releases, go to www.highco.com
This
English translation is for the convenience of English-speaking
readers. Consequently, the translation may not be relied upon to
sustain any legal claim, nor should it be used as the basis of any
legal opinion. HighCo expressly disclaims all liability for any
inaccuracy herein.
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Source: HIGHCO via Globenewswire
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