HIGHCO : Q2 2019 Gross Profit
Aix-en-Provence, 17 July 2019
(6.00 p.m.)
HIGHCO: THE PICK-UP IN GROWTH IN THE
SECOND QUARTER (GROSS PROFIT), AT 3.9% LFL, SHOULD CONTINUE IN THE
SECOND HALF OF THE YEAR
Pick-up in business growth
- Q2 2019 gross profit1 of €25.03 M, up 11.4% on a reported
basis and 3.9% LFL2.
- H1 2019 gross profit1 of €48.2 M, up 11.6% on a
reported basis and 3.5% LFL2.
- Very strong growth surge for digital businesses: Q2 up 10.7%
LFL; H1 up 8.7% LFL.
- Strong growth in France: Q2 up 4.6% LFL; H1 up 4.2% LFL.
- Growth in International business: Q2 up 2% LFL; H1 up 1.4%
LFL.
2019 half-year earnings: Rise expected
in adjusted headline PBIT3 and adjusted operating
margin3
2019 guidance: Better-than-expected
business growth with H2 growth over 3.9%
- Growth in 2019 gross profit of more than 3.7% LFL.
- Slight rise in adjusted operating margin (adjusted headline
PBIT/gross profit)3 (2018 adjusted operating margin: 18.3%).
Gross Profit (in € M)1 |
2019 |
2018 Reported |
2018 LFL2 |
2019/2018 Reported change |
2019/2018 LFL2 change |
Q1 |
23.17 |
20.73 |
22.48 |
+11.8% |
+3.1% |
Q2 |
25.03 |
22.47 |
24.09 |
+11.4% |
+3.9% |
Total H1 |
48.20 |
43.19 |
46.58 |
+11.6% |
+3.5% |
1 Limited audit by the Statutory Auditors
currently in progress.2 Like for like: Based on a comparable scope
(i.e. including Useradgents over six months in 2018 and 2019, as of
1 January) 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 and 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, “Following a healthy first quarter, HighCo
accelerated its business growth in the second quarter, at 3.9%,
bolstered by the strong growth in Digital business, which
represented 54.8% of the Group’s gross profit for the first half of
2019. This good performance should continue in the second half of
the year, with business growth expected to exceed growth in the
second quarter.”
PICK-UP IN BUSINESS GROWTH
Following a healthy Q1 2019 (up 3.1% like
for like), the Group accelerated its business growth in Q2
to reach gross profit of €25.03 M,
up 11.4% on a reported basis and 3.9% like for
like.
The Group’s gross profit came to
€48.2 M for H1 2019, up 11.6% on a reported
basis and 3.5% like for like.
With a like-for-like increase of 10.7%
in Q2 2019, Digital remains the Group’s growth
driver. The share of Digital in total Group business
continued to rise significantly, up from the reported figure of
49.4% in Q2 2018 to 56.2% in Q2 2019.This strong
quarterly performance enabled the Group to achieve a 54.8% share of
Digital in its total business activity at end-June 2019, i.e. a
significant gain of 8.7% like for like. Meanwhile, offline
businesses fell 2.2% like for like over the first half of 2019.
Revenue for H1 2019 totalled
€89.9 M.
STRONG GROWTH IN FRANCE; GROWTH IN INTERNATIONAL
BUSINESS
In France, Q2 2019 gross profit
totalled €18.62 M, a strong rise of 4.6% like for
like, accounting for 74.4% of the Group’s gross profit.
This growth is driven by the positive trend in digital businesses
(up 11% like for like); their share in total French business rose
to 64.4% over the quarter.Gross profit in France amounted
to €36.33 M for H1 2019, up 4.2% like for like, and
was driven by Digital (up 9.4% like for like). The share of Digital
in total French business increased from 54.5% at end-June 2018
(excluding Useradgents) to 61.7% a year later (including
Useradgents), benefiting in particular from growth in mobile.
International gross profit in
Q2 2019 stood at €6.41 M, up 2% like for like.
In Benelux, gross profit increased 2.2% like for like over the
second quarter to €6.14 M.International gross profit
totalled €11.87 M for H1 2019, rising 1.4% like for like.
In Benelux, following slight growth in Q1 (up 0.7% like
for like), business growth came out at
1.5% like for like for the first half of 2019,
accounting for 23.5% of the Group's gross profit. The 5.8% growth
in digital businesses over the half-year, representing 30.7% of
gross profit for the region, helped offset the drop in the volume
of paper coupons cleared and the decline in offline in-store media.
Business in Southern Europe fell slightly over the first half of
2019 (down 0.7% like for like). The region accounts for 1.1% of the
Group’s gross profit.
2019 HALF-YEAR EARNINGS
Based on the consolidation in progress,
the Group forecasts an increase in half-year
earnings, with:
- Increase in adjusted headline PBIT3 and slight growth in
adjusted operating margin3 for H1 2019 (adjusted H1 2018
headline PBIT3: €11.32 M, adjusted H1 2018 operating
margin3: 26.2%);
- A sound financial position, with a net cash surplus (including
the working capital resources of Data businesses) expected to
exceed the €52.17 M figure at 31 December 2018.
The 2019 half-year earnings will be released on
Wednesday, 28 August after market close. A conference call
with analysts will take place on Thursday, 29 August.
2019 GUIDANCE: BETTER-THAN-EXPECTED
BUSINESS GROWTH WITH H2 GROWTH OVER 3.9%
With H2 business growth expected to exceed
growth in Q2 (up 3.9% like for like), the Group has revised
its guidance for 2019 as follows:
- Growth in 2019 gross profit of over 3.7% on a
like-for-like basis (2018 gross profit: up 2.6% like for
like), with a higher share of Digital in the Group’s business in
2019 than in 2018 (52.9% in 2018);
- Slight rise in adjusted operating margin (2018 adjusted
operating margin: 18.3%).
About HighCo
As an expert in data marketing and
communication, HighCo continuously innovates to work with brands
and retailers in meeting the retail challenges of
tomorrow.Listed in compartment C of Euronext
Paris, and eligible for the “long only” DSS, HighCo has more than
750 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 LeratManaging
Director
Press Relations+33 1 77 75 65
06
+33 1 77 75 65
16comfi@highco.com
c.lerat@highco.com
Upcoming
events
Publications take place after market
close.
2019 Half-year Earnings: Wednesday, 28 August
2019Conference call on 2019 half-year earnings: Thursday, 29 August
2019 (11.00 a.m. CET)Q3 and 9-month YTD 2019 Gross
Profit: Wednesday, 16 October 2019Q4 and FY 2019 Gross Profit:
Wednesday, 22 January 2020
HighCo is a component stock of the indices CAC®
Small (CACS), CAC® Mid&Small (CACMS) and CAC® All-Tradable
(CACT).ISIN: FR0000054231Reuters: HIGH.PABloomberg: HCO FPFor
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.
- HighCo CP T2 2019 MB_VDEF_EN
High (EU:HCO)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
High (EU:HCO)
Historical Stock Chart
Von Jul 2023 bis Jul 2024