Highco: Q1 2021 Gross Profit
Aix-en-Provence, 21 April 2021
(6.00 p.m.)
HIGHCO: RETURN TO
BUSINESS GROWTH IN Q1 (GP UP 2.2%);
STRONGER GROWTH EXPECTED IN Q2 (BETWEEN 6% AND
8%)
Business growth in Q1 2021
- Q1 2021 gross
profit1 of €18.59 M, up 2.2% on a reported basis and
LFL2.
- Growth in digital
businesses: Q1 LFL up 2.3%.
- Buoyant activity
in France: Q1 LFL up 4.5% (86% of Group gross profit).
- Decline in
International business: Q1 LFL down 10.1% (14% of Group gross
profit).
Growth in Q2 2021 expected between 6%
and 8%; 2021 guidance confirmed
HighCo Venturi
startup studio: update on innovative
retail tech projects
2020 Annual Financial Report and Annual
General Meeting on 17 May 2021
(€ M) |
2021 |
2020 LFL2 |
2021/2020LFL2
change |
Q1 Gross Profit1 |
18.59 |
18.19 |
+2.2% |
1 Unaudited data.2 Like for like: Based on a
comparable scope and at constant exchange rates (i.e. applying the
average exchange rate over the period to data from the compared
period).
Didier Chabassieu, Chairman of the Management
Board, stated, “In today’s still very complex health and economic
environment, HighCo has resumed growth, with a first quarter up by
2.2%. This growth is driven by the strong performance in France (up
4.5%) and other factors including the sharp rise in the use of
digital coupons on Click & Collect sites. This positive
business trend is expected to continue in the second quarter, with
growth in gross profit between 6% and 8%, mainly driven by Mobile
business, the higher number of coupons cleared, and the business
recovery in Belgium. The Group is also moving forward in its
innovation strategy through its retail tech startup studio.”
BUSINESS GROWTH IN Q1 2021
In today’s still challenging health and economic
environment, HighCo resumed growth in Q1 2021 and
posted a 2.2% increase in gross profit to €18.59 M
thanks to the good performance in France.
Up 2.3%, Digital supported this growth, and its
share of total Group business climbed 10 basis
points from the end of March 2020 to the end of
March 2021, to reach 62.6%.Offline
businesses held up well and grew by 2%.
France: buoyant business
FRANCE |
Gross Profit (in € M) |
2021/2020LFL change |
% Total gross profit |
2021 |
2020 LFL |
Q1 |
15.98 |
15.30 |
+4.5% |
86.0% |
With healthy growth of 4.5%, France
posted gross profit of €15.98 M in Q1 2021,
representing 86% of the Group’s gross profit. Digital businesses
rose 4.6%, and their share represented 62.8% of gross profit. This
growth is mainly driven by a sharp increase in digital coupon
issuance, which doubled on Click & Collect websites.
Furthermore the number of coupons cleared using paperless systems
rose significantly over the quarter compared with the same period
in 2020 (up 63%).
International: decline in
business
INTERNATIONAL |
Gross Profit (in € M) |
2021/2020LFL change |
% Total gross profit |
2021 |
2020 LFL |
Q1 |
2.61 |
2.90 |
-10.1% |
14.0% |
International gross profit dropped 10.1%
like for like to €2.61 M in Q1 2021, i.e. 14% of
the Group’s gross profit. In Belgium, gross profit fell 11.1%.
The share of Digital of Belgian businesses represented 56.1% of
gross profit. Down slightly by 1.4%, business in the Group’s other
countries is on a better trend and accounts for 1.7% of the Group’s
gross profit.
GROWTH IN Q2 2021 EXPECTED BETWEEN 6%
AND 8%; 2021 GUIDANCE CONFIRMED
With a strong rise forecast for April,
business in Q2 is expected to show growth between
6% and 8%, including:
- double-digit growth in
Mobile businesses;
- a significant increase in the
number of coupons cleared in France;
- a business recovery in
Belgium.
In light of the good performance reported in
Q1 2021 and the outlook expected for the months to come, the
Group has confirmed its guidance for 2021:
- A return to growth in gross profit
(2020 gross profit: €74.16 M);
- Rise in adjusted operating margin
(adjusted headline PBIT/gross profit) to more than 17% (2020
adjusted operating margin: 16.4%).
HIGHCO VENTURI STARTUP STUDIO: UPDATE ON
INNOVATIVE RETAIL TECH PROJECTS
The Group reiterates that, through its
startup studio HighCo
Venturi, it is advancing in its innovation
strategy to create its growth drivers and the solutions
that the market needs.With access to human and financial resources,
HighCo Venturi chose to give priority to digitising two main
promotional tools, discount coupons and
flyers:
- For mobile discount coupons:
- Develop the first universal
mobile coupon recognised by check-out systems at
all points of sale, the necessary first step to launching
mobile coupons in large food retail chains; operational launch
already complete in about 30 French pharmacies, with a
target to roll out the solution to more than 2,000 connected
pharmacies by the end of 2021;
- Build a platform to issue
personalised mobile coupons.
- For digital flyers: Launch a
platform where food e-commerce retailers can digitise their
commercial and promotional communication content, thereby
offering them a valid alternative to paper flyers.
2020 ANNUAL FINANCIAL REPORT AND 2021
ANNUAL GENERAL MEETING
HighCo’s 2020 Universal
Registration Document was filed with the Autorité des
Marchés Financiers (French financial markets authority) on
16 April 2021 under No. D21-0319. The document contains
the annual financial report and is available on HighCo’s website
(www.highco.com), under Investors > Regulated information >
Annual Financial Report.
The Annual General Meeting will be
held at the head office in Aix-en-Provence on 17
May 2021. A dividend of
€0.27 per share
will be proposed at the meeting,
representing a strong 68.8% increase on the
dividend paid in 2019 (for FY 2018), which was €0.16 per
share. Dividend payment is scheduled for 24 May 2021 (ex-dividend
date of 20 May 2021).If measures are taken that would prevent
in-person attendance, the Management Board could decide to hold the
meeting under closed session. The shareholders would be informed
and are encouraged to check the Company website regularly at:
https://www.highco.com/en/investors/assemblee-generale/.
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 SME equity savings plans (“PEA-PME”),
HighCo has nearly 600 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.
Q2 and H1 2021 Gross Profit: Tuesday, 20 July
20212021 Half-year Earnings: Wednesday, 25 August 2021Conference
call on 2021 half-year earnings: Thursday, 26 August
2021Q3 and 9-month YTD 2021 Gross Profit: Wednesday, 20
October 2021Q4 and FY 2021 Gross Profit: Wednesday, 19 January
2022
HighCo is a component stock of the indices CAC®
Small (CACS), CAC® Mid&Small (CACMS), CAC® All-Tradable (CACT),
Euronext® Tech Croissance (FRTPR) and Enternext® PEA-PME 150
(ENPME).
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.
- HighCo CP T1 2021 MB_VDEF_EN
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