HighCo : Q3 2021 gross profit
20 Oktober 2021 - 6:00PM
HighCo : Q3 2021 gross profit
Aix-en-Provence, 20 October 2021
(6.00 p.m.)
HIGHCO: GROWTH IN Q3 2021 IN LINE
WITH EXPECTATIONS (GP: UP 1.1%);
2021 GUIDANCE
CONFIRMED
Q3 2021 business growth driven by
Digital
- Q3 2021 gross
profit1 of €18.72 M, up 1.1% on a reported basis and
LFL2.
- 9-month 20211
gross profit of €56.52 M, an increase of 3.7% on a reported
basis and LFL2.
- Digital businesses
showing solid growth over the quarter (Q3 up 4.5% LFL, 9-month YTD
up 2.6% LFL).
- Slight business
growth in France (Q3 up 0.6% LFL; 9-month YTD up 3.4% LFL) and a
positive trend in International businesses (Q3 up 4.6% LFL; 9-month
YTD up 5.5% LFL).
2021 guidance confirmed
Gross Profit (in € M) |
2021 |
2020 LFL2 |
2021/2020LFL2
change |
Q1 |
18.59 |
18.19 |
+2.2% |
Q2 |
19.21 |
17.78 |
+8.1% |
Q31 |
18.72 |
18.52 |
+1.1% |
9-month total1 |
56.52 |
54.49 |
+3.7% |
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).Furthermore, in application of IFRS 5 – Non-current
Assets Held for Sale and Discontinued Operations, Shelf Service
businesses were reported as discontinued operations as of the
fourth quarter of 2020. For reasons of consistency, the data
reported for the first nine months of 2020 has been restated to
account for the impact of Shelf Service. As a result, like-for-like
data is equal to restated data for the first nine months of 2020.3
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, “Driven by its digital businesses (up 4.5%), HighCo
posts a third quarter in line with expectations. Digital is
supported by the strong growth in mobile businesses (up 6.4%) and
now accounts for more than two-thirds of our total business. Given
this good performance and sound cost control, we can expect slight
business growth in the fourth quarter and confirm our guidance for
2021 operating margin.”
Q3 2021 BUSINESS GROWTH DRIVEN BY
DIGITAL
After a healthy H1 2021 (up 5.1% like for like),
HighCo continued its growth trend in Q3 2021 and
posted a 1.1% increase in gross profit to €18.72 M,
in line with expectations.This growth was mainly driven by:
- Mobile businesses,
which remained on an upward trend (up 6.4%);
- Volumes of coupons
cleared, which continued to surge (up 30%), especially
thanks to paperless clearing (up 41%);
- Strong business in
Belgium (up 4.4%).
Digital business grew 4.5% like for like
in Q3 2021, accounting for 70.5% of the Group’s gross
profit, continuing their positive trend. Meanwhile, offline
businesses fell 6.2% over the quarter.
As a result, the Group’s businesses were
up 3.7% over the first nine months of 2021 to
€56.52 M. This growth was mainly driven by: growth in
Mobile businesses (up 7%), higher volumes of coupons cleared (up
21%) and good performance in Belgium (up 5.7% like for like). Now
accounting for 66.4% of HighCo’s businesses, Digital rose 2.6% over
the period.
France: slight business
growth
FRANCE |
Gross Profit (in € M) |
2021/2020LFL change |
% Total gross profit |
2021 |
2020 LFL |
Q1 |
15.98 |
15.30 |
+4.5% |
86.0% |
Q2 |
16.50 |
15.66 |
+5.4% |
85.9% |
Q3 |
16.30 |
16.21 |
+0.6% |
87.1% |
9-month total |
48.79 |
47.16 |
+3.4% |
86.3% |
In France, Q3 2021 gross profit grew
slightly, by 0.6% to €16.3 M. Digital
businesses grew 5.2%, supported by Mobile and the sharp
rise in the volumes of digital coupons issued, especially on Click
& Collect websites. Quarterly business activity was impacted by
the 9.5% decline in offline businesses.For the first nine
months of 2021, business was up 3.4%, with France
accounting for 86.3% of the Group’s gross profit. Digital
businesses grew 2.3%, and their share represented 67.1% of gross
profit. Growth in Digital remained limited due to a less favourable
comparative base (better resilience of digital businesses in
2020).
International: positive business
activity
INTERNATIONAL |
Gross Profit (in € M) |
2021/2020LFL change |
% Total gross profit |
2021 |
2020 LFL |
Q1 |
2.61 |
2.90 |
-10.1% |
14.0% |
Q2 |
2.71 |
2.12 |
+27.8% |
14.1% |
Q3 |
2.42 |
2.31 |
+4.6% |
12.9% |
9-month total |
7.74 |
7.33 |
+5.5% |
13.7% |
International gross profit for
Q3 2021 rose 4.6% like for like to €2.42 M,
confirming the recovery observed in Q2. This business growth came
mainly from Belgium (up 4.4%), where the volume of
coupons cleared rose sharply. Business in other countries showed
healthy growth of 7%.
For the first nine months of the
year, International businesses
grew 5.5% to €7.74 M, accounting for 13.7% of the
Group’s gross profit. Digital grew 4.2% and accounted for 61.5% of
gross profit.
2021 GUIDANCE CONFIRMED
With its financial performance in Q3 in line
with expectations, the Group confirms its guidance for
2021:
- Slight growth in gross
profit in the second half and fourth quarter (Q4 2020
gross profit: €19.67 M; H2 2020 gross profit:
€38.19 M; FY 2020 gross profit: €74.16 M);
- Adjusted operating
margin (adjusted headline PBIT3/gross profit) of
more than 19% (2020 adjusted operating margin:
16.4%).
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 event
Publication takes place after market
close.
Q4 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 T3 2021 MB_VDEF_EN
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