Highco: Q1 2023 Gross Profit
26 April 2023 - 5:57PM
Highco: Q1 2023 Gross Profit
Aix-en-Provence, 26 April 2023 (6 p.m.)
HIGHCO:
Q1 2023 BUSINESS GROWTH IN LINE WITH EXPECTATIONS (GP UP
+0.5%); 2023 GUIDANCE CONFIRMED
Slight business growth in Q1 2023 driven by
Digital
- Q1 2023 gross
profit1 of €18.9 m, up 0.5% on a reported basis and LFL2.
- Growth in digital
businesses (up 1.2% LFL) and slight drop in offline businesses
(down 0.8% LFL).
- Business growth in
France (up 1% LFL) and decline in International business (down 2.3%
LFL).
2023 guidance confirmed
- Stable gross
profit and operating margin.
2022 Annual Financial Report and Annual
General Meeting on 15 May 2023
(€ m) |
2023 |
2022 |
2023/2022 Change |
Q1 Gross Profit1 |
18.90 |
18.80 |
+0.5% |
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, “HighCo’s start to the year was in line with
expectations, with slight growth (0.5%) driven by Digital
businesses.
The Group continues to support its main clients
through innovation, by consistently coming up with concrete
solutions to address the new challenges in retail (inflation,
gradual phasing-out of paper flyers, etc.).
HighCo begins this second quarter with the same
approach and confirms its guidance for 2023.”
SLIGHT BUSINESS GROWTH IN Q1 2023 DRIVEN
BY DIGITAL
As expected, HighCo showed slight growth
in Q1 2023 and posted a 0.5% increase in gross profit to
€18.9 m.
Digital was up 1.2% and its
share of the Group’s gross profit rose slightly in Q1 2023 to
reach 65.9%. Meanwhile, offline businesses fell 0.8% over the
quarter.
Business growth in France and decline in International
business
FRANCE |
Gross Profit (in € m) |
2023/2022Change |
% Totalgross profit |
2023 |
2022 |
Q1 |
16.30 |
16.14 |
+1.0% |
86.3% |
In France, Q1 2023 gross profit
increased by 1% to €16.3 m and accounted for 86.3% of
the Group’s gross profit.As a result, Digital businesses
grew 1.6% in Q1 2023, representing two-thirds of total
business activities (66.9%). Offline businesses held up well in
France over the quarter (down 0.2%).
INTERNATIONAL |
Gross Profit (in € m) |
2023/2022Change |
% Totalgross profit |
2023 |
2022 |
Q1 |
2.59 |
2.65 |
-2.3% |
13.7% |
International business fell 2.3% in
Q1 2023 to €2.59 m and accounted for 13.7% of
the Group’s gross profit. The share of Digital in
International business rose slightly, representing 59.5% of gross
profit for the quarter.In Belgium, as anticipated,
gross profit retracted 4%, impacted by the drop in the volume of
coupons cleared.With growth of 8.7% and fully digital, business in
other countries (Spain and Italy)
remained strong and now account for 2% of the Group’s gross
profit.
2023 GUIDANCE CONFIRMED
Given the performance reported in Q1 and the
slight business growth expected for Q2 (comparable
to Q1 reported growth), the Group has confirmed its
guidance for 2023:
-
Stable gross
profit (2022 gross profit: €77.16 m);
- Operating margin
(headline PBIT/gross profit) of approximately 21%
(2022 operating margin: 21.0%).
2022 ANNUAL FINANCIAL REPORT AND 2023
ANNUAL GENERAL MEETING
HighCo’s 2022 Universal Registration
Document was filed with the Autorité des Marchés
Financiers (French financial markets authority) on 21 April
2023 under No. D.23-0318. 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
Monday, 15 May 2023 at
10.30 a.m. A
significantly higher dividend of €0.40 per share with
respect to FY 2022 will be proposed at the meeting,
with the payment date scheduled for 26 May 2023 (ex-dividend date
of 24 May 2023).
About HighCo
As an expert marketing and
communication, HighCo supports brands and retailers in accelerating
the transformation of retail.Listed in compartment
C of Euronext Paris, and eligible for SME equity savings plans
(“PEA-PME”), HighCo has more than
500 employees.HighCo has
achieved a Gold rating from
EcoVadis, meaning that the Group is ranked in the top 5% of
companies in terms of CSR performance and responsible
purchasing.
Your
contacts
Cécile
Collina-Hue Nicolas
CassarManaging
Director Press
Relations+33 1 77 75 65
06 +33
4 88 71 35
46comfi@highco.com n.cassar@highco.com
Upcoming events
Publication takes place after market
close.
Q2 and H1 2023 Gross Profit: Wednesday, 19 July
20232023 Half-year Earnings: Wednesday, 13 September 2023Conference
call on half-year earnings: Thursday, 14 September 2023 at
11 a.m.Q3 and 9-month YTD 2023 Gross Profit: Wednesday, 18
October 2023Q4 2023 Gross Profit: Wednesday, 24 January 2024
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: 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 T1 2023_FR_VDEF_EN
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