LACROIX reports first quarter results in line with forecasts, with 29.4% growth in revenue driven by the acquisition of Firstronic.
09 Mai 2022 - 06:01PM
LACROIX reports first quarter results in line with forecasts, with
29.4% growth in revenue driven by the acquisition of Firstronic.
LACROIX
reports first quarter results in line with
forecasts,with 29.4% growth in
revenue,driven by the acquisition
of Firstronic
Revenue in millions of euros |
Q1 2022 |
Q1 2021 |
Change |
Electronics activity |
122.1 |
86.6 |
+41.0% |
City
activity |
23.4 |
23.8 |
-1.4% |
Environment activity |
19.6 |
17.2 |
+14.0% |
Total |
165.1 |
127.6 |
+29.4% |
"In the first quarter of 2022, LACROIX continues
to see strong sales momentum in all its business lines and
geographic markets. This dynamic is driven by long-term trends and
is only balanced by the uncertainties of the current context and
the persistent tensions pertaining to component supplies. LACROIX's
performance over the period was in line with forecasts, and it is
continuing to grow, driven by the acquisition of Firstronic," said
Vincent Bedouin, Chairman and CEO of LACROIX.
First quarter results in line with
expectations, despite a turbulent economic climate
LACROIX reported performance in line with
expectations for the first quarter of the year. Over the period,
revenue amounted to €165.1 million, up 29.4% compared to the first
quarter of 2021, a level of activity perfectly in line with the
annual target of +30%. On a like-for-like basis, Q1 activity was
virtually stable at €126.8 million (-0.6%).
The increase in revenue in the first quarter is
mainly due to the acquisition of Firstronic1. In organic terms,
despite solid sales, business is understandably penalized by the
persistent difficulties in the electronic component supply
chain.
Electronics activity
Over the period, the Electronics activity
reported revenue of €122.1 million, up 41.0% compared to the first
quarter of 2021, mainly due to the acquisition of Firstronic.
Excluding scope impact, growth in business for the quarter was
-3.2%, penalized by difficulties in the component supply chain,
compared to the conditions prevailing over the same period in 2021,
impacting the automotive segment, among others.
City activity
In the first quarter, revenue for the City
activity was down slightly by 1.4% to €23.4 million, due to a soft
start in the Signalling and Traffic segments, offset by the
continued excellent momentum of the Street Lighting segment (+20%
compared to Q1 2021).
LACROIX also points out that, as this activity
is driven by major projects, quarterly trends are not necessarily
relevant, as they may be highly dependent on whether or not a
project is included in the period under consideration.
Environment activity
This activity continues to benefit from
excellent momentum, with a 14.0% increase in revenue in the first
quarter of 2022, to €19.6 million, compared to €17.2 million in the
first quarter of 2021. The performance was driven by the Water
segment, both in France and internationally. Revenue in the Energy
segment was stable over the period despite a growing order book,
which should be converted to revenue over the coming quarters.
Targets confirmed
Despite the caution imposed by the current
situation, and after a first quarter in line with expectations,
LACROIX is maintaining its annual targets, i.e. expected revenue
growth of over 30%, combined with an current EBITDA margin at least
equal to the 2021 level, i.e. 6.2% of revenue.
Upcoming reportsRevenue for the
second quarter and first half of 2022: 25 August 2022 after market
close
Visit our investor relations page to
find financial
informationhttps://www.lacroix-group.com/investors/
About
LACROIX
Convinced that technology should contribute to
making our living environments simpler, more sustainable and safer,
LACROIX supports its customers in the construction and management
of intelligent living ecosystems, thanks to connected equipment and
technologies.
As a publicly-listed family-owned mid-cap,
LACROIX combines the essential agility required to innovate in an
ever-changing technological sector with the ability to
industrialise robust and secure equipment, cutting-edge know-how in
industrial IoT solutions and electronic equipment for critical
applications and the long-term vision to invest and build for the
future.
LACROIX designs and manufactures electronic
equipment, in particular in the automotive, home automation,
aeronautical, industrial and health sectors. LACROIX also provides
safe, connected equipment for the management of critical
infrastructure such as smart roads (street lighting, traffic signs,
traffic management, V2X) and the management and operation of water
and energy systems.
Drawing on its extensive experience and
expertise, the Group works with its customers and partners to build
the connection between the world of today and the world of
tomorrow. It helps them to create the industry of the future and to
make the most of the opportunities for innovation that surround
them, supplying them with the equipment for a smarter world.
1 As a reminder, Firstronic was included in our consolidated
statement as of 1 January 2022.
Contacts
LACROIX Deputy CEO & Executive VP Finance
Nicolas Bedouin investors@lacroix-group.com Tel:
+33 (0)2 40 92 58 56 |
ACTIFIN Media Relations Jennifer
Jullia jjullia@actifin.fr Tel: + 33 (0)1 56 88 11 19 |
ACTIFIN Financial communication Simon
Derbanne sderbanne@actifin.fr Tel: +33 (0)6 43 07 96
55 |
- LACROIX_CP_CA Q1_20220509_EN_VDEF (003)
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