LUMIBIRD : 2023 – HALF YEAR REVENUES OF €97.2M (+16%)
24 Juli 2023 - 5:45PM
LUMIBIRD : 2023 – HALF YEAR REVENUES OF €97.2M (+16%)
Lannion,
July 24, 2023
– 5:45
pm
2023 – HALF YEAR REVENUES OF
€97.2M
(+16%)
The LUMIBIRD Group, the European leader
for laser technologies, is reporting sustained
growth, with revenues up
+22% in the second
quarter of 2023 and
+16% for
the first half of the year. Like-for-like and at
constant exchange rates, this growth equates
to
+17%.
With new production facilities now fully operational,
revenue growth is back on track with the strong demand on
Lumibird’s strategic
markets.
Consolidated revenues
(unaudited)
Revenues (€m) |
2023 |
2022 |
Reported change |
2023 at constant scope and exch rates 1 |
Change at constant scope and exch rates |
First quarter |
40.9 |
38.0 |
+8% |
41.2 |
+9% |
Second quarter |
56.3 |
46.0 |
+22% |
57.4 |
+25% |
First half |
97.2 |
84.0 |
+16% |
98.6 |
+17% |
of which |
|
|
|
|
|
Photonics |
45.9 |
38.6 |
+19% |
46.7 |
+21% |
Medical |
51.3 |
45.4 |
+13% |
51.9 |
+14% |
LUMIBIRD Group’s consolidated revenues came to
€97.2m at June 30, 2023, up +16% (+17% like-for-like and at
constant exchange rates). These figures confirm the trend, with
double digit growth for both divisions: +19% for the Photonics
division and +13% for the Medical division.
By Market Segment
In the first semester, the Photonics division
grew by +19% (+21% at constant exchange rate). Compared to the
first half 2022, the Defence and Space line of business grew by
+63%. This good performance is partly driven by the laser
rangefinder business developed in Sweden since May 2022 which
contributed €6.5m over a total of €16.7m for this market segment.
The Defence/Space segment is also progressing, thanks to product
deliveries for several satellite constellation deployments. The
Lidar segment rose by 29% in the first half, driven by increased
production capacity at Lannion and continued strong market demand.
Lastly, Industrial & Scientific activities are back on their
growth trajectory, with growth of +2% in the 2nd quarter, after
revenues were held back at the start of the year by the move to the
new Villejust site.
The Medical division, in turn, grew by +13% to
€51.3m (+14% at constant exchange rates). The division’s sales are
split between Diagnostic (24%) and Treatment (76%). Boosted by the
new products launches in several market segment (Dry Eye, NEO Range
laser for Glaucoma and Cararact) and multiples new product
registration (China (SFDA), USA (FDA), India...)
By Geography
The breakdown of S1 sales by division and by
geographical area is as follows:
Revenues (M€) |
Photonics |
Var. |
Medical |
Var. |
EMEA |
23.5 |
+45% |
17.1 |
+21% |
Americas |
8.3 |
-9% |
13.7 |
-5% |
APAC |
11.1 |
+31% |
12.6 |
+10% |
Rest of the world |
3.0 |
-36% |
7.9 |
+44% |
Total |
45.9 |
+19% |
51.3 |
+13% |
Unaudited data
The Photonics Division recorded strong growth in
Europe (+45%). This was led by France and Sweden. Sales in the
United States were adversely affected by the exchange rate impact
and the postponement of deliveries by some industrial customers
over the next 12 months.
The Medical Division also recorded strong growth
in Europe (+21%). In Asia-Pacific, good performances were recorded
in Japan. In the United States, sales were penalized by the
currency effect and the delayed release of new products due to
registration delays. These new products will be available for sale
in the second half of the year.
LUMIBIRD continues to have a sound order book -
for Photonics and Medical (consistent with June 2022)- thanks to a
portfolio of strong technological value-added products and a global
commercial footprint.
Within the Group's current scope, the objectives
remain an annual organic revenue growth of 8-10% and an EBITDA
margin in the range of 20% to 25%. 2023 EBITDA phasing is expected
to be consistent with the seasonality of the prior year.
The acquisition of Convergent Photonics
(announced in May 2023) remains subject to regulatory approvals in
Italy and the United States. Other acquisitions are currently under
review.
If those acquisitions were to be completed in
2023, the Group could reach an annual turnover (including the
contribution of the acquired businesses over 12 months) of up to
EUR 250 million. Some of these potential acquisitions may be
dilutive on EBITDA, which would bring down to 18-23% the Group’s FY
EBITDA margin (including the contribution of acquired businesses
over 12 months) in the first year of acquisition.
Next
dates:
2023 half-year earnings on September 26, 2023
(after close of trading)
LUMIBIRD is one of the world's leading
specialists in lasers. With 50 years of experience and a mastering
of solid state laser, laser diodes and fiber laser technologies,
the Group designs, manufactures and markets high performance lasers
for scientific (laboratories and universities), industrial
(manufacturing, defense, Lidar sensors) and medical (ophthalmology,
ultrasound diagnostic) markets.
Born from the combination of Keopsys Group with
Quantel in October 2017, LUMIBIRD has more than 1000 employees and
over €191 million of consolidated revenues in 2022 and is
present in Europe, America and Asia.
LUMIBIRD shares are listed on the
Euronext Paris B Compartment. FR0000038242 –
LBIRD www.lumibird.com
Contacts
LUMIBIRDMarc Le FlohicChairman and CEOTel. +33(0) 1 69 29 17
00info@lumibird.com |
LUMIBIRDSonia Rutnam Secretary General Group– Group CFOTel. +33(0)
1 69 29 17 00info@lumibird.com |
CalyptusMathieu CalleuxInvestors RelationsTel. +33(0) 1 53 65 37
91lumibird@calyptus.net |
1 Lumibird Photonics Sweden is included in the scope of
consolidation from 2021. The revenue developed by this subsidiary
since the integration of the Saab Group's defence laser rangefinder
activities in May 2022 is included in organic revenue. It amounted
to €5.7m in 2022 and €6.5m in H1 2023. There is no scope effect in
S1 2023.
- 230724_Lumibird_CAS1_2023ENvdef
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