Regulatory News:
CLASQUIN (Paris:ALCLA):
H1 2021
%GP
H1 2020
%GP
H1 2021/H1
2020
H1 2019
H1 2021/H1
2019
CONSOLIDATED FINANCIAL
STATEMENTS*
Number of shipments
143,795
115,272
+24.7%
132,090
+8.9%
Sales (€m)**
293.8
181.4
+62.0%
154.0
+90.8%
Gross profit (€m)
51.9
100.0%
36.1
100.0%
+43.6%
36.1
+43.5%
EBITDA (€m)
13.7
26.5%
7.0
19.3%
+97.1%
6.5
+110.6%
Current operating income (€m)
10.3
19.8%
2.8
7.6%
+272.0%
3.9
+165.7%
Consolidated net profit (€m)
7.0
13.4%
0.9
2.6%
+637.4%
2.3
+205.9%
Net profit Group share (€m)
6.5
12.5%
0.7
2.0%
+814.4%
1.9
+240.0%
*
Unaudited financial statements approved by the Board of Directors
on 21 September 2021
** Sales
is not a relevant indicator of business in our sector, as it is
greatly impacted by changing air and sea freight rates, fuel
surcharges, exchange rates (particularly versus USD), etc. Changes
in the number of shipments, volumes shipped and, in financial
terms, gross profit are relevant indicators.
H1 2021 HIGHLIGHTS
Completion of development projects now fuelling
growth
- Spain: January acquisition of the Columbus Transit SA
business by CLASQUIN Spain. 5-member team managing annual gross
profit of around €0.7m.
- Belgium: Creation of CLASQUIN BELGIUM followed on 1
April by this entity’s acquisition of the business
assets represented by the international activities of
INTERLINES Belgium. Team of approximately 20 people
generating annual gross profit of around €1.5m.
- France: Q2 2021 acquisition of a 55.56% equity stake
in Transports Petit International, a company that charters
flights carrying sensitive, high value-added goods to African
markets. Annual gross profit around €1.8m. This company was
consolidated from 1 January (control effectively obtained).
Ongoing deployment of the LIVE by CLASQUIN collaborative
digital platform and expansion of the client offering
Scope covered by LIVE at 30 June 2021: 160 clients generating
24% of Group gross profit.
H1 2021 BUSINESS VOLUMES AND EARNINGS
The dramatic increase in gross profit (up 43.6% versus H1
2020 and up 43.5% versus H1 2019) was driven by:
- robust growth in volumes shipped by air and by sea (up
22.4% and 28.0% respectively) fuelled by dynamic core business and
the acquisition of new clients
- expansion of our added value offering: digital platform,
project business, etc.
- the completion of development projects
- unprecedented market conditions (port and airport
congestion, shortage of containers, etc.) resulting in major
disruptions to international supply chains and a sharp rise in
global sea freight rates.
These extreme conditions demanded exceptional commitment on
the part of our teams, who managed to keep client supply chains
up and running and deploy strengthened resources and solutions to
make up for market operator shortcomings (hiring containers,
cross-continental route offerings, chartering, etc.).
Under these unprecedented circumstances, the Group also carried
out a recruitment drive (headcount up 7%, 1/3 of whom
originated from our development projects), which is expected to
continue throughout the second half in view of the pace of business
growth.
This hiring campaign combined with the base effect of 2020
impact of the multiple temporary expense relief measures resulted
in a 30.8% increase in operating expenses, comprising
external charges and payroll (up 18% versus 2019 at constant
consolidation). However, as operating expenses increased less than
gross profit, the Group managed to double EBITDA (up
97.1%).
Current operating income (EBIT) increased fourfold (up
272.0%) as a result of lower provision charges in H1 2021
versus H1 2020, when the pandemic was in full sway.
Accordingly, the EBIT/GP ratio increased from 7.6% to
19.8%.
On the bottom line, consolidated net profit increased
sevenfold (up 637.4%) while net profit Group share was multiplied
by more than nine (up 814.4%), mainly due to the use of
previously unrecognised tax losses (€0.5m).
FINANCIAL POSITION
30/06/2021 (6 months)
31/12/2020 (12 months)
31/12/2019 (12 months)
Gross operating cash flow (€m)
13.5
15.1
13.3
% of gross profit
26.1%
19.8%
17.3%
Shareholders’ equity (€m)
33.6
30.9
26.8
Net debt (€m)
47.3
31.6
28.2
Leverage (net debt/EBITDA)*
1.7
1.9
2.0
Shareholders’ equity (excl. IFRS 16)
(€m)
33.7
31.1
27.0
Net debt (excl. IFRS 16) (€m)
36.1
22.6
18.6
Leverage (excl. IFRS 16)*
1.5
1.6
1.7
* H1 EBITDA doubled.
The increase in net debt was mainly due to the increase in
working capital (up €16m) resulting from the increase in sales
(up 62%) and current market conditions that are lengthening the
operating cycle.
On the other hand, the sharp rise in EBITDA allowed the Group to
improve leverage and, therefore, its ability to finance its
development.
2021 OUTLOOK
Market
International trade estimates (by volume): up 8% (WTO
31/03/2021)
Sea freight market estimates (by volume): up 5-7% Air freight
market estimates (by volume): up 7-9%
CLASQUIN
Business and earnings: outperforming significantly market
growth
UPCOMING EVENTS (publication
after-market closure)
- Thursday 28 October 2021
- Thursday 24 February 2022
- Tuesday 22 March 2022
- Thursday 28 April 2022
Q3 2021 business report
Q4 2021 business report
FY 2021 results
Q1 2022 business report
CLASQUIN est un spécialiste de
l’ingénierie en transport aérien et maritime et en logistique
Overseas. Le Groupe se positionne en architecte et maître d’œuvre
de toute la chaîne de transport et de logistique Overseas : il
pilote et organise les flux de marchandises de ses clients, entre
la France et le monde et plus particulièrement de et vers l’Asie
Pacifique, l’Amérique du Nord, le Maghreb et l'Afrique
subsaharienne.
Le titre est coté sur EURONEXT
GROWTH, ISIN FR0004152882, Reuters ALCLA.PA, Bloomberg ALCLA FP.
Pour plus d’information, merci de consulter notre site
www.clasquin.com.
CLASQUIN est éligible au PEA PME
conformément à l'article D221-113-5 du Code monétaire et financier
créé par le décret n°2014-283 du 4 mars 2014 et à l'article
L221-32-2 du Code monétaire et financier fixant les conditions
d'éligibilité (moins de 5 000 salariés et chiffre d'affaires annuel
n'excédant pas 1 500 millions d'euros ou total de bilan n’excédant
pas 2 000 millions d'euros)."
CLASQUIN fait partie de
l’indice EnterNext© PEA-PME 150.
LEI : 9695004FF6FA43KC4764
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210922005777/en/
CLASQUIN Philippe LONS – Directeur général délégué/Directeur
financier Domitille CHATELAIN – Group Head of Communication
& International Marketing Executive
Groupe CLASQUIN – 235 cours Lafayette – 69006 Lyon Tél : 04 72
83 17 00 – Fax : 04 72 83 17 33
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