Third Quarter 2021 Revenue
- Q3 2021 revenue of €212.1 million
- 9-month revenue of €653.5 million
- Excellent sales momentum and solid outlook for
growth
In € million |
9 months |
Q3 |
2021 |
2020 |
% change |
2021 |
2020 |
% change |
Total |
653.5 |
578.8 |
+12.9% |
212.1 |
213.6 |
-0.7% |
From France |
391.8 |
363.7 |
+7.7% |
121.5 |
139.3 |
-12.7% |
From Benelux |
114.2 |
100.1 |
+14.1% |
39.3 |
33.9 |
+15.9% |
From other countries |
147.5 |
115.0 |
+28.2% |
51.3 |
40.4 |
+27.0% |
Data for the first half of 2020 have been restated to
consolidate Worldlink as of January 1, 2020.
9-month growth of 12.9%
Consolidated revenue
Solutions 30 reported revenue of
€653.5 million for the first nine months of 2021, up 12.9%.
The group’s maintenance business, which is recurrent in nature,
represents 61% of the group’s revenue. Compared to the first nine
months of 2019, revenue as of September 30, 2021, is up by nearly
35%, confirming the underlying buoyant trends the group is
benefiting from.
Solutions 30 posted revenue of
€212.1 million in the third quarter of 2021, a 0.7% decline
(-4.2% like for like) given a particularly high basis of comparison
and ongoing difficulties in the supply of material which caused
some call-outs and projects to be postponed. Indeed, Q3 and Q4
2020, benefited from a catch-up effect after the lifting of the
first lockdown, both in the Telecom and Energy businesses, and more
particularly in France where the market is more mature. Compared to
Q3 2019 pre-COVID activity level, Q3 2021 is up by nearly 26%.
Revenue by region
France:
For the first nine months of 2021, revenue in
France reached €391.8 million, up 7.7%.
Revenue for the third quarter amounted to
€121.5 million, down 12.7% compared to the same period of
2020. Compared to pre-COVID third-quarter revenue in 2019, it is up
by 15.4%.
The Telecom business posted revenue of
€86.1 million, down by 12.9%, due to the combination of an
unfavorable base effect for subscriber connections, disruptions in
supply chains, and the anticipated slow-down in network
infrastructure roll-outs, being only been partly compensated at
this stage by the ramp-up of maintenance activities.
Revenue from the Energy business amounted to
€19.7 million in the third quarter of 2021, compared with
€25.1 million in 2020. This 21.5% decline is a result of the
gradual phase-out of smart meter roll-outs and has only been
partially offset by emerging opportunities in new market segments,
including the installation of charging stations for electric
vehicle and other renewable energy activities that are suffering
from semiconductors shortages.
The IT business posted revenue of
€11.2 million compared to €10.3 million for the same
period in 2020, while the Security and Retail business posted
revenue of €4.5 million compared to €5.1 million a year
earlier.
Benelux:
At the end of September 2021, revenue reached
€114.2 million, up 14.1% (+10.2% like for like).
Third-quarter revenue amounted to
€39.3 million, up +15.9% (+10.9% like for like).
The Telecom business, which grew purely
organically by 3.5%, generated quarterly revenue of
€28.8 million. The roll-out of ultra high-speed networks and
the contracts signed by the group in September will be contributing
to revenues from the fourth quarter.
Revenue from the Energy business amounted to
€6.6 million, compared with €1.2 million a year earlier.
This growth is driven by the deployment of smart meters in Flanders
on behalf of Fluvius and also by the group’s other business
segments, notably charging stations for electric vehicles and
renewable energy activities.
The IT business posted revenue of
€2.1 million compared to €2.6 million last year. The
Security and Retail business posted revenue of €1.8 million
compared to €2.3 million.
Other countries:
In all the Other countries, the group posted
revenue of €147.4 million at the end of September 2021,
representing growth of 28.2% (+14.6% like for like) compared to the
first nine months of 2020.
Third-quarter revenue was up by +27.0% (+12.5%
like for like) to €51.3 million.
In Germany, revenue amounted to
€15.1 million in the third quarter of 2021 compared to
€17.4 million in 2020 and does not reflect the potential of
the German market. The group is repositioning its organization to
better capture the forecasted growth, particularly in the telecom
market, both in the deployment of the fiber-optic network and in
the connection of subscribers.
In Italy, revenue doubled in the third quarter
of 2021 to €12.5 million, driven by the ramp-up of the
contract signed at the beginning of the year with TIM to deploy its
ultra-high-speed infrastructure in Piedmont and the Aosta
Valley.
In Spain, business grew organically by 29% to
€13.4 million, thanks to market share gains in mobile and
fixed networks.
In Poland, where the impact of delays in the
supply of certain materials required for call-outs is particularly
strong, the group posted revenue of €5.8 million, compared
with €6.4 million last year.
Finally, Solutions 30 posted revenue of
€4.6 million in the United Kingdom, where it has been
operating since December 2020. The group recently announced the
acquisition of Mono Consultants Ltd and is pursuing its development
strategy in this country where there is strong potential for growth
in the fixed and mobile networks sectors, as well as in the
activities related to the energy transition.
Solid growth prospects driven by
structurally positive market trends
The markets where the Group operates are at
different stages of maturity. In France, the market is in
transition and growth is now slowing down. Elsewhere in Europe, the
replication of the French model is proving successful and beginning
to materialize and growth remains robust. These trends have been
negatively impacted by supply chain disruptions. For the full year
2021, Solutions 30 now expects a profitable growth of around
+10%. Compared to 2019, this would equate to an average annual
growth of approximately +14.0%.
In the French market, the roll-out of the FTTH
network is continuing at a slower pace, and the rate of subscriber
connections—which peaked in the second half of 2020—has now
stabilized. At the same time, the maintenance market is growing as
the installation base increases. The group will now seek to grow by
gaining market share, as it did previously in ADSL. The roll-out of
smart meters is now coming to an end, and future growth will be
driven by activities related to electric mobility and renewable
energy.
In the Benelux, demand in all the group’s
markets is booming, whether in the field of fiber optics, smart
meters, electric mobility, or renewable energy. Revenue from this
region is expected to continue to grow steadily.
In other countries, fiber-optic markets are
beginning to open up in Italy, the United Kingdom, Germany, and
Poland. In Spain, where more than 70% of the country is now covered
by ultra-high-speed Internet, the group continues to expand
throughout the country and gain market share. These countries
should actively contribute to the group’s growth in the years to
come.
Confirming favorable long-term trends, sales
momentum remains excellent with more than €500 million in new
contracts signed during the second and third quarters of 2021.
These contracts confirm the confidence of the group’s customers,
both new and existing. They will increasingly contribute to revenue
in the coming quarters. With this solid pipeline of orders combined
with strengthened position in Europe, and the resumption of its
external growth policy, the group enjoys solid growth prospects in
the medium- and long term, driven by dynamic markets and the
development of new activities.
Upcoming event
2021 Annual
Revenue
January 26, 2022
About Solutions 30
SE
The Solutions 30 group is the European
leader in solutions for new technologies. Its mission is to make
the technological developments that are transforming our daily
lives accessible to everyone, individuals and businesses alike.
Yesterday, it was computers and the Internet. Today, it’s digital
technology. Tomorrow, it will be technologies that make the world
even more interconnected in real time. With more than
30 million call-outs carried out since it was founded and a
network of more than 15,700 local technicians, Solutions 30
currently covers all of France, Italy, Germany, the Netherlands,
Belgium, Luxembourg, the Iberian Peninsula, the United Kingdom, and
Poland. The share capital of Solutions 30 SE consists of
107,127,984 shares, equal to the number of theoretical votes
that can be exercised.Solutions 30 SE is listed on the
Euronext Paris exchange (ISIN FR0013379484- code S30). Indexes:
MSCI Europe ex-UK Small Cap | SBF 120 | CAC Mid 60 | NEXT 150
| CAC Technology | CAC PME. Visit our website for more information:
www.solutions30.com
Contact
Individual Shareholders:Investor Relations -
Tel: +33 1 86 86 00 63 - shareholders@solutions30.com
Analysts/Investors:Nathalie Boumendil - Tel: +33
6 85 82 41 95 - nathalie.boumendil@solutions30.com
Press - Image 7:Leslie Jung - Tel: +44 7818
641803 - ljung@image7.frCharlotte Le Barbier - Tel: +33 6 78 37 27
60 - clebarbier@image7.fr
Glossary
Organic
growth
Organic growth includes the organic growth of acquired companies
after they are acquired, which Solutions 30 assumes they would
not have experienced had they remained independent.
The group’s growth is detailed in the table
below:
|
First 9 months of 2020 |
|
First 9 months of 2021 |
|
|
Total |
|
Organic growth of existing subsidiaries |
Organic growth from acquired companies |
Acquisitions |
Total |
|
|
|
Value |
% |
Value |
% |
Value |
% |
Value |
Change |
Total |
578.8 |
|
54.0 |
9.3% |
1.1 |
0.2% |
19.6 |
3.4% |
653.5 |
12.9% |
From France |
363.7 |
|
28.1 |
7.7% |
- |
- |
- |
- |
391.8 |
7.7% |
From Benelux |
100.1 |
|
10.0 |
10.0% |
0.2 |
0.2% |
3.9 |
3.9% |
114.2 |
14.1% |
From
other countries |
115.0 |
|
15.9 |
13.8% |
0.9 |
0.7% |
15.7 |
13.7% |
147.5 |
28.2% |