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  ABEO company press release from 24/07/2018

  24/07/2018 - 18:00

ABEO: Strong growth of 18.5% in Q1 2018/19 - Record order intake level for the quarter: +36.1%


ABEO, a world leader in the sports and leisure equipment design market, is announcing its revenue and order intake for the first quarter of its 2018/19 financial year (from 1 April to 30 June 2018).

€m
Unaudited
2018/2019 2017/2018 Change Change
(LFL1)
Sports 26.1 22.5 +15.7% -3.5%
Climbing 10.4 9.3 +12.4% +14.7%
Changing rooms 16.1 12.5 +28.1% -4.1%
Q1 revenue 52.6 44.4 +18.5% +0.1%
         
Q12 order intake 64.2 47.2 +36.1% +19.7%

1: refers to the change in revenue over a comparable period and at constant consolidation scope, excluding the impact of currency fluctuations.

2: non-financial data – to measure the sales momentum of its business activities, the Group uses the quantified amount of its order intake over a given period, inter alia. The sales momentum indicator represents the aggregate value of all of the orders booked over the period referred to, as compared to the same period for the previous financial year.

Business volumes were driven by external growth and a record order intake

During Q1 2018/19, the Sports Division and the Changing Rooms Division reaped the full benefit of recent acquisitions (Meta GmbH in November 2017, Cannice in January 2018, and Bosan BV in March 2018), and report respective growth rates of 15.7% and 28.1%.

The Climbing Division continues its positive trend with like-for-like growth of 14.7%, still benefiting from the worldwide boom in sports climbing.

Accordingly, ABEO's revenue for Q1 2018/19 amounted to €52.6 million, up 18.5%, driven by the 19.5% contribution made by the change in consolidation scope (consolidation of the three companies listed above). The like-for-like change in revenue at 30 June 2018 is 0.1%, while the adverse currency effect is 1.1%.

At the same time, sales volumes during the beginning of the year were particularly strong at the three divisions, and included an order intake amounting to €64.2 million, a sharp increase of 36.1% for Q1 2018/19. In particular, the order intake's like-for-like growth rate reached a record level of 19.7% (currency effect of -1.4%), compared with Q1 2017/18.

ABEO has observed that projects are taking more time to reach maturity, as is the process for launching projects and supplying equipment. This factor explains the time lag between the like-for-like increase in revenue and the like-for-like increase in the order intake.

During the quarter, just as with Entre-Prises, which was selected for climbing walls, Spieth Gymnastics and Schelde Sport were selected to supply the Youth Olympic Games, to be held in Buenos Aires from 6-8 October 2018.

Furthermore, Spieth Gymnastics will supply the competition floors for the World Rhythmic Gymnastics Championships in Sofia (Bulgaria) from 10-16 September 2018.

And finally, Janssen Fritsen, Spieth Gymnastics, and Gymnova have adjusted and extended their existing agreements with the European Union of Gymnastics (UEG) until 2024, as official apparatus suppliers, in order to consolidate this partnership over the long term.

ABEO is confident in its development and is increasingly sure of reaching its revenue target of €300 million3 by March 2020, driven by combined organic growth and targeted acquisitions.

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Find out more at www.abeo-bourse.com

 
ABOUT ABEO
ABEO is a major player in the sports and leisure (“sportainment”) market. The Group posted revenue of €187.9 million for the year ended 31 March 2018, 71% of which was generated outside France. At year-end it had 1,600 employees.
ABEO is a designer, manufacturer and distributor of sports and leisure equipment. It also provides assistance in implementing projects to professional customers in the following sectors: specialised sports halls and clubs, leisure centres, education, local authorities, construction professionals, etc.
ABEO has a unique global offering, and operates in a wide variety of market segments, including gymnastics apparatus and landing mats, team sports equipment, physical education, climbing walls, leisure equipment and changing room fittings. The Group has a portfolio of strong brands which partner sports federations and are featured at major sporting events, including the Olympic Games.
 
ABEO (ISIN code: FR0013185857, ABEO) is listed on Euronext Paris – Compartment B.

Contacts

For any questions relating to this press release or the ABEO Group, please contact ACTUS finance & communication:

Investor relations – Corinne Puissant investor@beo.fr Tel: +33 (0)1 53 67 36 77

Press relations – Serena Boni presse@beo.fr Tel: +33 (0)4 72 18 04 92

3 This target, which was set at the time of the 2016 IPO, aims at annual organic growth of 7% and external growth of 12% between 1 April 2016 and 31 March 2020, without accounting for potential future currency effects.