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  ABEO company press release from 16/11/2020

  16/11/2020 - 07:30

ABEO achieves a gradual recovery in Q2 2020/21


ABEO, a world leader in sports and leisure equipment, today announces its revenue and order intake for the first half of its 2020/21 financial year (from 1 April to 30 September 2020).

€m
Unaudited
2020/2021 2019/2020 Change Change (LFL)1
Q2 revenue 49.0 61.9 -20.8% -20.1%
Sports 22.5 28.7 -21.4% -21.1%
Sportainment & Climbing 11.7 15.8 -26.1% -24.0%
Changing Rooms 14.8 17.4 -14.9% -14.8%
H1 revenue 83.8 121.9 -31.2% -31.0%
Sports 38.4 56.7 -32.2% -32.1%
Sportainment & Climbing 20.4 31.9 -36.1% -35.4%
Changing Rooms 25.0 33.3 -24.9% -24.8%
         
YTD order intake (30/09)2 83.1 125.8 -34.0% -33.7%
  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 orders booked over the relevant period, as compared to the same period for the previous financial year.


Business momentum

The Group posted first half consolidated revenue of €83.8m, down 31.2%. ABEO posted Q2 2020/21 revenue of €49.0m, down 20.8% (down 20.1% like-for-like) versus the same period last year. Despite the ongoing impact of COVID-19, Q2 2020/21 revenues rose sharply (41%) versus Q1.

Since summer and the progressive easing of lockdown measures, the Group has seen a gradual recovery across all of its divisions marked by a stronger momentum in Changing Rooms and the Sports division's gymnastics segment. Meanwhile, the Sportainment & Climbing division continues to be harder hit by the current health crisis.

Business contracted more severely in some countries such as the USA, where the market slackened in view of the health crisis and presidential election but remained buoyant in other regions including Benelux and Germany. 


Trends and outlook

H1 2020/21 order intake totalled €83.1m, down 34%. Q2 order intake improved versus Q1, thereby confirming customers' unflagging trust in the Group and ABEO's leadership in its markets. The order book remains healthy under the present circumstance, with only marginal cancellations since the beginning of the crisis. 

First half business was impacted as could be expected by the health crisis. Given the unprecedented global situation, the performance plan (including reducing overheads and lowering the breakeven point) was rolled out as announced in order to protect the Group's profitability. In addition, ABEO's financial situation remains satisfactory and under control.

Amid ongoing uncertainty fuelled by further lockdown measures introduced in France and in Europe, the evolution of business over the coming months remains difficult to estimate. ABEO is continuing its endeavours to reduce its cost base and optimise its organisational structure without altering its ability to bounce back. The Group is making every effort to pursue its value-creating development with ambition.

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9 December 2020 after close of trading 2020/21 H1 results

Find out more at www.abeo-bourse.com

 
ABOUT ABEO
ABEO is a major player in the sports and leisure market. The Group posted turnover of € 235.7 million for the year ended 31 March 2020, 74% of which was generated outside France, and has 1,677 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 C.

Contacts

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

Investor relations – Corinne Puissant [email protected] Tel: +33 (0)1 53 67 36 77

Press relations – Serena Boni [email protected] Tel: +33 (0)4 72 18 04 92


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  Original Source: ABEO