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  ABEO company press release from 17/05/2021

  17/05/2021 - 18:00

Uptrend continues in ABEO's Sports and Changing Room divisions in Q4 2020/21


ABEO, a world leader in spots and leisure equipment today announces its revenue and order intake for the financial year ended 31 March 2021 (12 months).

€m
Unaudited
2020/2021 2019/2020 Change Change
LFL1
Q4 revenue 44.0 54.0 -18.5% -17.6%
Sports 23.5 26.0 -9.6% -9.1%
Sportainment & Climbing 7.3 14.9 -50.7% -48.6%
Changing rooms 13.2 13.1 +0.4% +0.6%
Revenue for year ended 31/03 174.0 235.7 -26.2% -25.6%
Sports 85.4 112.1 -23.8% -23.4%
Sportainment & Climbing 36.0 61.5 -41.5% -40.1%
Changing rooms 52.6 62.1 -15.2% -15.0%
         
YTD order intake (31/03)2 171.0 242.0 -29.3% -28.8%
  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.


Steady uptrend in the Sports and Changing Room divisions throughout the financial year

ABEO posted Q4 2020/21 revenue of €44.0m, down 18.5% compared to Q4 2019/20, which had already suffered from the impact of the COVID pandemic. During Q4 2020/21, ongoing restrictive measures in Europe (UK, Germany and France) and the United States continued to curb Group's business. In spite of this, the upturn continued in the Sports and Changing Room divisions.

Sports division revenue continued to recover, down only 9.6% in Q4 after Q3 down 20.2% and Q1 down 32.2%. The sharp Q4 improvement was driven by growth in Benelux sales and the gradual recovery of the gymnastics business.

The Sportainment & Climbing division continued to suffer from the impacts of the pandemic, being hampered by the new restrictions introduced during Q4, particularly in France and the UK, and with no perceptible signs of recovery on the division's US markets as of 31 March 2021.

The Changing Room division continues to recover, posting Q4 revenue up 0.4%.

While the unprecedented health crisis has impacted all Group markets, with sports and leisure facilities closed for most of the year, ABEO showed proof of resilience and its ability to adapt rapidly. With revenue of €174.0m for the full 2020/21 financial year, the fall in sales was limited to 26.2% (-25.6% at constant exchange rates).


Trends and outlook

Order intake for the 2020/21 financial year totalled €171.0m, down 29.3%. Q4 2020/21 order intake was boosted by a distinct recovery in the Sports and Changing Room divisions, enabling the Group to post a healthy order backlog at the 31 March closing date.

ABEO continued to implement measures to safeguard profitability, improve cash generation and maintain a healthy financial structure. Through these measures the Group has kept its target of significantly lowering the operating breakeven point right up to the 31 March 2021 year-end. ABEO expresses renewed confidence in its ability to take full advantage of the expected recoveries on all its markets, with the phased reopening of sports and leisure facilities in most of the Group's operating countries.


Next release

9 June 2021 after close of trading : Full-year 2020/21 results

Find more at www.abeo-bourse.com

 
ABOUT ABEO
ABEO is a major player in the sports and leisure market. The Group posted turnover of € 174 million for the year ended 31 March 2021, 73% of which was generated outside France, and has 1,339 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