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  ABEO company press release from 08/11/2022

  08/11/2022 - 18:00

ABEO: H1 2022/23 revenue up 23.2% to EUR 117.8m - Solid H1 order intake of EUR 113.8m


ABEO, a world leader in sports and leisure equipment, today announces its revenue and order intake for the first half of its 2022/23 financial year (from 1 April to 30 September 2022).

€m
Unaudited
2022/2023 2021/2022 Change Change
LFL1
Q2 revenue 61.8 51.7 +19.5% +13.0%
Sports 32.5 24.8 +30.9% +20.8%
Sportainment & Climbing 12.7 11.2 +12.9% +5.1%
Changing Rooms 16.6 15.7 +6.2% +6.3%
H1 revenue 117.8 95.6 +23.2% +17.6%
Sports 57.8 45.1 +28.2% +20.4%
Sportainment & Climbing 26.9 20.0 +34.1% +25.3%
Changing Rooms 33.1 30.5 +8.6% +8.5%
         
YTD order intake 30/092 113.8 104.4 +9.0% +4.3%
  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.


Continued growth in Q2 2022/23

ABEO continued to perform strongly in Q2 2022/23, posting revenue of €61.8m, up 19.5%, including a 3.6% consolidation gain linked to the recent acquisitions of Eurogym[1] and BigAirBag[2] and a favourable currency effect of 2.9% (appreciation of the US dollar).

All three divisions continued to drive organic growth in Q2 2022/23, which remained sustained at 13.0% despite the persisting slowdown in Asia due to Covid restrictions.

The Sports division continued to surge, posting revenue up 30.9% (20.8% like-for-like) to €32.5m, bolstered by the Gymnastics business in North America, where the Group is expanding its market share. The integration of BigAirBag is proceeding as planned, with industrial and commercial synergies being implemented in the Gymnastics, Sportainment and Climbing businesses.

The Sportainment & Climbing division posted a strong quarter with revenue of €12.7m, up 12.9% (5.1% like-for-like). Business was driven by the recovery in the US Sportainment market as core businesses stayed well on track, apart from the Asian market.

Lastly, the Changing Rooms division remained buoyant, posting revenue of €16.6m, up 6.2% for the quarter.

Accordingly, ABEO posted H1 2022/23 revenue of €117.8m, up 23.2% compared to the same period last year and in line with Group expectations. For the period, organic growth came to 17.6%, the consolidation gain was at 2.7% (Eurogym and BigAirBag) and the currency effect was favourable at 2.9%.


Trends and outlook

Against a less prosperous global economic backdrop marked by uncertainties in the world economy stemming from geopolitical tensions, ABEO posted solid order intake of €113.8m for H1 2022/23, up 9.0% (including 4.3% organic growth, 2.7% from acquisitions and 2.1% in currency gains).

In light of this strong performance, ABEO is confident in its ability to post double-digit organic growth again this year, while remaining vigilant with regards to inflationary pressure, which must be handled using the right balance between volume and operating performance.


Next release

6 December 2022 after close of trading H1 2022/23 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 € 205.3 million for the year ended 31 March 2022, 74% of which was generated outside France, and has 1,413 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 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


[1] Consolidated on 01/11/2021

[2] Consolidated on 01/06/2022


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  Original Source: ABEO