ABEO, a world leader in sports and leisure equipment today announces its revenue and order intake for the 2022/23 financial year (from 1 April 2022 to 31 March 2023).
|Sportainment & Climbing||11.6||13.2||-12.5%||-11.8%|
|Sportainment & Climbing||49.0||45.2||+8.4%||+4.6%|
|YTD order intake (31/03)2||238.6||222.5||+7.2%||+3.7%|
- : refers to the change in revenue over a comparable period and at constant consolidation scope, excluding the impact of currency fluctuations.
- : 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.
Record fourth quarter revenue of €65.6m, up 14.2%
ABEO delivered an excellent Q4 2022/23, with a total revenue of €65.6m, a sharp increase of 14.2%, including 12.2% organic growth compared to prior year. The integration of BigAirBag has generated a consolidation gain of 2.4% partially offset by an unfavourable currency impact of 0.4%.
The Sports division posted an excellent quarter with revenue of €36.7m, up significantly by 25.3% (up 20.7% like-for-like), confirming the sales momentum of this business line, particularly in North America for the Gymnastics segment.
The Sportainment & Climbing division, on the other hand, declined in the fourth quarter, due to a very challenging comparison base (Q4 2021/22 up 84%) and lengthening project negotiation timeframes in a highly competitive North American market. The adaptation of the offering is expected to bear fruits in the 2023/24 financial year. The European market remains well on track.
Finally, the Changing Rooms division's quarterly revenue grew substantially by 16.0% and continued to benefit from strong demand in France and Germany.
Overall, ABEO reported a revenue of €238.8m for the 2022/23 financial year, up 16.3% (up 12.6% like-for-like), in line with the objective of double-digit organic growth.
Trends and outlook
2022/23 business remained solid overall and generated an order intake of €238.6m, up 7.2% compared to the previous year.
Consequently, in view of the good level of activity achieved over the whole of 2022/23 and despite the persistence of inflationary pressures in the second half of the year, the Group expects to report an EBITDA level in line with the first half for the full year ended 31 March 2023. Furthermore, as announced, free cash-flow will improve significantly in the second half due to a return to a more normal level of working capital.
In the medium term, new partnerships signed for major sport events will benefit ABEO group and support the growth.
Spieth America was named for the first time Official Equipment Supplier to major US national and international competitions by USA Gymnastics.
In addition, as part of Paris 2024 Olympic Games, ABEO will be present in three disciplines through its brands and partnerships with the relevant international federations: Schelde Sports for the basketball events, Gymnova for the gymnastics events and EP for climbing.
Finally, the Changing Rooms division will equip the new Olympic aquatics centre in Saint-Denis with lockers and cubicles.
The Group's expertise, perfectly tailored to highly demanding competitions in terms of both quality and installation, has been recognised once again.
6 June 2023 after close of trading: Full-year 2022/23 results
Find more at www.abeo-bourse.com
|ABEO is a major player in the sports and leisure market. The Group posted turnover of € 238.8 million for the year ended 31 March 2023, 74% of which was generated outside France, and has 1,446 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.
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 Consolidated on 01/06/2022