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  ABEO company press release from 06/02/2024

  06/02/2024 - 18:00

ABEO continues to grow strongly, posting Q3 organic growth of 10.6% and cumulative order intake of EUR 186.0m at 31/12/2023


ABEO, a leading global supplier of sports and leisure equipment, Official Supporter of the Paris 2024 Olympic and Paralympic Games, today announces its revenue and order intake for the first nine months of its 2023/24 financial year ended 31 December 2023.

€m
Unaudited
2023/2024 2022/2023 Change Change
LFL1
Q3 revenue 60.9 55.4 +10.0% +10.6%
Sports 34.4 29.6 +16.2% +16.8%
Sportainment & Climbing 11.5 10.5 +9.5% +11.1%
Changing Rooms 15.1 15.3 -1.6% -1.7%
9-month revenue 184.4 173.2 +6.5% +7.0%
Sports 98.6 87.5 +12.7% +12.9%
Sportainment & Climbing 36.8 37.3 -1.4% +0.5%
Changing Rooms 49.0 48.4 +1.3% +1.3%
         
YTD order intake 31/122 186.0 176.7 +5.3% +6.0%
  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.


Third quarter growth upswing

ABEO posted a strong 2023/24 third quarter, generating revenue of €60.9m, up 10.6% like-for-like (up 10.0% as reported) versus 2022/23 third quarter. A negative FX impact of 0.6% has been recorded due to the depreciation of the US dollar.

The Sports division recorded brisk sales, generating strong organic growth of 16.8% in the third quarter (up 16.2% as reported). Gymnastics recorded sustained business in Europe and North America, thus confirming the division's ability to seize the opportunities arising from the Paris 2024 Olympic and Paralympic Games and the new partnership with the American gymnastics federation (USA Gymnastics).

Sportainment & Climbing division revenue rose 11.1% like-for-like to €11.5m (up 9.5% as reported) compared to the same period last year. This performance was mainly driven by sustained growth in core businesses in Europe and the USA.

Lastly, in a sluggish economic environment, the Changing Rooms division recorded a slight slowdown in 2023/24 third quarter sales (down 1.7% like-for-like and down 1.6% as reported), without undermining the expected growth over the full 2023/24 financial year.

Following this quarterly performance, 2023/24 nine-month revenue came to €184.4m, up 7.0% like-for-like (up 6.5% as reported) versus the previous year.


Trends and outlook

As the global economy begins to show signs of a slowdown, year-to-date sales at 31 December 2023 remain healthy, with order intake at €186.0m, up 6.0% like-for-like versus 31 December 2022 (up 5.3% as reported).

As such, given the uncertainty hanging over the economic environment and the recovery of some Group markets, ABEO is cautiously expecting less sustained growth for the fourth quarter of 2023/24.

Lastly, Gymnova, the Group's market-leading gymnastics brand, will supply all competition equipment for the Cairo World Cup scheduled for 15-18 February 2024. This is the first qualifying competition of the year for the Paris 2024 Olympics.

With only 171 days to go before the Paris 2024 Olympic and Paralympic Games, ABEO's teams are more committed than ever to contributing the best of the Group's expertise in gymnastics, basketball and climbing equipment in order to ensure the success of the competition on home territory and support the athletes in their quest for excellence.


Next releases

14 May 2024 – 2023/24 revenue (after close of trading)

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 € 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.


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


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  Original Source: ABEO