Actusnews Wire - Professional broadcaster of corporate and regulated information, authorised by the AMF and the CSSF.

  ABEO company press release from 23/07/2019

  23/07/2019 - 07:30

ABEO Q1 2019/20: business growth of 14%


Cooperation agreement between ABEO and Swiss Timing (Swatch Group)

Spieth America and Simone Biles renew their sponsorship agreement

ABEO, a world leader in sports and leisure equipment, today announces its revenue and order intake for the first quarter of its 2019/20 financial year (from 1 April to 30 June 2019).

€m
Unaudited
2019/2020 2018/2019 Change Change
(LFL1)
Sports 28.0 26.1 +7.5% +7.2%
Sportainment & Climbing 16.1 10.4 +54.0% -2.9%
Changing rooms 15.9 16.1 -1.1% -1.1%
Q1 revenue 60.0 52.6 +14.1% +2.6%
         
Q12 order intake 65.6 64.2 +2.2% -8.5%
  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 growth up 14.1%

During the first quarter, the Sports Division posted organic growth of 7.2% (up 7.5% after currency impacts) primarily driven by the gymnastics business in Europe.

The Sportainment & Climbing division fully benefited from the recent integration of Fun Spot (acquired in November 2018) and posted sales growth of 54.0%. However, the division's activity was affected by the closing of a Spanish centre generating losses and a temporary drop in the Benelux activity (down 2.9% like-for-like).

The Changing Room division's revenues were down slightly by 1.1%, however in line with expectations for the first quarter.

Accordingly, ABEO's revenue for Q1 2019/20 amounted to €60.0 million, up 14.1%, primarily driven by external growth of 11.2% thanks to the contribution of Fun Spot in the United States. First quarter 2019 revenues were therefore up 2.6% like-for-like (non-material currency effect), confirming a business turnaround after the slowdown witnessed at the end of the previous financial year.

Meanwhile, first quarter 2019/20 order intake amounted to €65.6m, up 2.2% (down 8.5% like-for-like), impacted by the Group's record order intake at the beginning of the previous financial year (up 36.1%, including 19.7% like-for-like) which proved hard to beat.

In an irregular activity from one quarter to the next, ABEO is confident in its development strategy, aiming to reach €300m3 in revenues in March 2020, by combining organic growth and target acquisitions during the fiscal year.


ABEO and Swiss Timing sign a cooperation agreement for the TOKYO Olympic Games

ABEO and Swiss Timing have signed a cooperation agreement in order to integrate:

  • new technologies in gymnastics equipment that provide spectators and gymnasts information about their performance;
  • Tissot Shot Clock device in basketball backstops.

Swiss Timing is a Swatch Group company which provides timekeeping and displays for the world's largest sporting competitions. The company will partner the International Olympic Committee until 2032.


Spieth America and Simone Biles, five-time Olympic medallist, have extended their contract until 2028

Simone Biles, the all-time most successful US gymnast across all competitions, has represented Spieth America for the last three years, which has largely contributed to the Group's growth in the United States.

Spieth America's equipment is the most innovative in the world. It lets me train harder and recover faster” stated Simone Biles.



>>>>>>>>>>>>>>>>>>>>>

  • Next releases

18 November 2019 before start of trading H1 2019/20 revenue

12 December 2019 before start of trading H1 2019/20 results and presentation meeting (Paris)

Find out more at www.abeo-bourse.com


ABOUT ABEO
ABEO is a major player in the sports and leisure (“sportainment”) market. The Group posted revenue of €230.4 million for the year ended 31 March 2019, 77% of which was generated outside France. At year-end it had over 1,700 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 B.


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

3 This target, which was set at the time of the 2016 IPO, aims at annual organic growth of 7% and external growth of 12% between 1 April 2016 and 31 March 2020, without accounting for potential future currency effects.