ABEO: health crisis continues to impact Q3 business activity   (08/02/2021 07:30)

Renewed confidence in operating performance resilience

ABEO, a world leader in sports and leisure equipment, today announces its revenue and order intake for the nine months of its 2020/21 financial year ended 31 December 2020.

€m
Unaudited
2020/2021 2019/2020 Change Change (LFL)1
Q3 revenue 46.2 59.8 -22.8% -21.8%
Sports 23.5 29.4 -20.2% -19.5%
Sportainment & Climbing 8.3 14.8 -43.9% -41.6%
Changing Rooms 14.4 15.7 -7.9% -7.4%
9-month revenues 130.0 181.7 -28.5% -27.9%
Sports 61.9 86.1 -28.1% -27.8%
Sportainment & Climbing 28.6 46.6 -38.6% -37.3%
Changing Rooms 39.4 49.0 -19.4% -19.2%
         
YTD order intake (31/12)2 126.1 183.3 -31.2% -30.8%
  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.


Continued recovery in the Sports and Changing Rooms divisions

ABEO posted Q3 2020/21 revenues of €46.2m, down 22.8% (-21.8% at constant exchange rates) compared to Q3 2019/20. During this period, the Group continued to operate under adverse market conditions due to the tightening of lockdown measures. Nonetheless, ABEO quickly adapted its organization to generate revenues almost similar to those of the previous quarter (€49.0m) and well above Q1 revenues (€34.8m).

Sports division revenues rose €1m compared to the previous quarter, with positive momentum in gymnastics, which declined sharply at the start of the financial year.

The Sportainment & Climbing division continues to suffer the worst consequences of the health crisis, exacerbated by the new lockdowns introduced during the quarter. In the United States, business was hit hard by the threefold health, economic and political crisis.

The Changing Rooms division continued to recover and posted growth in December in France and Germany.

Accordingly, ABEO posted revenues of €130m for the first nine months of 2020/21, down 28.5% year-on-year (-27.9% at constant exchange rates).


Trends and outlook

Nine-month order intake at 31 December 2020 amounted to €126.1m, down 31.2% (-30.8% at constant exchange rates) from the previous year as a consequence of the pandemic shock. Q3 order intake remained similar to the Q2 performance (-25%), with a sharp upswing in the Sports and Changing Rooms divisions.

In view of the uncertainty surrounding the development of the pandemic, visibility over a return to normal business remains poor and ABEO is pursuing the roll-out of its performance plan in order to safeguard profitability and optimise cash generation without jeopardising its ability to recover.

The resilient H1 2020/21 operating performance (recurring EBITDA margin of 9.8%) renews the Group's confidence in achieving its target to lower significantly the operating breakeven point.

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17 May 2021 after close of trading 2020/21 annual revenue

Find out more at www.abeo-bourse.com

 
ABOUT ABEO
ABEO is a major player in the sports and leisure market. The Group posted turnover of € 235.7 million for the year ended 31 March 2020, 74% of which was generated outside France, and has 1,677 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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