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ABEO, a designer of sports and leisure equipment, posted revenue of €82.3 million for the first half of the 2016/2017 financial year, up 11.1% like for like.
The Group's unique global positioning on the sports and leisure equipment market and proactive international growth strategy have enabled it to drive its growth at a steady rate. Thanks to the IPO carried out on Euronext last October, which raised funds of €22.2 million, the Company now has the means to achieve its goal of doubling revenue by 2020.
Reported first half revenue rose 9.1%, while organic growth amounted to 11.1%, impacted by a 2.9% currency loss, mainly due to the weakening of the British pound and Chinese yuan, and a 0.9% external growth.
Business was particularly strong in the climbing and sports sectors, which posted double-digit growth driven primarily by international markets. The climbing division benefited from the global boom in sports climbing facilities and the swift roll-out of its innovative new Clip'n Climb concept. In the sports division, growth was particularly strong in the UK and North European markets. In the locker room sector, international markets are buoyant, although France revenue for the period was slightly impacted by the deferral of some projects until the second half.
The Group continued to step up its international growth during the first half: revenue generated outside France currently accounts for 68% of total revenue, compared to 66% last year.
The Group contributed to a number of major international events during the period, notably the Olympic Games held in Rio.
The Group's healthy order backlog will enable it to continue its sustained growth during the second half of 2016/2017.
In accordance with its 2020 strategic plan, which combines organic growth with targeted acquisitions, the Group will also continue exclusive negotiations to acquire three companies for the sports division, including two in Europe and one in Asia, which will bring in additional revenue of around €20 million. ABEO confirms that these acquisitions could be closed by the end of the financial year (31 March 2017), subject to the findings of the due diligence procedures currently underway.
Tuesday 6 December 2016 after close of trading H1 2016/2017 results
Read more at www.abeo-bourse.com
|ABEO is a major player in the sports and leisure (“sportainment”) market. The Group posted turnover of €148 million for the year ended 31 March 2016, 66% of which was generated outside France, and has around 1,000 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 locker 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.
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