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ABEO, a designer of sports and leisure equipment, today announces like-for-like revenue growth of 14.3% in Q3 2016/2017. Sales momentum in the Sports and Climbing divisions remained brisk and improved in the Locker Rooms division, which returned to growth in the third quarter after a slight decline during the first half.
ABEO's consolidated revenue for the 9 months ended 31 December 2016 was up 10.0%, while organic growth was 12.2%, impacted by a 3.1% currency loss mainly due to the weakening of the British pound and Chinese yuan and a 0.9% gain on acquisitions.1
International roll-out drives growth
The Group continues to step up its international growth: over the first nine months, sales generated outside France accounted for 69% of total revenue, compared with 66% during the 2015/2016 financial year.
Business has surged since the beginning of the year in the Climbing and Sports divisions, 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 fun climbing technology. During the third quarter, ABEO opened the Netherlands' first Clip'n Climb centre in Amsterdam, making it the 100th centre equipped by the Group. In the Sports division, sales were particularly strong in the UK, North American and North European markets.
Lastly, after the slight decline observed in the first half, the Locker Room division posted organic growth of 1.5% in the third quarter, thanks to growth in international markets and in the swimming pool segment.
Continued development of brand portfolio
ABEO has always been backed by a portfolio of strong sports brands in its bid to step up its expansion. The reputation of the Group's well-established brands is largely upheld by its presence at local, national and international sports competitions. Some of the major events for 2017 will involve Spieth Gymnastics, which has been named the official supplier for the European Artistic Gymnastics Championships in Romania in April 2017, Gymnova, which will equip the World Gymnastics Championships set to take place in Montreal, Canada in October 2017, and Schelde Sport, which will supply the basketball backstops for the FIBA 3x3 World Cup and World Tour to be held in a number of countries including France in 2017.
Meanwhile, the Group has launched initiatives aimed at revitalising the brands of recently acquired companies, such as Sanitec in the locker room sector (acquired mid-2015) and Erhard Sport in the German sports sector (acquired late 2016). Actions undertaken include reviewing sales offerings, revamping catalogues, modernising production facilities and reviving brands through advertising expenditure. These actions are expected to bear fruit as of next year.
ABEO has a healthy order backlog for the end of the 2016/2017 financial year and intends to continue developing its business at a steady rate over the coming months.
Lastly, in line with its 2020 strategic plan to combine organic growth and targeted acquisitions, negotiations continue for the acquisition of a company to be incorporated into the Group's Sports division in Asia.
15 May 2017 before market opening FY 2016/2017 revenue
6 June 2017 after market close FY 2016/2017 results
Translation for information purposes only. In case of discrepancy between the French and English versions, the French version shall prevail.
Read more at www.abeo-bourse.com
|ABEO is a major player in the sports and leisure (“sportainment”) market. The Group posted revenue 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.
ABEO (ISIN code: FR0011950682, ABEO) is listed on Euronext Paris - Compartment C.
For any questions relating to this press release or the ABEO Group, please contact ACTUS finance & communication:
1 Full consolidation of Erhard Sport in Germany on 11 November 2016 and Clip'n Climb International in New Zealand on 1 December 2016