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Rioz, 15 May 2017, before market opening
ABEO reports record Q4 revenue growth of 21%
ABEO, a designer of sports and leisure equipment, today announces Q4 2016/2017 revenue of €43 million, up a record 21%, including 16% organic growth. Revenue for the full financial year came in at €167 million, up 13% fuelled by buoyant demand abroad.
> Consolidated 2016/2017 revenue (year ended 31 March 2017) - unaudited
2016/2017 full-year revenue growth amounted to 12.6% and breaks down between 13.1% organic growth, 2.7% currency losses, primarily due to lower GBP and RMB exchange rates, and acquisitions accounting for 2.2% growth, which comprise Germany-based Erhard Sport on 11 November 2016, New Zealand-based Clip'n Climb International on 1 December 2016 and Sportsafe UK on 1 January 2017.
Throughout the financial year, the Group confirmed progress abroad with non-France revenue now accounting for 70% of total revenue, up from 66% in 2015/2016.
In terms of divisions, revenue was boosted by Sports and Climbing which grew 18.1% and 21.1% respectively. Sports revenue was buoyed by strong demand in the British and North American gymnastics markets and in Northern Europe with the delivery and equipping of complete sports halls. ABEO also posted growth in services and maintenance revenue. The Climbing division continues to benefit from a global boom in climbing walls and the rapid deployment of Clip'n Climb's innovative equipment. The Locker Rooms division, which was hit by postponed French customer purchase plans in the first half of the year, turned in 6% growth for the second half.
Record Q4 21% growth fuelled by higher order entry in Locker Rooms
Q4 2016/2017 sales momentum (15.9% organic growth) was very strong in the Group's three divisions, all of which turned in double-digit organic growth. Sports and Climbing continued to post strong international sales of sports equipment and services. Locker Rooms bounced back with 10.3% organic growth fuelled by growth abroad and the swimming pool segment.
Q4 growth of 20.7% breaks down between 15.9% organic growth, 1.4% currency losses and acquisitions accounting for 6.2% growth.
> Consolidated Q4 revenue (1 January to 31 March 2017) - unaudited
In view of the sharp growth in revenue, ABEO forecasts an increase in the 2016/2017 full-year operating profit margin (i.e. EBITDA as % of revenue) over 2015/2016.
Given ABEO's healthy order backlog, it will be able to sustain buoyant growth during 2017/2018.
ABEO will also benefit from integrating the recently acquired companies in the UK, Germany and New Zealand. The Group plans to continue rolling out its 2020 Strategic Plan while making further targeted acquisitions in Europe and Asia over the coming months.
6 June 2017 after market close FY 2016/2017 results
24 July 2017 after market close Q1 2017/2018 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 €167 million for the year ended 31 March 2017, 70% of which was generated outside France, and has around 1,150 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:
Investor relations – France Bentin [email protected] Tel: +33 (0)4 72 18 04 94
Press relations – Serena Boni [email protected] Tel: +33 (0)4 72 18 04 92