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On course to achieve revenue target of €300m1 by March 2020
ABEO, a world leader in sports and leisure equipment, today announces its revenue for the fourth quarter of 2017/18.
|Revenue for year ended 31/03||187.9||167.1||+12.4%||+2.8%|
* Change in revenue over a comparable period and at constant consolidation scope, excluding the impact of currency movements.
ABEO recorded a robust fourth quarter 2017/18 marked by sustained business momentum and revenue of €52.9m, up 24% including 8.5% organic growth, a 17.3% consolidation gain (acquisitions including Meta GmbH in November 2017, Cannice (Shandong Kangnas Sports Co) in January 2018 and Bosan BV in March 2018) and a 1.7% currency loss.
The Sports division posted strong organic growth of 16.9%, confirming the buoyancy of this business line and partly reflecting the postponement of some deliveries from Q3. The Climbing division continues to benefit from the worldwide boom in sports climbing and the deployment of Clip'n Climb's innovative equipment. The division posted organic growth of 11.8%. The Changing Rooms division posted 20.6% growth, mainly driven by the 3-month consolidation of Meta and despite the postponement of projects in the French and UK markets largely reflected in the negative organic growth of 11.6%.
As a result, ABEO posted total revenue of €187.9m for the 2017/18 financial year, up 12.4% from the previous year. Organic growth for the year came to 2.8%, thus consolidating the exceptional 13.1% growth achieved in the previous year, coupled with an 11.1% consolidation gain related to recent acquisitions.
Allowing for full-year consolidation of the acquisitions made during the year, revenue would have come close to €215m2, confirming that the Group is well on course to achieve the 2020 plan.
Lastly, due in large part to the depreciation of the British pound, the currency effect is unfavourable (-1.4%).
Order intake during the 2017/18 financial year amounted to €195.4m, up 14% (4.4% organic growth, 11% external growth, 1.4% currency loss) over FY 2016/17, demonstrating a solid influx of new business.
Encouraged by sustained growth in 2017/18, ABEO expects to see a further rise in its operating profit margins.
Confident in its development, ABEO is increasingly sure of achieving its target of generating revenue of €300m1 by March 2020 driven by combined organic growth and targeted acquisitions.
7 June 2018 before market close Full-year 2017/18 results
Find out more at www.abeo-bourse.com
|ABEO is a major player in the sports and leisure (“sportainment”) market. The Group posted revenue of €187.9 million for the year ended 31 March 2018, 71% of which was generated outside France. At year-end it had 1,600 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.
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
1 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.