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ABEO, a world leader in sports and leisure equipment, today reports its revenues and order intake for the nine months ended 31 December 2018.
|Sportainment & Climbing||15.5||8.9||+74.0%||+18.5%|
|9-month revenues (31/12/2018)1||169.1||134.9||+25.3%||+4.2%|
|Sportainment & Climbing||36.7||27.1||+35.7%||+18.4%|
|9-month order intake (31/12/2018)3||170.4||143.5||+18.7%||+2.2%|
1 Revenue reflects the IFRS 15 first application as of 1 April 2018 and without any material impact on year-to-date and third-quarter revenue
2: refers to the change in revenue over a comparable period and at constant consolidation scope, excluding the impact of currency fluctuations.
3: 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 during the reporting period, as compared to the same period for the previous financial year.
Q3 revenue growth boosted by acquisitions
ABEO posted Q3 2018/19 (1 October to 31 December 2018) revenues of €59.1m, up 27.8% of which 25.1% was due to consolidation of recent acquisitions (Meta GmbH in November 2017, Cannice in January 2018, Bosan BV in March 2018 and Fun Spot in November 2018). The highlight of the third quarter was the acquisition of Fun Spot, a leading player in the booming Sportainment segment with major growth potential.
Like-for-like Group revenues were up 2.4%, fuelled largely by the Sportainment & Climbing division (up 18.5%). Currency gains for the quarter increased revenues by 0.2%.
As a result, ABEO reports revenues for the first nine months of 2018/19 of €169.1m, up 25.3% compared with the same period last year. Year-to-date 31 December 2018 organic growth was 4.2%, while acquisitions increased revenues by 21.4% and currency losses reduced revenues by 0.3%.
Sports division revenues soared 22.8% including 3.3% organic growth, despite a disrupted December at Gymnova due to the installation of a new ERP system.
The Changing Rooms division posted 22.5% revenue growth, buoyed by consolidation of Meta GmbH. Prospec's market repositioning initiated early in the financial year is beginning to pay off as borne out by 1.3% organic growth in Q3.
The Sportainment & Climbing division continued to surge and came in up 35.7% boosted by just 2-months consolidation of Fun Spot, while organic growth remained very high at 18.4%, reflecting the worldwide boom in sports climbing. The division enjoyed buoyant demand on European markets, particularly through business synergies with the Sport division.
Strategy and Outlook
Following the selection of Schelde Sports to supply basketball equipment, Spieth Gymnastics, a leading global manufacturer of gymnastics equipment, has been appointed equipment supplier for the artistic and rhythmic gymnastics events at the next summer Olympics. ABEO has a long history of involvement in international sports competitions via all its brands, and Tokyo 2020 will mark its 15th involvement in the Olympic Games since Melbourne 1956.
Year-to-date sales activities were very successful with €170.4m order intake, up 18.7% (2.2% organic growth, 16.8% external growth and a 0.3% currency loss).
The Group's sustained pace of growth coupled with promising order intake allow ABEO to consolidate its target of €300m1 revenue by 2020.
20 May 2019 before start of trading FY 2018/19 revenue
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 B.
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, comprises 7%p.a. organic growth and 12% p.a. M&A-based growth from 1 April 2016 to 31 March 2020 before currency gains/losses.