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ABEO, a world leader in sports and leisure equipment, today announces its revenue and order intake for the first half of its 2020/21 financial year (from 1 April to 30 September 2020).
|Sportainment & Climbing||11.7||15.8||-26.1%||-24.0%|
|Sportainment & Climbing||20.4||31.9||-36.1%||-35.4%|
|YTD order intake (30/09)2||83.1||125.8||-34.0%||-33.7%|
The Group posted first half consolidated revenue of €83.8m, down 31.2%. ABEO posted Q2 2020/21 revenue of €49.0m, down 20.8% (down 20.1% like-for-like) versus the same period last year. Despite the ongoing impact of COVID-19, Q2 2020/21 revenues rose sharply (41%) versus Q1.
Since summer and the progressive easing of lockdown measures, the Group has seen a gradual recovery across all of its divisions marked by a stronger momentum in Changing Rooms and the Sports division's gymnastics segment. Meanwhile, the Sportainment & Climbing division continues to be harder hit by the current health crisis.
Business contracted more severely in some countries such as the USA, where the market slackened in view of the health crisis and presidential election but remained buoyant in other regions including Benelux and Germany.
Trends and outlook
H1 2020/21 order intake totalled €83.1m, down 34%. Q2 order intake improved versus Q1, thereby confirming customers' unflagging trust in the Group and ABEO's leadership in its markets. The order book remains healthy under the present circumstance, with only marginal cancellations since the beginning of the crisis.
First half business was impacted as could be expected by the health crisis. Given the unprecedented global situation, the performance plan (including reducing overheads and lowering the breakeven point) was rolled out as announced in order to protect the Group's profitability. In addition, ABEO's financial situation remains satisfactory and under control.
Amid ongoing uncertainty fuelled by further lockdown measures introduced in France and in Europe, the evolution of business over the coming months remains difficult to estimate. ABEO is continuing its endeavours to reduce its cost base and optimise its organisational structure without altering its ability to bounce back. The Group is making every effort to pursue its value-creating development with ambition.
9 December 2020 after close of trading 2020/21 H1 results
Find out more at www.abeo-bourse.com
|ABEO is a major player in the sports and leisure market. The Group posted turnover of € 235.7 million for the year ended 31 March 2020, 74% of which was generated outside France, and has 1,677 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