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Q3 revenue up 13% penalized by strong pressure on the value chain
Brisk sales momentum: 9-month order intake up 30%
ABEO, a world leader in sports and leisure equipment, today announces its revenue and order intake for the third quarter of its 2021/22 financial year (from 1 October to 31 December 2021).
|Sportainment & Climbing||11.9||8.3||+43.6%||+40.2%|
|Sportainment & Climbing||31.9||28.6||+11.6%||+10.9%|
|YTD order intake (31/12)2||163.6||126.1||+29.7%||+28.8%|
ABEO posted Q3 2021/22 revenue of €52.2m, up 13.1% including 1.7% from the consolidation of Eurogym (2 months). Organic growth remained strong at 10.0% despite the ongoing impact of the health crisis. In an upturn activity momentum, ABEO sustained strong pressure on its value chain and production units resulting in delivery delays. Currency gains for the third quarter increased revenues by 1.5%.
The Sports division posted its best quarterly performance since the start of the health crisis in terms of volumes at constant consolidation scope, with revenue up 16.2% to €27.3m (up 11.7% like-for-like). Growth was driven by the ongoing recovery of the gymnastics business, a sharp upswing in the Benelux region and the successful integration of Eurogym.
The Sportainment & Climbing division continued its ascension by posting record revenue since the start of the health crisis, up 43.6% versus Q3 2020/21. The recovery trend seen in Q2 was confirmed in the core business segments, as well as in the US sportainment market.
Meanwhile, the Changing Rooms division posted quarterly revenue down 9.4% due to a challenging comparison base. Q4 2021/22 revenue will be boosted by the strong sales momentum achieved by the division.
For the first nine months of 2021/22, ABEO posted revenue of €147.9m, up 13.8% year-on-year. Organic growth for the period came to 12.5%, while the consolidation of Eurogym and currency gains contributed 0.6% and 0.7% respectively.
Order intake was strong during the third quarter of 2021/22, returning to pre-crisis levels. Furthermore, business momentum has been robust across all divisions since the beginning of the financial year, resulting in total order intake of €163.6m during the nine months ended 31 December 2021, up sharply by 29.7% following a third quarter upswing.
On the strength of its growth rate since the start of the financial year coupled with a high level of order intake, ABEO moves forward with renewed confidence in its ability to maintain strong business momentum and a solid operating performance.
SPIETH America to supply The World Games 2022 in the USA
SPIETH America, a major supplier of gymnastics equipment, has been appointed the official gymnastics equipment supplier to The World Games 2022 due to take place from 7-17 July in Birmingham, Alabama, USA.
The World Games is a multi-disciplinary sports event organised along the lines of the Olympic Games by the IWGA (International World Games Association) every four years since 1981 and assembling the world's best athletes. The 11th Games to be held in July 2022 will feature nearly 3,600 athletes competing in over 30 disciplines.
SPIETH America will supply equipment for the acrobatic, aerobic and rhythmic gymnastics, tumbling and trampoline events. SPIETH America will also be supporting the Parkour field of play (FOP) alongside partner Hurricane. Parkour or free-running is a currently booming acrobatic sports discipline in which speed and agility are required to overcome a series of obstacles.
16 May 2022 after close of trading 2021/22 annual revenue
Find more about www.abeo-bourse.com
|ABEO is a major player in the sports and leisure market. The Group posted turnover of € 174 million for the year ended 31 March 2021, 73% of which was generated outside France, and has 1,339 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