ABEO confirms strong growth in Q1 2022/23 with revenue up 27.4% and an order intake of EUR 58.8m   (21/07/2022 18:00)

ABEO, a world leader in sports and leisure equipment, today announces its revenue and order intake for the first quarter of its 2022/23 financial year (from 1 April to 30 June 2022).

€m
Unaudited
2022/2023 2021/2022 Change Change (LFL1)
Sports 25.3 20.3 +24.9% +19.9%
Sportainment & Climbing 14.2 8.8 +60.9% +51.0%
Changing Rooms 16.5 14.8 +11.0% +10.8%
Q1 revenue 56.0 44.0 +27.4% +23.1%
         
Q1 order intake2 58.8 53.1 +10.8% +4.8%
  1. : refers to the change in revenue over a comparable period and at constant consolidation scope, excluding the impact of currency fluctuations
  2. : 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 over the relevant period, as compared to the same period for the previous financial year.


At the beginning of this financial year, ABEO confirmed its strong business momentum with Q1 2022/23 revenue up 27.4% to €56.0m, including the consolidation of recent acquisitions, Eurogym[1] and BigAirBag[2] (1.5% contribution to Q1 revenue). Despite the ongoing impact of the pandemic on business in Asia, Q1 2022/23 organic growth remained robust at 23.1%, bolstered by strong growth in all three divisions and the confirmed recovery for the Sports and Sportainment divisions in the United States. Currency gains for the quarter boosted revenues by 2.9% (appreciation of the US dollar).

Sports division revenues rose 24.9% (19.9% like-for-like), driven by the Gymnastics business in Europe and North America. The Sportainment & Climbing division further confirmed its quarter-on-quarter recovery and posted revenue of €14.2m, representing a sharp increase of 60.9% (51.0% like-for-like). The US Sportainment market continued its recovery and core businesses are still progressing well. Lastly, the Changing Rooms division returned to pre-crisis levels, posting revenue of €16.5m, up 11.0% (10.8% like-for-like) for the quarter.


Trends and outlook

In line with Q4 2021/22, growth in order intake continued into the start of the new financial year. Order intake in Q1 2022/23 amounted to €58.8m, up 10.8% despite a challenging comparison base. As a reminder, Q1 2021/22 order intake was boosted by the catch-up effect following the end of consecutive Covid-19 lockdowns.

2022/23 financial year started off strong and the Group is confident in its ability to achieve double-digit organic growth for another year, despite the uncertainty surrounding the geopolitical tensions on the global economy.


Next releases

8 November 2022 after close of trading - H1 2022/23 revenue
6 December 2022 after close of trading - H1 2022/23 results


Find more at www.abeo-bourse.com


ABOUT ABEO
ABEO is a major player in the sports and leisure market. The Group posted turnover of € 205.3 million for the year ended 31 March 2022, 74% of which was generated outside France, and has 1,413 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.


Contacts

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] Consolidated on 01/11/2021

[2] Consolidated on 01/06/2022


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