ABEO: Revenue up 17.1% and order intake at EUR 176.7m for the 9 months ended 31/12/2022   (07/02/2023 18:45)

ABEO, a world leader in sports and leisure equipment, today announces its revenue and order intake for the first nine months of its 2022/23 financial year ended 31 December 2022.

€m Unaudited	2022/2023	2021/2022	Change	Change (LFL1)
Q3 revenue	55.4	52.2	+6.1%	+3.7%
Sports	29.6	27.3	+8.4%	+4.0%
Sportainment & Climbing	10.5	11.9	-11.5%	-12.2%
Changing Rooms	15.3	13.1	+17.2%	+17.5%
9-month revenue	173.2	147.9	+17.1%	+12.7%
Sports	87.4	72.4	+20.7%	+14.2%
Sportainment & Climbing	37.4	31.9	+17.1%	+11.3%
Changing Rooms	48.4	43.6	+11.2%	+11.2%
YTD order intake (31/12)2	176.7	163.6	+8.0%	+3.0%

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.

The ABEO Group achieved Q3 2022/23 revenue of €55.4m, up 6.1%, including a 1.6% consolidation gain linked to the recent acquisition of Eurogym[1] and BigAirBag[2] and a 0.8% currency gain (appreciation of the US dollar). The Group posted a strong quarterly performance including 3.7% organic growth, despite the unstable economic environment.

The Sports division maintained strong business volumes, posting revenue of €29.6m, up 8.4% (up 4.0% like-for-like), which the division expects to amplify in Q4. The division continued its momentum in North America, particularly in the Gymnastics business.

Sportainment & Climbing division revenue declined in Q3 following strong first half growth (H1 2022/23 up 34.1%) and a challenging comparison base (Q3 2021/22 up 43.6%), particularly in North America. The division was impacted by longer negotiation time for projects, in a highly competitive market, for which the Group is currently adapting its offering. The European market remains well on track.

Lastly, the Changing Rooms division posted strong Q3 revenue growth of 17.2%, confirming the robust sales momentum seen in the previous quarter across French and German markets.

Accordingly, ABEO 2022/23 9-month revenue amounted to €173.2m, up 17.1% versus the same period last year. Organic growth for the period came to 12.7%, amplified by a 2.3% consolidation gain (consolidation of Eurogym and BigAirBag) and a 2.1% currency gain.

Trends and outlook

Sales activity remained strong during the 9 months ended 31 December 2022, resulting in order intake of €176.7m for the period, up 8.0% (3.0% organic growth, 3.5% acquisitions and a 1.5% currency gain) versus 9-month 2021/22 order intake.

ABEO is in line with its roadmap for 2022/23 financial year and confirms its double-digit organic growth targets. Against a backdrop of increased inflationary pressure in the second half coupled with a highly competitive market environment, the Group is seeking the right balance between volume and operating margin, considering that Q4 tends to be a stronger period in terms of business and earnings.

Over the medium term, the Group will benefit from the strong visibility gained by its Spieth America brand after its first appointment as official equipment supplier to major US national and international competitions by the American gymnastics federation (USA Gymnastics). This will be a new growth driver for ABEO's Sports division over the coming years.

Lastly, ABEO expects business to gradually pick up in Asia as the market grinds back into action after the lifting of health restrictions in China.

Next release
16 May 2023 after close of trading 2022/23 annual revenue

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

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[1] Consolidated on 01/11/2021

[2] Consolidated on 01/06/2022