LACROIX’s turnover exceeds 500 million euros for the first time in its history and achieves its 2021 objective. Growth of 13.7% for 2021. 2021 profitability expected at the top of the range.

Lacroix Group

02/14/2022

LACROIX’s turnover exceeds 500 million euros
for the first time in its history
and achieved its 2021 target

13.7% growth for 2021

Profitability for 2021 Expected in the high end

500 € million revent threshold exceded for the Ffirst of all youtime andworm in 2021

Driven by the continuation of a good commercial dynamic, and mitigated only by the impact of supply tensions, LACROIX’s turnover increased by 6.4% in the 4and quarter of 2021, at €136.3 million, up 8.7% compared to the same period of 2019. And beyond the commercial dynamic, the acquisition of new customers and structuring projects in 2021 will further strengthen the Group confidence for 2022.

In full year, in accordance with the announced objective, LACROIX exceeded for the first time in its history the annual turnover threshold of 500 million euros. The exact figure is 501.5 million euros, up 13.7% compared to the same period in 2020 (from January 1 to December 31, 2020), driven by all of the Group’s activities.

Finally, with growth of 2.2% compared to the comparable period in 2019, this performance completely erases the impact of the pandemic on turnover.

Turnover in millions of euros

2021

2020

Variation

Total 2021

Total 2020

Variation

1st trimester

127.6

113.4

+12.5%

127.6

113.4

+12.5%

2n/a trimester

127.2

80.1

+58.7%

254.8

193.5

+31.7%

3rd trimester

110.3

119.4

-7.6%

365.1

312.9

+16.7%

4and trimester

136.3

128.1

+6.4%

501.5

441.0

+13.7%

Total LACROIX Group

501.5

441.0

+13.7%

501.5

441.0

+13.7%

To note: Due to the change in the closing date, the 2019-2020 financial year had an exceptional duration of 15 months, from October 1, 2019 to December 31, 2020. For comparison purposes, the figure for the 1st quarter 2020 indicated in the above the board corresponds to revenue for the period from January 1, 2020 to March 31, 2020, for the 2n/a quarter from April 1, 2020 to June 30, 2020, for the 3rd quarter from July 1, 2020 to September 30, 2020, and for the 4and quarter from October 1, 2020 to December 31, 2020.

It should be emphasized that the acquisition of FIRSTRONIC does not affect the turnover data for 2021. Thus, out of the 4and quarter, LACROIX did not record any scope impact.

That of the Group youhere aactivities gback on the qquarter, as on the therehear

After a slight drop to 3rd quarter, all Group activities returned to growth in the 4and quarter, mainly driven by the Electronics and City activities.

Turnover in millions of euros

Q4
2021

Oct.–Dec.
2020

Variation

Total 2021

Jan.–Dec.
2020

Variation

electronic activity

83.2

79.2

+5.0%

321.5

275.3

+16.8%

city ​​activity

33.3

29.2

+14.2%

109.9

98.1

+12.0%

Environment Activity

19.7

19.7

+0.2%

70.1

67.5

+3.8%

Total LACROIX Group

136.3

128.1

+6.4%

501.5

441.0

+13.7%

To note: Due to the change in the closing date, the period from October 1 to December 31, 2020 corresponds to the 5and quarter of fiscal year 2019-2020.

electronic activity

The Electronics Activity generated revenue of 83.2 million euros in the 4and quarter, up 5.0% compared to the period from October to December 2020, and 4.2% compared to 2019. Over the period, activity benefited from the re-invoicing of additional costs mainly related to components electronics.

In total, the Electronics Activity posted revenue of 321.5 million euros, up 16.8% compared to the comparable period of 2020 and a stable figure compared to 2019 (-0.2 %). Here again, this is a very satisfactory overall performance given the supply situation and an aeronautics market still down 30% compared to its 2019 levels. In this context, the activity also brought in a significant number of new customers and new programs that will have a positive impact on the coming years, particularly on its new French production site.

It should be noted that Firsttronic’s contribution to the revenue of the Electronic Activity will be applied from January 1, 2022. As a reminder, FIRSTRONIC generated revenue of approximately $140 million in 2021.

city ​​activity

The City Activity had a good end to the year with revenue growth of 14.2% in the 4and quarter alone, for an amount of 33.3 million euros; this level of activity is mainly explained by the continuation of a good trend in V2X and public lighting, as well as by the postponement of projects which had had a negative impact on the previous quarter. This is equivalent to an increase of 22.6% compared to the comparable period of 2019. Note that in the last quarter, the activity also signed new contracts, both in France and internationally, which will be deployed in 2022.

Total annual revenue was €109.9 million, up 12.0% compared to 2020 and 5.5% compared to 2019. Although all segments contributed positive, this solid annual performance is more particularly driven by structural favorable winds in smart public lighting (+20% on its pre-pandemic 2019 level) and “smart” offers such as V2X (connection of road infrastructures and vehicles) , just like in the last two quarters.

Environment Activity

Finally, the Environment Activity and its Water, Energy and Smart Grids segments confirmed a historically high level of activity, with Environment revenue of €19.7 million over the quarter, up very slightly by 0.2%. compared to the previous year, but up sharply by 7.8% in the 4and quarter 2019.

Since January 1, boosted by structurally buoyant markets and despite the COVID-19 pandemic and its impact on export activity, the Environment Activity has achieved total revenue of €70.1 million, up by 3.8% compared to 2020 and 9.1% compared to 2019. 2021 was also characterized, for the water segment of the activity, by the first promising sales of its new products for international markets.

Update on the ssupply ssituation for andelectronic vscomponents

Like other market players in sectors using electronic components, LACROIX continues to face acute supply pressures, reducing its ability to fully meet strong demand in most of its markets. After peaking in the summer of 2021, the pressures still persist and gradual improvement is not expected until the 2n/a half of 2022.

Profitability for 2021 expected to youop andand some rangel

As a reminder, the Group had a recurring EBITDA margin target of between 5.8% and 6.1%.

With demand still strong across all of its businesses and supply chain tensions showing signs of easing towards the end of the year – mainly boosting its most important business in terms of revenue, the Electronics – LACROIX confirms its objective and anticipates a recurring EBITDA margin towards the high end of the range. The final figures will be announced alongside the forecast for 2022, when the annual results are published on March 23 this year.

In addition to new clients and projects in France and abroad which will have a positive impact on 2022, LACROIX will continue to benefit in the longer term from the positive effects of the execution of its strategic plan, in particular from the strengthening of its position in the United States with the incorporation of FIRSTRONIC throughout the year. Under these circumstances, the Group is fully in line with its strategic objectives for 2025.

To come up Deat
Annual results for the 2021 financial year: March 23, 2022 after market close

Find Ffinancial Iinformation in ohyou Ininvestors za
https://www.lacroix-group.com/investors/

About LACROIX

Convinced that technology must contribute to making our living environments simpler, more sustainable and safer, LACROIX supports its customers in the construction and management of smart living ecosystems, thanks to its connected objects and technologies.

A family ETI listed with 501.5 million euros in turnover in 2020, LACROIX combines the agility essential to innovate in a constantly evolving technological sector, the ability to industrialize reliable and secure devices, know-how in IoT Solutions and electronic devices for critical applications, and the long-term vision to invest and build the future.

LACROIX designs and manufactures electronic devices for its customers’ products, as well as IoT (hardware, software and cloud) and AI solutions, particularly for the industry, automotive, home automation, avionics and health. The Group also provides connected and secure solutions for the management of critical infrastructures such as smart roads (public lighting, signaling, traffic management, V2X) and for the management and control of water and energy infrastructures.

Backed by proven technological and business expertise and experience, LACROIX supports its customers and partners to connect the present to the future. It helps them build the industry of the future and take advantage of the innovation opportunities that surround them by providing them with the devices and solutions for a smarter world.

The LACROIX share (ISIN: FR0000066607, mnemonic: LACR:FP) is listed on compartment B of the regulated market of Euronext and is part of the CAC Mid & Small 190 and CAC Small 90 indices.

contacts

THE CROSS
COO and Executive Vice President of Finance
Nicolas Bedouin
[email protected]
Phone. : 02 72 25 68 80

ACTIFIN
Press relations
Jennifer Julia
[email protected]
Phone. : 01 56 88 11 19

ACTIFIN
Financial communication
Simon Derbanne
[email protected]
Phone. : 01 56 88 11 14

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