LUMIBIRD: FY 2022 REVENUES OF €191M (+18%)
January 30 2023 - 11:45AM
LUMIBIRD: FY 2022 REVENUES OF €191M (+18%)
Lannion, 30 March 2023 – 17:45
LUMIBIRD: FY 2022 REVENUES OF €191M (+18%)
- Accelerated growth for both
divisions during challenging global
times
- New record in Q4 with
revenues of €66m (+32%)
- EBITDA
margin expected between 18% and 19% in H2
2022, up significantly from H1 2022 (13.3%)
- 2022 annual EBITDA estimated
at €30-32m, lower than Group
target in spite of the
recovery in
H2
- Organic growth and
2023 EBITDA margin target of 20-25%
reaffirmed
The LUMIBIRD Group (FR0000038242 -
LBIRD), the European leader for laser technologies, recorded annual
revenues of €191 million
at 31 December 2022, up
18%, and
+12%
like-for-like1 and at constant
exchange rates.
Consolidated revenues
(unaudited)
Revenues (€m) |
2022 |
2021 |
Reported change |
Change at constant scope and exch rates |
First quarter |
38.0 |
33.8 |
+12% |
+11% |
Second quarter |
46.0 |
41.7 |
+10% |
+7% |
Third quarter |
40.9 |
37.2 |
+10% |
+4% |
Fourth quarter |
66.0 |
49.8 |
+32% |
+22% |
12 months |
191.0 |
162.5 |
+18% |
+12% |
of which |
|
|
|
|
Photonics |
93.5 |
76.3 |
+23% |
+13% |
Medical |
97.5 |
86.2 |
+13% |
+11% |
2022 annual turnover up by
+12% like-for-like and at
constant currency
The LUMIBIRD Group's consolidated annual
turnover was €191m in 2022, evenly split between the Photonics
(€93.5m, +22%) and Medical (€97.5m, +13%) divisions. On a
like-for-like basis, annual growth is 12%. The impact of changes in
the scope of consolidation is linked to the integration on 31 May
of the Defense rangefinder activities of Lumibird Photonics Sweden
(previously Saab), which contributed €5.7m over the year. The
annual exchange rate effect was positive and represented €3.7m,
mainly due to the appreciation of the dollar over the period.
The breakdown of annual sales by division and by
geographical area is as follows:
Revenues (M€) |
Photonics |
Var. |
Medical |
Var. |
EMEA |
46.3 |
+38% |
30.8 |
+5% |
Americas |
18.2 |
+33% |
30.6 |
+26% |
APAC |
18.1 |
-3% |
24.0 |
+11% |
Rest of the world |
10.9 |
+4% |
12.1 |
+12% |
Total |
93.5 |
+23% |
97.5 |
+13% |
Données non auditées par les commissaires aux
comptes
The Photonics Division recorded strong growth in
Europe (+38%) and the United States (+26%), whilst sales declined
slightly in China, where the zero COVID policy weighed on the
economy.
The Medical division was more resilient in Asia
(+11%); it recorded dynamic growth in the United States (+18%) and
limited growth (+5%) in Europe, which was affected by the conflict
in Ukraine. Annual sales in Ophthalmology were delivered through
direct sales (€50m, up 11%) and the distributor network (€47.4m, up
15%) channels.
A record fourth quarter, at
€66 million, up 32%.
The Photonics division
experienced the strongest growth in the last quarter, at +49% with
a revenue of €35.3m. Defence/Space activities, notably supported by
the integration of Lumibird Photonics Sweden, recorded €14.6m
revenue in Q4 (+167%), representing 49% of the €30.1m (+50%) annual
revenue. The Industrial and Scientific business grew by 30% in Q4
to €11.1m, for an annual total of €37.4m (+10%). The Lidar business
was stable at €9.6m in Q4 for a full year revenue of €26.0m (+16%).
Lidar systems represented 34% of the Lidar business over the year
and grew by 42%.
The Medical division recorded
stable seasonal growth throughout the year and closed the last
quarter up 17% at €30.7m. The division's sales are split between
Diagnostics (€8.6m in the last quarter and €23.8m for the full
year, up 28%) and Treatment (€22.1m in the last quarter and €73.7m
for the full year, up 9%).
Outlook
In 2022, the group has implemented measures to
combat supply chain and rising costs (high inflation) difficulties
and invested in new sites (Göteborg, Courtabœuf, Lannion and
Ljubljana) to increase production capacity from 2023 onwards to
meet strong demand.
Profitability has been regained in H2 with a H2
2022 EBITDA margin of between 18% and 19%, a partial recovery from
the drop in profitability experienced in H1 2022, with an estimated
annual 2022 EBITDA of between €30 and €32m.2
In 2023, the Group confirms its objective to
achieve organic revenue growth of 8-10% and an EBITDA margin in the
range of 20% to 25%. The Group continues to be active on potential
acquisition opportunities.
Next
dates:
2022 FY results:
14 March 2023 (after close of trading)
2023 Q1 revenues: 24
April 2023 (after close of trading)
Annual general meeting: 28 April 2023,
14h00 (Les Ulis)
2023 H1 revenues: 24
July 2023 (after close of trading)
H1 results:
26 September 2023 (after close of
trading)
LUMIBIRD is one of the world's leading
specialists in lasers. With 50 years of experience and a mastering
of solid state laser, laser diodes and fiber laser technologies,
the Group designs, manufactures and markets high performance lasers
for scientific (laboratories and universities), industrial
(manufacturing, defense, Lidar sensors) and medical (ophthalmology,
ultrasound diagnostic) markets.
Born from the combination of Keopsys Group with
Quantel in October 2017, LUMIBIRD has more than 940 employees and
over €162 million of consolidated revenues in 2021 and is
present in Europe, America and Asia.
LUMIBIRD shares are listed on the
Euronext Paris B Compartment. FR0000038242 –
LBIRD www.lumibird.comSince
2022, LUMIBIRD is part of Euronext Tech
Leaders
Contacts
LUMIBIRDMarc Le FlohicChairman and CEOTel. +33(0) 1 69 29 17
00info@lumibird.com |
LUMIBIRDAude Nomblot-GourhandSecretary General – CFOTel. +33(0) 1
69 29 17 00info@lumibird.com |
CalyptusMathieu CalleuxInvestors RelationsTel. +33(0) 1 53 65 37
91lumibird@calyptus.net |
1 Adjusted for the impact of Lumibird Photonics Sweden: €5.7m in
20222 The information provided has not been audited as the audit
work is ongoing.
- 230130_Lumibird_CAt4_2022EN
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