ABEO confirms strong growth in Q1 2022/23 with revenue up 27.4% and an order intake of EUR 58.8m

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).

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

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

Source Actusnews