Artificial Intelligence
LACROIX Group : Annual results 2019-2020. Proven resilience in the face of the crisis. On course to making the most of recovery.
Annual results 2019-2020
Proven resilience in the face of the crisis
On course to making the most of recovery
LACROIX (LACR – FR0000066607), an international technological equipment manufacturer, presents its results for the financial year 2019/2020.
As a reminder, following the change in the closure date, the financial year ran for an exceptional period of 15 months, from 1 October 2019 to 31 December 2020. As a result, it is not directly comparable to the previous 12-month financial year ended 30 September 2019. For the purpose of better comparability and for information, this press release therefore presents certain financial aggregates on a 12-month pro forma basis (from 1st January to 31 December 2020).
| in millions of euros | 2019-2020 15 months |
2018/2019 12 months |
Variation | 2019/2020 12 months pro forma |
Change |
| 01/10/19 – 31/12/20 |
01/10/18 – 30/09/19 |
01/01/20 – 31/12/20 |
|||
| Revenue | 566.3 | 481.6 | +17.6% | 441.0 | -8.4% |
| EBITDA | 34.6 | 28.9 | 19.7% | 26.1 | -9.6% |
| as a % of revenue | 6.1% | 6.0% | +10bp | 5.9% | -10bp |
| Current operating profit | 20.1 | 20.8 | -3.0% | 14.4 | -30.6% |
| as a % of revenue | 3.6% | 4.3% | -70bp | 3.3% | -100bp |
| Operating profit | 19.1 | 16.3 | +16.8% | ||
| Financial income | (1.7) | (1.0) | -62.2% | ||
| Income taxes | (5.7) | (4.2) | -35.9% | ||
| Consolidated net income | 11.7 | 11.1 | +5.4% | ||
| Net income – Group share | 11.0 | 10.6 | +3.7% |
A turnaround in activity from the fourth quarter
After a start to the financial year driven by still robust activity with a first quarter up 7.6%, the growth momentum was logically stopped by the first national lockdown, impacting the end of the second quarter (-7.5% over the period from January to March) and especially the third quarter (-36.1% for the period from April to June).
With the gradual lifting of restrictive health measures, business has steadily recovered, demonstrating the resilience of the Group, which has made a rapid return to growth with increases of 1.8% and 2.2% respectively in the fourth and fifth quarters (compared to the previous year).
For the full 2019-2020 financial year (15 months, from 1 October 2019 to 31 December 2020), LACROIX recorded revenue of €566.3 million, up 17.6% on a reported basis. On a pro forma basis (12 months, from 1 January to 31 December 2020), the latter came to €441.0 million, down 8.4%, entirely in line with the target announced in spring 2020 (an expected fall of around 10%).
The upturn underway is all the more encouraging as it is driven by all the Group’s activities:
- The Electronics Activity posted revenues of €355.2 million over 15 months, up 11.8% on a reported basis. On a 12-month pro forma basis, it fell by 13.3%, compared with a fall of 17.0% at the end of June 2020 (of which 43% in the third quarter alone), partially offset by a return to balance in the fourth and fifth quarters. The rebound was driven in particular by the automotive sector, while demand from the aeronautics sector, whose contribution to the division’s activity did not exceed 8% before the crisis, remains strongly contracted for the time being.
- Boosted by new uses, the City Activity held up well with revenues on a 12-month pro forma basis down by a limited 6.2% and a return to growth from the fourth quarter (+0.4%), confirmed in the fifth quarter (+7.3%). Over 15 months, revenue for the activity was €125.3 million, up 19.8% on a reported basis.
- The Environment Activity also held up remarkably well with growth of 14.1% on a 12-month pro forma basis, driven by maintained sales momentum and the sound contribution of SAE IT Systems in the field of the Smart Grid (acquisition carried out in February 2019). On a reported basis, the 15-month revenues were up 44.9% to €85.8 million.
Vincent Bedouin, Chairman and CEO of LACROIX, “While the health crisis has logically penalised us, forcing us to postpone achieving the objectives of our Ambition 2020 strategic plan, we are nonetheless very satisfied with the resilience demonstrated by all our activities, which have made a rapid turnaround. Our ability to ensure business continuity with our customers and the successful integration of our latest acquisitions have enabled us to cope with this unprecedented context. While the current situation still calls for caution, we are now ready to prepare for tomorrow’s growth and set new ambitions.”
Strong resistance of results
EBITDA came to €34.6 million, up 19.7% on a reported basis, representing 6.1% of overall activity for the period.
On a reported basis, current operating profit came to €20.1 million, down by only 3.0% compared with 2018/2019. The current operating margin held up well with a limited drop of 70 basis points to 3.6%.
On a 12-month pro forma basis, current operating profit came to €14.4 million, down 1 point to 3.3% compared with 2018/2019. The measures immediately taken in the spring to protect the Group’s financial fundamentals, as well as the marked recovery of all activities from the fourth quarter, made it possible to limit the impact of the crisis on operational profitability.
This resistance is especially noticeable in LACROIX’s Environment Activity. The sharp rebound in activity recorded in the second half of the financial year, the tight control of the cost structure and the positive contribution of SAE IT Systems enabled the activity to maintain a high current operating margin.
Performance was more mixed for the Group’s other two activities. The Electronics Activity showed a €6.9 million drop in current operating profit compared with 2019, which nevertheless remains positive at €2.5 million. The City Activity, for its part, showed a current operating loss of €1.8 million, entirely attributable to the effects of the health crisis.
Operating profit amounted to €19.1 million and included exceptional expenses that were significantly lower than those recorded for the 2018/2019 financial year (€1.0 million versus €4.4 million).
After taking into account financial income and tax expenses, the net income (Group share) remains positive at €11.0 million.
Strong Free Cash Flow generation of €30.8 million driven by the improvement in WCR
LACROIX posted a significant increase in its net cash flow from operations to €48.0 million compared to €6.3 million in 2018/2019. Beyond the extended duration of the financial year to 15 months, this strong performance comes from the improvement in WCR observed over the entire period, up by €21.7 million and which partly benefited from a recovery in fundamentals (deterioration of €15.7 million in the previous financial year) and an improvement in customer receipts at the end of the calendar year.
The Group also continued its investment programme in order to prepare for future growth and take full advantage of the upturn. As such, investments excluding financial investments and changes in scope, amounted to €17.2 million over the period, compared with €11.7 million in the previous year. €2.2 million are related to the 4.0 Symbiose factory project, the timetable for which is still on schedule despite the context. As a reminder, this new site, which receives financial support from BPI, is intended to achieve €100 million in turnover by 2027. Delivery is scheduled for the end of the year.
In total over the period, LACROIX generated €30.8 million in Free Cash Flow (excluding financial investments and excluding the impact of changes in scope).
Lastly, a State-guaranteed loan was obtained in June for €18.5 million. Over the period, debt improved significantly with a gearing ratio of 0.29 at 31 December 2020 compared to 0.54 at 30 September 2019.
With €54.4 million in cash at 31 December, the Group has a healthy financial position, ensuring it has solid means to finance its growth ambitions, whether organic or through acquisitions.
Dividend
A dividend of €0.68 per share will be proposed at the next General Meeting of Shareholders. This proposal includes a 20% reduction in the usual distribution rate to take into account the specific context of 2020.
Presentation of the new strategic plan on 7 April
While the signs of economic turnaround have been confirmed over recent months, LACROIX is fully operational and ready to return to a positive trajectory both in terms of growth and progression in its profitability.
The Group is also expected to continue to benefit from the significant contributions of its latest acquisitions, whether in industrial IoT and artificial intelligence with eSoftThings (acquisition carried out in July 2020) or in the buoyant Smart Grid market with SAE IT Systems (acquisition carried out in February 2019).
Given these encouraging prospects, new ambitions will be unveiled when the new strategic plan is presented on 7 April 2021. This plan will be an opportunity to share the strategic objectives and priorities that will drive the Group’s development for the next five years.
Upcoming dates
Presentation of strategic plan: 7 April 2021 before market open
Revenue for the 1st quarter of 2021: 10 May 2021 after market close
See our financial information in our investor section
https://www.lacroix-group.com/investors/
Contacts
ABOUT LACROIX
Convinced that technology should contribute to simple, sustainable and safer environments, LACROIX enable its customers to build and manage smarter life ecosystems, thanks to useful equipment and technologies.
As a publicly-listed family-owned SME, LACROIX combines the essential agility required to innovate in an ever-changing technological sector with the ability to industrialise robust and secure equipment, cutting-edge know-how in industrial IoT solutions and electronic equipment for critical applications and the long-term vision to invest and build for the future.
LACROIX designs and manufactures its customers’ electronic equipment, in particular in the automotive, home automation, aeronautical, industrial and health sectorś. LACROIX also provides safe, connected equipment for the management of critical infrastructures such as smart roads (street lighting, traffic signs, traffic management, V2X) and the management and operation of water and energy systems.
Drawing on its extensive experience and expertise, the Group works with its customers and partners to build the connection between the world of today and the world of tomorrow. It helps them to create the industry of the future and to make the most of the opportunities for innovation that surround them, supplying them with the equipment for a smarter world.
Attachment
Artificial Intelligence
Clinical Trials Matching Software Market Projected to Reach $832.56 million by 2030 – Exclusive Report by 360iResearch
PUNE, India, April 18, 2024 /PRNewswire/ — The report titled “Clinical Trials Matching Software Market by Functionality (Analytics & Reporting, Compliance Tracking, Data Management), Deployment (Cloud & Web Based, On-Premise), End-Use – Global Forecast 2024-2030” is now available on 360iResearch.com’s offering, presents an analysis indicating that the market projected to grow from a size of $342.20 million in 2023 to reach $832.56 million by 2030, at a CAGR of 13.54% over the forecast period.
“The Global Surge in Adoption of Matching Software for Enhanced Participant Enrollment”
Clinical trials matching software stands at the forefront of revolutionizing clinical research by automating the process of identifying and enrolling eligible participants. These platforms offer a streamlined approach to match patient health profiles with trial requirements, accelerating enrollment and supporting the shift toward personalized healthcare using these advanced AI and ML technologies. Although integrating these systems poses challenges due to variations in healthcare IT infrastructure and the imperative for rigorous data security, the potential for market growth is substantial. In the Americas, a robust clinical trials ecosystem thrives; in the European Union, it has unified regulatory standards and extended to emerging regions such as the Middle East, Africa, and the APAC countries; the demand for such innovative solutions is on a steep rise. This demand is fueled by governmental support, the evolving regulatory landscape, and strategic partnerships to embed these solutions within electronic health records, underscoring a global movement toward optimizing clinical trial processes to better cater to specific patient demographics.
Download Sample Report @ https://www.360iresearch.com/library/intelligence/clinical-trials-matching-software
“The Rise of Virtual Trials and Advanced Matching Software”
The healthcare landscape is witnessing a transformative shift toward virtual clinical trials, fueled by technological advancements and the necessity for continuity during the COVID-19 pandemic. This transition supports research amid social distancing measures and introduces significant cost savings by reducing the need for physical infrastructure and in-person interactions. The efficiencies brought by electronic health records (EHR), wearable technologies, and automation streamline the entire process, from patient recruitment to data analysis. Several approaches, endorsed by regulatory bodies such as the FDA, represent a leap forward in making clinical trials more accessible and streamlined, ensuring that more patients can participate in potentially life-saving research without the geographical and logistic constraints of traditional trials.
“Enhancing Clinical Trials through Advanced Analytics, Rigorous Compliance, and Precision-Patient Matching”
Integrating advanced analytics, meticulous compliance monitoring, and precision-patient matching marks a significant advancement toward maximizing efficiency and fostering trial diversity. The software delivers insightful data on trial progress, participant demographics, and enrollment figures, empowering stakeholders to make well-informed decisions and optimize resource distribution to meet trial goals effectively by implementing cutting-edge analytics. The built-in compliance feature ensures trials are conducted in strict adherence to regulatory standards, minimizing risks associated with non-compliance. Furthermore, a robust data management system guarantees the integrity and availability of clinical trial data, which is critical for the seamless operation and real-time analysis of trials. The software includes state-of-the-art patient matching technology, which employs sophisticated algorithms and artificial intelligence to expedite recruitment by accurately identifying candidates who match specific trial requirements. This innovative approach accelerates the recruitment timeline and enhances the diversification of trial participants, paving the way for more inclusive and representative clinical research outcomes.
Request Analyst Support @ https://www.360iresearch.com/library/intelligence/clinical-trials-matching-software
“Medidata by Dassault Systèmes SE at the Forefront of Clinical Trials Matching Software Market with a Strong 11.30% Market Share”
The key players in the Clinical Trials Matching Software Market include International Business Machines Corporation, Science 37, Inc. by eMed, LLC, Medidata by Dassault Systèmes SE, AutoCruitment LLC, Deep 6 AI Inc., and others. These prominent players focus on strategies such as expansions, acquisitions, joint ventures, and developing new products to strengthen their market positions.
“Introducing ThinkMi: Revolutionizing Market Intelligence with AI-Powered Insights for the Clinical Trials Matching Software Market”
We proudly unveil ThinkMi, a cutting-edge AI product designed to transform how businesses interact with the Clinical Trials Matching Software Market. ThinkMi stands out as your premier market intelligence partner, delivering unparalleled insights with the power of artificial intelligence. Whether deciphering market trends or offering actionable intelligence, ThinkMi is engineered to provide precise, relevant answers to your most critical business questions. This revolutionary tool is more than just an information source; it’s a strategic asset that empowers your decision-making with up-to-the-minute data, ensuring you stay ahead in the fiercely competitive Clinical Trials Matching Software Market. Embrace the future of market analysis with ThinkMi, where informed decisions lead to remarkable growth.
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“Dive into the Clinical Trials Matching Software Market Landscape: Explore 190 Pages of Insights, 286 Tables, and 22 Figures”
PrefaceResearch MethodologyExecutive SummaryMarket OverviewMarket InsightsClinical Trials Matching Software Market, by FunctionalityClinical Trials Matching Software Market, by DeploymentClinical Trials Matching Software Market, by End-UseAmericas Clinical Trials Matching Software MarketAsia-Pacific Clinical Trials Matching Software MarketEurope, Middle East & Africa Clinical Trials Matching Software MarketCompetitive LandscapeCompetitive PortfolioInquire Before Buying @ https://www.360iresearch.com/library/intelligence/clinical-trials-matching-software
Related Reports:
Clinical Trial Support Services Market – Global Forecast 2024-2030Virtual Clinical Trials Market – Global Forecast 2024-2030Clinical Trials Management System Market – Global Forecast 2024-2030About 360iResearch
Founded in 2017, 360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
We are a dynamic, nimble company that believes in carving ambitious, purposeful goals and achieving them with the backing of our greatest asset — our people.
Quick on our feet, we have our ear to the ground when it comes to market intelligence and volatility. Our market intelligence is diligent, real-time and tailored to your needs, and arms you with all the insight that empowers strategic decision-making.
Our clientele encompasses about 80% of the Fortune Global 500, and leading consulting and research companies and academic institutions that rely on our expertise in compiling data in niche markets. Our meta-insights are intelligent, impactful and infinite, and translate into actionable data that support your quest for enhanced profitability, tapping into niche markets, and exploring new revenue opportunities.
Contact 360iResearchMr. Ketan Rohom360iResearch Private Limited,Office No. 519, Nyati Empress,Opposite Phoenix Market City,Vimannagar, Pune, Maharashtra,India – 411014.Email: [email protected]: +1-530-264-8485India: +91-922-607-7550
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BOSTON, April 18, 2024 /PRNewswire/ — The RepTrak™ Company, the world’s leading reputation data and insights company, released its annual Global RepTrak 100 report. Utilizing its advanced reputation monitoring software, RepTrak gathered data from more than 243,000 survey responses across 14 major economies to rank the world’s 100 most reputable companies. They share that ranking alongside a full analysis of global corporate reputation trends and corresponding public sentiment in the 2024 report.
After two years of consecutive Reputation Score declines, this year’s Score is back up with an increase from 73.2 in 2023 to 73.8 in 2024. It’s a small increase after 2023’s full one-point drop. However, it’s an encouraging sign that companies have begun to recover from reputation falls driven by many challenges: macroeconomic issues, workplace difficulties, product problems, and corporate responsibility skepticism.
“This year’s report underscores a pivotal shift in the corporate landscape, spotlighting the remarkable adaptability and dedication of the Top 100 companies in responding to the dynamic needs of stakeholders,” states RepTrak CEO Mark Sonders. “The companies featured in our report are not just riding the wave of change; they are the ones steering it, proving that the best approach to business is one that embraces evolution and champions progress.”
RepTrak’s report explores how people thought, felt, and acted toward companies over the past year. Findings include notable increases in Conduct and Citizenship efforts, stakeholders’ rising willingness to invest, culturally resonant brand communications, and ESG Scores that soared despite skepticism around the acronym.
To read the full 2024 Global RepTrak 100 report, please visit: www.reptrak.com/globalreptrak
About RepTrak
The RepTrak™ Company is the world’s leading reputation data and insights company. We help companies by organizing and grading a variety of reputational elements, offering a real-world report card on their corporate reputation. Subscribers to the RepTrak program use our predictive insights to protect business value, improve return on investment, and increase their positive impact on society. RepTrak’s pairing of advanced metrics and dedicated reputation advisors offers clients an actionable analysis of their reputation data, aligning business objectives with stakeholder sentiment across different markets and sectors.
Established in 2004, The RepTrak Company owns the world’s largest reputation benchmarking database, gathering over 1 million company ratings per year used by CEOs, boards, and executives in more than 60 countries worldwide. For more information, please visit: www.reptrak.com
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Artificial Intelligence
Group-IB takes part in a global operation to cripple Canadian Phishing-as-a-Service provider LabHost
SINGAPORE, April 18, 2024 /PRNewswire/ — Group-IB, a leading cybersecurity company aimed at investigating, preventing, and fight digital crime announced today that it participated in a coordinated global takedown operation against prominent Canadian Phishing-as-a-Service (PhaaS) provider LabHost, which has led to the arrest of 37 suspects across the United Kingdom and around the world by law enforcement agencies. As part of the operation, Group-IB also conducted an extensive analysis of LabHost’s criminal history and infrastructure, including insights into LabHost’s administrative platform and the services it provides to its purported user base which exceeds 2,000 subscribers worldwide, who illegally obtained around 480,000 card numbers, 64,000 pin numbers, and over 1 million passwords from victims used for websites and other online services, according to law enforcement agencies.
“By leveraging our Threat Intelligence and Digital Risk Protection, we are able to identify and monitor phishing attacks and websites like those deployed by LabHost and its subscribers around the world, enabling us to actively alert and protect our customers, and in turn, their customers as well,” said Dmitry Volkov, Chief Executive Officer of Group-IB. “Today’s takedown operation demonstrates the agility and responsiveness of our decentralized Digital Crime Resistance Centers, and how quickly we can provide immediate and local assistance wherever our customers may be.”
First uncovered in late 2021, LabHost emerged as a fully automated Phishing-as-a-Service (PhaaS) platform, streamlining the creation of phishing websites meticulously mirroring the interface and functionality of prominent banking, postal, and financial entities, aimed at intercepting, seizing, and profiting from users’ personal, credit card, and online banking credentials. Users are prompted to select from various “membership plans,” tailored to target businesses and individuals in either the United States and Canada, or globally, akin to mobile subscription models. These plans encompass “standard,” “premium,” and “world membership” tiers, priced between US$179 and US$300 monthly, with options for monthly, quarterly, or annual billing cycles.
For media inquiries, please contact [email protected]
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