ABEO, a world leader in sports and leisure equipment today announces its revenue and order intake for the 2023/24 financial year (from 1 April 2023 to 31 March 2024).
| €m Unaudited | 2023/2024 | 2022/2023 | Change | Change LFL1 |
| Q4 revenue | 64.0 | 65.6 | -2.4% | -2.0% |
| Sports | 36.3 | 36.6 | -0.7% | +0.4% |
| Sportainment & Climbing | 11.2 | 11.7 | -4.1% | -4.6% |
| Changing Rooms | 16.4 | 17.3 | -4.9% | -5.2% |
| YTD revenue | 248.4 | 238.8 | +4.0% | +4.5% |
| Sports | 134.9 | 124.1 | +8.8% | +9.2% |
| Sportainment & Climbing | 48.0 | 49.0 | -2.0% | -0.7% |
| Changing Rooms | 65.5 | 65.7 | -0.4% | -0.4% |
| YTD order intake (31/03) | 248.3 | 238.6 | +4.1% | +4.6% |
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.
Another year of growth in 2023/24, bolstered by the Sports division and the core businesses in the Sportainment & Climbing division
ABEO posted Q4 2023/24 consolidated revenue of €64.0m, representing a slight dip of 2.0% (down 2.4% as reported) versus Q4 2022/2023, but up 5% compared to the previous quarter. The 0.3% currency gain is mainly due to the appreciation of the US dollar over the period.
This revenue trend is due to a very challenging comparison base (record Q4 2022/23 revenue, up 14.5%) and the ongoing shift in the US Sportainment market.
Despite differences between its various businesses, the Sports division generated stable revenue during Q4 2023/24 following considerable growth over the first three quarters (12.9% organic growth over the nine months to 31/12/2023), mainly driven by the momentum of the Gymnastics business in France, boosted by preparations for the Paris 2024 Olympic and Paralympic Games. The Gymnastics business remained solid throughout the rest of Europe and North America in the fourth quarter.
Sportainment & Climbing division revenue dropped 4.6% to €11.2m (down 4.1% as reported) compared to the same period last year. The climbing wall segment, a core business in Europe and the USA, continued its momentum, generating organic growth of 16.1% in Q4 2023/24 (up 17.0% as reported).
Lastly, the Changing Rooms division posted a decline in sales volumes in Q4 2023/24 (down 5.2% like-for-like and down 4.9% as reported), due to a challenging comparison base following the impressive 16.8% growth recorded in Q4 2022/23 (up 16.0% as reported).
Accordingly, ABEO posted full-year 2023/24 revenue of €248.4m, up 4.5% like-for-like (up 4.0% as reported) compared to FY 2022/23. This performance was driven by the Sports division (up 9.2% like-for-like) and by the resilience of the two other divisions, which posted similar business volumes to last year. It is worth pointing out the considerable increase in the climbing wall segment within the Sportainment & Climbing division (up 24.0% like-for-like), which offsets the still disturbed US Sportainment market, for which the Group has taken steps to remedy the disruptions, that should bear fruit in 2024/25.
Trends and outlook
2023/24 sales remained healthy, with full-year order intake at €248.3m, up 4.6% (up 4.1% as reported) compared to the previous year.
In light of the satisfying performance throughout 2023/24 and despite a complex economic environment worldwide, the Group is confident in maintaining its EBITDA margin for the year ended 31 March 2024 at a similar level to the previous year.
With only 73 days to go before the Paris 2024 Olympic and Paralympic Games, ABEO's teams are already on the starting blocks
Preparations for the gymnastics competitions are on schedule, with the training centre set to be installed in mid-June.
The final stages of the climbing wall set-up are underway for the climbing events and a "test event" is scheduled for late June so that any necessary adjustments can be made.
Lastly, all the equipment for the basketball events is under production. At the Bercy arena, which will host two separate disciplines, the transition between basketball and gymnastics proved successful, taking less than the 17 hours required by the rules at the "test event" held in September 2023.
Drawing on the Company's extensive experience supplying equipment to top international sports events, ABEO's employees will contribute their entire expertise to this outstanding event to ensure the success of the Paris 2024 Olympic and Paralympic Games.
Next release
4 June 2024 after close of trading: Full-year 2023/24 results
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 € 248.4 million for the year ended 31 March 2024, 73% of which was generated outside France, and has 1,446 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 investor@beo.fr Tel: +33 (0)1 53 67 36 77
Press relations - Serena Boni presse@beo.fr Tel: +33 (0)4 72 18 04 92
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