HOPSCOTCH GROUPE : 2023 Half-year results
Press Release Paris, September 27, 2023Half-year
results Section
HOPSCOTCH GROUPEHalf-year results 2023Sales Grow
by 10%HOPSCOTCH invests in its Development
HOPSCOTCH Groupe (Euronext
FR0000065278), a communications consultancy group and major player
in Digital, Public Relations, Influence,
and Events, presents today its half-year results
for 2023.
Thousand € |
1st HALF-YEAR
2023 |
1st HALF-YEAR
2022 |
Turnover |
122,946 |
108,845 |
Gross Margin |
41, 965 |
38,162 |
Operating
Income |
1, 128 |
4,189 |
Net Income
- Group
Share |
514 |
2,919 |
Steady
Growth in
Sales for the
First
Half of 2023
As previously published, the Group's growth
progressed steadily in the first half, with a +13% increase in
sales to 122,946 thousand euros and a +10% increase in gross margin
to 41,965 thousand euros. All the Group's sectors contributed to
this dynamic performance: Sopexa, despite its strong seasonal
pattern, which places two-thirds of its business in the second half
of the year, grew by almost 4%, Events by almost 7%, driven in
particular by the buoyant Luxury Goods sector, and Consulting by
over 3%. The consolidation of Hopscotch Sport in the first half of
2023 accounts for around half of this overall growth.
Operating Income Mainly Affected by a
Base Effect
Operating income came to 1,128 thousand euros,
compared with 4,189 thousand euros last year. After financial
expenses and corporate tax, net income for the first half of 2023
came to 514 thousand euros.
This apparent decline is due to (excluding the
impact of Hopscotch Sport)
- Non-recurring expenses of more than
1.0 million euros, mainly linked to the current external growth
strategy, and to prospects linked to major events scheduled for
2024, the effects of which will be recognized over the coming
half-years.
- A different method of accounting
for certain expenses, in particular provisions for premiums and
commissions, compared with last year, which will penalize the first
half of 2023 by around 1.6 million euros, but which will not have a
negative impact on the current year.
- Recurring expenses linked to our
organic growth policy and related investments. These costs are up
by around 2.1 million euros for payroll, and 1.0 million euros for
overheads. These are planned structural investments, necessary for
the future.
In addition, the comparison is unfavorable due
to a base effect linked to a sustained recovery in post-covid
activities last year, particularly in events, which benefited from
the rebound effect.
Lastly, as a reminder, the seasonal nature of
Sopexa's business, which only generates a third of its sales in the
first half of the year, means that losses are recorded in the first
half.
This year, the rest of the Group anticipates a
different seasonal pattern to last year, with a proportionally more
active second half, to which Sopexa's seasonal pattern will be
added. Indeed, to date, the 2023 order book is already almost equal
to the entire previous year's activity. Between September and
December 2022, it had been signed and delivered for over 10 million
euros in gross margin. The 2023 order book should also be completed
by the end of the year, promising a buoyant second half.
By the end of the year, therefore, the Group
expects to return to a level of operating margin quite comparable
to that recorded in 2022, despite the investments made to ensure
growth and anticipate 2024, as mentioned above.
A Solid Structure:
A Net Financial Surplus of
12.5 million euros
The balance sheet on June 30, 2023, shows
shareholders' equity of 26,154 thousand euros, including 19,054
thousand euros Group share.
Consolidated surplus cash amounted to 37,170
thousand euros, leaving a financial position net of surplus debt of
over 12.5 million euros. After repayment of over 3 million euros in
the first half, bank borrowings stood at 24,538 thousand euros,
including 17,200 thousand euros in gross borrowings on June 31,
2023, compared with 27,500 thousand euros, including 19,100
thousand euros in gross borrowings on December 31.
The State Granted Loan of 17.2 million euros is
added equally to balance sheet liabilities in debt and balance
sheet assets in cash, as it has not been used for the Group's
financing requirements. It is therefore relevant to compare debt
excluding the State Granted Loan of 7.4 million euros with
shareholders' equity of 26.2 million euros, and a net financial
position identical to 12.5 million euros excluding the State
Granted Loan.
Outlook
The Group is confident that its momentum will
continue in the second half of the year and aims to maintain the
same level of operating margin as last year.The contract signing
with Interface Tourism, scheduled to close at the beginning of
2024, will enable Hopscotch to strengthen its European presence in
Spain, Italy, and the Netherlands, as well as its position in the
buoyant tourism and lifestyle sectors. Interface Tourism represents
around 10% of the Group's business, but has a higher operating
margin.
The year 2024 will be rich in major activities,
in sports and with the Paris Motor Show among others.
Discussions with the Vero Group are still
ongoing.
HOPSCOTCH Groupe will publish its results for
the 3rd quarter of 2023 on Thursday, November 2, after market
close.________
Shareholder Contact
Pierre-Franck MOLEY - Chief Executive Officer -
Tel. 01 41 34 20 56 - pfmoley@hopscotchgroupe.com
Press Contact
Jodie KNOEPFLER CONSCIENCE – Assistant to the
Management Board - Tel. 01 41 34 20 51 -
jodiekc@hopscotchgroupe.com
________
About HOPSCOTCH
HOPSCOTCH is an international communications
group founded in France, directed by its founders and its managers,
all guided by a business vision carried forward by the
complementarity of expertise. The credo of HOPSCOTCH? “Global PR”,
created around a unique mix of digital, event management,
influence, public relations and marketing services.
HOPSCOTCH brings together, at its Paris Hub, in
Lyon, in Lille, in Marseille and internationally more than 800
expert collaborators in all the communication skills: influence,
events, activation, digitalization, internal communications, public
affairs, marketing services…
Convinced that the value of an enterprise or
organization resides in the care given to its capital of human
relations, HOPSCOTCH structures its expertise around its own brand
“Hopscotch” (Events / PR / Travel / Décideurs / Congrès / Luxe /
Sport), and specialized agencies: AD crew, Alizeum, heaven,
Hopscotch Interface Tourism, Human to Human, Le Public Système
Cinéma, Le Public Système PR, Sagarmatha, Sopexa, Sport&Co and
Uniteam.
HOPSCOTCH today has an integrated international
network, with more than 30 offices spread over 5 continents,
allowing a capacity for intervention anywhere in the world.
Quoted on Euronext Growth Paris (Code ISIN :
ALHOP FR 00000 6527 8), in 2022 the group represents a turnover of
€246.9 million and a gross margin of €86.1 million.
Follow us : www.hopscotchgroupe.com / LinkedIn /
Twitter / Instagram @HOPSCOTCHgroupe
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