- Revenue level above revised target
- Sustained level of business in Q4 2021
- 2022 revenue target of around €310 million
Regulatory News:
SergeFerrari Group (FR0011950682 - SEFER) (Paris:SEFER) is a
leading global supplier of innovative flexible composite materials
under the Serge Ferrari and Verseidag brands and is listed on
Euronext Paris – Compartment C. The Group today announces its
revenues for Q4 2021 and consolidated revenues for the 12 months
ended December 31, 2021.
Revenue breakdown by region (unaudited)
(€’000)
Q4 2021
Q4 2020
Ch. at current scope and exchange
rates
Ch. at constant scope and
exchange rates
FY 2021
FY 2020
Ch. at current scope and exchange
rates
Ch. at constant scope and
exchange rates
Northern Europe
28,381
22,231
27.7%
27.1%
111,395
73,531
51.5%
25.2%
Southern Europe – Americas
29,143
25,445
14.5%
14.7%
127,568
88,391
44.3%
34.0%
Asia – Africa – ME – Pacific
13,457
13,992
-3.8%
-4.7%
46,919
33,379
40.6%
16.0%
Total revenues
70,981
61,668
15.1%
14.7%
285,882
195,301
46.4%
27.6%
Sébastien Baril, Chairman of the SergeFerrari Group Executive
Board, said: “In 2021, SergeFerrari Group capitalized on a
market that was once again buoyant following the lockdowns in 2020
and on its renewed focus on its four strategic business lines, to
achieve a year of strong growth. The new sales structure also
proved its effectiveness, while the procurement and production
teams demonstrated the necessary agility to ensure that procurement
constraints and industrial plant loads did not hinder sales. As a
result, the Group is heading into 2022 with a solid base to pursue
growth in a market that is generally well positioned, despite a
continuing fragile health context and inflationary
environment.”
Continued strong performance in Q4 with
growth of 15%
At current scope and exchange rates, SergeFerrari Group fourth
quarter sales rose 15.1% versus 2020, and 14.7% at constant
consolidation scope and exchange rates. The continued excellent
sales momentum over the quarter was driven by a sustained level of
demand across all of the Group's business lines.
Sales in the Northern Europe region were up 27.7% at
current consolidation scope and exchange rates, and 27.1% at
constant consolidation scope and exchange rates.
Sales in the Southern Europe – Americas region also
performed extremely well, posting growth of 14.5% at current
consolidation scope and exchange rates and 14.7% at constant
consolidation scope and exchange rates.
Sales performance in the Asia – Africa – ME – Pacific
region was down slightly (-3.8% at current consolidation scope and
exchange rates and -4.7% at constant consolidation scope and
exchange rates). The moderate slowdown in this region is mainly due
to the postponement of certain Verseidag tensile architecture
projects in the Middle East, which could not be offset as the
lockdown measures implemented in certain countries temporarily
slowed growth momentum in the Asia region.
Strong business growth in 2021: revenues
of €285.9 million
The Group posted 2021 revenues of €285.9 million, up 46.4% at
current consolidation scope and exchange rates and up 27.6% at
constant consolidation scope and exchange rates.
In 2021, the three operating regions posted excellent
performances:
- Northern Europe reported year-on-year revenue growth of
51.5% at current consolidation scope and exchange rates and 25.2%
at constant consolidation scope and exchange rates;
- Southern Europe – Americas posted revenues up 44.3% at
current consolidation scope and exchange rates and up 34.0% at
constant consolidation scope and exchange rates;
- Asia-Pacific – Middle East – Africa recorded revenue
growth of 40.6% at current consolidation scope and exchange rates
and 16.0% at constant consolidation scope and exchange rates.
Currency fluctuations during the year curbed revenue growth by
1.4%.
Outlook
In 2022, within a favorable economic environment, however one in
which the price of materials and energy continues its upward trend,
SergeFerrari will focus on maintaining profitability and the
quality of service to customers. SergeFerrari Group is targeting
2022 sales of around €310 million.
Outcome of voting at the Combined General
Meeting of January 25
All of the resolutions supported by the Board of Directors were
adopted by the shareholders at the January 25, 2022 General
Meeting.
SergeFerrari Group has adopted a two-tier governance structure
with an Executive Board and Supervisory Board
Sébastien Ferrari, Chairman of the SergeFerrari Group
Supervisory Board, commented: “2021 will have been a year of
significant development for Serge Ferrari, and I would like to
thank all of the Group's teams for the performance achieved during
what will be my last year heading up the operational management of
the family business. As Chairman of the Supervisory Board, and
together with other members of the family and the Board, I will
continue to oversee the Group’s development, as managed by the
Executive Board, who have an in-depth knowledge of the Group and
have made a significant contribution to its growth in recent years.
At the end of 2021, SergeFerrari Group has returned to sustained
growth, compensated for the consequences of the health crisis on
its business volumes, integrated two structuring acquisitions,
begun streamlining its industrial structure and strengthened its
governance. The Group is building momentum and is ideally
positioned to achieve its medium-term goals.”
Financial calendar
- Publication of 2021 results on Thursday, March 3, 2022
after market close
ABOUT SERGEFERRARI GROUP
Marketing its products under two brands, Serge Ferrari and
Verseidag, the Serge Ferrari Group is a leading global supplier of
composite materials for Tensile Architecture, Modular Structures,
Solar Protection and Furniture/Marine, in a global market estimated
by the Company at around €6 billion. The unique characteristics of
these products enable applications that meet the major technical
and societal challenges: energy-efficient buildings, energy
management, performance and durability of materials, concern for
comfort and safety together, opening up of interior living spaces
etc. Its main competitive advantage is based on the implementation
of differentiating proprietary technologies and know-how. The Group
has manufacturing facilities in France, Switzerland, Germany, Italy
and Asia. Serge Ferrari operates in 80 countries via subsidiaries,
sales offices and a worldwide network of over 100 independent
distributors.
In 2020, Serge Ferrari posted consolidated revenues of €195.3
million, over 80% of which was generated outside France. The
SergeFerrari Group share is listed on Euronext Paris – Compartment
C (ISIN: FR0011950682). The SergeFerrari Group share is eligible
for the French PEA-PME and FCPI investment schemes.
www.sergeferrari.com
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version on businesswire.com: https://www.businesswire.com/news/home/20220125005791/en/
Serge Ferrari Philippe Brun Chief Financial
Officer Valentin Chefson Investor Relations
investor@sergeferrari.com
NewCap Investor Relations – Financial
communication Théo Martin / Quentin Massé Tel: +33(0) 1 44 71
94 94 sferrari@newcap.eu
Sergeferrari (EU:SEFER)
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