SergeFerrari Group Posts Q1 2022 Revenues of €79 Million, up 23.4%
20 Avril 2022 - 5:45PM
Business Wire
- Robust business momentum continues in Q1 2022
- 2022 revenue target raised to €325 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 Q1 2022.
Revenue breakdown by region (unaudited)
(€’000)
Q1 2022
Q1 2021
Ch. at current scope and exchange
rates
Ch. at constant scope and
exchange rates
Northern Europe
30,902
24,439
+26.9%
+26.0%
Southern Europe – Americas
37,232
29,417
+26.6%
+26.5%
Asia – Africa – ME – Pacific
10,928
10,299
+6.1%
+1.8%
Total revenues
79,062
64,065
+23.4%
+22.4%
Sébastien Baril, Chairman of the SergeFerrari Group Executive
Board, said: “For the first quarter of 2022, SergeFerrari Group
posted sustained business volumes in line with previous quarters.
We are leveraging an innovative product offering that meets market
requirements and trends in favor of light, sustainable components
amid continuing positive trends at this stage of the year. Although
the health situation remains uncertain, we are approaching the rest
of the year with confidence thanks to our relationships with
customers and partners, for whom our primary aim is to preserve the
quality of our products and services against a backdrop of
inflation and pressure on industrial equipment capacity.”
Q1 2022 performance
SergeFerrari Group’s first quarter revenues for 2022 totaled
€79.1 million, up 23.4% at current consolidation scope and exchange
rates and up 22.4% like-for-like versus the first quarter of 2021.
This performance was due to strong sales momentum in most of the
Group’s strategic markets, a favorable comparison base due to the
easing of health restrictions versus the first quarter of 2021 and
a positive price impact for the period. The increase in volumes
contributed 8.1% to the increase in revenues, while exchange rate
fluctuations had a positive impact of 1.0%.
All regions posted strong first quarter sales:
- Northern Europerecorded brisk sales, up 26.9% at current
consolidation scope and exchange rates and up 26.0% at constant
consolidation scope and exchange rates.
- Southern Europe – Americas also posted robust growth
with revenues up 26.6% at current consolidation scope and exchange
rates and up 26.5% at constant consolidation scope and exchange
rates.
- Asia-Pacific – Middle East – Africa sales were up 6.1%
at current consolidation scope and exchange rates and up 1.8% at
constant consolidation scope and exchange rates. Slower growth in
this region was due to lockdown measures in Asia and the deferred
resumption of major infrastructure projects.
In a market that remained buoyant overall despite health
restrictions and inflationary pressure, individual business line
performance confirmed the Group’s strategic positioning:
- the modular structures market is enjoying sustained
demand as event-based projects are gradually resumed;
- solar protection continues to post growth based on
strong demand in the residential sector;
- tensile architecture remains impacted by the resurgence
of health concerns, particularly in Asia;
- furniture and marine markets continue to post positive
momentum.
Outlook
The Group has raised its FY 2022 revenue target from €310
million to €325 million in view of the impact that inflationary
pressure on raw material and energy costs will have on its selling
prices.
Financial calendar
- Annual General Meeting: Tuesday, May 17,
2022, 3:00pm CEST, headquarters - Publication of H1 2022
revenues on Wednesday, July 20, 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 2021, Serge Ferrari posted consolidated revenues
of €285.9 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/20220420005695/en/
Ferrari Group Philippe Brun Executive Board Member
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
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