SergeFerrari Group Announces its Q3 2022 Revenue
19 Octobre 2022 - 5:45PM
Business Wire
- Continued revenue growth in a complex environment
- 2022 revenue target confirmed at €335m
Regulatory News:
SergeFerrari Group (FR0011950682 - SEFER) (Paris:SEFER), a
leading global supplier of innovative flexible composite materials
under the Serge Ferrari and Verseidag brands, listed on Euronext
Paris - compartment C, today announced its revenues for Q3 2022 and
for September 30, 2022.
Revenue breakdown by region (unaudited)
(€’000)
Q3 2022
Q3 2021
Ch. at
current scope and exchange
rates
Ch. at constant scope and
exchange rates
9 months
2022
9 months
2021
Ch. at
current scope and exchange
rates
Ch. at constant scope and
exchange rates
Northern Europe
31,913
27,083
+17.8%
+7.3%
95,933
83,014
+15.6%
+11.6%
Southern Europe - Americas
32,933
29,983
+9.8%
+6.9%
113,404
98,425
+15.2%
+13.8%
Asia – Africa – ME – Pacific
14,831
13,126
+13.0%
+7.1%
40,380
33,462
+20.7%
+14.8%
Total revenues
79,676
70,192
+13.5%
+7.1%
249,716
214,901
+16.2%
+13.1%
Sébastien Baril, Chairman of the SergeFerrari Group’s
Executive Board, commented: “In Q3 2022, in a more volatile
environment, SergeFerrari Group has shown the relevance and
efficiency of its business model. Our key positioning and our
recent acquisitions in high-potential businesses will be essential
to continue our momentum. The current economic and geopolitical
uncertainties are an incentive to pursue our strategy of
innovative, efficient and profitable growth. During Q4 2022, we
will strengthen our ability to meet demand better and faster with
optimised customer service to continue to win market share. “
Q3 2022 revenues of €79.6 million
Revenue for the Q3 2022 amounted to €79.6m, up 13.5% at current
consolidation scope and exchange rates and 7.1% at constant
consolidation scope and exchange rates, despite a high basis of
comparison (Q3 2021 saw growth of 30.1% compared to Q3 2020).
This increase in revenue is the result of:
- The application of price increases made in 2022 because of raw
material and energy inflation. Over the quarter, the price-mix
effect thus contributed to sales growth of +17.4% (or €12.2
million);
- The very favourable exposure of the Group's sales to
international markets, resulting in a positive currency effect of
€2.0m and a +2.9% contribution to sales growth;
- The continuation of external growth operations with the first
integration in the Q3 2022 of the sales of Baltijos Tentas
(distributor, in particular, of Verseidag products in the Nordic
countries, consolidated since 1 July 2022) and of companies active
in biogas (MSE and DCS) consolidated since 1 August 2022. All the
changes in the scope of consolidation apply to the Northern Europe
zone, which contributed €2.5 million to turnover, i.e. a
contribution of +3.5% to turnover growth;
- A negative volume effect of 10.3%, resulting from the context
of pressure on industrial and logistics capacities. The Group has
recruited its Supply Chain Director, who will arrive in September
2022, whose mission will be to improve customer service, the
transformation of the order book into revenue and the optimisation
of internal workflows linked to the recent changes in the Group's
scope.
Activity as of September 30, 2022: revenues of €249.7
million
In the first nine months of 2022, the Group generated sales of
€249.7m, up 16.2% at a current consolidation scope and exchange
rate basis and 13.1% at constant consolidation scope and exchange
rates.
At constant scope of consolidation and exchange rates, sales
growth was very uniform across the Group's business areas:
- The Northern Europe region posted a 15.6% increase in
revenue compared to 2021 at current consolidation scope and
exchange rates and an 11.6% increase at constant consolidation
scope and exchange rates. Demand was particularly strong in Poland
and the Nordic countries;
- The Southern Europe - Americas region recorded an
increase in revenue of +15.2% at current scope and exchange rates
and +13.8% at constant scope and exchange rates. France and Turkey
stand out in 2022;
- The Asia-Pacific-Middle East-Africa region achieved a
20.7% increase in revenue at current consolidation scope and
exchange rates and a 14.8% increase at constant consolidation scope
and exchange rates. This growth was driven by the interruption of
confinements in China and the good performance of sales in
India.
Over the first nine months of the year, the price mix effect
contributed +17.1% to growth, the effect of the change in exchange
rates +2.0% and the scope effect 1.1%. The volume effect was -4.0%
based on a record year in 2021.
Outlook
SergeFerrari Group confirms its 2022 annual revenue target of
€335m. In addition, its development plan is based on winning market
share, improving its industrial and operational efficiency and the
innovative nature of its products as a primary differentiating
factor. In this regard, SergeFerrari Group is finalising the launch
of products that respond to the new environmental issues of its
customers with fabrics made of natural fibres or entirely recycled
materials, thus preparing for the growth of tomorrow.
Next financial communication
- 2022 annual revenues will be published on 19 January
2022, after market
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). SergeFerrari Group shares are 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/20221019005734/en/
SergeFerrari 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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