2022 Revenue Report
- Revenue up +11.6% in the fourth quarter of 2022
- Governance changing to reflect the geographic rebalancing of
activities
- Record-breaking orders of nearly €920 million during the
year
- Ambition to exceed €1 billion in revenue for 2023
- Confirmation of long-term growth prospects thanks to excellent
dynamics in the group’s markets, especially in the Benelux and
other countries.
In millions of euros |
12 months |
Q4 |
2022 |
2021 |
% change |
2022 |
2021 |
% change |
Total |
903.0 |
874.0 |
+3.3% |
246.1 |
220.5 |
+11.6% |
From France |
425.4 |
507.3 |
-16.1% |
106.8 |
115.4 |
-7.5% |
From Benelux |
222.0 |
160.4 |
+38.4% |
69.9 |
46.2 |
+51.3% |
From Other Countries |
255.5 |
206.3 |
+23.9% |
69.4 |
58.9 |
+17.9% |
There was a return to more dynamic
growth at the end of the year, driven by an uptick in activity in
the Benelux
Solutions 30 ended 2022 with a return to
more dynamic growth and an 11.6% increase in quarterly revenue
compared to the same period in 2021 (+10.1% organic growth). In
2022, Solutions 30’s consolidated revenue amounted to
€903.0 million, up +3.3% (+1.2% organic growth).
Throughout the year, Solutions 30 continued
the operational transition of its activities in France, while other
geographic markets saw more favorable trends. Orders for the year
amounted to nearly €920 million, an historic high.
In such a context, and with the macroeconomic
backdrop of rising inflation, Solutions 30 took action to:
- Develop new, fast-growing activities, especially in the buoyant
energy sector where demand will remain strong, driven by the major
challenges of energy independence, the transition to new energies,
and the electrification of vehicles.
- Strengthen its central position in the mature French telecoms
sector.
- Negotiate price increases with customers to cover the impact of
inflation, a process that is ongoing in France.
- Actively manage group cash flow to finance fast ramp-ups for
recently signed and upcoming contracts.
- Strengthen synergies between various activities and reassign
technicians to activities with greater potential.
- Review the group’s sales strategy and value proposition to
focus on three market segments: connectivity solutions (solutions
focused on connectivity and corresponding to the former “telecoms”
business), energy solutions (solutions focused on the energy sector
and corresponding to the former “energy” business), and technology
solutions (solutions focused on digital technology and including
all other group businesses related to IT, security, retail, and
connected health).
Revenue by region
France: In the fourth quarter
of 2022, Solutions 30 had revenue of €106.8 million, down
7.5% compared to the fourth quarter of 2021, but a clear
improvement on the 9-month trend.
Connectivity solutions (formerly telecoms
business) stabilized, with revenue reaching €76.2 million,
down slightly by 3.5%. After record activity during the COVID
crisis, which accelerated the roll-out of ultra-fast connections in
France, the market returned to more normal activity levels as the
year went on. At the same time, the operational conditions of our
contracts became more and more of a challenge, made worse by
current inflationary pressures. Price renegotiations were
undertaken with major clients, but they are still ongoing. This
will have repercussions for the industry as a whole, with some
players likely to fail, possibly leading to a new phase of
consolidation in the sector.
Revenue from energy solutions amounted to
€11.8 million, compared with €16.8 million a year
earlier. This decline of 30.1% is due to the end of smart
electricity meter deployments in France (activity down 71%).
Revenue from new activities related to the energy transition and
electric mobility has not yet made up for decreased revenue from
historic activities.
Technology solutions (formerly IT and others)
generated €18.8 million in revenue, compared to
€19.6 million one year earlier. Revenue from IT services
remained stable, while that from payment services was down and that
from installing connected objects and security equipment rose
significantly.
Over the course of the year, revenue in France
reached €425.4 million, down 16.1%.
Benelux: Revenue for the fourth
quarter of 2022 was €69.9 million compared to
€46.2 million a year earlier, representing a rise in pure
organic growth to 51.3% and reflecting the excellent dynamics of
the Belgian and Dutch markets.
Connectivity solutions (formerly Telecoms
business) grew 57.4% thanks to fast ramp-ups for fiber-optic
contracts in Belgium and the Netherlands. Revenue rose to
€52.9 million in the last quarter of 2022, compared to
€33.6 million one year earlier.
Revenue from energy solutions amounted to
€12.5 million, compared with €8.6 million a year earlier,
representing purely organic growth of 45.2%. This business
benefited from the roll-out of smart meters in Flanders and was
also boosted by a significant increase in charging station
installations over the quarter.
Revenue from technology solutions (formerly IT
and others) was up 12.8% to €4.4 million, compared to
€3.9 million in Q4 2021.
During 2022 as a whole, revenue from the Benelux
region broke the €200 million barrier, reaching
€222.0 million, compared to €160.4 million one year
earlier, with 38.4% purely organic growth.
In all other countries, the
group posted quarterly revenue of €69.4 million, an increase
of 17.9% (12.2% organic growth) compared to the same period in
2021.
In Germany, revenue amounted to
€16.1 million compared to €16.5 million the previous
year.
In Italy, revenue grew by 28% in the fourth
quarter of 2022, reaching €18 million, driven by ultra-fast
infrastructure deployments, which began in the first quarter of
2021.
On the Iberian peninsula, revenue grew by 6% to
€15.4 million, thanks to positive dynamics in the
telecommunications sector (fiber and 5th generation mobile
networks), a strong uptick in installations of charging stations
for electric vehicles, and pricing increases obtained from several
customers.
In Poland, the group generated
€11.2 million in revenue, an increase of 48% (35% organic
growth) thanks to the start of a new contract with Orange covering
the Warsaw region. Solutions 30 is continuing to increase its
market share in Poland, while also integrating Sirtel into its 5G
network portfolio under favorable conditions.
Finally, in the United Kingdom,
Solutions 30 posted €8.8 million in revenue during the
quarter, up 42% (+3% organic growth).
Revenue across all of these countries amounted
to €255.5 million in 2022, an increase of 23.9% (14.8% organic
growth) compared to 2021.
Appointment: Wojciech Pomykała joins the
Solutions 30 Management Board as Chief Operations Officer in
charge of Transformation.
Over the course of 2021 and 2022,
Solutions 30 has significantly strengthened its governance,
risk management, and compliance processes. As the group enters the
second stage of its transformation, Wojciech Pomykała joins the
Solutions 30 Management Board as Chief Operations Officer in
charge of Transformation, effective February 1, 2023. In this
position, he will steer operational organization in sync with
promising areas of development for the group, in particular its
strong growth in the telecom market outside France.
He will be replacing Franck D’Aloia, Chief
Operations Officer in charge of Integration, who oversaw the
integration of acquired companies and supervised changes to
Solutions 30’s organization and processes. Solutions 30
thanks him for his commitment and hard work.
Wojciech Pomykała has more than 22 years of
experience in operations and sales for companies in the
telecommunications and energy industries. He started his career at
Siemens – now Nokia Siemens Network – as a project manager, then
sales manager, before being put in charge of services development
for the Polish operator Polkomtel. He then joined the PGE,
the leading electricity supplier in Poland, as CIO/CTO of the
shared services subsidiary PGE Systemy, where he set up centralized
processes for their IT and telecom activities. He moved within the
group, becoming CEO of the subsidiary Exatel, a fixed telecom
operator, to implement a business turnaround strategy. In 2015, he
was appointed as country manager of Detecon International in
Poland, a subsidiary of Deutsche Telekom, and then held several
positions as chief executive officer and supervisory board member
in the energy sector before joining Solutions 30 in 2019 to
launch and develop the group’s business in Poland.
Wojciech Pomykała is a graduate of Wrocław
University of Science and Technology in Poland (Master of Science,
electronics and telecommunications, postgraduate, digital
telecommunications), also holding an executive MBA from Kozminski
University (Poland, 2008) and the Harvard Business School General
Management Program (USA, 2011).
Commenting on the appointment, Gianbeppi Fortis,
CEO of Solutions 30, said: “I welcome Wojciech to the management
board. His appointment reflects the growing magnitude of our
activities outside France and the new European dimension of our
company. Since 2019, Wojciech has been working on the successful
deployment of our business in Poland, and has participated in many
cross-functional projects to strengthen our operational efficiency.
His extensive experience in the telecommunications industry, his
dedication, thoroughness, and determination are all assets that
will help us succeed in the second phase of our transformation and
accelerate our growth outside France, in line with our
ambitions.”
Outlook
2022 was marked by shifts in the geographic
balance of our business, with markets outside of France driving
group growth as operations within France were forced to adapt. The
complete financial information for the year will be published on
April 20th, after market close. The EBITDA margin should remain
under some temporary pressure, due to (1) ramp-ups during the
second half of the year, to (2) price renegotiations that concluded
later than expected, and to (3) the impact of increasingly
difficult operational conditions for performing contracts in the
French telecoms sector.
With strong sales throughout the year and 2022
ending on a promising note, the Group confirms double-digit growth
in 2023, which will allow to exceed the €1 billion milestone
in revenue. Growth will continue to depend on momentum in markets
outside of France, especially fiber-optic roll-outs in the Benelux
and in new markets, such as Germany and the United Kingdom. In
France, the group will focus on consolidation in the
telecommunications sector and on the development of new markets
related to the energy transition.
The group has solid growth drivers and an
effective business model that will help it strengthen its position
at the crossroads of the digital transformation and the energy
transition. Solutions 30 hopes to reach €2.5 billion in
revenue over the medium term. To finance this growth, the group has
a sensible financial policy in place, with the goal of maximizing
cash flow and making it possible to self-finance increases in
working capital while maintaining a low-debt balance
sheet.
Financial Information Publication
Schedule
2022 Annual Report: April 20, 2023
2023 Q1 Revenue Report: May 10, 2023
Annual Shareholders Meeting: June 16,
2023
2023 Q2 Revenue Report: July 25, 2023
2023 HY Earnings Report: September 21,
2023
2023 Q3 Revenue Report: November 8,
2023
2023 Revenue Report: January 24, 2024
About Solutions 30
SE
The Solutions 30 group is the European
leader in solutions for new technologies. Its mission is to make
the technological developments that are transforming our daily
lives accessible to everyone, individuals and businesses alike.
Yesterday, it was computers and the Internet. Today, it’s digital
technology. Tomorrow, it will be technologies that make the world
even more interconnected in real time. With more than
50 million call-outs carried out since it was founded and a
network of more than 15,000 local technicians, Solutions 30
currently covers all of France, Italy, Germany, the Netherlands,
Belgium, Luxembourg, the Iberian Peninsula, the United Kingdom, and
Poland. The share capital of Solutions 30 SE consists of
107,127,984 shares, equal to the number of theoretical votes
that can be exercised.Solutions 30 SE is listed on the
Euronext Paris exchange (ISIN FR0013379484- code S30). Indexes:
MSCI Europe ex-UK Small Cap | SBF 120 | CAC Mid 60 | NEXT 150
| CAC Technology | CAC PME. Visit our website for more information:
www.solutions30.com
Contact
Individual Shareholders:Tel: +33 1 86 86 00 63 -
shareholders@solutions30.com
Analysts/Investors:Nathalie Boumendil - Tel: +33
6 85 82 41 95 - nathalie.boumendil@solutions30.com
Press - Image 7:Charlotte Le Barbier - Tel:
+33 6 78 37 27 60 - clebarbier@image7.frLeslie Jung - Tel: +33 6 78
70 05 55 - ljung@image7.fr
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