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LUMIBIRD — Earnings Release 2018
Jan 28, 2019
1490_iss_2019-01-28_a15aff15-ec9f-4ea7-818b-48d2a5206aa1.pdf
Earnings Release
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| Revenues $(\epsilon m)$ | $2017^{(1)(2)}$ pro forma |
2018 | Variation |
|---|---|---|---|
| First quarter | 18.8 | 17.9 | $-4,9%$ |
| Second quarter | 21.6 | 24.4 | $+13%$ |
| Third quarter | 17.4 | 23.2 | $+33%$ |
| Fourth quarter | 27.2 | 35.4 | $+30,1%$ |
| 12 months | 85.1 | 100.9 | $+18,5%$ |
| Of which | |||
| Industrial and Scientific | 25.3 | 25.7 | $+1,5%$ |
| Lidar Sensors | 11.5 | 15.4 | $+33,8%$ |
| Defense/Space | 16.7 | 26.2 | $+56,9%$ |
| Medical | 31.6 | 33.6 | $+6,3%$ |
(1) Proforma information based on the assumption that the QUANTEL/KEOPSYS business combination took place on January 1, 2017
(2) 2017 revenues redistributed according to the new segmentation
Industrial and Scientific
Following a slowdown in business at the start of the year due to sourcing delays, the Industrial and Scientific division achieved 1.5% growth in 2018, with revenues of €25.7m, versus €25.3m in 2017. The division's new scope, which excludes defense and aerospace-related activities, groups together industrial activities, particularly for the flat screen sector, as well as lasers for scientific laboratories, a stable and resilient business.
Lidar Sensors
The Lidar Sensors division closed out the year with revenues of $\epsilon$ 15.4m, up 33.8%. Business continued to grow in the fourth quarter, generating revenues of $\epsilon$ 5.3m, driven by very buoyant levels of demand in the wind energy, 3D mapping and autonomous vehicle sectors. Lumibird is continuing to progressively ramp up its production capacity to take this strong demand on board.
Defense / Space
The Defense / Space division grew 56.9% in 2018, generating €26.2m of revenues, compared with a higher basis for 2017 (€16.7m vs €12.6m reported last year) due to the segmentation change. The division achieved record revenues in the fourth quarter, up 115% to €11.8m. The aerospace activities, notably contracts with the European Space Agency (ESA), are now included in the Defense / Space division, and their robust development accounts for part of the increase in revenues. Alongside this, the completion and delivery schedules for the MegaJoule and military contracts generated high levels of billing in the fourth quarter.
Medical
The Medical division recorded $\xi$ 33.6m of revenues in 2018 (+6.3%), with $\xi$ 10.3m in the fourth quarter (+9.8%). Growth is being driven by the success of the major new products launched in 2018, such as the Compact Touch 2, LacryDiag or Supra 810, as well as the extension of the geographical markets covered across the entire range.
Outlook
The strong revenue growth over the second half of 2018 ( $\epsilon$ 58.6m vs $\epsilon$ 42.3m in H1) will mechanically have a positive impact on earnings for the year. The Lidar Sensors, Defense and Medical sectors are continuing to show buoyant trends, and the Lumibird Group has key positions on them, with competitive, high-performance products and a reputation for quality, all positive factors that will support the Group's ambition over the coming years. Lumibird is setting itself strategic targets to achieve €150m of revenues (excluding external growth) and an EBITDA margin of over 20% by 2021.
Next date: 2018 full-year earnings on April 2, 2019 (before start of trading)
LUMIBIRD is one of the world's leading specialists in lasers. With 50 years of experience and a mastering of solid state laser, laser diodes and fiber laser technologies, the Group designs, manufactures and markets high performance lasers for scientific
(laboratories and universities), industrial (manufacturing, defense, Lidar sensors) and medical
Born from the combination of Keopsys Group with Quantel in October 2017, LUMIBIRD has more than 400 employees and over €100 million of revenues and is present in Europe, America and Asia.
LUMIBIRD shares are listed on the Euronext Paris C Compartment. FR0000038242 - LBIRD www.lumibird.com
Contacts
LUMIBIRD Marc Le Flohic Chairman and CEO Tel. +33(0) 1 69 29 17 00 [email protected]
LUMIBIRD Pierre Vallalta Chief Financial Officer Tel. +33(0) 1 69 29 17 00 [email protected]
Calyptus Mathieu Calleux Investors Relations Tel. +33(1) 53 65 37 91 [email protected]