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LUMIBIRD Earnings Release 2022
1490_iss_2023-01-30_ab27d77b-76d1-40f5-a05d-7d6fb3de88a0.pdf
Earnings Release
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| Revenues (€m) | 2022 | 2021 | Reported change |
Change at constant scope and exch rates |
|---|---|---|---|---|
| First quarter | 38.0 | 33.8 | +12% | +11% |
| Second quarter | 46.0 | 4.1.7 | +10% | +7% |
| Third quarter | 40.9 | 37.2 | +10% | +4% |
| Fourth quarter | 66.0 | 49.8 | +32% | +22% |
| 12 months | 191.0 | 162.5 | +18% | +12% |
| of which | ||||
| Photonics | 93.5 | 76.3 | +23% | +13% |
| Medical | 97.5 | 86.2 | +13% | +11% |
1 Adjusted for the impact of Lumibird Photonics Sweden: €5.7m in 2022
| Revenues (M€) | Photonics | Var. | Medical | Var. |
|---|---|---|---|---|
| EMEA | 46.3 | +38% | 30.8 | +5% |
| Americas | 18.2 | +33% | 30.6 | +26% |
| APAC | 18.1 | -3% | 24.0 | +11% |
| Rest of the world | 10.9 | + 4% | 12.1 | +12% |
| llotal | 93.5 | +23% | 97.5 | +13% |
The breakdown of annual sales by division and by geographical area is as follows:
Données non auditées par les commissaires aux comptes
The Photonics Division recorded strong growth in Europe (+38%) and the United States (+26%), whilst sales declined slightly in China, where the zero COVID policy weighed on the economy.
The Medical division was more resilient in Asia (+11%); it recorded dynamic growth in the United States (+18%) and limited growth (+5%) in Europe, which was affected by the conflict in Ukraine. Annual sales in Ophthalmology were delivered through direct sales (€50m, up 11%) and the distributor network (€47.4m, up 15%) channels.
A record fourth quarter, at €66 million, up 32%.
The Photonics division experienced the strongest growth in the last quarter, at +49% with a revenue of €35.3m. Defence/Space activities, notably supported by the integration of Lumibird Photonics Sweden, recorded €14.6m revenue in Q4 (+167%), representing 49% of the €30.1m (+50%) annual revenue. The Industrial and Scientific business grew by 30% in Q4 to €11.1m, for an annual total of €37.4m (+10%). The Lidar business was stable at €9.6m in Q4 for a full year revenue of €26.0m (+16%). Lidar systems represented 34% of the Lidar business over the year and grew by 42%.
The Medical division recorded stable seasonal growth throughout the year and closed the last quarter up 17% at €30.7m. The division's sales are split between Diagnostics (€8.6m in the last quarter and €23.8m for the full year, up 28%) and Treatment (€22.1m in the last quarter and €73.7m for the full year, up 9%).
Outlook
In 2022, the group has implemented measures to combat supply chain and rising costs (high inflation) difficulties and invested in new sites (Göteborg, Courtabœuf, Lannion and Ljubljana) to increase production capacity from 2023 onwards to meet strong demand.
Profitability has been regained in H2 with a H2 2022 EBITDA margin of between 18% and 19%, a partial recovery from the drop in profitability experienced in H1 2022, with an estimated annual 2022 EBITDA of between €30 and €32m.2
In 2023, the Group confirms its objective to achieve organic revenue growth of 8-10% and an EBITDA margin in the range of 20% to 25%. The Group continues to be active on potential acquisition opportunities.
2 The information provided has not been audited as the audit work is ongoing.
LUMIBIRD COMMUNIQUE DE PRESSE
Next dates:
| 2022 FY results: | 14 March 2023 (after close of trading) |
|---|---|
| 2023 Q1 revenues: | 24 April 2023 (after close of trading) |
| Annual general meeting: | 28 April 2023, 14h00 (Les Ulis) |
| 2023 H1 revenues: | 24 July 2023 (after close of trading) |
| H1 results: | 26 September 2023 (after close 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 (ophthalmology, ultrasound diagnostic) markets.
Born from the combination of Keopsys Group with Quantel in October 2017, LUMBIRD has more than 940 employees and over €162 million of consolidated revenues in 2021 and is present in Europe, America and Asia.
LUMIBIRD shares are listed on the Euronext Paris B Compartment. FR000038242 — LBIRD www.lumibird.com Since 2022, LUMIBIRD is part of Euronext Tech Leaders
Contacts
LUMIBIRD Marc Le Flohic Chairman and CEO Tel. +33(0) 1 69 29 17 00 [email protected]
LUMIBIRD Aude Nomblot-Gourhand Secretary General — CFO Tel. +33(0) 1 69 29 17 00 [email protected]
Calyptus Mathieu Calleux Investors Relations Tel. +33(0) 1 53 65 37 91 [email protected]
