LUMIBIRD

First-half Earnings Marked by the Strengthening of Capacity

Regulatory News:

The LUMIBIRD Group (Paris:LBIRD), the European leader for laser technologies, significantly strengthened its production capacity during the first half of 2019, particularly for the Lidar Division. Following a challenging year from an industrial perspective in 2018, Lumibird is putting itself in a position to accompany growth in its markets, whose potential is still intact. The temporary contraction in its first-half operating margin is linked to the increase in production resources for the Lidar business to plan ahead for future growth, as well as the negative seasonal impact on the margin for defense and research contracts. The Medical Division is reporting very robust progress, with its operating income boosted by sales growth for products with higher margins.

The Group’s operating margin will be in line with expectations for the second half of 2019 and it is able to confirm its strategic targets for revenues of €150m (excluding external growth) and an EBITDA margin of over 20% for the full year in 2021.

Extract from the condensed half-year consolidated financial statements
approved by the Board of Directors on September 25, 2019

At June 30 (€m)	H1 2019	H1 2018 restated (1)	Change	IFRS 16 impact
Revenues	51.7	42.3	+22%
EBITDA	6.7	5.5	+22%	+0.8
Income from ordinary operations	2.6	2.8	-6.1%	-0.7
Pre-tax income	2.2	2.7	-19%	na
Net income	1.8	2.1	-14%	na

(1) H1 2018 reported financial data adjusted for the impact of the definitive allocation of the acquisition price for the Keopsys-Quantel business combination operation. The full-year earnings reported for 2018 already included these restatements.