Lacroix Group

First semester 2019-2020. Stability of the business despite significant impact from the health crisis from March onwards.

First semester 2019-2020
Stability of the business despite significant impact
from the health crisis from March onwards

Turnover in euros millions	First semester 2019/2020	First semester 2018/2019	Change
LACROIX Electronics	155 825	162 762	-4,3%
LACROIX City	48 935	50 081	-2,3%
LACROIX Environment	33 961	26 110	30,1%
Total LACROIX Group	238 720	239 016	-0,1%
Of which secand quarter	113 371	122 564	-7,5%

LACROIX Group (LACR - FR0000066607), international technological equipment supplier, records turnover of €238.7 m for the first semester 2019-2020 (from 1st October 2019 to 31 March 2020), stable in comparison with the same period for the fiscal year 2018-2019. At constant scope, the business shows a downturn of 3.5%.

After an increase of 7.6% for the first quarter and a growth trajectory superior to 6% for January-February, fully in line with expectations, the health crisis has led to a significant and rapid downturn in business from March onwards. This impact is reflected in the evolution of turnover for the second quarter, which is in decline by 7.5% in comparison to the same period 2018-2019. The Group therefore estimates business losses in relation to this exceptional crisis at about €17 m by the end of March.

Naturally, all activities are affected by the situation. Over the semester, LACROIX Electronics records turnover for €155.8 m, a drop of 4.3%. Following an increase at the beginning of the fiscal year that confirmed the reboot of activity in Poland and a return to regular operating conditions in Tunisia, momentum was interrupted with a decrease of 12.9% in turnover for the second quarter.

For LACROIX City, the activity is holding up better with half-year turnover slipping by 2.3% (3.5% at constant scope) to €48.9 m, including a second quarter in decline by 3.2%.

Finally, for LACROIX Environment, half-year turnover amounts to €33.9 m, an increase of 30.1% as a result of the integration of SAE-IT Systems purchased in February 2019. At constant scope, growth for this activity emerges at 1.6% for the entire semester.