Lumibird

2020 Full-Year Revenues in Line With Expectations at €126.7m - Seite 2

² Including Ellex at January 1, 2020

The LUMIBIRD Group’s full-year consolidated revenues for 2020 climbed to €126.7m, up 14.4%. Like-for-like and at constant exchange rates (restated for the acquisitions of Ellex at June 30, 2020, the Essmed Group at July 31, 2020, Optotek Medical at August 31, 2019 and Halo Photonics at December 24, 2019), they are down -9.7% to €100.0m. Including Ellex’s laser and ultrasound activities at January 1, pro-forma 2020 revenues represent €146.4m.

The Group is reporting record fourth-quarter revenues of €48.2m, factoring in the contribution from new activities (€13.2m) and positive organic growth (+2.1%) for the first time in the year, against the backdrop of the health and economic crisis. Like-for-like and at constant exchange rates, the Medical division came in stable for the last quarter (-0.5%), while the Photonics division achieved 3.7% growth.

With a more detailed analysis, the Industrial and Scientific business continued to be penalized by the closure of many universities and research laboratories, with a 4.4% contraction for the quarter. The Defense / Space business returned to growth (+3.8%), reflecting the combined impact of the planned scaling down of the MegaJoule contract that began in the fourth quarter of 2019 and the ramping up of both new contracts and the non-contracts business. The Lidar Sensors business benefited from the integration of Halo Photonics (€1.8m for the quarter), as well as 14.7% organic growth for the last quarter.

Despite the restrictions introduced with the health crisis, the integration of Ellex and the development of commercial and industrial synergies have moved forward as planned, with sales for the new combined structure in line with the budget set, including operations in the United States.

LUMIBIRD is approaching 2021 with confidence, backed by an extensive order book, confirming the upturn on the Group’s various markets.

Looking ahead to 2023, the Group plans to continue moving forward with its combined organic and external growth strategy with a view to doubling its current revenues (reported basis). Building on its buoyant markets, its capacity for innovation and the impact of its commercial synergies, it is targeting 8% to 10% average organic growth over the next three years.