Highco

Q1 2021 Gross Profit - Seite 2

2021 2020 LFL Q1 15.98 15.30 +4.5% 86.0%

With healthy growth of 4.5%, France posted gross profit of €15.98 M in Q1 2021, representing 86% of the Group’s gross profit. Digital businesses rose 4.6%, and their share represented 62.8% of gross profit. This growth is mainly driven by a sharp increase in digital coupon issuance, which doubled on Click & Collect websites. Furthermore the number of coupons cleared using paperless systems rose significantly over the quarter compared with the same period in 2020 (up 63%).

International: decline in business

INTERNATIONAL	Gross Profit (in € M)		2021/2020 LFL change	% Total gross profit
	2021	2020 LFL
Q1	2.61	2.90	-10.1%	14.0%

International gross profit dropped 10.1% like for like to €2.61 M in Q1 2021, i.e. 14% of the Group’s gross profit. In Belgium, gross profit fell 11.1%. The share of Digital of Belgian businesses represented 56.1% of gross profit. Down slightly by 1.4%, business in the Group’s other countries is on a better trend and accounts for 1.7% of the Group’s gross profit.

GROWTH IN Q2 2021 EXPECTED BETWEEN 6% AND 8%; 2021 GUIDANCE CONFIRMED

With a strong rise forecast for April, business in Q2 is expected to show growth between 6% and 8%, including:

• double-digit growth in Mobile businesses;
• a significant increase in the number of coupons cleared in France;
• a business recovery in Belgium.
  
  

In light of the good performance reported in Q1 2021 and the outlook expected for the months to come, the Group has confirmed its guidance for 2021:

• A return to growth in gross profit (2020 gross profit: €74.16 M);
• Rise in adjusted operating margin (adjusted headline PBIT/gross profit) to more than 17% (2020 adjusted operating margin: 16.4%).

HIGHCO VENTURI STARTUP STUDIO: UPDATE ON INNOVATIVE RETAIL TECH PROJECTS

The Group reiterates that, through its startup studio HighCo Venturi, it is advancing in its innovation strategy to create its growth drivers and the solutions that the market needs.
With access to human and financial resources, HighCo Venturi chose to give priority to digitising two main promotional tools, discount coupons and flyers:

• For mobile discount coupons:
  • Develop the first universal mobile coupon recognised by check-out systems at all points of sale, the necessary first step to launching mobile coupons in large food retail chains; operational launch already complete in about 30 French pharmacies, with a target to roll out the solution to more than 2,000 connected pharmacies by the end of 2021;
  • Build a platform to issue personalised mobile coupons.
• For digital flyers: Launch a platform where food e-commerce retailers can digitise their commercial and promotional communication content, thereby offering them a valid alternative to paper flyers.

2020 ANNUAL FINANCIAL REPORT AND 2021 ANNUAL GENERAL MEETING