ICAPE Group Announces Its Full-Year Revenue for 2023
Regulatory News:
The ICAPE Group (ISIN code: FR001400A3Q3 – Ticker: ALICA), a global technology distributor of printed circuit boards (“PCB”) and custom-made electromechanical parts, today announced its revenue for the 2023 financial year, ending December 31.
Yann DUIGOU, Chief Executive Officer of the ICAPE Group, stated: "2023 was marked by a sharp decline in the worldwide printed circuit board distribution activity due to the decline in global demand, an unfavourable impact on sales prices and the normalisation of our customers' inventories. This trend mechanically impacts our revenue target of €500 million in 2026, which we are postponing to the medium term. We remain fully committed to our growth trajectory, thanks to the relevance of our acquisitions policy. In addition, our robust financing capacity, which reflects the confidence of our banking partners, will cover our acquisition ambitions up to 2026. These factors, together with our stepped-up cost optimisation policy, enable us to reaffirm our targets for organic growth, external growth, and profitability by 2026. In this uncertain environment, we will be able to rely on ICAPE's unrivalled technological expertise in the PCB and technical parts supply chain, as well as on the rigorous management of our cost structure, coupled with the synergies generated by our recent acquisitions".
|
2022 restated IFRS* |
2023 restated IFRS*. |
Change (IFRS) |
Change on a like-for-like basis |
External growth |
Revenue in € million |
€219.6m |
€179.5m |
-18.3% |
-22.8% |
+4.5% |
2023 business activity below Group targets
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As of December 31, 2023, the Group’s revenue was €179.5 million, down 18.3% on 2022. The ICAPE business, dedicated to the distribution of PCB, accounts for more than 80% of full-year revenue, while the CIPEM business, dedicated to the distribution of custom-made electromechanical parts, accounts for 20%. At the end of December 2023, the ICAPE Group recorded a backlog of €50.9 million.