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Lannion, April 26, 2021 – 5:45pm
2021 FIRST-QUARTER REVENUES
THE LUMIBIRD GROUP, THE EUROPEAN LEADER FOR LASER TECHNOLOGIES, ACHIEVED 66% CONSOLIDATED REVENUE GROWTH IN THE FIRST QUARTER OF 2021 TO €33.8M, DRIVEN BY THE INTEGRATION OF ELLEX’S LASER AND ULTRASOUND ACTIVITIES. ON A PRO-FORMA BASIS1, REVENUES ARE UP +3.2% (+5.0% AT CONSTANT EXCHANGE RATES), REFLECTING THE GRADUAL UPTURN IN BUSINESS COMPARED WITH A FIRST QUARTER OF 2020 THAT WAS STILL RELATIVELY UNAFFECTED BY THE IMPACTS OF THE CRISIS.
Consolidated revenues (unaudited)
pro forma 2020 1
Pro forma 1 change
The LUMIBIRD Group’s consolidated revenues came to €33.8m at March 31, 2021, up 66%. Compared with pro-forma 2020 revenues, including Ellex’s laser and ultrasound activities at January 1, the year-on-year change represents +3.2% and +5.0% at constant exchange rates, after offsetting negative foreign exchange effects for -€0.6m. These figures are aligned with the trend from the previous quarters, with the Medical division’s stability (-1.1%) confirming the upturn compared with a period for comparison that included non-recurring sales (Libya tender) for €0.85m and that was not yet affected by the crisis, combined with progress for the Photonics division, which is now freed up from the impact of the legacy Defense sector contracts.
For the Photonics division, the Industrial and Scientific business is reporting significant growth (+25% to €6.8m), thanks in particular to the impact of OEM sales for medical and flatscreen applications. The Lidar business is stable (-2.0% to €3.9m), with an upturn in sales of lasers to integrators, in particular in the field of autonomous vehicles, offset by a contraction in sales of Lidar systems to end users, which, like the Medical business, were affected by the cancellation of trade shows and the travel restrictions put in place. The Defense/Space business is stable (0% to €3.9m), with the planned contraction on the legacy contracts in 2020 no longer resulting in an unfavorable basis for comparison.
The Medical division recorded +153% growth based on reported data and -1.1% pro-forma (+5.5% excluding Libya revenues and exchange rate impacts). These figures factor in the successful integration of Ellex’s Laser and Ultrasound activities in a context that was significantly affected by the health crisis in certain countries and the ongoing situation with the main events held in virtual format.
The synergies capitalized on between LUMIBIRD and Ellex are continuing to deliver benefits this year, including:
The robust development of glaucoma-related products, which represent a large part of sales for Ellex and Quantel Medical, with the entire range now sold by all of the teams worldwide. This trend has been further strengthened with the publication of the latest EGS recommendations in March 2021 recognizing the use of LUMIBIRD Medical products for first-line treatments;
The Japanese health authorities’ approval of one of Quantel Medical’s flagship products, the ophthalmic ultrasound solution ABSolu. This is now available in Japan, the world’s second largest ophthalmology market, through the Ellex subsidiary.
LUMIBIRD has successfully adapted its commercial activity to the context of travel restrictions and industry events, recording an acceleration in new orders at end-March. Moreover, the Group has been relatively unaffected to date by the global tensions surrounding electronics components, thanks to its high level of industrial integration. LUMIBIRD is still confident about its outlook for full-year growth and is confirming its three-year objectives announced at the start of the year.
Next date: 2021 first-half revenues on July 26, 2021 (after close of trading)
LUMIBIRD is one of the world's leading specialists in lasers. With 50 years of experience and a mastering of solid state laser, laser diodes and fiber laser technologies, the Group designs, manufactures and markets high performance lasers for scientific (laboratories and universities), industrial (manufacturing, defense, Lidar sensors) and medical (ophthalmology, ultrasound diagnostic) markets.
Born from the combination of Keopsys Group with Quantel in October 2017, LUMIBIRD has more than 800 employees and over €126 million of consolidated revenues in 2020 and is present in Europe, America and Asia.
LUMIBIRD shares are listed on the Euronext Paris B Compartment. FR0000038242 – LBIRD www.lumibird.com
1 Including Ellex at January 1, 2020