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Lannion, October 25, 2021 – 5:45pm
LUMIBIRD MAINTAINS DOUBLE-DIGIT PRO FORMA GROWTH1 IN THE THIRD QUARTER
The LUMIBIRD Group, the European leader for laser technologies, is reporting 43% consolidated revenue growth for the first nine months of 2021, up to €112.6m. Pro forma1 growth, based on the new scope, continued at the same rate as the first half of the year, up +13% (+15% at constant exchange rates). 2021 full-year revenues are expected to be in line with the consensus.
Consolidated revenues (unaudited)
pro forma 2020 1
Pro forma 1 change
The LUMIBIRD Group’s consolidated revenues for the first nine months of 2021 climbed to €112.6m, up 43% based on reported data and +13% pro forma, including Ellex’s laser and ultrasound business from January 1. At constant exchange rates, growth came to +15%, after offsetting negative exchange effects linked to the US dollar for €1.7m. The Group maintained its robust growth trends across its two divisions, with more marked growth for Photonics in the third quarter.
In the Photonics division, the Industrial and Scientific business lines ramped up their growth (+43% to €25.4m over nine months), continuing to be driven by the OEM activities for flat screen and medical applications, as well as laser diode sales. The Lidar business, held back by technical delays with the Lidar systems during the first half of the year, offset its revenue gap, with revenues reaching €12.7m at end-September (-8%). The upturn in sales of Lidar systems is expected to continue in the fourth quarter, with full-year revenue growth forecast for the Lidar segment. The Defense / Space business is up +14% over nine months to €14.5m, with sales stable for the MegaJoule program and the new civil and military programs maintaining their robust trends.
The Medical division recorded nine-month growth of +76% based on reported data and +9% pro forma (+11% at constant exchange rates). Reflecting the impact of commercial synergies supporting cross-selling for the Quantel Medical, Optotek and Ellex ranges in all of the Group’s subsidiaries, the order book points to a strong level of business in the fourth quarter.
With the fourth quarter continuing to be very active, and expected to be close to Q4 2020, LUMIBIRD is forecasting full-year revenues in line with the market consensus. The Group is confirming its targets to double its reported revenues between 2020 and 2023, driven by organic and external growth, and increase its EBIDTA margin within a 20%-25% range from 2021.
LUMIBIRD is continuing to work on two external growth projects in the Defense / Space sector: SAAB, launched in March 2021, and CILAS, which started up more recently.
2021 full-year earnings on January 24, 2022 (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 the acquisitions from 2020 (Ellex and Esmed) at January 1, 2020