• Lumibird Maintains Double-Digit Pro Forma Growth in 2021

    Source: Nasdaq GlobeNewswire / 24 Jan 2022 10:45:00   America/Chicago

    Lannion, January 24, 2022 – 5:45pm

    LUMIBIRD MAINTAINS DOUBLE-DIGIT PRO FORMA GROWTH1 IN 2021

    The LUMIBIRD Group, the European leader for laser technologies, is reporting 28% full-year consolidated revenue growth for 2021, up to €162.5m. In the fourth quarter, revenues came to nearly €50m, exceeding the record set in the fourth quarter of 2020. This enables the Group to confirm double-digit pro forma growth1 of +10%.

    Consolidated revenues (unaudited)

    Revenues (€m) 2021 2020 Reported change pro forma 2020 1 Pro forma 1 change
    First quarter 33.8 21.9 +54% 32.7 +3.2%
    Second quarter 41.7 23.9 +75% 33.8 +23%
    Third quarter 37.2 32.7 +13% 32.8 +13%
    Fourth quarter 49.8 48.2 +3% 48.3 +3%
    12 months 162.5 126.7 +28% 147.7 +10%
    of which          
    Photonics 76.3 68.8 +11% 68.8 +11%
    Medical 86.1 57.9 +49% 78.8 +9%

    The LUMIBIRD Group’s consolidated full-year revenues came to €162.5m in 2021, up 28% based on reported data and +10% pro forma1. At constant exchange rates, growth came to +29%, after offsetting negative exchange effects for €1.5m. On a pro forma basis, the Group achieved strong full-year growth across both of its divisions, with +11% for Photonics and +9% for Medical.

    For the Photonics division, the last quarter was marked by:

    • the robust trends maintained for the Industrial and Scientific business (+16% to €8.5m), driven by the OEM activities for flat screen and medical applications. This segment recorded €33.9m of full-year revenues, up 35%;
    • A contraction in the Defense / Space business (-38% to €5.5m), reflecting the planned scaling down of contract deliveries, partially offset by the growth in non-contract sales. Over the year, Defense / Space revenues came to €20.0m, down 7%;
    • The continued upturn in the Lidar business (+17% to €9.7m), and especially Lidar systems, catching up the delay sustained during the first half of the year. As announced, the Lidar segment ended the year with a slight increase in annual revenues (+1% to €22.4m).

    With 10% pro forma growth in the fourth quarter, and full-year growth of 49% based on reported data and +9% pro forma, the Medical division confirmed the successful integration of Ellex in 2021, characterized by the rapid activation of major commercial synergies. In 2021, these made it possible to ramp up the penetration of Quantel Medical’s products on the world’s top two markets for this sector: the United States and Japan.

    LUMIBIRD is starting 2022 with a robust order book, for both Photonics, across its three segments, and the Medical business, with regulatory authorizations in place for several new product launches during the first quarter. The Group is confirming its targets to double its reported revenues between 2020 and 2023, driven by organic and external growth, and increase its EBIDTA2/revenue ratio within a 20%-25% range from 2021.

    Next date:

    2021 full-year results on March 17, 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 870 employees and over €162 million of consolidated revenues in 2021 and is present in Europe, America and Asia.

    LUMIBIRD shares are listed on the Euronext Paris B Compartment. FR0000038242 – LBIRD    www.lumibird.com

    Contacts

    LUMIBIRD
    Marc Le Flohic
    Chairman and CEO
    Tel. +33(0) 1 69 29 17 00
    info@lumibird.com     		LUMIBIRD
    Aude Nomblot-Gourhand
    Secretary General – CFO
    Tel. +33(0) 1 69 29 17 00
    info@lumibird.com     		Calyptus
    Mathieu Calleux
    Investors Relations
    Tel. +33(0) 1 53 65 37 91
    lumibird@calyptus.net


    1 Including the acquisitions from 2020 (Ellex and Esmed) at January 1, 2020
    2 EBITDA corresponds to income from ordinary operations restated for provisions and depreciation, net of reversals and expenses covered by such reversals.

     

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