Consolidated turnover stood at €494.2 million over the first 9 months of the 2024 financial year, down 6.3% at constant scope.
And 3th quarter (-9.5% at constant scope) reflecting the situation in North America and the deterioration of the automobile market
Still positive dynamics in the Environment activity
Confirmation of annual objectives
And 3th quarter in line with the trends announced during the half-year results
In the 3rd quarter of the financial year, LACROIX recorded a consolidated turnover of 143.9 million euros (M€), compared to 172.5 M€ a year earlier. As a reminder, this turnover does not include the City-Mobility segment which, being the subject of a proposed sale, is treated as “Discontinued activity”. Furthermore, the decline in the Group’s activity over the period (-16.6%) is reduced to 9.5% at constant scope, i.e. excluding the Signaling segment, deconsolidated as of April 30, 2024 following its final sale.
Cumulatively over the first 9 months of the year, LACROIX’s consolidated turnover stands at €494.2 million, compared to €549.2 million, representing a decrease of 10.0% at the consolidated level (including the signaling segment over 4 months in 2024) and -6.3% at constant scope. This development results from solid momentum in the Environment business (+13.6% over the period) and performance in Electronics impacted by poor momentum in several market segments, notably automotive (-10.2%). %). It appears to be in line with the trends communicated on the occasion of the publication of the half-year results and aligned with the annual turnover objective (around €640 million at the consolidated level).
*Over the first 9 months of 2024, the Signaling segment is consolidated over 4 months (January-April).
**On a comparable basis (excluding signaling), growth was -9.5% in Q3 2024 and -6.3% in 9M 2024
Solid momentum in Environment, contraction in activity confirmed in Electronics
Electronics activity
The Electronics activity recorded a turnover of €114.6 million in the 3rd quarter of 2024, down 12.6% compared to the same period in 2023, mainly penalized by the deterioration of the automotive market over the period.
In EMEA, turnover was down 9% with a trend in the automotive market partially offset by the continued sustained growth of the aeronautics/defense segment, and that of the HBAS (Home & Building Automation Systems) segment which posted a slight rebound, even if the sector remains faced with the crisis in the HVAC (heat pump) market. Across the Atlantic, the decline stands at -19.6% with activity also disrupted by the ongoing restructuring, the first positive effects of which are, as previously announced, expected from 2025.
Cumulatively over the first nine months of the financial year, Electronics’ turnover stood at €382.7 million, down 10.2% year-on-year.
Activity Environment
The Environment activity generated a turnover of €29.2 million in the 3rd quarter of 2024, compared to €27.9 million a year earlier, including the Public Lighting segment – previously attached to City – over these two reference periods. After its excellent performance in the first half of 2024 (+17.9%), the activity thus posted growth of 4.9% in the 3rd quarter, continuing a solid trajectory driven over the period by projects in Water at international.
In total over the first nine months of the financial year, the Environment activity reached €93.6 million, up 13.6% year-on-year. This performance concerns all segments with growth above 2 digits for Water in France and internationally, heating networks, and an increase of 9% in Smart lighting while the growth of Smart grids stands at +4.9% (after growth of almost 10% over the same period last year).
Outlook: confirmation of objectives for the entire financial year
At the end of these first nine months marked by a difficult sectoral context in the automobile industry, LACROIX remains focused on its main priorities, first and foremost the recovery of Electronics North America, and remains aligned with its financial objectives for the whole of exercise. The Group thus confirms that it is targeting a turnover of around €640 million in 2024 on the consolidated scope (including 4 months of the Signaling segment and excluding City-Mobility). In terms of profitability, the current EBITDA margin is expected in a range of 4.0 to 4.5%.
In the medium term, LACROIX remains confident in its ability to return to solid momentum fueled by the ongoing refocusing on its most contributing activities, which address markets with high potential both in terms of growth, synergies, and environmental impact. As announced during the half-year results, the Group will unveil a new 2025-2027 roadmap when it publishes its annual results on March 31.
Next meetings
2024 turnover: February 10, 2025, after market closing
Find financial information on our investors area
About LACROIX
Convinced that technology must help promote simple, sustainable and safer environments, LACROIX supports its customers in the development of more sustainable living ecosystems, thanks to useful, robust and secure electronic equipment and connected technologies.
A family ETI listed on the stock exchange, with a turnover of 761 million euros in 2023, LACROIX combines the agility of innovation, the capacity for industrialization, cutting-edge technological know-how and a long-term vision to serve environmental and societal issues through its Electronics and Environment activities.
Through its Electronics activity, LACROIX designs and manufactures industrial IoT solutions (hardware, software and cloud) and electronic equipment for the automotive, industrial, connected homes and buildings, and aeronautics sectors. and defense as well as health. The Group’s industrial base, the Electronics activity is ranked in the TOP 50 worldwide and the TOP 10 in Europe for electronic subcontractors.
Through its Environment activity, LACROIX also provides connected and secure electronic equipment and IoT solutions to optimize the management of water networks, heating, ventilation & air conditioning installations, electrical networks and public lighting.
