Press release
Third quarter 2024 revenue
Turnover up 17.1% in published data
Increase in the contribution of “Connected Home”
Slowdown in the decline of “Logistics Solutions”
Continued success in the integration of Home Networks activities
GUIDANCE CONFIRMEE
Paris (France), November 7, 2024 – Vantiva (Euronext Paris : VANTI) today announces its unaudited revenue for the third quarter of 2024.
“Connected Home” recorded an increase in its turnover of 28.6% over the quarter thanks to the integration of Home Networks and diversifications.
The turnover of “Logistics Solutions” fell by 11.9% over the quarter.
- The group’s turnover amounted to €554 million over the quarter, up 17.1% (+19.4% at constant exchange rate).
- The “Connected Home” division contributed €436 million, an increase of 28.6% (+31.4% at constant exchange rate). This figure includes the contribution of €26 million from diversification activities which did not exist in 2023.
- The contribution of “Logistics Solutions” amounts to €118 million, a decrease of 11.9% (-10.9% at constant exchange rate).
- The integration of the Home Networks activities continued according to our plan.
- The 2024 guidance (EBITDA and FCF1) is confirmed.
1 after interest and taxes and before restructuring costs
I- Q3 and 9M 2024 revenues
Q3 2024 Highlights
Demand for telecommunications equipment was further impacted by the reduction in investment programs of major operators and the need to reduce inventories. In addition, the geopolitical environment and the threat of strikes in ports on the American east coast have led to an extension of delivery times.
The “Logistics Solutions” business was impacted by the slowdown in consumption in North America. On the other hand, demand for optical discs held up better than expected. Growth activities continued to expand.
Perspectives
The successful integration of Home Networks activities and the speed of rationalization actions allow us to confirm the guidance for the year 2024.
- EBITDA > 140 million euros
- FCF(1) > 0 millions d’euros
1 after interest and taxes and before restructuring costs
II- Sector review of the third quarter and first nine months of the year
Connected Home
Revenue Breakdown by Product
Revenue from “Connected Home” represented 79% of the group’s revenues over the quarter (72% in Q3 23), and amounted to €436 million, up 28.6%. At constant exchange rates, the increase would have been 31.4% compared to Q3 2023. All regions recorded an increase in their contribution. Video activities benefited from the consolidation of Home Networks’ turnover. The “Broadband” activity is experiencing low demand from certain operators who are reducing their stocks. In addition, the extension of delivery times following security problems around the Suez Canal and the threat of strikes in ports on the American east coast has postponed deliveries to the next quarter.
Logistics Solutions
The turnover of « Logistics Solutions” for the quarter represents 21% of the group’s turnover (28% in Q3 23) and amounts to €118 million for the quarter, a decrease of 11.9% compared to Q3 23. A constant exchange rate, the drop would have been 10.9%. This decline is explained by the continued decline in the optical disk business, which nevertheless performed better than our expectations. Growth activities continued to grow rapidly.
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Disclaimer: Forward-Looking Statements
This press release contains certain statements that constitute “forward-looking statements”, including, but not limited to, statements that predict or indicate future events, trends, plans or objectives, based on certain assumptions or which are not directly related to historical or current facts. These forward-looking statements are based on management’s current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from future results expressed, anticipated or implied. in these forward-looking statements. For a more complete list and description of these risks and uncertainties, please refer to the documents filed by Vantiva with the Autorité des marchés financiers (AMF). The 2023 universal registration document was filed with the Financial Markets Authority on April 30, 2024, under number D.24-0375.
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About Vantiva
Let’s push the limits
Vantiva shares are admitted to trading on the regulated market of Euronext Paris (VANTI).
Vantiva, previously known as Technicolor, is headquartered in Paris, France. An independent company, it is a global technology leader in the design, development and delivery of innovative products and solutions that connect consumers around the world to the content and services they love – whether at home, at work or in other smart spaces. Vantiva has also built a strong reputation for optimizing supply chain performance by leveraging its decades-long expertise in high-precision manufacturing, logistics, order fulfillment and distribution. With operations across the Americas, Asia Pacific and EMEA, Vantiva is recognized as a strategic partner by leading companies across diverse industries, including telecom operators, software publishers and video game creators, and this for over 25 years. The group’s relationship with the film and entertainment industry dates back over 100 years, providing global solutions to its clients.
With the acquisition of CommScope Home Networks in January 2024, Vantiva continues its 130-year legacy as a global leader in the connected home market.
Vantiva is committed to the highest standards of corporate social responsibility and sustainability in all aspects of its business.
For more information, visit vantiva.com and follow Vantiva on LinkedIn and Twitter.
Contacts
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vantiva.press@image7.fr investor.relations@vantiva.com
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2024 11 07 – CP Q3 24 – FR
