LUCIBEL SA PRESS RELEASE
Rueil-Malmaison, 28 January 2015
2014 annual revenues of € 24.6m (+14%) First major Middle East project won in December Consolidated Group revenues of € 24.6m at 31 December 2014, up 14% (+30% post adjustment for 'white label' business exit) ;
Strong increase in sales on the main business geographies (France, MEA) ;
First major project win with a € 0.6m business granted to Lucibel in Saudi Arabia in December 2014 for supply of the LED lighting equipment of a "smart city", coming as confirmation of the sales potential in the Middle East area.
Lucibel, a specialist in LED lighting solutions, announces its revenues for the year 2014.
In € million | Q4 | FY | ||||
(unaudited consolidated IFRS-compliant data) | 2014 | 2013 | % change | 2014 | 2013 | % change |
France | 5.6 | 5.7 | -1.8% | 20.8 | 16.3 | +27.5% |
% of total | 82.9% | 84.1% | 84.7% | 75.8% | ||
International | 1.2 | 1.1 | +7.4% | 3.8 | 5.2 | -27.7% |
% of total | 17.1% | 15.9% | 15.3% | 24.2% | ||
Group revenues | 6.8 | 6.8 | - | 24.6 | 21.5 | +14.2% |
Lucibel generated Group revenues of € 6.8m in Q4 2014, stable vs Q4 2013, bringing Group annual revenues to € 24.6m, a 14.2% y-o-y growth in line with analysts' consensus. With adjustment of the impact of the 'white label' business which Lucibel exited in 2014 and that carries most of the international sales reduction, Group revenues grew 30% in 2014.
Lucibel's sales in France totaled € 5.6m in Q4 2014, almost stable vs Q4 2013, in a complex lighting market that confirmed a rapid switch of the main market makers to LED solution with yet a substantial activity decrease, notably in the construction sector. On 2014, French sales reached € 20.8m, a strong
27.5% growth vs 2013. This data does not include Citéclaire's € 1.2m market won in October 2014 for
the LED equipment of a selection of Istres town public buildings. 1
1 See Lucibel press release, « Revenue for first nine months of 2014 up 21%; €1.2m contract awarded in October by the
town of Istres », 28 October 2014
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Abroad, 2014 was marked by Lucibel's exit from the 'white label' business, which was mostly carried with European clients, to focus on the distribution of Lucibel brand products as well as by a more selective allocation of resources to high potential geographies such as the Middle East (United Arab Emirates, Saudi Arabia) and Africa (set up H1 2014 of Lucibel Africa, subsidiary based in Casablanca, Morocco).
In this environment, Lucibel international sales reached € 1.2m in Q4 2014 and € 3.8m in FY 2014 vs
€ 5.3m in FY 2013. Post adjustment for 'white label' business exit, 2014 y-o-y international sales increased 12%.
MEA (Middle East Africa) business zone, recently launched, continues to develop with 2014 sales of
€ 1.7m, a 16% increase vs 2013 and holds in Lucibel's view the most short and long term growth potential.
Following many months of market prospection in Saudi Arabia, the Group was granted a € 0.6m business in December 2014 for the supply of Lucibel LED lighting equipment to a large scale smart city project in the Riyadh area. This project includes 6 additional LED equipment supply contracts on a total of 7 to be awarded, the first having been won by Lucibel.
This order, to be delivered on the first quarter 2015, is one of the first customized projects to be
assembled at Lucibel's new industrial and logistics site of Barentin (Haute-Normandie, France).
Following a FY 2014 mitigated business performance that was impacted by a development strategy focused on high potential geographies and still substantial investments on innovation (larger product portfolio, launch of Lifi offer for museums and shops), Lucibel should confirm in 2015 its significant growth potential in France and abroad where large scale projects are expected.
With a consolidated cash position of € 4.7m at 31 December 2014, not including new debt financing under discussion or to be put in place, Lucibel is to dedicate its financial resources to organic growth in priority and is to further adjust its fixed costs to market evolution.
Frédéric Granotier, Chairman and CEO of Lucibel, made the following comment: « Following 2013's important sales growth, 2014 was marked by the successful integration of Cordel and Procédés Hallier that changed the Group's scale in a significant way, but also by a key milestone with our listing on the stock market as well as by the optimization of our sales and industrial organization to prepare Lucibel's
dynamic and profitable upcoming growth.
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Furthermore, we are extremely satisfied with the recent order in Saudi Arabia that comes as a result of voluntary development efforts in the Middle East where sales growth should contribute to the Group's growth on 2015».
Next financial release31 March 2015, post market closing: 2014 annual results
About Lucibel
Lucibel is a French innovative company designer of new-generation lighting products and solutions based on LED technology, and marketed in over 30 countries. For more information, please visit
company's website at www.lucibel.com
Lucibel LedLucibel Lucibel LedLucibel FredGRANOTIER
Press contactsCinquième Pouvoir / The Desk Stéphanie Kanoui/ 01 40 03 96 03 s.kanoui@cinquiemepouvoir.com
Calyptus
Mathieu Calleux / 01 53 65 68 68
mathieu.calleux@calyptus.net
Lucibel
Perrine Simon
perrine.simon@lucibel.com
Investors contact Liquidity providerLucibel
Gilles Aubagnac
gilles.aubagnac@lucibel.com
Louis Capital Markets
Maxime Aboujdid/ 01 53 45 10 71
maboujdid@louiscapital.com
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