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    ALCLA   FR0004152882

CLASQUIN

(ALCLA)
  Report
Real-time Quote. Real-time Euronext Paris - 10/15 09:59:29 am
66 EUR   -0.60%
09/23CLASQUIN : 2021_09_23 Kepler
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CLASQUIN : 2021 – Q2 business report

09/01/2021 | 12:52pm EDT

FINANCIAL PRESS

RELEASE

www.clasquin.com

Lyon, 1 September 2021 (after market closure)

Q2 2021

SPECTACULAR GROWTH IN BUSINESS

AND GROSS PROFIT

H1

Q2

Q1

Change at

Change at

Q2 2021/

Q1 2021/

Change

Q1 2020 at

H1 2021

H1 2020

current

constant

Q2 2020 at

vs

current

scope &

scope &

current scope

H1 2019

scope &

exch. rates

exch. rates

& exch. rates

exch. rates

**

CONSOLIDATED (unaudited)

Number of shipments

143,795

115,272

+24.7%

+24.7%

+8.9%

+41.1%

+10.9%

Sales (€m)*

293.8

181.4

+62.0%

+62.6%

+90.8%

+68.6%

+54.9%

Gross profit (€m)

51.9

36.1

+43.6%

+43.6%

+43.5%

+50.1%

+36.8%

*Note: Sales is not a relevant indicator for assessing activity in our business, because it is greatly impacted by changing sea and air freight rates, fuel surcharges, exchange rates (especially versus the $), etc. Variations in the number of shipments, the volumes shipped and-in terms of the Group's finances-gross profit are relevant indicators.

** at constant exchange rates excluding the acquisition of Transports Petit International

MARKET AND BUSINESS REVIEW

The resumption of international trade from Q4 2020 onwards gathered pace throughout H1 2021 amid a severe imbalance between transport supply and demand which sent sea freight rates soaring while air freight rates remained high.

Against this backdrop, the Group posted spectacular growth in Q2 2021 with the total number of shipments up 41.1% (up 24.7% in H1).

  • Air freight shipments were up 51.6% in Q2 (up 22.1% in H1), while tonnage shipped rose 19.1% reflecting strong recovery versus Q2 2020, albeit falling short of 2019 levels (down 9.7%).
  • Meanwhile, growth in sea freight shipments stepped up in Q2 (up 29.3%) to finish 20.0% ahead of Q2 2019. The number of TEUs shipped rose 32.1%.
  • The roll-on/roll-off* business (North Africa and Turkey) picked up strongly in Q2 (up 64.0%) and finished 6.3% up from Q2 2019.

The sharp upswing in business was driven by:

  • A favourable basis of comparison, particularly in air freight,
  • Strong growth in core business,
  • Gaining multiple new clients amid a particularly complex environment, due to: o the relevance and quality of the Group's offering
    o the energy and commitment of our sales force
  • The completion of development projects (January acquisition of the Columbus Transit business in Spain and creation of CLASQUIN Belgium in April)

FINANCIAL PRESS

RELEASE

www.clasquin.com

The number of shipments rose exceptionally in many regions:

Germany up 153%, Spain up 42%, France up 37%, Chile up 34%, USA up 28%.

Q2 2021 gross profit soared 50.1% (up 47.5% at constant scope and exchange rates), broken down as follows:

  • Growth in number of shipments (up 38.2% excluding acquisitions and development projects) and volumes shipped
  • Acquisition of Transports Petit International (see Q2 2021 highlights): up 4.8%
  • Completion of development projects (Columbus in Spain and launch of CLASQUIN Belgium): up 3.5%
  • Currency impact: down 2.2%
  • Changes in client/product mix & market conditions: up 5.8%

Particular attention is drawn to the exceptional increase in sea freightgross profit, up 68.9% in H1 driven by:

    • Robust growth in volumes shipped (up 28%), largely outperforming market growth,
    • The development of a high value-added offering (projects, PO Management, digital solutions, etc.).
    • Unprecedented market conditions (soaring freight rates and port congestion), leading to severe overload for operational staff and a significant increase in working capital requirement (mainly related to the increase in sales).
  • Combined road + sea transport (trailers or trucks loaded on ships)

BREAKDOWN OF ACTIVITY BY BUSINESS LINE

NUMBER OF SHIPMENTS

GROSS PROFIT (€m)

At current scope

Change

Change

Change

Change

Change

Change

H1 2021

H1 2020

H1 2021/

H1 2021/

Q2 2021/

H1 2021

H1 2020

H1 2021/

H1 2021/

Q2 2021/

and exchange rates

H1 2020

H1 2019

Q2 2020

H1 2020

H1 2019

Q2 2020

Sea freight

67,306

53,692

+25.4%

+20.6%

+29.3%

27.1

16.1

+68.9%

+70.1%

+81.8%

Air freight

37,352

30,588

+22.1%

-9.2%

+51.6%

15.5

12.8

+21.2%

+33.9%

+11.3%

RORO*

22,719

18,072

+25.7%

-2.7%

+64.0%

4.4

3.3

+33.6%

+1.3%

+75.9%

Other

16,418

12,920

+27.1%

+39.4%

+44.7%

3.5

2.9

+22.5%

+9.9%

+47.8%

TOTAL OVERSEAS

143,795

115,272

+24.7%

+8.9%

+41.1%

50.6

35.0

+44.3%

+44.1%

+50.3%

BUSINESS

Log System

1.6

1.5

+4.8%

+2.9%

+23.4%

Consolidation entries

(0.3)

(0.4)

N/A

N/A

N/A

TOTAL

51.9

36.1

+43.6%

+43.5%

+50.1%

CONSOLIDATED

* Roll-on/roll-off

VOLUMES

Change

Change

Change

H1 2021

H1 2020

H1 2021/

H1 2021/

Q2 2021/

H1 2020

H1 2019

Q2 2020

Sea freight

131,991 TEUs*

103,087 TEUs*

+28.0%

+31.9%

+32.1%

Air freight

31,216 T**

25,503 T**

+22.4%

+7.0%

+19.1%

  • Twenty-footequivalent units
  • Tons

FINANCIAL PRESS

RELEASE

www.clasquin.com

Q2 2021 HIGHLIGHTS

  • June 2021 acquisition of a 55.56% equity stake in Transports Petit International, a company that charters flights carrying sensitive, high value-addedgoods to African markets.
    This company was consolidated from 1 January (control effectively obtained).
  • Ongoing deployment of the "LIVE by CLASQUIN" collaborative digital platform and expansion of our service offering through Live Green, which allows clients to obtain a comprehensive calculation of the energy consumption, carbon emissions and air pollution generated by each of their shipments via any means of transport.
    Scope covered by LIVE at 30 June 2021: 160 clients generating 24% of Group gross profit.

2021 OUTLOOK

Market

International trade estimates (by volume): up 8% (WTO 31/03/2021)

Sea freight market estimates (by volume): up 5-7%

Air freight market estimates (by volume): up 7-9%

CLASQUIN

Business forecast: Largely outperforming market growth

UPCOMING EVENTS (publication after-market closure)

CONTACTS CLASQUIN

Wednesday 22 September 2021

H1 2021 results

Philippe LONS - Deputy Managing Director/Group CFO

Thursday 28 October 2021

Q3 2021 business report

Domitille CHATELAIN - Group Head of Communication & International

Marketing Executive

Groupe CLASQUIN - 235 cours Lafayette - 69006 Lyon

Tél : 04 72 83 17 00 - Fax : 04 72 83 17 33

CLASQUIN is an air and sea freight forwarding and overseas logistics specialist. The Group designs and manages the entire overseas transport and logistics chain, organising and coordinating the flow of client shipments between France and the rest of the world and, more specifically, to and from Asia-Pacific, North America, North Africa and sub-Saharan Africa.

Its shares are listed on EURONEXT GROWTH, ISIN FR0004152882, Reuters ALCLA.PA, Bloomberg ALCLA FP. Read more at www.clasquin.com.

CLASQUIN confirms its eligibility for the share savings plan for MSCs (medium-sized companies) in accordance with Article D221-113-5 of the French Monetary and Financial Code established by decree number 2014-283 of 4 March 2014 and with Article L221-32-2 of the French Monetary and Financial Code, which set the conditions for eligibility (less than 5,000 employees and annual sales of less than €1,500m or balance sheet total of less than €2,000m).

CLASQUIN is listed on the Enternext© PEA-PME 150 index.

LEI: 9695004FF6FA43KC4764

Disclaimer

Clasquin SA published this content on 01 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 September 2021 16:51:10 UTC.


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Financials
Sales 2021 425 M 493 M 493 M
Net income 2021 12,1 M 14,0 M 14,0 M
Net Debt 2021 36,2 M 42,0 M 42,0 M
P/E ratio 2021 12,6x
Yield 2021 1,97%
Capitalization 151 M 175 M 175 M
EV / Sales 2021 0,44x
EV / Sales 2022 0,34x
Nbr of Employees 925
Free-Float 36,5%
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Technical analysis trends CLASQUIN
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 2
Last Close Price 66,00 €
Average target price 73,50 €
Spread / Average Target 11,4%
EPS Revisions
Managers and Directors
Hugues Morin Group Chief Executive Officer, MD & Director
Philippe Lons Chief Financial Officer, Director & Deputy MD
Yves Revol Executive Chairman
Frederic Serra Group Chief Information Officer
Benoit Comte Chief Operating Officer-France South
Sector and Competitors