Strong organic growth driven by all solutions
- Total sales of €246 million in Q1 2021, up 11.1%1 organically vs. Q1 2020 (up 3.0% on a reported basis)
- Good dynamics across all solutions:
- Intelligent Communication Automation up 5.8% organically, supported by a 21.4% growth in subscription-related revenue, continuing strong performance of
YayPay and a promising start of newly-acquired Beanworks - Marked rebound in Mail-Related Solutions (+6.3% organic growth) fueled by a 30%+ growth in hardware sales
- Sustained high growth in Parcel Locker Solutions (+67.9% organically)
- Intelligent Communication Automation up 5.8% organically, supported by a 21.4% growth in subscription-related revenue, continuing strong performance of
- Strong organic growth in
North America (+13.7%), coupled with a much improved performance inEurope (+7.2%)
Dynamic business and operational execution
- Customer acquisitions (ICA: 600+ customers in Q1 2021 ; PLS: new universities onboarded and
Relais Colis inFrance ;
MRS: top tier financial institution inFrance ,State of California ) and contract extensions (e.g. Lowe’s contract extended toCanada in PLS) - Product launches (Inspire Evolve, iX range in
Germany , new outdoor locker solutions, expansion of Quadient Impress Distribute) and new partnership betweenYayPay and Sage - Continued recognition from market research firms (Quadrant, Aspire)
2021 upgraded outlook
- 2021 organic revenue growth compared to 2020 now expected above 4%, versus former guidance of minimum 2%
- 2021 organic current EBIT2 growth compared to 20203 now expected between 5 and 6%, versus former guidance between 4 and 6%
FIRST-QUARTER 2021 SALES INCREASED BY 11.1% ORGANICALLY
Consolidated sales amounted to €246 million in the first quarter of 2021, a 3.0%-increase compared to the first quarter of 2020. Organic growth was +11.1%. Changes of scope are related to the divestment of
Quadient’s strategy is to promote subscription-related revenues in all solutions, particularly through SaaS4 subscription and rental sales.
Change in Q1 2021 sales
In million euros | Q1 2021 | Q1 2020(a) | Change(a) | Change at constant rates(a) | Organic change(a) |
Major Operations | 226 | 215 | +5.2% | +10.7% | +10.3% |
Intelligent Communication Automation | 44 | 42 | +4.4% | +7.8% | +5.8% |
Mail-Related Solutions | 159 | 158 | +0.9% | +6.3% | +6.3% |
Parcel Locker Solutions | 22 | 15 | +54.0% | +67.9% | +67.9% |
Additional Operations | 20 | 24 | -15.6% | -16.1% | +21.1% |
Group total | 246 | 239 | +3.0% | +8.0% | +11.1% |
In million euros | Q1 2021 | Q1 2020 | Change | Change at constant rates | Organic change |
Major Operations | 226 | 215 | +5.2% | +10.7% | +10.3% |
123 | 118 | +4.9% | +14.5% | +13.7% | |
Main European countries(b) | 91 | 85 | +7.1% | +7.2% | +7.2% |
International(c) | 12 | 12 | -5.6% | -1.0% | -1.0% |
Additional Operations | 20 | 24 | -15.6% | -16.1% | +21.1% |
Group total | 246 | 239 | +3.0% | +8.0% | +11.1% |
(a) 2020 data was restated to take into account the product reclassification from Intelligent Communication Automation to Mail-Related Solutions (b) (c) International includes the activities of Parcel Lockers Solutions in |
Major Operations
Major Operations recorded revenue of €226 million (92% of total sales) in the first quarter of 2021, up by 10.3% on an organic basis compared to the first quarter of 2020.
Sales in
Main European countries posted a sharply improved performance in Q1 2021 (+7.2%) compared to Q1 2020, notably benefiting from double-digit organic growth in
The International segment posted a slight decrease in revenue in Q1 2021 (-1.0%) compared to Q1 2020.
Intelligent Communication Automation
Intelligent
Subscription related revenue (70% of Intelligent Communication Automation in Q1 2021) continued to show a strong double-digit growth for both SMBs (+31%) and large accounts (+15%), driven by sustained increases in SaaS and volume-based activities.
Trends in professional services revenue have improved while license sales recorded a sharp decline, mainly due to the shift in business model to SaaS for both SMBs and large accounts.
Moreover, Intelligent Communication Automation benefitted from the continuing strong performance of
Overall, Intelligent Communication Automation recorded strong business dynamics with the gain of more than 600 new customers during the quarter, an increase in usage for Quadient Impress and Quadient Inspire platforms, and the launch of new products (version 1.2 of Quadient Impress Distribute, a new business intelligence and dashboards module for
Mail-Related Solutions
Mail-Related Solutions sales stood at €159 million in the first quarter of 2021, up by 6.3% organically compared to the first quarter of 2020.
Sales experienced positive organic growth across all geographies, with sustained performance in
Subscription related revenue (73% of of Mail-Related Solutions sales in Q1 2021), was virtually stable (-0.9%), showing the resilience of the installed base.
Hardware sales experienced a strong rebound with organic growth above 30% including new customers such as a government contract with the
In addition, the iX series of our mailing machines was launched in
Parcel Locker Solutions
Parcel Locker Solutions sales stood at €22 million in the first quarter of 2021, up +67.9% organically compared to the first quarter of 2020.
Subscription related revenue (50% of Parcel Locker Solutions sales in Q1 2021), posted a double digit growth (+20.2%) driven by the increase in the installed base in
Hardware sales increased sharply driven by the dynamics in the US retail market as well as pick up in universities.
The
Overall, during this quarter, Parcel Locker Solutions recorded customer acquisitions with the onboarding of new universities and the signature of the contract with
Additional Operations
Additional Operations recorded revenue of €20 million (8% of total sales) in the first quarter of 2021, up 21.1% on an organic basis compared to the first quarter of 2020.
Growth mainly reflected the increase in revenue from Automated Packing Systems “CVP”.
FULL-YEAR 2021 UPGRADED OUTLOOK
Taking into account the strong performance achieved in Q1 2021, full-year 2021 expected organic sales growth is upwardly revised to above 4% (vs. former guidance of minimum 2% organic sales growth) as well as organic current EBIT5 growth compared to 20206 now expected between 5 and 6% in 2021 (vs. former guidance of between 4 and 6 % organic current EBIT growth).
Q1 2021 BUSINESS HIGHLIGHTS
On
On
Acquisition of Beanworks, a Leading FinTech in SaaS Accounts Payable Automation Solutions
On
Quadient Increases its Commitment to ESG by Joining the United Nations Global Compact as a Signatory Member
On
On
Through an agreement for 500 units to be progressively installed in
Quadient Recognized as Technology Leader in CCM and Customer Journey Mapping by Global Research Firm
On
In the SPARK Matrix Customer Journey Mapping report,
POST-CLOSING EVENTS
Quadient Introduces Inspire Evolve, a Cloud-based Customer Communications Management Solution, and Continues Software Strategy of SaaS Footprint Expansion
On
Inspire Evolve addresses the growing demand for a powerful cloud-based customer communications solution that easily integrates with and streamlines existing technology, requiring minimal implementation lead times and helping teams rapidly design and deliver secure, personalized human-centric communications.
Quadient’s Accounts Receivable Automation Solution
On
Part of Quadient’s Intelligent Communication Automation (ICA) solutions portfolio,
CONFERENCE CALL & WEBCAST
To join the webcast, click on the following link: Webcast.
To join the conference call, please use one of the following phone number:
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A replay of the audio webcast will be available for a period of one year.
CALENDAR
- 1 July 2021: Annual General Meeting (https://invest.quadient.com/en-US/annual-general-meetings);
- Education session on the Mail-Related Solutions activity (event details will be communicated later);
- 27 September 2021: First half 2021 results and second quarter 2021 sales.
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About Quadient®
For more information about
Contacts
+33 (0)1 45 36 61 39 l.sfaxi@quadient.com financial-communication@quadient.com | OPRG Financial +33 (0)1 53 32 61 51 /+33 (0)1 53 32 61 27 isabelle.laurent@oprgfinancial.fr fabrice.baron@oprgfinancial.fr |
+33 (0)1 45 36 31 82 c.baude@quadient.com |
1 Q1 2021 sales are compared to Q1 2020 sales, from which is deducted, prorata temporis, revenue from
2 Current EBIT = current operating income before acquisition-related expenses.
3 On the basis of 2020 current operating income before acquisition-related expenses excluding Parcel Pending’s earn-out reversal, i.e. €145 million.
4 SaaS = Software as a Service
5 Current EBIT = current operating income before acquisition-related expenses.
6 On the basis of 2020 current operating income before acquisition-related expenses excluding Parcel Pending’s earn-out reversal, i.e. €145 million.
Attachment
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