The SergeFerrari group achieves a turnover of 170 million euros in the first half of 2022, with organic growth of 15.9%

SAINT-JEAN-DE-SOUDAIN, France–(BUSINESS WIRE)–Regulatory news:

The SergeFerrari group (FR0011950682 – SEFER), world leader in innovative flexible composite materials under the Serge Ferrari and Verseidag brands and listed on Euronext Paris – Compartment C, today announces its sales for the first half of 2022.

Breakdown of revenue by region (unaudited)

(in thousands of euros)

Q2 2022

Q2 2021

Ch. to

running

scope and

swap

rates

Ch. to

constant

scope and

swap

rates

H1

2022

H1

2021

Ch. to

running

scope and

swap

rates

Ch. to

constant

scope and

swap

rates

North Europe

33 118

31,582

+4.9%

+4.0%

64,020

55,931

+14.5%

+13.6%

Southern Europe – Americas

43,239

39,025

+10.8%

+9.3%

80,471

68,442

+17.6%

+16.7%

Asia – Africa – ME – Pacific

14,621

10,037

+45.7%

+38.0%

25,549

20,336

+25.6%

+19.7%

Total revenue

90,978

80,644

+12.8%

+10.8%

170,040

144,709

+17.5%

+15.9%

Sébastien Baril, Chairman of the Executive Board of the SergeFerrari Group, said: “The SergeFerrari group continues to grow in the first half of 2022, confirming the solidity of its strategic positioning, the structural dynamics of its markets and the quality of its relationships with its customers and partners. Despite a high base effect, we achieved double-digit organic growth, driven by our ability to pass on part of the rise in raw materials and energy prices. The slight drop in our volumes, compared to our historical record in the first half of 2021, is the result of the containment measures in China, which severely limited the activity of our sales teams and increased the supply difficulties for certain materials. We look to the second half with confidence thanks to our leading position in our strategic markets, while remaining flexible in the face of health uncertainties and inflationary pressures. »

Q2 2022 activity: revenue of €91.0 million

Q2 2022 revenue amounted to €91.0 million, up 12.8% at current scope and exchange rates and 10.8% at constant scope and exchange rates, despite a high comparison base (performance history of Q2 2021 which shows a growth of 117% compared to 2020). This growth is explained by the continued strong demand in all of the Group’s businesses, combined with an increase in selling prices due to the rise in supply costs. Thus, over the quarter, the price mix effect contributed 19.5% to sales growth. The volume effect (-8.6%) illustrates the trade-offs made by the Group in terms of geographical allocation of sales, production constraints related to component supplies and the availability of intercontinental logistics.

Over the period, sales are well oriented in all regions of the Group:

  • In North Europe, sales increased by 4.9% to 33.1 million euros. At constant scope and exchange rates, sales growth was 4.0%.

  • In Southern Europe – Americas, sales are also up by 10.8% at current scope and exchange rates and by 9.3% at constant scope and exchange rates. Growth was driven by the good performance of the solar protection market and architectural projects.

  • In Asia-Pacific-Middle East-Africabusiness was particularly dynamic, with strong growth of 45.7% at current scope and exchange rates and 38.0% at constant scope and exchange rates, driven by an upturn in activity in the Tensile Architecture business with the return of infrastructure projects and favorable momentum at FIT

Activity for 1st semester 2022

The Group achieved cumulative revenue of €170.0 million in the first half of 2022, up 17.5% at current scope and exchange rates and 15.9% at constant scope and exchange rates . During this period, SergeFerrari Group continues to benefit from its innovative product offering of lightweight and durable components, perfectly in line with trends in its four strategic markets. At the same time, in a context of supply tensions and pressure on industrial facilities, the Group continued to improve its flexibility to meet customer demand.

In the first half, the impact of exchange rate fluctuations on Group sales was up 1.6%, with an almost neutral volume effect of -1.2%. The price mix effect contributed +17.1%.

Despite an unfavorable base effect, while the Group had achieved record sales in the first half of 2021, the SergeFerrari Group achieved good sales growth in each of its three geographical areas:

North Europe records a 14.5% increase in revenue compared to H1 2021 at current scope and exchange rates and 13.6% at constant scope and exchange rates;

South Europe-Americas recorded a 17.6% increase in revenue at current scope and exchange rates and 16.7% at constant scope and exchange rates;

Asia-Pacific-Middle East-Africa has been the best performing region, with sales growth of 25.6% at current scope and exchange rates and 19.7% at constant scope and exchange rates.

Outlook

The sustained business momentum in H1, combined with a proven flexible supply and production chain, enabled the Group to raise its 2022 annual revenue target to €335 million. At the same time, the Group will remain vigilant as to the evolution of the health situation in the various areas where it operates, as well as the inflation of the prices of materials/energy, and will focus, as always, on its level of profitability. .

Financial calendar

– Publication of H1 2022 results on Monday, September 5, 2022, after market close

ABOUT THE SERGEFERRARI GROUP

Marketing its products under two brands, Serge Ferrari and Verseidag, the Serge Ferrari Group is one of the world’s leading suppliers of composite materials for Tensile Architecture, Modular Structures, Solar Protection and Furniture/Marine, on a global market. estimated by the Company at approximately €6. billion. The unique characteristics of these products allow applications that meet major technical and societal challenges: energy-efficient buildings, energy management, performance and durability of materials, concern for comfort and safety, opening up of interior living spaces, etc. Its main competitive advantage is based on the implementation of proprietary technologies and differentiating know-how. The Group has production sites in France, Switzerland, Germany, Italy and Asia. Serge Ferrari is present in 80 countries through subsidiaries, sales offices and a global network of more than 100 independent distributors.

In 2021, Serge Ferrari achieved consolidated revenue of €285.9 million, of which more than 80% was generated outside France. The SergeFerrari Group share is listed on Euronext Paris – Compartment C (ISIN: FR0011950682). The SergeFerrari Group share is eligible for PEA-PME and FCPI. www.sergeferrari.com

About Gertrude H. Kerr

Check Also

Growing Furniture Bank

CINCINNATI — More work-from-home jobs are helping a furniture bank grow. What do you want …