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    ALCLA   FR0004152882

CLASQUIN

(ALCLA)
  Report
Real-time Quote. Real-time Euronext Paris - 10/22 11:25:03 am
69.4 EUR   +0.58%
09/23CLASQUIN : 2021_09_23 Kepler
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09/23CLASQUIN : 2021 – Half year results presentation
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09/23CLASQUIN : 2021 – Résultats Semestriels
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CLASQUIN : 2021 – Half year results

09/22/2021 | 12:02pm EDT

FINANCIAL PRESS

RELEASE

www.clasquin.com

Lyon, 22 September 2021 (after-market closure)

H1 2021

ROBUST GROWTH IN BUSINESS VOLUMES

AND EARNINGS

H1 2021

%GP

H1 2020

%GP

H1 2021/H1

H1 2019

H1 2021/H1

2020

2019

CONSOLIDATED

FINANCIAL

STATEMENTS*

Number of shipments

143,795

115,272

+24.7%

132,090

+8.9%

Sales (€m)**

293.8

181.4

+62.0%

154.0

+90.8%

Gross profit (€m)

51.9

100.0%

36.1

100.0%

+43.6%

36.1

+43.5%

EBITDA (€m)

13.7

26.5%

7.0

19.3%

+97.1%

6.5

+110.6%

Current operating income

10.3

19.8%

2.8

7.6%

+272.0%

3.9

+165.7%

(€m)

Consolidated net profit (€m)

7.0

13.4%

0.9

2.6%

+637.4%

2.3

+205.9%

Net profit Group share

6.5

12.5%

0.7

2.0%

+814.4%

1.9

+240.0%

(€m)

  • Unaudited financial statements approved by the Board of Directors on 21 September 2021
  • Sales is not a relevant indicator of business in our sector, as it is greatly impacted by changing air and sea freight rates, fuel surcharges, exchange rates (particularly versus USD), etc. Changes in the number of shipments, volumes shipped and, in financial terms, gross profit are relevant indicators.

H1 2021 HIGHLIGHTS

Completion of development projects now fuelling growth

  • Spain:
    January acquisition of the Columbus Transit SA business by CLASQUIN Spain.
    5-member team managing annual gross profit of around €0.7m.
  • Belgium:
    Creation of CLASQUIN BELGIUM followed on 1 April by this entity's acquisition of the business assets represented by the international activities of INTERLINES Belgium.
    Team of approximately 20 people generating annual gross profit of around €1.5m.
  • France:
    Q2 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.
    Annual gross profit around €1.8m.
    This company was consolidated from 1 January (control effectively obtained).

FINANCIAL PRESS

RELEASE

www.clasquin.com

Ongoing deployment of the LIVE by CLASQUIN collaborative digital platform and expansion of the client offering

Scope covered by LIVE at 30 June 2021: 160 clients generating 24% of Group gross profit.

H1 2021 BUSINESS VOLUMES AND EARNINGS

The dramatic increase in gross profit (up 43.6% versus H1 2020 and up 43.5% versus H1 2019) was driven by:

  • robust growth in volumes shipped by air and by sea (up 22.4% and 28.0% respectively) fuelled by dynamic core business and the acquisition of new clients
  • expansion of our added value offering: digital platform, project business, etc.
  • the completion of development projects
  • unprecedented market conditions (port and airport congestion, shortage of containers, etc.) resulting in major disruptions to international supply chains and a sharp rise in global sea freight rates.

These extreme conditions demanded exceptional commitment on the part of our teams, who managed to keep client supply chains up and running and deploy strengthened resources and solutions to make up for market operator shortcomings (hiring containers, cross-continental route offerings, chartering, etc.).

Under these unprecedented circumstances, the Group also carried out a recruitment drive (headcount up 7%, 1/3 of whom originated from our development projects), which is expected to continue throughout the second half in view of the pace of business growth.

This hiring campaign combined with the base effect of 2020 impact of the multiple temporary expense relief measures resulted in a 30.8% increase in operating expenses, comprising external charges and payroll (up 18% versus 2019 at constant consolidation). However, as operating expenses increased less than gross profit, the Group managed to double EBITDA (up 97.1%).

Current operating income (EBIT) increased fourfold (up 272.0%) as a result of lower provision charges in H1 2021 versus H1 2020, when the pandemic was in full sway.

Accordingly, the EBIT/GP ratio increased from 7.6% to 19.8%.

On the bottom line, consolidated net profit increased sevenfold (up 637.4%) while net profit Group share was multiplied by more than nine (up 814.4%), mainly due to the use of previously unrecognised tax losses (€0.5m).

FINANCIAL POSITION

30/06/2021

31/12/2020

31/12/2019

(6 months)

(12 months)

(12 months)

Gross operating cash flow (€m)

13.5

15.1

13.3

% of gross profit

26.1%

19.8%

17.3%

Shareholders' equity (€m)

33.6

30.9

26.8

Net debt (€m)

47.3

31.6

28.2

Leverage (net debt/EBITDA)*

1.7

1.9

2.0

Shareholders' equity (excl. IFRS 16) (€m)

33.7

31.1

27.0

Net debt (excl. IFRS 16) (€m)

36.1

22.6

18.6

Leverage (excl. IFRS 16)*

1.5

1.6

1.7

* H1 EBITDA doubled.

The increase in net debt was mainly due to the increase in working capital (up €16m) resulting from the increase in sales (up

62%) and current market conditions that are lengthening the operating cycle.

On the other hand, the sharp rise in EBITDA allowed the Group to improve leverage and, therefore, its ability to finance its

development.

FINANCIAL PRESS

RELEASE

www.clasquin.com

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 and earnings: outperforming significantly market growth

UPCOMING EVENTS (publication after-market closure)

CONTACTS CLASQUIN

Thursday 28

October 2021

Q3 2021 business report

Philippe LONS - Directeur général délégué/Directeur financier

Thursday 24

February 2022

Q4 2021 business report

Domitille CHATELAIN - Group Head of Communication & International

Tuesday 22 March 2022

FY 2021 results

Marketing Executive

Thursday 28

April 2022

Q1 2022 business report

Groupe CLASQUIN - 235 cours Lafayette - 69006 Lyon

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

CLASQUIN est un spécialiste de l'ingénierie en transport aérien et maritime et en logistique Overseas. Le Groupe se positionne en architecte et

maître d'œuvre de toute la chaîne de transport et de logistique Overseas : il pilote et organise les flux de marchandises de ses clients, entre la France

et le monde et plus particulièrement de et vers l'Asie Pacifique, l'Amérique du Nord, le Maghreb et l'Afrique subsaharienne.

Le titre est coté sur EURONEXT GROWTH, ISIN FR0004152882, Reuters ALCLA.PA, Bloomberg ALCLA FP. Pour plus d'information, merci de

consulter notre site www.clasquin.com.

CLASQUIN est éligible au PEA PME conformément à l'article D221-113-5 du Code monétaire et financier créé par le décret n°2014-283 du 4 mars

2014 et à l'article L221-32-2 du Code monétaire et financier fixant les conditions d'éligibilité (moins de 5 000 salariés et chiffre d'affaires annuel

n'excédant pas 1 500 millions d'euros ou total de bilan n'excédant pas 2 000 millions d'euros)."

CLASQUIN fait partie de l'indice EnterNext© PEA-PME 150.

LEI : 9695004FF6FA43KC4764

Disclaimer

Clasquin SA published this content on 22 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 September 2021 16:01:03 UTC.


© Publicnow 2021
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Financials
Sales 2021 425 M 495 M 495 M
Net income 2021 12,1 M 14,1 M 14,1 M
Net Debt 2021 36,2 M 42,1 M 42,1 M
P/E ratio 2021 13,3x
Yield 2021 1,87%
Capitalization 159 M 185 M 185 M
EV / Sales 2021 0,46x
EV / Sales 2022 0,36x
Nbr of Employees 925
Free-Float 36,5%
Chart CLASQUIN
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CLASQUIN Technical Analysis Chart | ALCLA | FR0004152882 | MarketScreener
Technical analysis trends CLASQUIN
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 2
Last Close Price 69,40 €
Average target price 73,50 €
Spread / Average Target 5,91%
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