LUMIBIRD: strong growth maintained, with H1 revenues up 21.2% to €51.3m

The LUMIBIRD (Paris:LBIRD), the European for laser technologies, is reporting revenues of €51.3m for the first half of 2019, up 21.2%, reflecting its robust industrial and commercial development in line with expectations for the four divisions.

(1) Compared with the figures published one year ago, the segmentation of the activities has been reviewed to reintegrate the activities relating to the military and space sectors into the Defense division. These were previously included in the Industrial and Scientific division and, to a lesser extent, the Lidar Sensors division.

The Lumibird consolidated revenues climbed to €51.3m in the first half of 2019, up 21.2% (20.3% at constant exchange rates) from the first half of 2018. It reflects the positive trends for business across all the markets on which is present.

Industrial and Scientific

The Industrial and Scientific segment recorded an increase of +9.9% in the second quarter (to €7.7m), following a stable first quarter. This improvement is linked in part to positive seasonality effects and illustrates the first benefits of the dynamic commercial development launched over the past few months on this market segment.

Lidar Sensors

The Lidar business is continuing to progress, with Q2 revenues of €4.7m (+41.5% from the second quarter of 2018), in line with the expectations and the ramping up of production capacity. The outlook for the end of the year is encouraging, based on the progression in the order book and the quality of the business portfolio.

Defense / Space

The Defense and Space division’s half-year growth, up +32.8% with €11.3m, was concentrated over the first quarter (+111.5% to €6.2m), linked primarily to the percentage of completion method used for recording the MegaJoule business, with the majority of its purchases made in the first quarter. The other Defense and Space programs, particularly the amplifiers for the European Space Agency (ESA) atmospheric lidar (ATLID) program, are moving forward in line with their schedules. A new program to develop military lasers through a Tier 1 integrator was signed up at the start of the year: it will be rolled out over a three-year period and is expected to be followed by a number of manufacturing programs.

Medical

The Medical division once again recorded double-digit growth in the second quarter (+12.2% to €9.5m), driven by the success of its new products. For instance, sales of the new dry eye diagnosis and treatment range are starting up strongly, while the new products launched over the last few months in the ocular ultrasound and glaucoma treatment sector are ramping up. These solutions are further strengthening Quantel Medical’s position for ultrasound diagnosis and confirm the potential of its solutions for treating glaucoma. The launch of the Polish subsidiary, integrating sales for the various ranges previously entrusted to distributors, also contributed to half-year growth.

Outlook

Buoyed by its visibility over existing programs and its robust commercial progress, the is continuing to move forward with its development, particularly in its three strategic sectors: Lidars, Defense / Space and Medical.

Lumibird is able to confirm its strategic targets for 2021, with revenues of €150m (excluding external growth) and an EBITDA margin of over 20%.

Next date: H1 2019 earnings on September 25, 2019 after close of trading

LUMIBIRD is one of the world’s specialists in lasers. With 50 years of experience and a mastering of solid state laser, laser diodes and fiber laser technologies, the designs, manufactures and markets high performance lasers for scientific (laboratories and universities), industrial (manufacturing, defense, Lidar sensors) and medical (ophthalmology) markets.

Born from the combination of Keopsys with Quantel in October 2017, LUMIBIRD has more than 500 employees and over €100 million of revenues and is present in Europe, America and Asia.

Source: https://www.lumibird.com/

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