Lumibird Adjusts Its 2023 Growth Target
Lannion, December 14, 2023 – 5:45pm
LUMIBIRD ADJUSTS ITS 2023 GROWTH TARGET
- 2023 revenues expected to exceed €200m, without achieving the 8% organic growth announced previously
- EBITDA margin expected to be over 17%1, below the 20% target
- Roadmap for growth maintained for the coming years, driven by technological innovation
The LUMIBIRD Group (FR0000038242 - LBIRD), the European leader for laser technologies, has reevaluated, a few weeks before its financial year-end, its revenue target for the current year. This has been adjusted to a minimum of €200m, with organic growth of at least 5%, lower than the 8% announced at the start of the year and confirmed at end-October.
The factors behind this adjustment, for the Medical and Photonics divisions, do not call into question the Group’s robust commercial development or its outlook for growth over the medium term. This primarily concerns:
- deliveries deferred from the fourth quarter to 2024 linked to technical delays with the qualification and production of certain product lines;
- orders deferred due to regulatory reasons and scheduling adjustments by some clients;
- persistent unfavorable foreign exchange effects during the fourth quarter.
The Medical division’s robust development is expected to be in line with the 8% announced.
For the Photonics division, the Defense and Space line of business is expected to exceed the 8% announced, while this growth will not offset the temporary contraction affecting the Industrial and Scientific and Lidar -lines of business. However, within the Lidar line of business, the Lidar Systems business will deliver a good performance.
The adjustment of the full-year revenues will mechanically have an impact on the EBITDA margin, which is expected to come in at over 17%, below the 20% announced1.
With strong demand in its growing markets, highlighted by a still very robust order book, Lumibird continues to be confident about its outlook for growth over the short and medium term. The Group has further strengthened its positions both technologically and industrially to continue building on its growth and ramping up its profitability over the coming years.
Next date: 2023 full-year revenues on January 29, 2024 (after close of trading)
LUMIBIRD is one of the world's leading specialists in lasers. With 50 years of experience and a mastering of solid state laser, laser diodes and fiber laser technologies, the Group designs, manufactures and markets high performance lasers for scientific (laboratories and universities), industrial (manufacturing, defense, Lidar sensors) and medical (ophthalmology, ultrasound diagnostic) markets.
Born from the combination of Keopsys Group with Quantel in October 2017, LUMIBIRD has more than 1 000 employees and over €191 million of consolidated revenues in 2022 and is present in Europe, America and Asia.
LUMIBIRD shares are listed on the Euronext Paris B Compartment. FR0000038242 – LBIRD www.lumibird.com
Since 2022, LUMIBIRD is part of Euronext Tech Leaders
Contacts
| LUMIBIRD Marc Le Flohic Chairman and CEO Tel. +33(0) 1 69 29 17 00 info@lumibird.com | LUMIBIRD Sonia Rutnam Chief Financial and Transformation Officer Tel. +33(0) 1 69 29 17 00 info@lumibird.com | Calyptus Mathieu Calleux Investors Relations Tel. +33(0) 1 53 65 37 91 lumibird@calyptus.net |
1 Figures excluding Convergent Photonics, included in the Group’s basis for consolidation since August 31, 2023
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