2021 Annual Revenue
- Q4 revenue of
€220.3 million
- 2021 revenue of €873.8 million
- Profitable double-digit growth in 2022 and a solid
outlook for medium-term growth
Solutions 30 SE today released its revenue
for the 2021 financial year.
- In 2021, the group’s revenue increased by +6.7%
compared to 2020 (+3.5% organic growth) and by +26.4% compared to a
pre-COVID 2019 base. The group’s maintenance business, which is
recurrent in nature, represents 57% of the group’s revenue.
- In Q4 2021, Solutions 30 recorded revenue of
€220.3 million, down -8.4% (-10.9% organic). Compared to Q4
pre-COVID 2019 base, Q4 revenue in 2021 is up 9.5%.
- After posting a solid 20.9% growth in the first half of the
year, Q4 sales followed the same trend than Q3 due to:
-
- A mature market in France, which has normalised after a very
atypical year in 2020, while the growth drivers (energy transition
and 5G) are ramping up at a lower rate than expected due in
particular to pressure along the supply chain.
- Excellent sales momentum in the rest of Europe, with
increasingly sustained growth and a steady stream of opportunities,
driven by unprecedented stimulus pakages. The Benelux and the other
countries are now driving the group’s growth, with revenue up 17.5%
and 28.6% respectively.
- In the current context, these trends are expected to remain in
place in the short term until the supply chain issues normalises
and business returns to its nominal growth.
- In the longer term, Solutions 30 is committed to a
sustained development trajectory in markets with historically high
growth potential.
In millions of euros |
12 months |
Q4 |
2021 |
2020 |
% change |
2021 |
2020 |
% change |
Total |
873.8 |
819.3 |
+6.7% |
220.3 |
240.5 |
-8.4% |
From France |
507.6 |
522.7 |
-2.9% |
115.8 |
159.1 |
-27.2% |
From Benelux |
160.1 |
136.3 |
+17.5% |
45.9 |
36.2 |
+26.8% |
From other countries |
206.1 |
160.2 |
+28.6% |
58.6 |
45.2 |
+29.6% |
Data for 2020 have been restated to consolidate
Worldlink as of January 1, 2020.
A mature market in France
In 2021, Solutions 30 had revenue of
€507.6 million in France, compared to €522.7 million in
2020. In the fourth quarter, the group posted revenue of
€115.8 million in 2021, compared with €159.1 million for
the same period in 2020.
The telecom business posted revenue of €79.4
million in the fourth quarter of 2021, down 32% compared to 2020,
and annual revenue of €360.2 million, down 4%. FTTH network
deployment peaked in the first half of the year and the second half
saw a decline in investments for this business, which in 2020
accounted for 23% of Solutions 30’s telecoms revenue in France. At
the same time, the rate of new subscriber connections has returned
to normal, after a surge in demand due to remote working in the
second half of 2020. These two market factors are still only being
partially compensated by maintenance activities, and this
unfavorable trend has been exacerbated by the fifth wave of COVID,
which disrupted the organization of the field teams at the end of
the year.
Revenue from the energy business amounted to
€16.8 million in the fourth quarter of 2021, down 34% compared
to the same period in 2020. Annual revenue was €80.9 million,
down 8%. Significant drivers of growth are anticipated in the
energy business as the deployment of smart electricity meters winds
down in France. However, the ramp-up of new market segments is
being delayed by current supply chain problems. This is especially
true for the installation of electric vehicle charging stations and
activities related to renewable energies.
The IT business posted quarterly revenue of
€12.6 million, up 18% compared to the fourth quarter of 2020,
while revenue from the security and retail business was up +19% to
€7.0 million compared to €5.9 million a year earlier.
Sustained growth in the Benelux, the
group’s largest market after France
Annual revenue from the Benelux was up 17.5%
(14.0% organic growth) to €160.1 million. Growth accelerated
throughout the year and reached 26.8% (24.9% organic growth) in the
fourth quarter, with revenue of €45.9 million.
The telecom business, which grew purely
organically by 16%, generated quarterly revenue of
€33.3 million and annual revenue of €119.8 million, up
10%. The roll-out of contracts signed in the ultra high-speed
market is beginning to contribute to group revenue.
In the fourth quarter, revenue from the energy
business amounted to €8.6 million, compared to
€2.4 million last year, up 257% (226% organic growth). This
growth is mainly driven by the roll-out of smart meters in Flanders
on behalf of Fluvius. This activity started in the first quarter of
2020 and is now fully developed. For the full year,
Solutions 30 tripled revenue from its energy business,
reaching €24.6 million.
In IT, annual revenue amounted to
€8.8 million, compared to €9.4 million for the previous
year, with fourth-quarter revenue of €2.2 million, compared to
€2.6 million a year earlier. Quarterly revenue from the retail
and security business was €1.7 million and annual revenue was
€6.9 million.
Positive momentum in other
countries
In all other countries, the group posted annual
revenue of €206.1 million, an increase of 28.6% (15.5% organic
growth) compared to 2020.
Fourth-quarter revenue for 2021 was
€58.6 million, up +29.6% (+17.9% organic growth) compared to
the same period in 2020.
In Germany, fourth-quarter revenue in 2021
amounted to €16.3 million, compared to €17.6 million in
2020, and annual revenue was €63.0 million, compared to
€67.2 million for the previous year. The country has launched
numerous initiatives to improve its ultra high-speed
infrastructure, and the reorganization implemented by
Solutions 30 to capture expected growth in this sector should
start to bear fruit in the second half of 2022.
In Italy, revenue grew by 72% (67%
like-for-like) in the fourth quarter of 2021 to €13.8 million,
driven by the contract signed at the beginning of the year with TIM
to deploy its ultra high-speed infrastructure in Piedmont and the
Aosta Valley. Annual revenue from Italy reached €46.6 million,
up 69% (54% like-for-like).
In Spain, business grew purely organically by
30% to €14.5 million in the fourth quarter, thanks to market
share gains in mobile and fixed networks compared to the previous
period. Annual revenue amounted to €53.1 million, up 36%
compared to 2020.
In Poland, the group returned to growth and
recorded quarterly revenue of €7.8 million in 2021, compared
to €6.9 million a year earlier, representing growth of 13%.
Annual revenue remained stable at €25.2 million.
Finally, in the United Kingdom,
Solutions 30 posted quarterly revenue of €6.2 million and
annual revenue of €18.2 million. The group has been operating
in this country since December 2020 and continues its expansion in
both fixed and mobile telecoms. The acquisition of Mono Consultants
Ltd’s assets at the end of the year has brought welcome additions
to the group’s customer portfolio and expertise in 5G.
A new phase of development for a
stronger group
For the group as a whole, the EBITDA margin for
the full year 2021 will be marginally lower than for the first half
of the year, reflecting the contraction of activity in France along
the continued ramp-ups in the Benelux, Italy, and the United
Kingdom. In both the medium and long term, Solutions 30 has
considerable growth levers and the group is confident in its
ability to seize market opportunities that are opening up
throughout Europe.
Solutions 30’s markets, irrespective of
their level of maturity, have significant potential for growth and
are supported by unprecedented stimulus pakages that are channeling
public investment into the digital transformation and energy
transition. Operating in these two major sectors, the group is
ideally positioned to capture significant market share in the
deployment of fiber-optic networks in countries that are still
under-equipped (Benelux, United Kingdom, Poland, Italy, and
Germany), the development of 5G, the development of electric
mobility, and the roll-out of renewable energies.
As it enters this new phase of growth, the group
is pursuing its transformation plan with the objective of
implementing strengthened and harmonized risk management,
compliance, and governance procedures in the first half of 2022.
Solutions 30 continues to benefit from a sound financial
structure and the renewed confidence of its financial partners
following the interim review of the group’s financial statements by
its new statutory auditor.
Solutions 30 now has stronger fundamentals
to resume its growth strategy combining organic external growth. As
such, the group is targeting of double-digit revenue growth in
2022.
Gianbeppi Fortis, CEO of Solutions 30
concludes:
“In 2021, revenues generated by the new
activities of the group represented €50 million despite the
pandemic and the supply chain issues. We expect this figure to
double again by the end of 2022. In its nearly 20 years of
existence, Solutions 30 never had such a buoyant outlook on its
markets. The company will indeed benefit from both structural
growth levers and massive stimulus packages focused on digital
transformation and energy transition. The duplication of the model
that made us successful in France is clearly underway, with each of
the countries where we currently operate having the potential to
reach the size the French market has so far achieved.”
Upcoming events – 2022
Financial Calendar
2021 Earnings Report and 2022 Q1 Revenue Report : April 27,
2022 Blackout period starting March 29
2022 HY Revenue Report : July 27, 2022 Blackout period starting
July 13
2022 HY Earnings Report : September 28, 2022 Blackout period
starting August 30
2022 Q3 Revenue Report : October 27, 2022 Blackout period
starting October 13
About Solutions 30
SE
The Solutions 30 group is the European
leader in solutions for new technologies. Its mission is to make
the technological developments that are transforming our daily
lives accessible to everyone, individuals and businesses alike.
Yesterday, it was computers and the Internet. Today, it’s digital
technology. Tomorrow, it will be technologies that make the world
even more interconnected in real time. With more than
30 million call-outs carried out since it was founded and a
network of more than 15,700 local technicians, Solutions 30
currently covers all of France, Italy, Germany, the Netherlands,
Belgium, Luxembourg, the Iberian Peninsula, the United Kingdom, and
Poland. The share capital of Solutions 30 SE consists of
107,127,984 shares, equal to the number of theoretical votes
that can be exercised.Solutions 30 SE is listed on the
Euronext Paris exchange (ISIN FR0013379484- code S30). Indexes:
MSCI Europe ex-UK Small Cap | SBF 120 | CAC Mid 60 | NEXT 150
| CAC Technology | CAC PME. Visit our website for more information:
www.solutions30.com
Contact
Individual Shareholders:Investor Relations -
Tel: +33 1 86 86 00 63 - shareholders@solutions30.com
Analysts/Investors:Nathalie Boumendil - Tel: +33
6 85 82 41 95 - nathalie.boumendil@solutions30.com
Press - Image 7:Leslie Jung - Tel: +44 7818
641803 - ljung@image7.frCharlotte Le Barbier - Tel: +33 6 78 37 27
60 - clebarbier@image7.fr
Glossary
Organic
growth
Organic growth includes the organic growth of acquired companies
after they are acquired, which Solutions 30 assumes they would
not have experienced had they remained independent.
The group’s growth is detailed in the table
below:
|
12 months 2020 |
|
12 months 2021 |
|
|
Total |
|
Organic growth of existing subsidiaries |
Organic growth from acquired companies |
Acquisitions |
Total |
|
|
|
Value |
% |
Value |
% |
Value |
% |
Value |
Change |
Total |
819.3 |
|
27.6 |
3.4% |
1.3 |
0.2% |
25.6 |
3.1% |
873.8 |
6.7% |
From France |
522.7 |
|
-15.1 |
-2.9% |
- |
- |
- |
- |
507.6 |
-2.9% |
From Benelux |
136.3 |
|
19.0 |
13.9% |
0.2 |
0.1% |
4.6 |
3.4% |
160.1 |
17.5% |
From
other countries |
160.2 |
|
23.7 |
14.8% |
1.1 |
0.7% |
21.0 |
13.1% |
206.1 |
28.6% |
These figures have been rounded and their sum may not perfectly
match the totals given.
Solutions 30 (EU:S30)
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