2023 Q1 Revenue Report
- Revenue up +14.6% in the first quarter of 2023 to
€255.3 million
- Confirmation of the group’s excellent momentum in the Benelux
and “Other Countries”
- Confirmation of long-term outlook for sustained growth
In millions of euros |
Q1 |
2023 |
2022 |
% change |
Total |
255.3 |
222.7 |
+14.6% |
From France |
101.6 |
116.7 |
-12.9% |
From Benelux |
82.8 |
46.7 |
+77.2% |
From Other Countries |
70.8 |
59.3 |
+19.5% |
Solutions30 posted consolidated revenue of
€255.3 million in the first quarter of 2023, up 14.6% compared
to the same period in 2022 (14.5% organic growth). This performance
was driven by particularly robust growth in the Benelux, Italy, and
Poland.
In France, revenue for the
first quarter of 2023 amounted to €101.6 million compared to
€116.7 million a year ago. France now accounts for 40% of the
group’s revenue.
Connectivity Solutions generated revenue of
€72.1 million, down 15% compared to the first quarter of 2022,
as the market overall remains under pressure. As previously stated,
the positive impact from the market share gained in the Southeast
will not be apparent until the second quarter of the year.
Revenue from Energy Solutions amounted to
€11.9 million compared to €15.9 million the previous
year, a decline of 25%. This business remains strongly impacted by
the end of smart meter deployments in France, which only
contributed revenue of €1.6 million over the period. Other
activities, related to electric mobility and renewable energies,
are not yet compensating for this loss of revenue. The pace of
deployment for these new activities is still irregular which is
typical of all new activities, as customers adjust their business
model and operational processes, particularly in the B2C segment.
Although they are part of a long-term sustainable growth strategy,
revenue from these activities was stable in the first quarter of
2023 compared to the first quarter of 2022.
Finally, Technology Solutions posted revenue of
€17.7 million, up 9% over the quarter, driven by the increase
in payment solution and security system installations, as well as
related maintenance.
In the Benelux, revenue in the
first quarter of 2023 amounted to €82.8 million compared to
€46.7 million a year earlier, representing organic growth of
77.2%.
Revenue from Connectivity Solutions was up 92%
over the quarter to €63.5 million, compared to
€33.0 million in the first quarter of 2022. Solutions30 is one
of the main players for fiber-optic deployments in the region and
therefore stands to benefit substantially from momentum in this
market.
Revenue from Energy Solutions was up 52% at
€14.6 million, compared with €9.6 million a year earlier.
This business is driven by the ongoing deployment of smart meters
in Flanders as well as the start of new contracts related to
renewable energies and electric mobility.
Revenue from Technology Solutions was up 15% to
€4.8 million, compared with €4.2 million a year
earlier.
In all other countries, the
group’s quarterly revenue was up 19.5% (19.2% organic growth) to
€70.8 million, compared to €59.3 million a year
earlier.
In Germany, revenue amounted to
€16.2 million compared to €14.4 million a year earlier,
thanks to the telecom sector where the dynamic has begun to
improve. Revenue in this market is still derived from historical
activities (cable and DSL). Fiber-optic deployments are expected to
start in the second half of the year.
In Italy, revenue grew by 30% in the first
quarter of 2023 to €19 million, driven by ultra-fast
infrastructure deployments in Piedmont and the Aosta Valley on
behalf of TIM and OpenFiber.
On the Iberian Peninsula, revenue grew
organically by 8% to €15.8 million. Energy Solutions, in
particular the installation of electric charging stations, is the
biggest contributor to this quarter’s growth.
In Poland, revenue amounted to
€11.6 million, up 74% (71% organic growth) thanks to market
share gains in the Warsaw region and momentum from mobile-related
activities.
Finally, in the United Kingdom, Solutions30
generated revenue of €8.3 million for the quarter, down 7%,
which is explained by the ongoing shift of telecom activities to
the more promising fiber segment.
Outlook
The group is off to a good start and is on track
to return to double-digit growth in 2023, to surpass the €1-billion
revenue milestone, and to gradually improve its margins over the
course of the year.
In a market environment marked by inflation and
rising interest rates, the group remains confident for the medium
and long term. It will prioritize growth to reach a critical size
in all the geographical areas where it operates.
Upcoming event
2023 Q2 Revenue Report: July 25, 2023
About Solutions30
SE
The Solutions30 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
65 million call-outs carried out since it was founded and a
network of more than 15,000 local technicians, Solutions30
currently covers all of France, Italy, Germany, the Netherlands,
Belgium, Luxembourg, the Iberian Peninsula, the United Kingdom, and
Poland. The share capital of Solutions30 SE consists of
107,127,984 shares, equal to the number of theoretical votes
that can be exercised.Solutions30 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:Charlotte Le Barbier - Tel:
+33 6 78 37 27 60 - clebarbier@image7.frLeslie Jung - Tel: +33 6 78
70 05 55 - ljung@image7.fr
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