LECTRA MANAGEMENT DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS AND RESULTS OF OPERATIONS FOR FIRST QUARTER 2024
Dear Shareholders,
We report below on Lectra group's (the "Group") business activity and consolidated financial statements for the first quarter ending March 31, 2024. These financial statements include those of Launchmetrics, which have been consolidated since January 23, 2024.
To facilitate the analysis of the Group's results in its new scope (the "Lectra 2024 Scope"), the accounts of Lectra excluding Launchmetrics (the "Lectra 2023 scope") and those of Launchmetrics are analyzed separately. Unless otherwise specified, the detailed 2024 vs 2023 comparisons for Lectra 2024 scope and for Launchmetrics results are based on actual exchange rates, whereas the results for the "Lectra 2023 scope" are stated on a like-for-like basis.
Orders are reported using two indicators: on the one hand, orders for new systems, which include the value of software sold separately under perpetual software licenses, equipment and accompanying software (also sold in the form of perpetual licenses) and non-recurring services; and on the other hand, new software subscriptions, measuring the annual value of new SaaS contracts (Software-as-a-Service).
The detailed tables of orders for new systems, of revenues, and of the income statements for the first quarter are provided in the additional information of this report, starting on page 6.
1. RESULTS OF OPERATIONS FOR Q1 2024
Lectra 2024 scope
The macroeconomic environment remained highly challenging in the first quarter, with limited visibility and an extremely heterogeneous situation across markets.
Q1 2024 revenues amounted to 129.6 million euros, up 5% compared to Q1 2023, with the following breakdown: 38.7 million euros in revenues from new systems (30% of total revenues); and 90.8 million in recurring revenues (70% of total revenues) including 16.5 million in subscriptions for software (13% of total revenues).
EBITDA before non-recurring items totaled 21.1 million euros, up 7%, and the EBITDA margin before non-recurring items was 16.3%.
Launchmetrics contributed 8.3 million euros to revenues and 1.1 million euros to EBITDA before non-recurring items (representing an EBITDA margin before non-recurring items of 13.2%).
Income from operations before non-recurring items amounted to 11.2 million euros (12.1 million euros in Q1 2023), down 8%. This included a 5.2 million euros charge for amortization of intangible assets arising from the acquisitions carried out since 2021, of which 2.0 million euros for Launchmetrics.
After a non-recurring charge of 0.2 million euros, income from operations in Q1 came to 11.0 million euros, down 9% compared the year before.
Net financial income and expenses represented a net charge of 1.6 million euros. Foreign exchange gains and losses generated a net loss of 0.4 million euros. After an income tax expense of 2.3 million euros, net income
Lectra | 1 | Financial Report at March 31, 2024 |
amounted to 6.7 million euros (-9% at actual exchange rates relative to Q1 2023). Net earnings per share were €0.19 on basic capital and on diluted capital (€0.20 on basic capital and diluted capital in Q1 2023).
Revenues and income in Q1 are in line with the Group's roadmap, which recognized the positive impact of the order backlog at January 1, 2023, and therefore the higher comparable figured recorded in Q1 2023.
A particularly high current free cash flow
Free cash flow before non-recurring items came to 22.0 million euros (9.2 million euros in Q1 2023). After disbursement of 1.2 million euros in respect of non-recurring expenses, free cash-flow came to 20.8 million euros, due to a higher level of advance payment than in the first quarter of 2023 and the contribution of free cash flow from Launchmetrics.
A still very robust balance sheet, after the Launchmetrics acquisition
At March 31, 2024, the Group had a particularly robust balance sheet with a consolidated shareholders' equity of 341.6 million euros and a net financial debt of 18.8 million euros. The cash position consisted in financial debt of 119.3 million euros and cash of 100.5 million euros, after payment of 39.3 million euros in respect of the first tranche of the acquisition of Launchmetrics, or roughly half the total amount (the balance of this first tranche will be paid in June 2024).
The working capital requirement, related to the regular activity at March 31, 2024 was a negative 5.9 million euros, this is one of the key characteristics of Lectra's business model.
Lectra 2023 scope
With an average exchange rate of $1.09/€1 in Q1, the dollar declined by 1% compared to Q1 2023 and the yuan declined by 6% against the euro. Currency changes mechanically decreased revenues by 1.4 million euros (-1%) and EBITDA before non-recurring items by 0.7 million euros (-3%) at actual exchange rates, compared to like-for-like figures.
New system orders
Q1 2024 orders reflect a mixed picture, with a high level in the automotive market in Asia, in particular due to the increased number of airbags per vehicle, and a low level in the other market sectors or geographies.
Orders for new systems (35.4 million euros) were up 0.3%. Orders for perpetual software licenses (3.5 million euros), equipment and accompanying software (27.4 million euros) and training and consulting (3.7 million euros) evolved by -4%, +3% and -3% respectively.
The annual value of orders for new software subscriptions came to 2.4 million euros, decreasing by 0.2 million euros compared to 2023.
Revenue
Revenues in Q1 2024 came to 121.3 million euros, a 1% decline from the same period a year before. Recurring revenues continued to grow (+5%) whereas revenues from new systems, which had benefited from the high level of new system orders in Q4 2022, were 12% lower than a year before.
Revenues from software licenses, equipment and accompanying software, and non-recurring services
Revenues from new systems (38.2 million euros) were down 12%. This item contributed 31% of revenues
(35% in 2023), and included mainly:
- perpetual software licenses (4,0 million euros), which decreased by 2% and accounted for 3% of revenues, like in 2023;
- equipment and accompanying software (28.9 million euros), which decreased by 13% and accounted for 23% of revenues (27% in 2023);
- training and consulting (4.5 million euros), which decreased by 3% and accounted for 4% of
Lectra | 2 | Financial Report at March 31, 2024 |
revenues, like in 2023.
At March 31, 2024, the order backlog for new systems amounted to 32.6 million euros, down by 2.6 million euros compared to December 31, 2023, at actual exchange rates.
Revenues from recurring contracts, consumables and parts
Revenues from recurring contracts, which represented 40% of revenues (36% in 2023), amounted to
47.4 million euros, a 9% increase:
- software subscriptions (8.8 million euros), up 33%, represented 7% of revenues (5% in 2023);
- software maintenance contracts (13.4 million euros), up 1%, represented 11% of revenues, like in 2023;
- equipment and accompanying software maintenance contracts (25.2 million euros), up 7%, represented 22% of revenues (19% in 2023).
In parallel, revenues from consumables and parts (35.7 million euros) were up 1% and represented 29% of revenues, like in 2023.
Overall, recurring revenues (83.1 million euros) were up 5%.
Gross profit
Gross profit amounted to 84.3 million euros, up 1% compared to 2023.
The gross profit margin came to 69.5%, up 1.1 point.
Personnel expenses and other operating expenses incurred in the execution of service contracts or in training and consulting are not included in the cost of goods sold but are accounted for in overhead costs.
Overhead costs
Overhead costs were 71.9 million euros, down 0.4% compared to 2023. The breakdown is as follows:
- 66.4 million euros in fixed overhead costs, down by 1% compared to 2023;
- 5.5 million euros in variable costs, +14% compared to 2023.
Research and development costs (14.9 million euros), which are fully expensed in the period and included in fixed overhead costs, represented 12.3% of revenues (13.6 million euros and 11.0% of revenues in Q1 2023). After deducting the research tax credit applicable in France and grants received, net research and development costs totaled 13.6 million euros (12.7 million euros in 2023).
EBITDA before non-recurring items
EBITDA before non-recurring items totaled 20.0 million euros, up 5% (+1% at actual exchange rates) and the EBITDA margin before non-recurring items was 16.5%, up 0.8 percentage points (0.5 percentage points at actual exchange rates).
2. SHARE CAPITAL - OWNERSHIP - SHARE PRICE PERFORMANCE
Change in share capital
At March 31, 2024, the share capital came to €37,868,178, divided into 37,868,178 shares with a par value of €1.00. Share capital increased by €35,213 (with a total share premium of €475,376) due to the creation of 35,213 shares since January 1, 2024, resulting from the exercise of stock options.
Lectra | 3 | Financial Report at March 31, 2024 |
Main shareholders
On February 28, 2024, the Company was informed that on February 21, 2024, AIPCF VI LG Funding LP (United States) had fallen below the 5% thresholds of share capital and voting rights and held as at that date 3.82% of the share capital and 3.80% of the voting rights.
On February 25, 2024, Daniel Harari, who had held 14.6% of the share capital and 14.5% of the voting rights, reported to the Company that he had sold 700,000 shares of Lectra to repay loans taken out many years before, and did not intend, in the foreseeable future, to sell other shares of the Company.
At the date of publication of this report, and to the Company's knowledge:
- Daniel Harari holds 12.7% of the capital and 12.6% of the voting rights;
- Alantra EQMC Asset Management SGIIC (Spain), Brown Capital Management (United States), Fidelity Management and Research (United States) and Kempen Oranje Participaties (The Netherlands) each hold more than 5% (and less than 10%) of the share capital and voting rights.
No other shareholder has reported holding more than 5% of the share capital and voting rights.
Treasury shares
At March 31, 2024, the Company held 0.07% of its own shares in treasury shares, within the framework of the liquidity agreement contracted with Natixis ODDO BHF.
Share price performance and trading volumes
The Company's share price at March 29, 2024 was €32.35, up 3.5% compared to December 29, 2023 (€31.25). During Q1, it reached a low of €28.60 on January 10 and a high of €35.20 on February 16.
The market capitalization amounted to 1.22 billion euros at March 31, 2024 (1.18 billion euros at December 31, 2023).
For the first three months of 2024, the SBF 120 index, of which the Company has been a member since September 15, 2023, increased by 8%.
According to Bloomberg, 5.4 million shares were traded on all platforms in Q1 2024 (6.1 million in Q1 2023), including 22% on Euronext.
The Company's shares are eligible for the Euronext Deferred Settlement Service (SRD), which allows French investors to defer settlement or delivery of shares.
3. SIGNIFICANT POST-CLOSING EVENTS SINCE MARCH 31, 2024
No significant event has occurred.
4. FINANCIAL CALENDAR
The 2023 Annual Financial Report was published on Lectra's website on March 29, 2024.
The Annual Shareholders' Meeting will be held on April 26, 2024, in the Company's offices.
The first-half 2024 financial results will be published on July 25, 2024, after the close of trading on Euronext.
5. BUSINESS TRENDS AND OUTLOOK
In its financial report on the fourth quarter and full year 2023, published February 14, 2024, Lectra reiterated its long-term vision, as well as the objectives of its 2023-2025 strategic roadmap.
Lectra | 4 | Financial Report at March 31, 2024 |
The Group also stated that while the substantial improvement in the fundamentals of the Group's business model in 2023 would have a positive impact on 2024 results, persistent macroeconomic and geopolitical uncertainties could continue to weigh on investment decisions by its customers.
While business in Q1 remained subdued, the increase in EBITDA - which exceeded growth in revenues -- confirms the improved fundamentals of the Group's business model.
2024 financial objectives confirmed
On February 14, the Group reported its objectives for 2024, before including the Launchmetrics acquisition (i.e. for the Lectra 2023 scope): to achieve revenues in the range of 480 to 530 million euros (+2% to +12%) and EBITDA before non-recurring items in the range of 85 to 107 million euros (+10% to +40%).
The Group also reported that Launchmetrics revenues (for the consolidation period from January 23 to December 31, 2024) were projected to be in the range of 42 to 46 million euros, with an EBITDA margin before non-recurring items of more than 15%.
These scenarios were prepared on the basis of the closing exchange rates on December 29, 2023, and particularly $1.10/€1.
The results for Q1 2024 are in line with this outlook.
The Board of Directors
April 24, 2024
Lectra | 5 | Financial Report at March 31, 2024 |
ADDITIONAL INFORMATION - FIRST QUARTER 2024
LECTRA 2024 SCOPE
(including Launchmetrics since January 23rd 2024)
BREAKDOWN OF REVENUES - ACTUAL
Three Months Ended March 31 | |||||||||||||
Revenues by type of business | 2024 | 2023 | Changes | ||||||||||
2024/2023 | |||||||||||||
Lectra | % | Launchmetrics | (1) | % | Lectra | % | Lectra | Actual | |||||
(in thousands of euros) | 2023 scope | 2024 scope | 2023 scope | ||||||||||
Revenues from perpetual software licenses, equipment and | 38,150 | 31% | 590 | 7% | 38,740 | 30% | 43,757 | -11% | |||||
accompanying software, and non-recurring services, of which: | |||||||||||||
- Perpetual software licenses | 3,963 | 3% | - | 3,963 | 3% | 4,085 | -3% | ||||||
- Equipment and accompanying software | 28,886 | 24% | - | 28,886 | 22% | 33,764 | -14% | ||||||
- Training and consulting services | 4,485 | 4% | 197 | 2% | 4,682 | 4% | 4,687 | 0% | |||||
- Miscellaneous | 816 | 1% | 393 | 5% | 1,209 | 1% | 1,221 | -1% | |||||
Recurring revenues, of which: | 83,143 | 69% | 7,681 | 93% | 90,823 | 70% | 79,896 | 14% | |||||
- Software subscriptions | 8,809 | 7% | 7,681 | 93% | 16,490 | 13% | 6,677 | 147% | |||||
- Software maintenance contracts | 13,416 | 11% | - | 13,416 | 10% | 13,415 | 0% | ||||||
- Equipment and accompanying software maintenance contracts | 25,182 | 21% | - | 25,181 | 19% | 23,889 | 5% | ||||||
- Consumables and parts | 35,736 | 29% | - | 35,736 | 28% | 35,915 | 0% | ||||||
Total | 121,292 | 100% | 8,271 | 100% | 129,563 | 100% | 123,653 | 5% | |||||
€ / $ average parity | 1.09 | 1.09 | 1.09 | 1.07 | |||||||||
(1) As of January 23rd 2024 | |||||||||||||
CONSOLIDATED INCOME STATEMENT - ACTUAL | |||||||||||||
Three months ended March 31 | |||||||||||||
Changes | |||||||||||||
2024 | 2023 | 2024/2023 | |||||||||||
Lectra | Launchmetrics(1) | Lectra | Actual | Like-for-like | |||||||||
(in thousands of euros) | 2023 scope | 2024 scope | |||||||||||
Revenues | 121,292 | 8,271 | 129,563 | 123,653 | +5% | ||||||||
Cost of goods sold | (36,991) | (378) | (37,368) | (38,891) | -4% | ||||||||
Gross profit | 84,302 | 7,893 | 92,195 | 84,762 | +9% | ||||||||
(in % of revenues) | 69.5% | 95.4% | 71.2% | 68.5% | +2.7 points | ||||||||
Research and development | (13,562) | (1,159) | (14,721) | (12,670) | +16% | ||||||||
Selling, general and administrative expenses | (58,327) | (7,935) | (66,262) | (59,962) | +11% | ||||||||
Income from operations before non-recurring items | 12,412 | (1,201) | 11,212 | 12,130 | -8% | ||||||||
(in % of revenues) | 10.2% | -14.5% | 8.7% | 9.8% | -1.1 points | ||||||||
Non-recurring expenses | (232) | - | (232) | - | na | ||||||||
Income from operations | 12,180 | (1,201) | 10,979 | 12,130 | -9% | ||||||||
(in % of revenues) | 10.0% | -14.5% | 8.5% | 9.8% | -1.3 points | ||||||||
Income before tax | 10,363 | (1,372) | 8,992 | 10,298 | -13% | ||||||||
Income tax | (2,777) | 491 | (2,286) | (2,961) | -23% | ||||||||
Net income | 7,586 | (881) | 6,706 | 7,337 | -9% | ||||||||
of which, Group share | 7,614 | (442) | 7,172 | 7,627 | -6% | ||||||||
of which, Non-controlling interests | (28) | (439) | (466) | (290) | 61% | ||||||||
Income from operations before non-recurring items | 12,412 | (1,201) | 11,212 | 12,130 | -8% | ||||||||
+ Net depreciation and amortization of non-current assets | 7,563 | 2,294 | 9,857 | 7,613 | +29% | ||||||||
EBITDA before non-recurring items | 19,975 | 1,093 | 21,069 | 19,744 | +7% | ||||||||
(in % of revenues) | 16.5% | 13.2% | 16.3% | 16.0% | +0.3 points | ||||||||
€ / $ average parity | 1.09 | 1.09 | 1.09 | 1.07 | |||||||||
(1) As of January 23rd 2024 | |||||||||||||
Lectra | 6 | Financial Report at March 31, 2024 |
ADDITIONAL INFORMATION - FIRST QUARTER 2024
LECTRA 2023 SCOPE
ORDERS FOR NEW SYSTEMS - LIKE-FOR-LIKE
Three Months Ended March 31 | |||||||
Perpetual software licenses, equipment and accompanying | 2024 | 2023 | Changes 2024/2023 | ||||
software and non-recurring services | |||||||
Actual | % | At 2023 | Actual | % | Actual | Like-for-like | |
(in thousands of euros) | exchange rates | exchange rates | |||||
Perpetual software licenses | 3,523 | 10% | 3,558 | 3,691 | 10% | -5% | -4% |
Equipment and accompanying software | 27,400 | 79% | 27,672 | 26,923 | 76% | +2% | +3% |
Training and consulting services | 3,677 | 10% | 3,712 | 3,821 | 11% | -4% | -3% |
Miscellaneous | 816 | 2% | 823 | 1,221 | 3% | -33% | -33% |
Total | 35,416 | 100% | 35,765 | 35,658 | 100% | -1% | 0% |
€ / $ average parity | 1.09 | 1.07 | 1.07 | ||||
Three Months Ended March 31 | |||||||
New software subscriptions | 2024 | 2023 | Changes 2024/2023 | ||||
Actual | % | At 2023 | Actual | % | Actual | Like-for-like | |
(in thousands of euros) | exchange rates | exchange rates | |||||
Annual value of new software subscriptions | 2,412 | na | 2,436 | 2,667 | na | -10% | -9% |
€ / $ average parity | 1.09 | 1.07 | 1.07 |
BREAKDOWN OF REVENUES - LIKE-FOR-LIKE(1)
Revenue distribution by geographical market is reported on an indicative basis. Trends for the fiscal year cannot be extrapolated based on one single quarter.
Three Months Ended March 31 | |||||||||
Revenues by region | |||||||||
2024 | 2023 | Changes 2024/2023 | |||||||
Actual | % | At 2023 | Actual | % | Actual Like-for-like | ||||
(in thousands of euros) | exchange rates | exchange rates | |||||||
Europe, of which: | 37,870 | 31% | 37,800 | 40,001 | 32% | -5% | -6% | ||
- France | 6,133 | 5% | 6,134 | 6,640 | 5% | -8% | -8% | ||
Americas | 42,772 | 35% | 43,292 | 45,552 | 37% | -6% | -5% | ||
Asia-Pacific | 29,421 | 24% | 30,279 | 29,170 | 24% | +1% | +4% | ||
Other countries | 11,229 | 9% | 11,298 | 8,930 | 7% | +26% | +27% | ||
Total | 121,292 | 100% | 122,669 | 123,653 | 100% | -2% | -1% | ||
€ / $ average parity | 1.09 | 1.07 | 1.07 | ||||||
Three Months Ended March 31 | |||||||||
Revenues by type of business | |||||||||
2024 | 2023 | Changes 2024/2023 | |||||||
Actual | % | At 2023 | Actual | % | Actual Like-for-like | ||||
(in thousands of euros) | exchange rates | exchange rates | |||||||
Revenues from perpetual software licenses, equipment and | 38,150 | 31% | 38,607 | 43,757 | 35% | -13% | -12% | ||
accompanying software, and non-recurring services, of which: | |||||||||
- Perpetual software licenses | 3,963 | 3% | 4,004 | 4,085 | 3% | -3% | -2% | ||
- Equipment and accompanying software | 28,886 | 23% | 29,231 | 33,764 | 27% | -14% | -13% | ||
- Training and consulting services | 4,485 | 4% | 4,549 | 4,687 | 4% | -4% | -3% | ||
- Miscellaneous | 816 | 1% | 823 | 1,221 | 1% | -33% | -33% | ||
Recurring revenues, of which: | 83,143 | 69% | 84,062 | 79,896 | 65% | +4% | +5% | ||
- Software subscriptions | 8,809 | 7% | 8,881 | 6,677 | 5% | +32% | +33% | ||
- Software maintenance contracts | 13,416 | 11% | 13,513 | 13,415 | 11% | 0% | +1% | ||
- Equipment and accompanying software maintenance contracts | 25,182 | 22% | 25,532 | 23,889 | 19% | +5% | +7% | ||
- Consumables and parts | 35,736 | 29% | 36,136 | 35,915 | 29% | 0% | +1% | ||
Total | 121,292 | 100% | 122,669 | 123,653 | 100% | -2% | -1% | ||
€ / $ average parity | 1.09 | 1.07 | 1.07 |
Lectra | 7 | Financial Report at March 31, 2024 |
ADDITIONAL INFORMATION - FIRST QUARTER 2024
LECTRA 2023 SCOPE
CONSOLIDATED INCOME STATEMENT - LIKE-FOR-LIKE
Three months ended March 31 | |||||
2024 | 2023 | Changes 2024/2023 | |||
Actual | At 2023 | Actual | Actual | Like-for-like | |
exchange rates | exchange rates | ||||
(in thousands of euros) | |||||
Revenues | 121,292 | 122,669 | 123,653 | -2% | -1% |
Cost of goods sold | (36,991) | (37,290) | (38,891) | -5% | -4% |
Gross profit | 84,302 | 85,379 | 84,762 | -1% | +1% |
(in % of revenues) | 69.5% | 69.6% | 68.5% | +1.0 point | +1.1 points |
Research and development | (13,562) | (13,622) | (12,670) | +7% | +8% |
Selling, general and administrative expenses | (58,327) | (58,749) | (59,962) | -3% | -2% |
Income from operations before non-recurring items | 12,412 | 13,008 | 12,130 | +2% | +7% |
(in % of revenues) | 10.2% | 10.6% | 9.8% | +0.4 points | +0.8 points |
Non-recurring expenses | (232) | (236) | - | na | na |
Income from operations | 12,180 | 12,772 | 12,130 | 0% | +5% |
(in % of revenues) | 10.0% | 10.4% | 9.8% | +0.2 points | +0.6 points |
Income before tax | 10,363 | 10,953 | 10,298 | +1% | +6% |
Income tax | (2,777) | na | (2,961) | -6% | na |
Net income | 7,586 | na | 7,337 | +3% | na |
of which, Group share | 7,614 | na | 7,627 | -0% | na |
of which, Non-controlling interests | (28) | na | (290) | -90% | na |
Income from operations before non-recurring items | 12,412 | 13,008 | 12,130 | +2% | +7% |
+ Net depreciation and amortization of non-current assets | 7,563 | 7,628 | 7,613 | -1% | 0% |
EBITDA before non-recurring items | 19,975 | 20,636 | 19,744 | +1% | +5% |
(in % of revenues) | 16.5% | 16.8% | 16.0% | +0.5 points | +0.8 points |
€ / $ average parity | 1.09 | 1.07 | 1.07 |
Lectra | 8 | Financial Report at March 31, 2024 |
Company certification of the first quarter 2024 report
We certify that, to our knowledge, the financial statements have been prepared in accordance with currently applicable accounting standards and provide a fair view of the assets, financial condition, and financial results of the Company and of its consolidated companies. We further certify that the first quarter report on operations presents a true and sincere view of the significant events that occurred during the first three months of the fiscal year and their impact on the financial statements, and a description of the main risks and uncertainties for the coming nine months.
Paris, April 24, 2024
Daniel Harari | Olivier du Chesnay |
Chairman and Chief Executive Officer | Chief Financial Officer |
Lectra | 9 | Financial Report at March 31, 2024 |
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
ASSETS | |||
(in thousands of euros) | March 31, 2024 (1) | December 31, 2023 | March 31, 2023 |
Goodwill | 358,369 | 297,306 | 299,725 |
Other intangible assets | 200,767 | 129,014 | 139,518 |
Leasing rights-of-use | 26,812 | 26,322 | 27,193 |
Property, plant and equipment | 25,377 | 25,800 | 27,095 |
Other non-current assets | 11,817 | 18,150 | 16,586 |
Deferred tax assets | 13,707 | 13,591 | 13,068 |
Total non-current assets | 636,849 | 510,183 | 523,184 |
Inventories | 71,295 | 70,686 | 75,086 |
Trade accounts receivable | 101,612 | 91,859 | 85,963 |
Other current assets | 37,804 | 21,441 | 27,236 |
Cash and cash equivalents | 100,481 | 115,049 | 126,759 |
Total current assets | 311,192 | 299,035 | 315,045 |
Total assets | 948,042 | 809,218 | 838,228 |
EQUITY AND LIABILITIES | |||
(in thousands of euros) | March 31, 2024 (1) | December 31, 2023 | March 31, 2023 |
Share capital | 37,868 | 37,833 | 37,794 |
Share premium | 141,253 | 140,777 | 140,209 |
Treasury shares | (887) | (885) | (945) |
Currency translation adjustments | 23,890 | 16,977 | 23,074 |
Retained earnings and net income | 113,611 | 215,124 | 210,922 |
Non-controlling interests | 25,866 | 8,033 | 6,821 |
Total equity | |||
341,600 | 417,859 | 417,875 | |
Retirement benefit obligations | 11,397 | 10,593 | 9,633 |
Non-current lease liabilities | 21,724 | 22,074 | 23,878 |
Minority shares purchase commitments | 159,407 | 49,536 | 49,341 |
Deferred tax liabilities | 20,950 | 2,733 | 2,796 |
Borrowings, non-current portion | 103,186 | 76,684 | 97,554 |
Total non-current liabilities | |||
316,662 | 161,620 | 183,202 | |
Trade and other current payables (2) | 137,245 | 88,493 | 96,941 |
Deferred revenues | 109,279 | 94,103 | 90,635 |
Current income tax liabilities | 6,456 | 5,504 | 5,671 |
Current lease liabilities | 9,826 | 9,144 | 9,183 |
Minority shares purchase commitments | 1,702 | 1,702 | - |
Borrowings, current portion | 16,081 | 21,405 | 21,409 |
Provisions for other liabilities and charges | 9,190 | 9,386 | 13,312 |
Total current liabilities | |||
289,779 | 229,738 | 237,151 | |
Total equity and liabilities | 948,042 | 809,217 | 838,228 |
- The 2024 amounts integrate Launchmetrics since January 23, 2024 (see note 3 hereafter)
- In 2024, this amount integrates an estimated residual balance of 36.4 million euros related to the acquisition of Launchmetrics (see note 3 hereafter).
Lectra | 10 | Financial Report at March 31, 2024 |
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Lectra SA published this content on 24 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 April 2024 16:01:47 UTC.
