Clasquin: Booming Growth Continues in Q1 2018

LYON, France--()--Regulatory News:

Clasquin (Paris:ALCLA):

    Q1 2018   Q1 2017  

Change at
current
exchange
rate

 

Change at
constant
exchange
rate

CONSOLIDATED (unaudited)                
Number of shipments   63,932   55,720   +14.7%   +14.7%
Sales (€M) *   72.7   65.6   +10.8%   +15.9%
Gross profit (€M)   16.7   14.5   +15.1%   +19.8%

*Note: Sales is not a relevant indicator for assessing activity in our business, because it is greatly impacted by changing sea and air freight rates, fuel surcharges, exchange rates (especially versus the $), etc. Variations in the number of shipments, the volumes shipped and— in terms of the Group's finances—gross profit are relevant indicators

BUSINESS VOLUME AND MARKET

The market continued to be favourable in Q1 2018, with 5% growth in global air freight volumes and 3% growth in global sea freight volumes over the period. Under these conditions, the Group once again largely outperformed market growth (by 2-3 times) in terms of volumes.

As in 2017, two thirds of this growth resulted from the acquisition of new clients.

At constant exchange rates, consolidated gross profit was up nearly 20% in Q1 2018, an organic growth rate not achieved since 2008 (except for the catch-up in 2010).

Air freight unit margins rose by nearly 15% due to favourable market conditions and a few non-recurring operations.

On the other hand, sea freight unit margins fell nearly 7%, mainly due to the exceptional performance last year.

DETAILS ON ACTIVITY BY BUSINESS LINE

 

  VOLUMES   NUMBER OF SHIPMENTS   GROSS PROFIT (€M)
At current exchange rate   Q1 2018   Q1 2017  

Q1 2018/

Q1 2017

  Q1 2018   Q1 2017  

Q1 2018/

Q1 2017

  Q1 2018   Q1 2017  

Q1 2018/

Q1 2017

Sea freight 47,003 EVP*(1)   39,779 EVP*(1)   +18.2%   28,654   25,048   +14.4%   7.4   7.0   +6.6%
Air freight 14,427 T** 13,223 T** +9.1% 18,930 17,480 +8.3% 5.7 4.6 +24.2%
RO/RO*** 10,766 9,777 +10.1% 1.9 1.7 +10.6%
Others (2) 5,582   3,415   +63.5%   1.3   1.0   +25.3%
TOTAL OVERSEAS ACTIVITY 63,932   55,720   +14.7%   16.2   14.2   14.0%
LOG System   0.7 0.7 -4.0%
Consolidation entries -0.3   -0.5   NS
TOTAL CONSOLIDATED                 16.7   14.5   +15.1%

(1): included groupage containers
(2): includes in Q1 2018 the 2 new « Fairs & Events » and « Road Brokerage » activities for 560 and 805 shipments respectively
*: Twenty Feet Equivalent Units
**: Tons
***: Roll On / Roll Off

Q1 2018 HIGHLIGHTS

  • Opening of a new subsidiary, Clasquin Fairs & Events, in January 2018 in France with a partner specialist of the sector and a staff of four. Company specializing in international transport and logistics in relation to trade fairs and exhibitions.
    This opening is in keeping with the Group’s strategy of developing its business in niche markets such as the fine arts market covered by Art Shipping, a company acquired in 2016.
    Positive earnings expected from 2018.
  • Acquisition of COSMOS consultants, an international trade and customs management software publisher, in January 2018 by Group IT subsidiary LOG System. Sales > €300,000 to around thirty key accounts.
  • Creation of a subsidiary in Tunisia by LOG System to serve as a development platform specializing in Microsoft solutions and provide Business Process Outsourcing (BPO) solutions.
  • Continued deployment of the Cargowise One TMS with roll-out at Clasquin France.
  • Preparation of next generation of finance software (accounting, reporting, planning, consolidation) for deployment in 2019.
  • Continued revamping at the subsidiaries undergoing restructuring (primarily Clasquin Germany and ECS US).

2018 OUTLOOK

Market

Estimated volume growth:

  • Sea > 5%
    (source IHS Global Insight. August 2017)
  • Air > 4%
    (source IATA. December 2017)

Clasquin

Growth significantly higher than market growth.

UPCOMING EVENTS (publication after-market closure)

  • Thursday 7 June 2018: Combined Annual General Meeting
  • Thursday 30 August 2018: Business report as at 30 June 2018
  • Wednesday 19 September 2018: 2018 Half year results

Clasquin is an air and sea freight forwarding and overseas logistics specialist.
The Group designs and manages the entire overseas transport and logistics chain, organising and coordinating the flow of client shipments between France and the rest of the world, and more specifically to and from Asia-Pacific and the United States.
Its shares are listed on EURONEXT GROWTH, ISIN FR0004152882, Reuters ALCLA.PA, Bloomberg ALCLA FP. For more information, see www.clasquinfinance.com.
CLASQUIN confirms its eligibility for the new share savings plan for MSCs (medium-sized companies) in accordance with Article D221-113-5 of the French Monetary and Financial Code established by decree number 2014-283 of 4 March 2014 and with Article L221-32-2 of the French Monetary and Financial Code which set the conditions for eligibility (less than 5,000 employees and annual sales of less than 1,500 million euros or total balance sheet of less than 2,000 million euros). Clasquin is part of Enternext©PEA-PME 150 index.

Contacts

CLASQUIN
Tel : +33(0)4 72 83 17 00 – Fax : 04 72 83 17 33
or
Philippe LONS
Deputy Managing Director/Group CFO
or
Domitille CHATELAIN
Group Head of Communication

Contacts

CLASQUIN
Tel : +33(0)4 72 83 17 00 – Fax : 04 72 83 17 33
or
Philippe LONS
Deputy Managing Director/Group CFO
or
Domitille CHATELAIN
Group Head of Communication