Clasquin: Q3 2019: Sharp Increase in Business Growth (Up 8.7% LFL) and Gross Profit (Up 17.7% LFL)

 

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

Clasquin (Paris:ALCLA):

9 months

 

Q3

 

Sept. 2019
9 months

Sept. 2018
9 months

Change at
current
scope &
exch. rates

Change at
constant
scope** &
exch. rates
(LFL)

 

Q3 2019 /
Q3 2018 at
current scope
& exch. rates

Q3 2019 /
Q3 2018 at
constant
scope** & exch.
rates (LFL)

CONSOLIDATED (unaudited)

 

 

 

 

 

 

 

Number of shipments

202,249

197,409

+2.5%

+5.1%

 

+5.3%

+8.7%

Sales (€m)*

240.4

227.1

+5.9%

+8.8%

 

+10.9%

+15.0%

Gross profit (€m)

55.6

51.3

+8.4%

+10.6%

 

+14.0%

+17.7%

* 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. Changes in number of shipments, volumes shipped and—in terms of the Group’s finances—gross profit are relevant indicators.
** Constant consolidation scope: excluding late October 2018 sale of ECS US and early July 2018 Favat acquisition

With the exception of the Greater China region (up 2.5% over 9 months), since the start of the year the Group has recorded strong growth in gross profit in most of its operating regions.

It is also worth noting the sharp growth:

  • in business in the USA (GP up 49% over 9 months) (related to the arrival of a management team and new clients) and
  • The RO/RO* business to and from North Africa (GP up 21% over 9 months) (also related to the arrival of new teams) which has boosted the Group’s growth and in particular the development of its sea freight business.

The decline in air freight business tonnage has been contained.

* Roll-on/roll-off: Combined road + sea transport (trailers or trucks loaded on ships)

BREAKDOWN BY BUSINESS LINE

 

NUMBER OF SHIPMENTS
at current scope and exchange rates

GROSS PROFIT (€m)
at current scope and exchange rates

 

30.09.2019

30.09.2018

30.09.2019/
30.09.2018

Q3 2019/
Q3 2018

30.09.2019

30.09.2018

30.09.2019/
30.09.2018

Q3 2019/

Q3 2018

Sea freight

86,936

90,432

-3.9%

-2.3%

24.7

22.9

+7.9%

+14.7%

Air freight

62,254

60,347

+3.2%

+3.4%

18.2

17.7

+3.0%

+10.4%

RORO*

34,656

29,682

+16.8%

+31.0%

6.3

5.2

+20.3%

+22.5%

Other

18,403

16,948

+8.6%

+15.8%

4.7

4.1

+14.9%

+9.6%

TOTAL FORWARDING & LOGISTICS

202,249

197,409

+2.5%

+5.3%

54.0

50.0

+8.0%

+13.4%

Log System

 

 

 

 

2.3

2.0

+12.6%

+36.3%

Consolidation entries

 

 

 

 

-0.7

-0.7

NS

NS

TOTAL CONSOLIDATED

 

 

 

 

55.3

51.3

+8.4%

+14.0%

* Roll-on/roll-off

 

VOLUMES

 

30.09.2019

30.09.2018

30.09.2019/
30.09.2018

Q3 2019/

Q3 2018

Sea freight

161,897 TEUs*

148,290 TEUs*

+9.2%

+22.0%

Air freight

45,921 T**

53,461 T**

-14.1%

-6.5%

* Twenty-foot equivalent units
** Tons

Q3 2019 HIGHLIGHTS

Acquisition of 80% of the share capital of Canadian freight forwarding specialist Cargolution Inc. on 1 October 2019.
The company’s offices are located in Montreal and Toronto.

  • Revenues: CAD 50m (30/06/19 – 12 months)
  • GP: CAD 10m (30/06/19 – 12 months)

The company employs 91 people.
The managing shareholders will retain a 20% stake and will continue to manage the company.
It will be included in the Group’s consolidated financial statements from 1 October 2019.

Launch of the CLASQUIN SA share joint investment plan for executives and managers, combined with a five-year Bonus Share Plan (BSP), for which the award terms (performance and continued employment criteria) were approved by the Board of Directors on 16 October 2019.
33 managers including 10 foreign nationals joined the plan.
The maximum number of bonus shares vested after five years represents 1.7% of the share capital.

Continuation of bank negotiations to set up a syndicated credit facility designed to:

  • Secure the required financing for future acquisitions
  • Secure a portion of the financing for organic growth
  • Restructure current debt maturities

Finalisation scheduled by 2019 year-end.

2019 OUTLOOK

Market
Expected global volume growth:

  • Sea: 1 to 2%
  • Air: -5 to -6%

CLASQUIN
Overall growth significantly higher than market growth

UPCOMING EVENTS (publication after market closure)

  • Thursday 20 February 2020: Q4 2019 business report
  • Wednesday 18 March 2020: 2019 annual results
  • Thursday 30 April 2020: Q1 2020 business report
  • Thursday 27 August 2020: Q2 2020 business report
  • Wednesday 23 September 2020: H1 2020 results
  • Thursday 29 October 2020: Q3 2020 business report

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 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 €1,500m or balance sheet total of less than €2,000m).
Clasquin is listed on the Enternext© PEA-PME 150 index.
LEI: 9695004FF6FA43KC4764

Contacts

CLASQUIN CONTACTS
Philippe Lons – Deputy Managing Director/Group CFO
Domitille Chatelain – Group Head of Communication

CLASQUIN Group – 235 cours Lafayette – 69006 Lyon
Tel.: +33 (0)4 72 83 17 00 – Fax: +33 (0)4 72 83 17 33

Contacts

CLASQUIN CONTACTS
Philippe Lons – Deputy Managing Director/Group CFO
Domitille Chatelain – Group Head of Communication

CLASQUIN Group – 235 cours Lafayette – 69006 Lyon
Tel.: +33 (0)4 72 83 17 00 – Fax: +33 (0)4 72 83 17 33