(Boursier.com) — The company Grolleau published its 9-month revenue for the 2022-2023 financial year (April 1-December 31). As expected, business momentum was less strong in the 3rd quarter (-9.5%), faced with an unfavorable basis for comparison (in particular for the Terminals business), but in line with the objective of a revenue growth of around +10% over the year.
At the end of the 9 months of the 2022-23 financial year, the Grolleau company recorded a turnover of 26.7 ME, against 23.7 ME in the same period last year, i.e. a growth of +12.6 %, driven in particular by the very strong momentum of the Industry business.
With an order book of €5.1 million as of December 31, 2022 and calls for tenders in progress internationally, Grolleau confirms its objective of annual revenue growth of around 10%, recalling that the 4th quarter is traditionally the lowest of the year. Given the product mix and an inflationary context which is still weighing on costs (salaries, purchases of raw materials, energy), Grolleau now anticipates an EBITDA margin of around 3%.
The company continues to be commercially active to build up its order book for the coming semesters, and is working on the development of short- and medium-term growth drivers in its Telecoms and Smart City business segments.
Regarding the Telecoms division, Grolleau is currently deploying new offers to compensate for the scheduled end of the deployment of fiber in France: (i) an offer of retrofit kits used for patching optical cords in fiber cabinets to facilitate the work of operators (first framework contract signed with one of the leading telecom operators); (ii) a carbon footprint reduction offer with the installation of solar panels on shelters (first order with Axione in France) and, (iii) continues in parallel the deployment of its data center offer, presenting a higher profitability high but longer commercial cycles (around ten international calls for tenders in progress). As such, the company will be able to rely on its first installation of complex technical equipment in Liberia (delivery in March 2023).
In the Smart City activity, Grolleau still notes very good dynamism in the cities on the deployment of urban cabinets but still weak activity on the Charging Stations pending the gradual ramp-up over the next financial year (2023-24 ) of the contract signed with IES Synergy, a major growth driver for this activity. Grolleau is currently starting the production of the first series of bollards. At the same time, Grolleau will deliver a new order for accelerated terminals for TotalEnergies in London (200 terminals to be produced which will be spread over the 4th quarter and especially the next financial year 2023-24).
At the same time, Grolleau has just signed its first contract for its “OneCity” offer for the management of technical equipment for a city of approximately 100,000 inhabitants, which includes the installation of sensors used to control data (management of garbage cans, information on the pollution, traffic counting) with a monthly subscription contract generating recurring revenue. This first order, for an amount that is still insignificant, will serve as a reference for duplicating this offer to other towns in France.
Finally, Grolleau is still anticipating good momentum in the Industry business, particularly with the Chantiers de l’Atlantique (ongoing construction of 1,600 doors for the Utopia ship) and in energy management, and has good visibility in this domain.
Next meeting: Revenue for the 4th quarter 2022-23, Thursday April 27, 2023 (after market).