(Boursier.com) — Lexibook jumped 13.4% to 2.79 euros in heavy volume this morning. The group has just published sharply increased results for the first half of 2023-2024, ending at the end of September. As of September 30, 2023, the group’s turnover stands at €22.19 million compared to €20.38 million as of September 30, 2022, an increase of 9%. Operating profit increased by 47% and reached €3.54 million. This progression is mainly due to the increase in the volume of activity and the increase in margin, and “testifies to the group’s ability to generate high margins thanks to its niche strategy”. The net result as of September 30, 2023 is €3.095 million compared to €1.247 million as of September 30, 2022.
As every year, net debt as of September 30 appears to have increased significantly compared to March 31 and stands at 13.7 ME. The increase is directly correlated to the increase in the stock level of 4.8 ME necessary to secure end-of-year deliveries and to the increase in the Customers item due to the increase in the seasonality of the activity.
Revenue for Q3 2022-23 increased by 7% to €23.4 million. Q3 2023-24 is expected to grow again and portends a new record turnover for the Lexibook Group as of December 31, 2023. Q4 activity, the quarter traditionally the least contributor to turnover, is expected to decline given an exceptional track record in 2023 and stock shortages linked to the strategy of reducing consolidated stocks. Overall, activity for the 2023-24 fiscal year is expected to show slight growth. The group has renewed a massive new digital advertising campaign in Europe to promote its many new products. This has “an accelerating effect on the already very satisfactory consumption of Lexibook products both in traditional brands and among internet customers”. The Group also replicated this campaign on the American market to a lesser extent this year given the late arrival of the products on this market. This campaign helped promote the brand in this new territory and suggests “substantial local growth potential for the coming years”.
Lexibook ensured its end-of-year deliveries “in good conditions”. This optimized logistics coupled with solid sales “will enable the group to achieve its objectives”. Overall, the 2023-24 financial year “will therefore once again be a good year for the Lexibook Group”.
The 2024 collection is rich in new items. The first presentations made to international clients “suggest a once again sustained level of activity for the 2024-25 financial year”, concludes the group.
©2024 Boursier.com