Lumibird reports 1% revenue increase in H1 2024, maintaining 3-year growth target

From GlobeNewswire: 2024-07-22 11:50:00

Lumibird Group reported a 1% increase in H1 2024 revenues to €98m, impacted by occasional delays in Asian orders. Despite this, the group maintains its 3-year revenue growth target with a CAGR of +8%. The Photonics division grew by 3%, while the Medical division recorded revenues of €50.8m, slightly down on the previous year.

At the end of June 2024, Lumibird’s consolidated revenues reached €98.0 million, up 1% reported basis and 2% at constant exchange rates. Different divisions showed varying performance, with the Defense/Space segment up by +23.2% and the Industrial and Scientific segment down by 9%. The Medical Division, focusing on ophthalmology, reported revenues of €50.8 million, slightly down on the previous year.

In the first half of 2024, Lumibird’s Photonics division saw strong growth in Europe, particularly in Defense/Space and MedTech markets. In contrast, the Americas and Asia Pacific experienced declines, attributed to the Environment, Topography, and Safety market applications. The Medical division witnessed growth in Europe and the Americas, driven by laser treatment products.

Looking ahead, Lumibird aims for an average annual growth rate in sales greater than 8% until 2026, with an EBITDA margin at least 500 basis points higher than 2023. The group expects profitability to improve in 2024 despite the impact of H1 2024 revenue on profitability. Lumibird’s solid order book, particularly in the defense sector, is expected to be further strengthened by new multi-year contracts.



Read more at GlobeNewswire:: Lumibird: H1 2024 revenues