LACROIX Group (LACR) Q2 2024 TU earnings summary

Executive summary

• Q2 2024 consolidated revenue declined 4.4% like-for-like to €169.2 million, reflecting strong Environment activity and weaker Electronics performance amid an unfavorable base effect.

• H1 2024 consolidated revenue was €350.3 million, down 7.0% year-over-year; like-for-like decline was 4.9% after adjusting for the Road Signs segment sale.

• Group is refocusing on Electronics and Environment activities, following the sale of Road Signs and planned divestment of Mobility.

Financial highlights

• Q2 2024 Electronics revenue fell 9.1% year-over-year to €129.5 million, impacted by a high comparison base.

• Q2 2024 Environment revenue rose 18.9% to €34.0 million, driven by strong Water and Energy/HVAC segments.

• H1 2024 Electronics revenue totaled €268.1 million, down 9.1% year-over-year; Environment revenue reached €64.4 million, up 17.9%.

• Road Signs segment contributed €5.8 million in Q2 2024 (one month) before its sale.

Outlook and guidance

• Second half of 2024 expected to show more favorable trends, with Environment maintaining momentum and Electronics benefiting from a lower base effect.

• Visibility remains low in Automotive and HBAS sectors; North America Electronics restructuring effects expected from early 2025.

• New financial objectives for 2024 to be communicated with H1 results.