LACROIX Group (LACR) Trading Update summary

Revenue performance

• 2024 consolidated revenue reached €635.6m, down 8.6% like-for-like and 13.4% overall from 2023, aligning with the target of around €640m.

• Q4 2024 revenue dropped 15.4% like-for-like to €141.4m, reflecting automotive sector weakness and North American challenges.

• Electronics segment revenue fell 12.1% in 2024 to €494.3m, with Q4 down 18.1% due to automotive market contraction and North America restructuring.

• Environment segment grew 8.8% in 2024 to €123.4m, marking its third consecutive year of growth.

• Road signs and City-Mobility segments were divested in 2024 and early 2025, respectively, as part of strategic refocusing.

Segment and regional trends

• Electronics EMEA sales declined 11% in 2024, mainly from automotive and HVAC market downturns, but aerospace showed strong growth.

• North America electronics sales dropped 14.7% in 2024, impacted by automotive market deterioration and customer-specific issues.

• Environment segment's Q4 revenue dipped 4% due to a strong prior-year base and project completions, but full-year growth remains robust.

• All Environment sub-segments contributed to 2024 growth, with positive outlook for 2025.

Strategic and financial outlook

• EBITDA margin for 2024 expected at the lower end of the 4.0%-4.5% range due to sector headwinds.

• 2025 outlook for Environment remains positive, driven by trends in water, heating networks, smart grids, and lighting.

• Electronics faces continued uncertainty in 2025, especially in North America, due to market, regulatory, and internal factors.

• Presentation of the 2027 roadmap postponed to mid-2025 for better business visibility.

• Strategic refocus on Electronics and Environment aims to leverage high-growth, synergistic, and sustainable activities.