SAINT-HERBLAIN, FRANCE – LaCroix Electronics reported fiscal fourth quarter revenue of €75.1 million (US$88.8 million), down 0.8% year-over-year.

For the quarter ended Sept. 30, LaCroix Group reported total revenue up 1.8% year-over-year to €119.4 million.

For the full year fiscal 2020, revenue for the electronics segment was €276 million, a decrease of 13.1%.

Total company revenue was €438.3 million, down 9% year-over-year.

“LaCroix Group’s performance in the fourth quarter is very satisfactory and confirms our good strategic orientations,” said CEO Vincent Bedouin. “Despite an unprecedented health crisis, we have demonstrated our capacity to quickly return to growth, thanks to our unique global positioning in key technological equipment, serving societal needs, more essential today than ever. The recent degradation of the health situation naturally requires us to exercise caution for the coming months. We remain nonetheless fully confident in our ability to turn this new corner and regain a long-term performance trajectory once the situation has normalized again.”

Over the quarter, amid the gradual lifting of the health restrictions that took place during the summer, all of the group’s activities show a marked recovery compared to the preceding quarters, confirming the gradual improvement observed since May.

While business among aeronautics clients remains soft, the fourth quarter benefitted from a strong upturn in the automotive and home and building sectors. LaCroix Electronics also benefitted from a favorable base effect related to the fire on the Tunisian site, which impacted the fourth quarter of 2018/2019 and from the integration of the group’s latest acquisition, the startup eSoftThings, specializing in industrial IoT and artificial intelligence.

Due to the continuing uncertainties related to recent developments in the health situation and the latest government announcements, the firm is approaching the coming months with caution, without however envisaging an impact as strong as that seen during the months of March and April.

Beyond the next few months, LaCroix Group still retains an ideal positioning to profit from opportunities in its structurally growing markets. Its three activities, at the heart of new technological needs in the electronics industry and smart infrastructure projects in roads, energy and the environment, as well as orders recently taken, will be powerful supports for recovery.

Ed.: €1 = US$1.18