SAINT-HERBLAINE, FRANCE – Lacroix Group reported Electronics segment first quarter revenue of €122.1 million, up 41% year-over-year.

Growth was mainly due to the integration of Firstronic on Jan. 1. Excluding scope effects, Lacroix Electronics' revenue was down 3.2%, penalized by component supply difficulties, compared to the conditions that prevailed over the same period in 2021, impacting the automotive segment, among other things.

The company’s total revenue for the quarter was €165.1 million, an increase of 29.4% compared to the first quarter of 2021.

“In the first quarter of 2022, Lacroix continues to benefit from strong sales momentum across all of its activities and geographic markets,” said Vincent Bedouin, CEO, Lacroix. “This dynamic, driven by long-term trends, is only weighted by the uncertainties related to the current context and the persistent tensions on component supplies. Lacroix thus posted a performance over the period that was entirely in line with its forecasts and continues its development driven by the integration of Firstronic.”

Lacroix maintains its annual targets, with expected revenue growth of more than 30%.