SAINT-HERBLAIN, FRANCE -- Lacroix reported second quarter revenue of €173.2 million, up 36.2% from 2021, driven by the integration of Firstronic and higher selling costs for components.

Growth accelerated compared with the first quarter, when revenue rose +29.4%.

In constant terms, revenue growth was 8.1%, on good market momentum and the pass-through increases in procurement costs for certain components.

First half revenue was up 32.8% to €338.4 million, or 3.7% in constant terms.

Electronics sales rose 55.3% in the June quarter, or 11.3% in constant terms, to €126 million. In addition to additional procurement costs for certain components being passed on, it also benefited from the performance of the home and building and industrial sectors, as well as a stabilization in the aeronautics sector. First half revenue rose 47.9% to €248.2 million, or 3.8% in constant terms.

City Activity sales were down 3.1% to €28 million due to softness in the signalization and traffic segments, partially offset a 17% gain street lighting. The Environment group rose 11.8% to €19.2 million.

Lacroix reiterated its confidence in meeting its objective of an increase of more than 30% in sales combined with a current EBITDA margin of at least 6.2%.

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