SAINT-HERBLAIN, FRANCE -- Lacroix reported third quarter revenue of €178.1 million ($179.6 million), up 61.3% from a year ago on organic growth and acquisitions.

Electronics sales made up €135.4 of the total in the period, versus €70.5 million a year ago, a jump of 92.1%.

Electronics activity was driven by the integration of Firstronic and growth of 29.2% at constant scope. The latter notably benefited from the performance of the Automotive, Home & Building and Industry sectors, as well as the continuing impact of the transfer of additional costs related to components (€8.2 million in Q3 2022, vs. €5.2 million in Q3 2021).

The electronics unit recorded revenue of €383.5 million year to date, compared with €238.3 million in the previous year, up 61% on a consolidated basis and 11.3% in constant terms.

Overall organic growth was 21.2% under constant conditions, while the integration of Firstronic accounted for €44.3 million. The third quarter 2021 was also marked by a significant deterioration in procurement conditions as well as the continued impact of the transfer of additional costs related to components in the third quarter 2022.

Year to date revenue amounted to €516.4 million, reflecting the acceleration of the group's growth, with an increase in activity of 41.4% or 9% at constant scope (vs. 32.8% and 3.7%, respectively, at the end of June).

“In a context still largely disrupted by the availability of components and the direct and indirect impacts of the geopolitical situation, Lacroix's strategic positioning and excellent commercial orientation in fast-growing market segments in France and abroad are reflected in these figures," said Vincent Bedouin, chairman and CEO, Lacroix. "The acceleration of our growth in the 3rd quarter is extremely strong evidence of this, leading us to revise our annual revenue target upward.”

Lacroix raised its revenue forecast to be close to €700 million for full-year 2022, from its previous target of €665 million, including €15 million relating to the impact of the dollar, in the upper range.

Taking into account the noncontributory nature of reinvoicing of components, and additional costs that will be difficult to pass on between now and the end of the financial year, Lacroix reffirmed its EBITDA margin of at least 6.2% over the entire financial year.

1 EUR = 1.00872 USD

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