In This Article:
Aix-en-Provence, 24 April 2024 (6 p.m.)
HIGHCO: STABLE ACTIVITY IN Q1 2024 (GROSS PROFIT UP 0.5% LFL) WITH A STRONG PERFORMANCE IN THE ACTIVATION BUSINESS; 2024 GUIDANCE CONFIRMED
Better-than-expected Q1 2024 with 12.8% growth in the Activation division
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Q1 20241 gross profit of €18.85 m, up slightly by 0.5% LFL2.
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Growth in businesses in France (up 1.3% LFL) and decline in international business (down 5.2% LFL).
Casino: ongoing talks
2024 guidance confirmed
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Drop in gross profit of about 10%.
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Operating margin of more than 15%.
2023 Annual Financial Report and Annual General Meeting on 21 May 2024
| Gross Profit (€ m)1 | 2024 | 2023 LFL2 | 2024/2023 |
| Q1 | 18.85 | 18.77 | +0.5% |
1 Unaudited data.
2 Like for like: Based on a comparable scope and at constant exchange rates (i.e. applying the average exchange rate over the period to data from the compared period).
Didier Chabassieu, Chairman of the Management Board, stated, “HighCo’s performance in the first quarter of 2024 was better than expected, with a strong start to the year for the Activation businesses. As announced, the gradual sale of Casino stores has resulted in decreased activity for the Consulting & Advertising businesses. This decline will be more pronounced in the second quarter.”
BETTER-THAN-EXPECTED Q1 2024 WITH 12.8% GROWTH IN THE ACTIVATION DIVISION
HighCo posted gross profit of €18.85 m in Q1 2024 (up 0.5% LFL).
This business performance is due to:
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Sharp growth in the Activation division (up 12.8% LFL). This better-than-expected outcome is due to the significant increase in the number of coupons processed in France and the strength of promotion management businesses;
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Decline in the Mobile division (down 13.2% LFL), resulting from stable SMS push notification activity and a slowdown in Mobile consulting businesses;
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Expected decline in the Retail Consulting & Advertising division (down 12.7% LFL) due to Casino.
Business growth in France
| FRANCE | Gross Profit (€ m) | 2024/2023 LFL change | % Total gross profit | |
| 2024 | 2023 LFL | |||
| Q1 | 16.52 | 16.30 | +1.3% | 87.6% |
In France, Q1 2024 gross profit increased by 1.3% to €16.52 m, accounting for 87.6% of the Group’s gross profit over the quarter. This growth is the result of strong processing activities for coupons and other promotional offers but was counter-balanced by the decline in the Mobile consulting and Retail Consulting & Advertising divisions.
Decline in International businesses
| INTERNATIONAL | Gross Profit (€ m) | 2024/2023 LFL change | % Total gross profit | |
| 2024 | 2023 LFL | |||
| Q1 | 2.33 | 2.46 | -5.2% | 12.4% |
In International business, Q1 2024 gross profit fell (down 5.2% LFL) to €2.33 m, accounting for 12.4% of the Group’s gross profit.
In Belgium, gross profit fell by 5.7% due to the decline in coupon processing. This was partially offset by the positive trend in traditional promotions management.
Businesses in Spain remained relatively stable (down 0.9%) and accounted for 1.3% of the Group’s gross profit.