Home / Knowledge / News / Information Technology / Lectra Q1 sales up by just 2%
Lectra Q1 sales up by just 2%
30
Apr '13
Lectra’s Board of Directors, chaired by André Harari, reviewed the unaudited consolidated financial statements for the first quarter of 2013.

Highlights:
-Revenues: €48.3 million (+2%)
- Income from operations before non-recurring items: €3.1 million (stable)
- Net income: €12.2 million
- Free cash flow: €13.2 million
- Net cash: €27.6 million

Orders for New Software Licenses and CAD/CAM Equipment Weaker than Expected, amid Persistently Sluggish Business Conditions

In its February 12, 2013, financial report, the company indicated that economic conditions looked set to remain as weak in 2013 as in 2012, and that the year seemed likely to be both difficult and unpredictable. The reality of the first quarter has confirmed this analysis. Orders for new software licenses and CAD/CAM equipment amounted to €16.2 million, down €2.6 million (?14%) compared with Q1 2012.

Revenues up Slightly thanks to Recurring Revenues Growth, Illustrating the Strength of the Company’s Business Model

Revenues (€48.3 million) were up 2% relative to Q1 2012, and 1% at actual exchange rates. Revenues from new systems sales (€19.5 million) were down €0.9 million (?4%). This decrease is mainly the result of the weak order backlog for new systems at January 1, 2013, and weak sales activity in the first quarter. Recurring revenues (€28.8 million), on the other hand, rose €2.1 million (+8%), resulting from the combination of a 5% increase in revenues from recurring contracts and a 12% increase in revenues from spare parts and consumables.

Income from operations before non-recurring items amounted to €3.1 million. It remained stable likefor- like (€3.3 million) compared with Q1 2012. End of Litigation against Induyco: Payment of €11.1 million Received Lectra received on March 7, 2013, payment of the outstanding €11.1 million which was due by Induyco further to the decision rendered on January 28, 2013, by the Madrid Court of Appeal.

The €11.1 million received results in a non-recurring income of the same amount recorded in the Q1 2013 consolidated financial statements and a net income of €10 million, after a net tax charge of €1.1 million, with no cash disbursement.

Net Income and Free Cash Flow Strongly Positive

Given the non-recurring item of €11.1 million, income from operations was €14.2 million and the operating margin before non-recurring items was 6.4%, down 0.3 percentage points like-for-like. Net income was €12.2 million. Net income before non-recurring items amounted to €2.2 million (?€0.2 million at actual exchange rates compared with Q1 2012).

Free cash flow amounted to €13.2 million. Free cash flow before non-recurring items amounted to €2.1 million (€5.2 million in Q1 2012).

Balance Sheet Particularly Solid

Cash and cash equivalents at March 31, 2013, totaled €28.5 million and financial borrowings were down to €1 million corresponding to public, interest-free advances intended to help finance research and development programs.

As a result, the net cash position was positive at €27.6 million (€14.2 million at December 31, 2012) and consolidated shareholders’ equity amounted to €77.5 million (€65 million at December 31, 2012).

Lectra


Must ReadView All

Digital textile printing sector to grow by 20% by 2020

Textiles | On 18th Jun 2018

Digital textile printing sector to grow by 20% by 2020

The digital textile printing sector is expected to have a compound...

Courtesy: Hela Clothing

Apparel/Garments | On 18th Jun 2018

Hela's latest label revolves around underwear, sleepwear

The latest collection of Sri Lanka’s Hela Clothing is revolves mostly ...

Kenya levies higher duties on mitumba import

Apparel/Garments | On 18th Jun 2018

Kenya levies higher duties on mitumba import

Kenya’s treasury secretary Henry Rotich recently raised the duty on...

Interviews View All

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Top executives
Textile & apparel bodies

The decision to reduce GST on MMF yarn to 12% is transformational

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Urmil Arya

Sushila International, a well established textile organisation established ...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search