Quadient – Strong revenue performance in the first quarter of 2021
with organic growth of 11.1%
Quadient – Strong revenue
performance in the first quarter of
2021 with organic growth of 11.1%
Strong organic
growth driven by all
solutions
-
Total sales of
€246 million
in
Q1 2021,
up 11.1%1
organically vs. Q1 2020 (up 3.0% on a
reported basis)
-
Good dynamics across all
solutions:
-
Intelligent Communication Automation up 5.8%
organically, supported by a 21.4% growth in subscription-related
revenue, continuing strong performance of YayPay and a promising
start of newly-acquired Beanworks
-
Marked rebound in Mail-Related
Solutions (+6.3% organic growth) fueled by a 30%+
growth in hardware sales
-
Sustained high growth in Parcel Locker Solutions
(+67.9% organically)
-
Strong organic growth in North America (+13.7%),
coupled with a much improved performance in Europe
(+7.2%)
Dynamic
business and
operational execution
-
Customer acquisitions (ICA: 600+
customers in Q1 2021 ; PLS: new universities onboarded and Relais
Colis in France ; MRS: top tier financial institution in France,
State of California) and contract
extensions (e.g. Lowe’s
contract extended to Canada in PLS)
-
Product launches (Inspire Evolve, iX range in
Germany, new outdoor locker solutions, expansion of Quadient
Impress Distribute) and new partnership between
YayPay and Sage
-
Continued recognition
from market research
firms (Quadrant, Aspire)
2021 upgraded
outlook
-
2021 organic revenue growth
compared to 2020 now expected above
4%, versus former guidance of minimum
2%
-
2021 organic current
EBIT2 growth
compared to 20203
now expected
between 5 and
6%, versus former guidance between 4 and 6%
Paris, 26 May 2021,
Quadient (Euronext Paris: QDT),
a leader in business solutions for meaningful customer connections
through digital and physical channels, today announces its
first-quarter 2021 consolidated sales.
Geoffrey Godet, Chief Executive Officer of
Quadient, stated: “We entered the second phase of our Back to
Growth strategic plan on a very strong footing. With our continued
leading positions and our new operating model now well established,
we are reaping the benefits of strong execution across all our
solutions. It has been another busy quarter in terms of new
customer acquisitions, exciting product launches and new
partnerships. Deploying our end-to-end Intelligent Communication
Automation software solutions, we continue to progressively shift
our client base to a SaaS model while benefiting from the strong
addition of recently acquired accounts payable and accounts
receivables solutions. We also experienced a strong rebound in our
mail-related business as evidenced by the high growth in hardware
sales. Finally, we have further increased our installed base of
smart parcel lockers, resulting into a steady growth in
subscription-related revenues. As the economy continues to recover,
we also recorded an improved usage of all our solutions which is
strong evidence of the relevance of our offering. Based on the
strong double-digit organic growth achieved in the first quarter,
we are upgrading our guidance for the full year.”
FIRST-QUARTER 2021 SALES INCREASED BY
11.1% ORGANICALLY
Consolidated
sales amounted to €246 million in the first quarter
of 2021, a 3.0%-increase compared to the first quarter of 2020.
Organic growth was +11.1%. Changes of scope are related to the
divestment of ProShip end-February 2020, the acquisition of YayPay
end-July 2020, the divestment from the Graphics activities in
Australia and New Zealand on 21 January 2021 and the
acquisition of Beanworks on 23 March 2021.
Quadient’s strategy is to promote
subscription-related revenues in all solutions, particularly
through SaaS4 subscription and rental sales.
Change in
Q1 2021
sales
In million euros |
Q1 2021 |
Q1 2020(a) |
Change(a) |
Change at constant rates(a) |
Organic change(a) |
Major Operations |
226 |
215 |
+5.2% |
+10.7% |
+10.3% |
Intelligent Communication Automation |
44 |
42 |
+4.4% |
+7.8% |
+5.8% |
Mail-Related Solutions |
159 |
158 |
+0.9% |
+6.3% |
+6.3% |
Parcel Locker Solutions |
22 |
15 |
+54.0% |
+67.9% |
+67.9% |
Additional Operations |
20 |
24 |
-15.6% |
-16.1% |
+21.1% |
Group total |
246 |
239 |
+3.0% |
+8.0% |
+11.1% |
|
|
|
|
|
|
In million euros |
Q1 2021 |
Q1 2020 |
Change |
Change at constant rates |
Organic change |
Major Operations |
226 |
215 |
+5.2% |
+10.7% |
+10.3% |
North America |
123 |
118 |
+4.9% |
+14.5% |
+13.7% |
Main European countries(b) |
91 |
85 |
+7.1% |
+7.2% |
+7.2% |
International(c) |
12 |
12 |
-5.6% |
-1.0% |
-1.0% |
Additional Operations |
20 |
24 |
-15.6% |
-16.1% |
+21.1% |
Group total |
246 |
239 |
+3.0% |
+8.0% |
+11.1% |
(a) 2020 data was restated to take into account the
product reclassification from Intelligent Communication Automation
to Mail-Related Solutions(b) Austria, Benelux, France,
Germany, Ireland, Italy, Switzerland, United
Kingdom.(c) International includes the activities of
Parcel Lockers Solutions in Japan and of Customer Experience
Management (ICA) outside of North America and the Main European
countries. |
Major Operations
Major Operations recorded
revenue of €226 million (92% of total sales) in the first
quarter of 2021, up by 10.3% on an organic basis compared to the
first quarter of 2020.
Sales in North America (55% of
Major Operations sales) posted a double digit organic growth in
Q1 2021 (+13.7%), driven by a strong rebound in Mail-Related
Solutions activity as well as continued dynamics in Parcel Locker
Solutions business.
Main European countries posted
a sharply improved performance in Q1 2021 (+7.2%) compared to
Q1 2020, notably benefiting from double-digit organic growth in
France.
The International segment
posted a slight decrease in revenue in Q1 2021 (-1.0%)
compared to Q1 2020.
Intelligent Communication
AutomationIntelligent
Communication Automation
sales stood at €44 million in the first quarter of 2021, up by
5.8% organically compared to the first quarter of 2020.
Subscription related revenue (70% of Intelligent
Communication Automation in Q1 2021) continued to show a strong
double-digit growth for both SMBs (+31%) and large accounts (+15%),
driven by sustained increases in SaaS and volume-based
activities.
Trends in professional services revenue have
improved while license sales recorded a sharp decline, mainly due
to the shift in business model to SaaS for both SMBs and large
accounts.
Moreover, Intelligent Communication Automation
benefitted from the continuing strong performance of YayPay and a
promising start of Beanworks.
Overall, Intelligent Communication Automation
recorded strong business dynamics with the gain of more than 600
new customers during the quarter, an increase in usage for Quadient
Impress and Quadient Inspire platforms, and the launch of new
products (version 1.2 of Quadient Impress Distribute, a new
business intelligence and dashboards module for YayPay). In
addition, the quarter recorded continued recognition from market
research firms (Quadrant, Aspire).
Mail-Related Solutions
Mail-Related Solutions sales stood at
€159 million in the first quarter of 2021, up by 6.3%
organically compared to the first quarter of 2020.
Sales experienced positive organic growth across
all geographies, with sustained performance in North America.
Subscription related revenue (73% of of
Mail-Related Solutions sales in Q1 2021), was virtually stable
(-0.9%), showing the resilience of the installed base.
Hardware sales experienced a strong rebound with
organic growth above 30% including new customers such as a
government contract with the State of California and a top tier
financial institution in France.
In addition, the iX series of our mailing
machines was launched in Germany.
Parcel Locker
SolutionsParcel Locker Solutions sales
stood at €22 million in the first quarter of 2021, up +67.9%
organically compared to the first quarter of 2020.
Subscription related revenue (50% of Parcel
Locker Solutions sales in Q1 2021), posted a double digit growth
(+20.2%) driven by the increase in the installed base in the United
States in 2020.
Hardware sales increased sharply driven by the
dynamics in the US retail market as well as pick up in
universities.
The UK market recorded a promising start during
this quarter.
Overall, during this quarter, Parcel Locker
Solutions recorded customer acquisitions with the onboarding of new
universities and the signature of the contract with Relais Colis in
France as well as the extension of Lowe’s contract to Canada. In Q1
2021, more than 900 units were installed and usage increased to
reach 70%.
Additional Operations
Additional Operations recorded
revenue of €20 million (8% of total sales) in the first
quarter of 2021, up 21.1% on an organic basis compared to the first
quarter of 2020.
Growth mainly reflected the increase in revenue
from Automated Packing Systems “CVP”.
FULL-YEAR 2021
UPGRADED OUTLOOK
Quadient is uniquely positioned in the market
due to the booming e-commerce activities and acceleration of
digitalization of processes, customer experiences, and business
communications.
Taking into account the strong performance
achieved in Q1 2021, full-year 2021 expected organic sales growth
is upwardly revised to above 4% (vs. former guidance of minimum 2%
organic sales growth) as well as organic current EBIT5 growth
compared to 20206 now expected between 5 and 6% in 2021 (vs. former
guidance of between 4 and 6 % organic current EBIT growth).
Q1 2021
BUSINESS HIGHLIGHTS
Quadient moves up three places in the
2020 Gaïa Research
Ranking
On 18 February 2021, Quadient announced it is
sixth in the 2020 Gaïa Research global ranking, moving up three
places compared to the previous year. Quadient that it also holds
the fifth position among companies with revenues above
€500 million. Every year, the rating recognizes the best
performing companies in France in environmental, social and
corporate governance (ESG), among a selected panel of 230 small and
medium-sized companies listed on Euronext Paris.
Quadient nearly doubles US Smart Locker
Installations in 2020 and reaches 13,000 units
worldwide
On 1 March 2021, Quadient announced its base of
smart locker stations has surpassed 13,000 worldwide, representing
more than 600,000 boxes overall and positioning Quadient as the
second largest global provider of Parcel Locker Solutions.
Acquisition of
Beanworks, a Leading FinTech in SaaS
Accounts Payable Automation Solutions
On 22 march 2021, Quadient announced the signing
of a definitive agreement to acquire Beanworks, a fast-growing
market leader specializing in Software as a Service (SaaS) Accounts
Payable Automation solutions.
Quadient Increases its Commitment
to ESG by Joining the United
Nations Global Compact as a Signatory Member
On 25 March 2021, Quadient announced it has
joined the United Nations Global Compact, the world’s largest
corporate sustainability initiative. Quadient joins more than
12,000 companies across the globe in aligning strategies and
operations with the UN Global Compact’s ten universal principles on
human rights, labor, environment and anti-corruption.
Quadient and Major Parcel Delivery
Player Relais Colis
Sign Strategic Partnership to Roll-Out 500 Parcel Lockers
in French Retail Stores
On 13 April 2021, Quadient announced a strategic
partnership with Relais Colis, a major player in parcel delivery to
consumers in France. Through the partnership, Quadient will drive
the roll-out of its new Parcel Pending Lite automated lockers to
large and medium-sized retail partners of the Relais Colis network
in France.
Through an agreement for 500 units to be
progressively installed in France over three years, Relais Colis is
trusting Quadient in what will be one of the first large-scale
deployments of the new Parcel Pending Lite unit after its global
launch in 2020. This innovative and patented solution provides
multiple benefits to Relais Colis, to the stores where it will be
installed and to online shoppers.
Quadient Recognized as Technology Leader
in CCM and Customer Journey Mapping by Global Research
Firm
On 19 April 2021, Quadient announced it is the
only customer communications management (CCM) solutions provider
that has been recognized as a leader in both CCM and customer
journey mapping in two separate SPARK Matrix™ research reports
recently published by Quadrant Knowledge Solutions, a global
research and consulting firm. Additionally, Quadient is the only
technology company to appear in both reports, which highlights
Quadient’s unique position in bridging the CCM and customer
experience management (CXM) markets.
Quadient was named a technology leader in the
2021 SPARK Matrix for CCM, recognized for offering a variety of CCM
offerings that enable greater control over customer communications
and provide a holistic view of CCM workflows, with key features
that include streamlined processes, enhanced efficiency and
personalized omnichannel communications from a single cloud-based
or on-premises platform.
In the SPARK Matrix Customer Journey Mapping
report, Quadient was named a leader for its software as a service
(SaaS) journey mapping tool that incorporates the digital and
physical touchpoints across an organization with which customers
interact into lucid journey maps.
POST-CLOSING EVENTS
Quadient Introduces Inspire Evolve, a
Cloud-based Customer Communications Management Solution, and
Continues Software Strategy of SaaS Footprint ExpansionOn
4 May 2021, Quadient announced the global launch of Inspire Evolve,
a high-performance, software-as-a-service (SaaS) customer
communications management (CCM) solution. The solution supports
rapid enterprise transformation by empowering all employees,
regardless of technical expertise, with the ability to control
customer communications with little reliance on IT. With Inspire
Evolve, customer communications can be maintained and delivered in
the cloud by individual lines of business in the moment they are
needed.
Inspire Evolve addresses the growing demand for
a powerful cloud-based customer communications solution that easily
integrates with and streamlines existing technology, requiring
minimal implementation lead times and helping teams rapidly design
and deliver secure, personalized human-centric communications.
Quadient’s Accounts Receivable
Automation Solution YayPay Joins
Sage Marketplace to address Small and Medium Businesses
NeedsOn 24 May 2021, Quadient announced that its
software-as-a-service (SaaS) accounts receivable (AR) automation
solution YayPay by Quadient is now available to small and
medium-sized businesses through the web-based Marketplace of Sage,
the global leader in cloud business management solutions.
Part of Quadient’s Intelligent Communication
Automation (ICA) solutions portfolio, YayPay will be made available
to Sage X3 clients via the Sage Marketplace, a web-based
application listing both resale and referral independent software
vendor partner applications that integrate
with Sage cloud products. This partnership aligns
Quadient with one of the world’s leading providers of business
management and financial technologies.
CONFERENCE CALL &
WEBCAST
Quadient will host a
conference call and webcast on 26
May 2021 at 6:00
pm Paris time (5:00pm London time). The meeting will be held in
English.
To join the webcast,
click on the following link: Webcast.
To join the conference
call, please use one of the following phone number:
▪ France: +33 (0) 1 70
37 71 66;
▪ United States: +1
212 999 6659;
▪ United Kingdom: +44
(0) 33 0551 0200;
Password: QUADIENT
A replay of the audio
webcast will be available for a period of one year.
CALENDAR
- 1 July
2021: Annual General Meeting
(https://invest.quadient.com/en-US/annual-general-meetings);
-
Education session on the
Mail-Related Solutions activity
(event details will be communicated later);
- 27 September 2021:
First half 2021
results and second quarter 2021
sales.
***
About Quadient®Quadient is the
driving force behind the world’s most meaningful customer
experiences. By focusing on three key solution areas, Intelligent
Communication Automation, Parcel Locker Solutions and Mail-Related
Solutions, Quadient helps simplify the connection between people
and what matters. Quadient supports hundreds of thousands of
customers worldwide in their quest to create relevant, personalized
connections and achieve customer experience excellence. Quadient is
listed in compartment B of Euronext Paris (QDT) and is part of the
CAC® Mid & Small and EnterNext® Tech 40 indices.
For more information about Quadient, visit
https://invest.quadient.com/en-US.
Contacts
Laurent Sfaxi+33 (0)1 45 36 61
39l.sfaxi@quadient.comfinancial-communication@quadient.com |
OPRG FinancialIsabelle Laurent / Fabrice Baron+33
(0)1 53 32 61 51 /+33 (0)1 53 32 61
27isabelle.laurent@oprgfinancial.frfabrice.baron@oprgfinancial.fr |
Caroline Baude+33 (0)1 45 36 31
82c.baude@quadient.com |
|
1 Q1 2021 sales are compared to Q1 2020
sales, from which is deducted, prorata temporis, revenue from
ProShip and the graphics activities in Australia and New Zealand
and to which is added, prorata temporis, revenue from YayPay and
Beanworks, for a consolidated amount of -€6.7 million, and are
restated after a €12 million negative currency impact over the
period.2 Current EBIT = current operating income before
acquisition-related expenses.3 On the basis of 2020 current
operating income before acquisition-related expenses excluding
Parcel Pending’s earn-out reversal, i.e. €145 million.4 SaaS =
Software as a Service5 Current EBIT = current operating income
before acquisition-related expenses.6 On the basis of 2020 current
operating income before acquisition-related expenses excluding
Parcel Pending’s earn-out reversal, i.e. €145 million.
QUADIENT (EU:QDT)
Historical Stock Chart
From Apr 2024 to May 2024
QUADIENT (EU:QDT)
Historical Stock Chart
From May 2023 to May 2024