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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Clasquin | EU:ALCLA | Euronext | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.50 | 0.37% | 136.00 | 135.50 | 136.00 | 136.00 | 135.50 | 135.50 | 915 | 16:35:04 |
*: number of shipments and volumes
Regulatory News:
CLASQUIN (Paris:ALCLA):
9 months
Quarters
Sept 2023 9 months
Sept 2022 9 months
Change
Like for like (lfl)***
Q3 2023/
Q3 2022
Q2 2023/
Q2 2022
Q1 2023/
Q1 2022
CONSOLIDATED (unaudited)
Number of shipments**
247,861
236,962
+4.6%
+2.6%
+2.5%
+6.8%
+4.6%
Sales (€m)*
417.0
699.9
-40.4%
-46.7%
-44.0%
-36.7%
-40.5%
Gross profit (€m)
103.1
107.3
-3.9%
-14.1%
+0.6%
+1.4%
-14.1%
* Sales is not a relevant indicator of business in our sector, as it is greatly impacted by changing air and sea freight rates, fuel surcharges, exchange rates (particularly versus USD), etc. Changes in the number of shipments, volumes shipped and, in financial terms, gross profit are relevant indicators. ** The number of shipments does not include the TIMAR acquisition. *** Like for like: excluding acquisitions of Exaciel (01/07/2022), CVL (01/07/2022), TIMAR (28/03/2023) and Log System disposal (01/03/2022) & constant exchange rates.
BUSINESS VOLUMES AND GROSS PROFIT
The market conditions experienced in H1 2023 persisted in Q3:
This dual trend continued to weigh on sea freight rates, which returned to and sometimes dipped below pre-COVID levels, particularly on European export routes.
Air freight rates continued to show stronger resistance and remained higher than in the pre-pandemic period.
Against this backdrop, the Group continued to outperform the market, maintaining overall growth of 2.6% (excluding the acquisition of the TIMAR Group*) in the number of shipments in Q3 (up 4.6% for the first 9 months).
The air freight business was particularly buoyant, bolstered by a 7.1% increase in volumes shipped in Q3, an 11.0% rise in the number of shipments (excluding the TIMAR Group*) and virtually stable gross profit, down 0.6% due to a highly challenging basis for comparison in terms of unit margins, which nonetheless remained higher than in the pre-COVID period (up at least 30%).
Sea freight volumes also increased in Q3: volumes shipped up 1.9% and number of shipments (excluding the TIMAR Group*) up 0.9%. However, as in the air freight business, the decline in unit margins due to the exceptional performance in 2022 impacted sea freight gross profit, down 19.3% in Q3.
Gross profit for the road brokerage business doubled in Q3 (up 107%) driven by the TIMAR Group* acquisition and the 7.9% expansion of the historic consolidation scope.
For the second consecutive quarter and despite a highly challenging basis for comparison, Group gross profit remained above the exceptional level reached in 2022 thanks to:
Furthermore, TIMAR Group* Q3 gross profit amounted to €4.9m, down from Q2 2023 due to seasonal trends, as the summer months are traditionally sluggish in North Africa.
* TIMAR: a Moroccan group in which the CLASQUIN Group acquired a controlling interest on 28 March 2023
BREAKDOWN BY BUSINESS LINE
NUMBER OF SHIPMENTS**
GROSS PROFIT (€m)
At current scope
and exchange rates
9M 2023
9M 2022
Change
9M 2023/
9M 2022
Change
Q3 2023/
Q3 2022
9M 2023
9M 2022
9M 2023/
9M 2022
Q3 2023/
Q3 2022
Sea freight
102,485
103,154
-0.6%
+0.9%
50.3
60.9
-17.3%
-19.3%
Air freight
65,013
55,555
+17.0%
+11.0%
27.9
30.7
-9.1%
-0.6%
Road Brokerage*
54,603**
52,262
+4.5%
+2.2%
19.1
10.8
+77.1%
+107.0%
Other (rail, customs, logistics)
25,760
25,991
-0.9%
-9.5%
5.9
4.6
+28.9%
+63.8%
TOTAL OVERSEAS BUSINESS
247,861
236,962
+4.6%
+2.5%
103.1
106.9
-3.6%
+0.6%
Log System (sold on 01/03/2022)
N/A
0.4
N/A
N/A
Consolidation entries
N/A
(0.1)
N/A
N/A
TOTAL CONSOLIDATED
103.1
107.3
-3.9%
+0.6%
* Road brokerage includes the road haulage business previously included in “Other businesses” and the RORO business (roll on/roll off). ** Excluding the TIMAR Group
VOLUMES
9M 2023
9M 2022
9M 2023/
9M 2022
Q3 2023/
Q3 2022
Sea freight
196,697 TEUs*
200,505 TEUs*
-1.9%
+1.9%
Air freight
51,804T**
50,685T**
+2.2%
+7.1%
* Twenty-foot equivalent units ** Tons
POST-Q3 2023 HIGHLIGHTS
On 1 November 2023, the Group exceeded the threshold of 95% of TIMAR SA’s share capital. A mandatory squeeze-out offer was filed on 7th November with the Moroccan Capital Market Authority (AMMC).
2023 OUTLOOK
2023 MARKET International trade by volume: up 0.8% (WTO – Oct 2023)
CLASQUIN 2023 Business (number of shipments and volumes): outperform market growth
UPCOMING EVENTS (publication after market closure)
Q4 2023 business report
2023 annual results
Q1 2024 business report
Q2 2024 business report
H1 2024 results
Q3 2024 business report
CLASQUIN is an air and sea freight forwarding and overseas logistics specialist. The Group designs and manages the entire overseas transport and logistics chain, organising and coordinating the flow of client shipments between France and the rest of the world and, more specifically, to and from Asia-Pacific, North America, North Africa and sub-Saharan Africa.
Its shares are listed on EURONEXT GROWTH, ISIN FR0004152882, Reuters ALCLA.PA, Bloomberg ALCLA FP. Read more at www.clasquin.com.
CLASQUIN confirms its eligibility for the share savings plan for MSCs (medium-sized companies) in accordance with Article D. 221-113-5 of the French Monetary and Financial Code established by decree number 2014-283 of 4 March 2014 and with Article L. 221-32-2 of the French Monetary and Financial Code, which set the conditions for eligibility (less than 5,000 employees and annual sales of less than €1,500m or balance sheet total of less than €2,000m).
CLASQUIN is listed on the Enternext© PEA-PME 150 index.
LEI: 9695004FF6FA43KC4764
View source version on businesswire.com: https://www.businesswire.com/news/home/20231107768264/en/
CLASQUIN Philippe LONS – Deputy Managing Director/Group CFO Domitille CHATELAIN – Group Head of Communication & Marketing Tel.: +33 (0)4 72 83 17 00 – Fax: +33 (0)4 72 83 17 33
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