PR: estimated 2019-2020 earnings

A pivotal year to change dimension

 

2CRSi announces its estimated earnings for the 2019-20 period.

 

Consolidation plans could not be completed to schedule due to the unprecedented impact of the COVID-19 crisis which has severely impeded the consolidation of the accounts of Boston Limited, undergoing its first integration.

Once consolidation is completed, the consolidated accounts will be audited and submitted for approval by the Board of Directors, and set out in a press release in July. Note that in this particular instance the period lasted 14 months (January 1, 2019 to February 29, 2020), the end of its fiscal year having been set to end-February to align with that of Boston Limited and present its activities in a manner that is more consistent with the seasonal nature of its business, which is traditionally strong over the final months of the calendar year.

The big picture

• Acquisition of Boston Limited: acceleration of commercial roll-out and international expansion

• Estimated pro forma performance1 over 12 months: revenue €145.3m, EBITDA €3.2m

Recent developments in 2020-21

• Despite COVID-19 impact, pro forma growth estimated at +18% in the first quarter

• Stepped-up marketing and sales initiatives • Extension of product catalog

• New plans to expand internationally New targets for 2020-21

• Robust revenue growth, expected

New targets for 2020-21

• Robust revenue growth, expected at €170-200m

• Improved level of profitability