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Quadient upgrades its full-year 2020 outlook

News Provided by GlobeNewswire2021-01-21

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Quadient upgrades its full-year 2020 outlook

Paris, 21 January 2021

Quadient (Euronext Paris: QDT), a leader in helping businesses create meaningful customer connections through digital and physical channels, today upgrades its full-year 2020 outlook (fiscal year ending on 31 January 2021).

Despite the impact of the lasting COVID-19 situation, and the fiscal year 2020 has not yet concluded, Quadient’s level of activity during the fourth quarter is delivering better than expected. This confirms the improved business trend recorded in the third quarter, driven especially by stronger sales growth in Parcel Locker Solutions, positively impacting the Group’s overall organic growth performance. Moreover, free cash flow generation has been much stronger than initially anticipated.

Consequently, Quadient now expects for full-year 2020¹:

Organic sales decline of around 8% compared to full-year 2019 (vs. around 9% previously stated);
Current EBIT² in the range of €140 million to €145 million³ (unchanged);
Free cash flow⁴ above €130 million³ (vs. above €100 million previously stated).

Geoffrey Godet, Chief Executive Officer of Quadient, commented: “We are very pleased that our most recently updated figures for the fourth quarter of 2020 confirm the strong rebound in revenue trend recorded in the third quarter, despite the resurgence of the COVID-19 pandemic and its economic impact. Our upgraded outlook mainly comes as a result of stronger sales growth in Parcel Locker Solutions, demonstrating the relevance of our smart lockers for retailers, carriers and property managers as consumers demand for convenient, efficient and safe solutions to retrieve deliveries and is compounded by increases in online shopping. In addition, our ongoing efforts to adapt our operating expenses and prioritize our growth investments have contributed to higher free cash flow generation than initially anticipated.”

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About Quadient®
Quadient is the driving force behind the world’s most meaningful customer experiences. By focusing on four key solution areas including Customer Experience Management, Business Process Automation, Mail-Related Solutions, and Parcel Locker 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.

Financial calendar

10 February 2021: Education session on Parcel Locker Solutions(event details to be published shortly);
30 March 2021: Full-year 2020 results and Capital Markets Day.

Contacts

Laurent Sfaxi, Quadient
+33 (0)1 45 36 61 39
l.sfaxi@quadient.com
financial-communication@quadient.com

OPRG Financial
Isabelle Laurent / Fabrice Baron
+33 (0)1 53 32 61 51 /+33 (0)1 53 32 61 27
isabelle.laurent@oprgfinancial.fr
fabrice.baron@oprgfinancial.fr

Caroline Baude, Quadient
+33 (0)1 45 36 31 82
c.baude@quadient.com

¹ The indications given up to 2022 as part of the “Back to Growth” plan remain suspended.

² Current operating income before acquisition-related expenses.

³ ^{Based on H1 2020 average exchange rates.}

⁴ Cash flow after capital expenditure^.

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