Leuven, Belgium – 1 August 2022 – 7h30 am, Crescent NV, Geldenaaksebaan 329, 3001 Leuven (Euronext Brussels: OPTI)
With 22 % year-on-year growth in shipments and almost 40% growth in incoming orders booked during the first semester of 2022, Crescent remains confident about realizing its ambitious target of better than 25% annualized growth. The company is already benefitting from strategic measures implemented last year to broaden its portfolio with the sensor capabilities of Remoticom and strengthen its offering through integrated end-to-end IOT solutions rather than mere gateway connectivity devices. In combination with a leaner operating structure and successful completion of an advanced and performant software platform for the leisure market; Crescent has laid solid foundations for sustainable and profitable growth in both of its operating divisions (solutions and services). Ebitda has more than doubled year-on-year and will continue to benefit from rapidly growing scale economies and efficiency gains in 2022. We maintain a double digit ebitda objective on the horizon by the end of the year.
Given that Crescents backlog now exceeds its ability to ship everything during the remainder of the calendar year in part due to supply chain issues related to the availability of electronic components and growing uncertainties about the faith of the global economy; financing of ‘working capital needs’ and ‘operational resources’ are becoming the biggest challenges that lie ahead. To cope with such challenges VZH recently extended its credit lines to the company eliminating the need to make use of LDA financing.
Crescent will release more information about several large OEM projects booked or in progress as soon as customers allow us to do so.
B-3001 Leuven, Belgium
TEL: +32 (0) 16 31 74 11