Revenue for the first quarter of 2024
Lepermislibre / Key word(s): Quarter Results
Revenue for the first quarter of 2024
10-Apr-2024 / 18:05 CET/CEST
Press release
Revenue for the first quarter of 2024
Lyon, April 10th, 2024 - lePERMISLIBRE, a pioneer in online driving school in France, publishes its revenue for the first quarter of 2024. The period was marked by continued growth in the traditional offerings segment, but also by significant challenges for driving licence training courses financed through the Personal Training Account (CPF).
In thousands of euros
French accounting standards
T1
2024
2023
Var.
Sales figures
3,728
4,167
(11) %
Of which traditional learners
1,926
1,870
+3 %
Of which CPF learners
1,797
2,287
(21) %
Other
5
10
-
Revenue fell by 11% compared with the previous year, to €3.7m, influenced in particular by a 21% drop in CPF business, despite continued growth in trainings paid cash.
Apprenticeships financed by the CPF are dependent on the annual contribution of 500 euros per employee paid by the State, which takes place in March each year and has a significant influence on the generation of orders and sales in months that follow. This situation, which has already been observed in previous financial years, is repeated at the start of 2024. In addition, the reduction in marketing investment in CPF in 2023 helped optimize the profitability of this sales channel, but slowed order intake, which is a source of future revenue.
The first quarter of 2023 also saw exceptional growth of 80% in sales generated by learners self-financing their training, establishing a high basis for comparison for the first quarter of 2024.
To respond to these changes, lePERMISLIBRE has adjusted its pricing policy for driving hours to partly offset the fall in volumes.
Lucas Tournel, CEO of lePERMISLIBRE, shares his perspective on the development of the business: "This first quarter has not lived up to our expectations, forcing us to react quickly. These challenges have highlighted our team's ability to adapt and have enriched our understanding of the market and our customers' needs. Improvements in our organization in 2023 make us more resilient in the face of market variations and enable us to navigate better in these times of slowdown. Against this backdrop, we are continuing our efforts and adapting our spending to optimize our cash flow and reach profitability."
Next press release
July 10th 2024: First Hal-Year 2024 Revenue
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ABOUT lePERMISLIBRE
Founded in Lyon in 2014 and a pioneer of digital driving schools in France, lePERMISLIBRE is reinventing driving lessons by providing a disruptive offering compared to traditional players, more aligned with the new habits and lifestyles of the digital native generation that grew up with the development of digital technology. lePERMISLIBRE federates a community of more than 1,000 loyal, committed, and passionate driving instructors, all of whom are State-qualified. Its digital model, which is more agile, totally transparent and 35% cheaper than a traditional driving school, has enabled it to attract more than 500,000 applicants.
With a user rating of nearly 5 stars on Trustpilot, the platform provides personal spaces to offer better learning methods and revisions to the Highway Code, as well as the ability to book driving lessons from over 550 towns and cities throughout France, with the instructor of their choice, 7 days a week, from 6 am to 11 pm, freeing students from time and place constraints.
The company is listed on Euronext Growth Paris (ISIN: FR001400F2Z1, mnemo: ALLPL) – Eligible for PEA PME – Qualified as an “Innovative Company” by Bpifrance.
For more information about the company, visit www.lepermislibre.fr
CONTACTS
lePERMISLIBRE
Lucas TOURNEL, Chairman and Chief Executive Fabrice KILFIGER, Chief Financial Officer
invest@lepermislibre.fr
Delphine Margot, Communication
delphine.margot@lepermislibre.fr
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The issuer is solely responsible for the content of this announcement.
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Language: English
Issuer: Lepermislibre
29 avenue Joannes Masset
69009 Lyon
France
Phone: +33660423991
Internet: ww.lepermislibre.fr
ISIN: FR001400F2Z1
EQS News ID: 1877675
End of Announcement - EQS News Service