A few days ago, the laser manufacturer Lumibird Group released its third-quarter financial report, Q3 revenue of 32.7 million euros, a year-on-year increase of 32.1%. As of September 30, Lumibird's consolidated revenue for the first three quarters was 78.5 million euros, a year-on-year increase of 2.6%. If you include the revenue of the Ellex brand, Lumibird's total revenue for the first three quarters was 98.2 million euros. Lumibird reached a deal with Ellex at the end of 2019. The former acquired Ellex's laser and ultrasound business for 100 million Australian dollars (approximately 62 million euros). Ellex is a company specializing in ophthalmic laser medical treatment.
Lumibird is currently divided into Laser Division and Medical Division. The three major businesses of the laser business are defense/space business, industrial and scientific business, and lidar business. The laser business unit’s revenue in the first three quarters of 2020 was 44.4 million euros: the defense/space business mainly benefited from the growth of non-contract sales, offsetting some of the contraction effects brought about by long-term contracts. The revenue in the first three quarters was 12.8 million euros, a year-on-year decline 24.3%; Industrial and scientific business revenue due to the increase in orders from flat panel displays and medical application OEMs in the third quarter, the business was basically stable in the first three quarters, down 2.9% year-on-year to 17.8 million euros; Lidar business was mainly due to applications in autonomous vehicles Lidar sales fell, and revenue fell 6.0% to 13.8 million euros.
The medical business unit benefited from the acquisition of Ellex, Essmad and Optotek Medical, and revenue in the first three quarters increased by 28.3% to 34.1 million euros. Q3 revenue soared 105.8% to 18.3 million euros. Among them, Ellex contributed 8.8 million euros, and ESSMED and Optotek each contributed 400,000 euros. The remaining 8.7 million euros was equivalent to the revenue of the same period before the merger last year, and also showed a certain growth trend. After the cancellation of major international ophthalmology conferences in the first half of this year, the medical business unit was also significantly affected by the crisis.
Lumibird believes that thanks to their crisis management measures, business development and Ellex's rapid integration, Lumibird is expected to reach its full-year revenue forecast for 2020. Based on the order status so far, Lumibird expects revenue in the fourth quarter to reach a new high.