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PRESS RELEASE FIRST - QUARTER 2021 SALES quadient Because connections matter . Quadient - Strong revenue performance in the first quarter of 2021 with organic growth of 11.1 % Strong organic growth driven by all solutions • Total sales of € 246 million in Q1 2021 , up 11.1 % ¹ organically vs. Q1 2020 ( up 3.0 % on a reported basis ) Good dynamics across all solutions : • • Intelligent Communication Automation up 5.8 % organically , supported by a 21.4 % growth in subscription - related revenue , continuing strong performance of YayPay and a promising start of newly - acquired Beanworks Marked rebound in Mail - Related Solutions ( + 6.3 % organic growth ) fueled by a 30 % + growth in hardware sales • Sustained high growth in Parcel Locker Solutions ( + 67.9 % organically ) " Strong organic growth in North America ( + 13.7 % ) , coupled with a much improved performance in Europe ( + 7.2 % ) Dynamic business and operational execution " ■ • Customer acquisitions ( ICA : 600+ customers in Q1 2021 ; PLS : new universities onboarded and Relais Colis in France ; MRS : top tier financial institution in France , State of California ) and contract extensions ( e.g. Lowe's contract extended to Canada in PLS ) Product launches ( Inspire Evolve , iX range in Germany , new outdoor locker solutions , expansion of Quadient Impress Distribute ) and new partnership between YayPay and Sage Continued recognition from market research firms ( Quadrant , Aspire ) 2021 upgraded outlook ■ 2021 organic revenue growth compared to 2020 now expected above 4 % , versus former guidance of minimum 2 % 2021 organic current EBIT² growth compared to 2020³ now expected between 5 and 6 % , versus former guidance between 4 and 6 % Paris , 26 May 2021 , Quadient ( Euronext Paris : QDT ) , a leader in business solutions for meaningful customer connections through digital and physical channels , today announces its first - quarter 2021 consolidated sales . Geoffrey Godet , Chief Executive Officer of Quadient , stated : " We entered the second phase of our Back to Growth strategic plan on a very strong footing . With our continued leading positions and our new operating model now well established , we are reaping the benefits of strong execution across all our solutions . It has been another busy quarter in terms of new customer acquisitions , exciting product launches and new partnerships . Deploying our end - to - end Intelligent Communication Automation software solutions , we continue to progressively shift our client base to a SaaS model while benefiting from the strong addition of recently acquired accounts payable and accounts receivables solutions . We also experienced a strong rebound in our mail - related business as evidenced by the high growth in hardware sales . Finally , we have further increased our installed base of smart parcel lockers , resulting into a steady growth in subscription - related revenues . As the economy continues to recover , we also recorded an improved usage of all our solutions which is strong evidence of the relevance of our offering . Based on the strong double - digit organic growth achieved in the first quarter , we are upgrading our guidance for the full year . " ¹ Q1 2021 sales are compared to Q1 2020 sales , from which is deducted , prorata temporis , revenue from ProShip and the graphics activities in Australia and New Zealand and to which is added , prorata temporis , revenue from YayPay and Beanworks , for a consolidated amount of - € 6.7 million , and are restated after a € 12 million negative currency impact over the period . 2 Current EBIT = current operating income before acquisition - related expenses . 3 On the basis of 2020 current operating income before acquisition - related expenses excluding Parcel Pending's earn - out reversal , i.e. € 145 million . 1/6