Sogeclair: results for the 1st half 2021
September 08 2021 - 10:35AM
Sogeclair: results for the 1st half 2021
Blagnac, France, September 08th 2021
-5.35pm,Montreal, Canada
RESULTS
FOR THE 1st HALF 2021Turnover =
€59.1 M i.e -14.2%, -7.7% at constants exchange
rate and perimeter(€30.4M over the 2nd quarter i.e
+18.7%)EBITDA (1) = €1.8 M
vs €-1.1 M at the 1st half 2020Equity=
€55.2 M in H1 2021 vs €46.0 M at H1
2020Net debt(2) = €10.9M in H1
2021 vs €20.9M at H1 2020(2) Financial debt including IFRS 16 debt
+ defered « Covid » social debts – Cash
SOGECLAIR, designer and
manufacturer of innovative high added-value solutions for the
mobility, announces today its financial results for the 1st half
ended June 30th 2021.
The Board of Directors, meeting on September 06th
2021, closed the 1st semester accounts for 2021. The limited
examination procedures on the half-year accounts have been
accomplished.
In € million |
H1 2021 |
H1 2020 |
H1 2021 / H1 2020 |
|
|
Turnover |
59.1 |
68.9 |
-14.2% |
|
International |
28.1 |
37.3 |
-24.7% |
|
EBITDA(1) |
1.8 |
-1.1 |
|
|
As a % of turnover |
3.0% |
-1.6% |
|
|
Operating income |
-2.0 |
-17.1 |
|
|
As a % of turnover |
-3.4% |
-24.9% |
|
|
Net Result |
-1.9 |
-16.3 |
|
|
Including group share |
-1.5 |
-15.9 |
|
|
(1) Operating income – other operating income and
charges + amortization expenses and operating provisions
As anticipated, the first half of 2021 marks an
inflection point in terms of activity with a second quarter that is
back to growth.The restructuring plan initiated in mid-2020 has
enabled the company to lower its breakeven point by nearly €2
million per month, the EBITDA for the first half of the year has
become positive again at €1.8 million.The balance sheet has been
strengthened with equity at €55.2 million (+20%) and the net debt,
including "COVID" social debts and state-guaranteed loans, downs to
€10.9 million, i.e. -47.8% in one year.
The contribution by division is the
following:
In € million |
Aerospace H1
2021 H1 2020 |
Simulation H1
2021 H1 2020 |
Vehicle H1
2021 H1 2020 |
Holding H1
2021 H1 2020 |
Turnover |
44.7 |
51.2 |
13.9 |
17.2 |
0.5 |
0.4 |
|
|
EBITDA |
2.8 |
-0.6 |
-1.2 |
-1.4 |
-0.5 |
-0.4 |
0.6 |
1.3 |
Operating Income |
1.0 |
-15.6 |
-2.3 |
-1.7 |
-0.6 |
-0.6 |
0.0 |
0.8 |
The aerospace division
benefited in the 2nd quarter from the beginning of a recovery in
commercial aviation, the resumption of activity in Germany after
restructuring, and good activity in business aviation and
space.
The simulation division
suffered the consequences of the ransomware which froze the railway
activity for one month and has cost approximately €1M.The
vehicle division is going on its commercial
investments in protection vehicle offer against improvised
explosive.
PerspectivesWith an improving
profitability and a solid balance sheet, SOGECLAIR confirms its
forecast of a profitable 2021 financial year.The "ONE SOGECLAIR"
transformation plan, which will provide a revamped offer more
premium and a more flexible organization, aims at a significant
improvement in performance beyond that of the years before
COVID.The arrival of Olivier Pedron (ex Collins Aerospace) guides
this plan.
Next announcement: turnover for Q3 2021,
on November 03rd 2021 after closing of the Stock
Market
About SOGECLAIRDesigner and
manufacturer of innovative high added-value solutions, SOGECLAIR
brings its skills in high-quality engineering and production to a
broad range of cutting-edge sectors, notably aeronautics, space,
vehicle, rail and defense. Supporting its customers and partners
from the design and simulation stages through to the end of the
product’s lifetime, all along the production chain through to entry
into service, the collaborators are working worldwide to offer a
high-quality, proximity support to all its customers.SOGECLAIR is
listed on Euronext Paris – Compartment C – Euronext® Family
Business Index -Code ISIN: FR0000065864 – PEA PME 150 / (Reuters
SCLR.PA – Bloomberg SOG.FP)Contacts: Philippe
ROBARDEY, President & CEO of SOGECLAIR / Marc DAROLLES,
Executive Vice President of SOGECLAIRwww.sogeclair.com - +33(0)5 61
71 70 33
- PR SOGECLAIR H1 2021 Results
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