Bollène,
Press Release
2020 first half results
·H1 2020 Turnover: €17.28m (+16.2% YoY)
·Net Income: 4k€, improvement of €1.89m
·June Order Backlog: €21.4m
·Order intake impacted by Covid crisis: €16.2m
·Maintaining the full-year breakeven target for 2020
·Slight growth anticipated in all business unit for 2021
The Audit Committee and the Board of Directors met to approve the interim financial statements for the six months ended
Egide Group’s consolidated EBITDA (corrected from IFRS16) for the six-month period ended
First-half Results consolidated P&L (In €m) | H1 2019 | As a percentage of revenues | H1 2020 | As a percentage of revenues |
Sales | 14.87 | 17.27 | ||
EBITDA from operation* | (0.18) | (1%) | 0.93 | 7% |
EBIT | (1.38) | (9%) | 0.52 | 3% |
Net result | (1.71) | (12%) | 4k€ | 0% |
*Ebitda corrected from IFRS16
CONSOLIDATED FINANCIALS AS OF
North American sales now account for 63.7% of the Group's total turnover in the first half of 2020.
The Egide group was able to maintain an appropriate level of activity within its 3 industrial sites while complying with the health and safety instructions for its employees due to the Covid-19 crisis. This allowed the company to complete the first half of the year near the Group's internal budget.
Suppliers and customers continued to operate globally with an extremely low number of order postponements and cancellations.
However, commercial activity has been reduced as requests for quotations have slowed down. The operating cycle of the activity being quite long, the impact on the end of 2020 will remain limited. In the frame of its worldwide sales strategy to develop Egide’s export business, Egide has relaunched in June its actions to increase its international network coverage, particularly in
RESULTS AS OF
In H1 2020 the
For
At Santier, the release of satellite programs with major defense contractors has allowed the company to improved revenues by 10.7%. Santier continues to work on machined components in both package materials such as Kovar, as well has heat seat materials such as CuMo and CuW. Activity in new machined materials and products are underway. Productivity and efficiency programs regarding machining are of key importance to improve revenues and margins.
The North American business units both applied for and received funding from the federal Paycheck Protection Program in April of 2020, totaling over
The Group's consolidated operating profit improved by more than
It should be noted that the Net Result is calculated after a tax charge of €215k, which will not affect the cash flow.
CONSOLIDATED BALANCE SHEET AS OF
ASSETS | LIABILITIES | ||||
H1 2019 | H1 2020 | H1 2019 | H1 2020 | ||
Non-current assets | 11.60 | 10.81 | Shareholders’ Equity | 11,42 | 10.40 |
Inventory, trade, and other receivables | 14.32 | 14.6 | Financial debt and provisions | 12.81 | 12.62 |
Cash | 3.87 | 2.93 | Trade and other payables. | 5.7 | 5.31 |
TOTAL | 29.79 | 28.34 | TOTAL | 29.79 | 28.34 |
Capital expenditure for the half year amounted to €215k.
Loan payments were offset by new loans: €400k of PGE (state-guaranteed loan) in
MAIN EVENTS SINCE
As previously disclosed in 2 press releases, there was a fire at the
OUTLOOK
At
Santier is experiencing a high volatility of activity due to the current situation related to Covid-19 and the short-term activity will be impacted. However, market trends seem favorable and the strong resilience of the Defense markets should benefit the
At
For the year 2021, management anticipates slight growth in all business units thanks to a few positive signs. But the continuation of the health crisis could limit its ambitions.
FINANCIAL CALENDAR
Half Year 2020 Results presentation to analysts & Investors - By Visio conference | |
Availability of the 2020 Half-Year Financial Report | |
2020 full year sales | |
CONTACTS
EGIDE –
FIN’EXTENSO – Press Relations -
About Egide - www.egide-group.com
Egide is a group with an international dimension, specialized in the manufacture of hermetic packages and heat dissipation solutions for sensitive electronic components. It operates in cutting edge markets with strong technology barriers to entry in all critical industry segments (Thermal Imaging. Optronics. High-Frequency. Power Units…). Egide is the only pure player in this market niche with manufacturing bases in
Egide’s eligibility for tax efficient French innovation-focused mutual funds (FCPI) was renewed
on
Egide is listed on Euronext Paris™- Segment C - ISIN code: FR0000072373 – Reuters: EGID.PA – Bloomberg: GID
Attachment
- Egide-PR-2020-HY-Results-200930
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