Roctool S A : 20230414 Roctool RA ENG

Press Release

Le Bourget-du-Lac, 14th April 2023 - 8am CET

Results 2022

ROCTOOL reaches a milestone

Record Activity

Strong improvement in operating and net income

Profitable growth trajectory based on its unique and efficient

eco-friendly molding technology

The Roctool Board of Directors (Euronext Growth - FR0010523167 - ALROC), specialists in mold heating and cooling technologies for plastics and composites, met on April 13, 2023 to approve the 2022 financial statements. The group recorded a record annual turnover of €9.4M on 31 December 2022, up +14% compared to 2021, and +44% compared to 2020.

Mathieu Boulanger, Roctool CEO comments:

"I would like to thank all the employees whose expertise and work, in a complex global context, have enabled our innovation to be successfully recognized. In 2022, Roctool will achieve an unprecedented turnover with a very strong growth in Roctool systems and services (respectively +41% and +44% vs 2021). This performance demonstrates the attractiveness of our solutions for our customers, who recognize a unique value proposition in line with the challenges of the ecological transition in industry. We are proud to reach an inflection point today that should allow Roctool to enter a profitable growth cycle, addressing increasingly diversified prestigious customers."

Consolidated data (in k€)	2022*	2021	∆	2020	∆ vs22
Revenues	9 356	8 236	14%	6 505	44%
EBITDA	(146)	197	-	(1 658)	91%
EBIT (operating result)	(108)	(638)	83%	(2 218)	95%
Net result	(315)	(704)	55%	(2 601)	88%

• Status of the 2022 consolidated accounts: the audit procedures on the accounts have been completed and the auditors' audit report is in the process of being issued.

A solid business model

Roctool has continued its uninterrupted growth in activity for the past 3 years, which has enabled sales to reach 9 356 K€. It should be noted that the +14% growth masks a much stronger growth dynamic, with a significant breakthrough in sales of Roctool systems (+41% vs. 2021) and services (+44% vs. 2021) in combination with licenses and royalties.

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In 2022, the diversification of customers and sectors of activity addressed was further strengthened, reaching sectors at the cutting edge of innovation and in strong demand for industrial solutions that meet the major challenges of the ecological transition. Thus, Roctool addresses customers in the automotive (46%), consumer (19%) and beauty (11%) sectors, as well as other fields such as new energies. This wealth of activities guarantees Roctool a lesser sectoral exposure and strengthens its positioning with key accounts.

The gross margin remains at a high and stable level compared to 2021, even though the inflationary context, as well as the product mix, could have impacted the margin level. This level of margin demonstrates the strength of Roctool's business model, with strong operating leverage.

The strong growth in activity, combined with excellent control of the cost structure, has enabled the company to remain very close to breakeven, as expected. This slight decrease in Ebitda is explained by two factors. On the one hand, and mainly, essential recruitments have been made to structure and accompany the expected growth. Thus, Roctool has announced the recruitment of a Director of International Sales during 2022, who is in charge of accelerating the commercial dynamic. In addition, Roctool has increased its spending on technology promotion, in particular with participation in the largest plastics trade fair in Germany (K SHOW), which is held once every three years.

The Ebit improved significantly to -108 K€ vs -638 K€ in 2021, at a level close to the Ebitda, as the year 2022 did not result in the recognition of provisions as in 2021.

The net result improved by +389 K€ to -315 K€.

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Financial structure

On December 31, Roctool's equity capital stood at €2.3 million. The financial debt of €3.9 million includes Ornan-type financing, more than €2 million of PGE, as well as traditional bank financing with a maturity of more than one year and fixed rates that allow the control of the debt structure.

Cash and cash equivalents as of December 31 stood at €0.8 million, representing a low point linked to the end-of-year activity with, in particular, some delayed customer payments. It should be noted that at January 15, 2023, cash and cash equivalents will return to a normal level of €1.5 million.

3 essential activities strengthened in 2022 for a solid outlook

In addition to the growth of its historical segments, Roctool has strengthened its partnership relations on 3 essential activities in 2022 to continue its development in the years to come on strategic segments, with eco-responsibility as a priority:

• A growing global partnership with Standex Engraving, the leader in mold texturing: a unique technological combination with Roctool technology to eliminate paints or propose the functional surfaces of tomorrow.
• The first projects in hydrogen with Freudenberg e-PowerSystems, to develop innovative processes for the manufacture of fuel cells.
• The development of new eco-responsiblesolar panels in 2D and 3D, in active collaboration with the CEA and INES.

Roctool has a solid base from which to confirm its ambition to become the leading supplier of eco-responsible molding technologies. Thanks to the activity recorded at the beginning of this year and the development of promising sectors, Roctool is aiming for a profitable growth trajectory.

Contact press / Investor relations

Aelium Advisors

Madina TALL

[phone] [e-mail]

About Roctool: Roctool, specializes in rapid heat and cool technologies for plastic injection and composite molding. The processes developed by

Roctool are in production in the following industries: automotive, electronics, consumer products, renewable energy, beauty packaging and medical. Roctool is an induction molding technology, working with plastic and composite including recycled materials. Roctool offers Engineering services, induction generators, tooling hardware and on-site support to manufacturers around the globe. Roctool technologies are well known for removing secondary operations which enable manufacturers to reduce the overall cost of the parts produced, as well as their environmental impact. Headquarters are found in Le Bourget-du-Lac (France), Roctool is present in the USA, China, Japan and Germany.

For more information: www.roctool.com

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