Accounts approved by the Board of Directors on 31 March 2021. Audit procedures were performed on the consolidated financial statements. The Auditors' Report will be issued after finalisation of the procedures required in connection with the annual report's publication.
Annual results
U10 registered a very good performance in the second half compared with H1 2020 that was severely impacted by the closure of distributors.
On that basis, EBITDA for the second half alone reached €4.3 million or nearly the total amount for EBITDA for all of 2019, confirming the relevance of the digital transition carried out by U10 prior to the health crisis.
Despite this, a net loss was recorded for the year linked to the poor H1 performance and non- recurring expenses.
Working Capital Requirements decreased by €15.5 million, strengthening free cash flow.
Net debt has continued to decline, ending the year at €20.6 million. In the last two years, financial debt has thus been reduced by €33.8 million.
Short-termcash flow is positive at €12.9 million, based on net inflows of €30.7 million in the period.
Operating highlights
In January, U10 launched its B2B digital order management platform. This new tool, perfectly adapted to current needs for remote business functionalities, was particularly well-received.
In Europe, U10 has fully benefited from the continuing strength of demand for home products in the beginning of 2021.
U10 will not propose the distribution of a dividend at the Annual General Meeting to be held on 2 June 2021. Depending on the evolution of the health crisis, the company reserves the possibility of organising this meeting as a closed-door session.
U10: a Retail industry supplier for interior design and home decorations
Contact:
Next financial press release:
Patricia Michel - Finance Manager
H1 2021 revenue
Tel: +33 (0)4 37 64 47 85
21 July 2021 after the close of trading
finances@u10.fr
Euroclear : 7914 - ISIN Code FR0000079147 - Securities transferred to Euronext Growth on 6 August 2018
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U10 SA published this content on 31 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 March 2021 16:50:04 UTC.
As an international distribution provider, U10 Corp is engaged in a value-added generator skill by creating customized products and services lines in the home and personal equipment. The group's offer is based primarily on a positioning in the interior design and home accessories universe, on the form of trendy items adapted according to the seasons and marketed in large quantity in the mass market. The group's first feature lies in the design of range. A range is a line of end products coordinated around a theme, designed for presentation through a self-service corners concept in the distributors' stores. The group's activity is organized around 2 forms:
- Europe division (80.7% of net sales): complementary customized services provision to customers (design of the ranges and conditioning, linear implantation, regular visit of the outlets, etc.);
- Asia division (19.3%): on the international stage, the focus is on the ranges customizing and manufacturers monitoring.
Products are manufactured by subcontractors.
Net sales are distributed geographically as follows: France (79.8%), European Union (11.3%) and other (8.9%).
U10 CORP 
