Sogeclair: results for the 1st half 2022
Blagnac, France, September 07th 2022 -5.35pm,
Montreal, Canada
RESULTS FOR THE 1st HALF 2022
Turnover = €67.16 M +14.3% (+11.0% at constants exchange rate and perimeter)
EBITDA (1) = €2.3 M (+26.1%)
Equity= €57.1 M (+3.4%)
SOGECLAIR, supplier of innovative solutions with high added value for a safer and less-consuming mobility announces today its financial results for the 1st half ended June 30th 2022.
The Board of Directors, meeting on September 05th 2022, closed the 1st semester accounts for 2022.
The limited examination procedures on the half-year accounts have been accomplished.
| In €M | H1 2022 | H1 2021 | H1 2022 / H1 2021 | |
| Turnover | 67.6 | 59.1 | +14.3% | |
| EBITDA(1) | 2.3 | 1.8 | +26.1% | |
| As % of turnover | 3.3% | 3.0% | ||
| Operating income | -1.3 | -2.0 | ||
| As % of turnover | -1.9% | -3.4% | ||
| Net result | -1.9 | -1.9 | ||
| Including group share | -0.9 | -1.5 |
(1) Operating income – other operating income and charges + amortization expenses and operating provisions
Highlights:
The first half of the year saw turnover growth of 14.3%, during which operating costs were impacted by items such as a loss of €1.2 million on large automotive simulators which are now in the process of being received, the transformation of the Savannah plant in the United States into a customer service center with the transfer of production to the Montreal unit, an increase in raw material costs whose impact was not immediate, as well as a strain on human resources issues which saw a reinforcement of the teams (+121 people on net).
By geographical area: within the framework of the ONE SOGECLAIR organization, the geographical areas, which are the main sources of operational decisions, are intended to serve our different Business Units by profession.
| Europe Africa | America | Asia Pacific | |
| Turnover | 52.8 | 11.7 | 3.0 |
| EBITDA | 3.0 | -1.5 | 0.2 |
| Operating income | 0.8 | -1.9 | 0.0 |
Differences are due to the holding company and rounding
By Business Unit:
| BU Engineering | BU Solutions | BU Conseil | |
| Turnover | 36.2 | 31.1 | 0.3 |
| EBITDA | 2.7 | -0.6 | -0.4 |
| Operating income | 2.2 | -3.0 | -0.3 |
Differences are due to the holding company and rounding
Commercial events and partnerships:
Business Unit Engineering (support activity for manufacturers in the development of their products, processes and product life cycle)
- Winning of the EMES3 referencing from Airbus (all entities) for 5 years,
- Strong involvement on the Dassault Falcon 10X (development and manufacturing engineering),
- First contract with the Boeing Group.
Business Unit Solutions (equipment manufacturer activity)
- After Renault in 2017 and Dassault Systèmes in 2021, UTAC-CERAM has joined the capital of AVSimulation (15%) in order to accelerate the development of vehicle testing in a virtual environment.
Business Unit Conseil (auditing, consulting and optimization of technologies and processes)
- Newly created activity in the aeronautic and space industry with manufacturers, equipment suppliers and their supply chain.
Perspectives
SOGECLAIR confirms its forecast of a double-digit increase in activity for the whole of the 2022 financial year. Profitability will be up significantly in the second half of the year, thanks in particular to the improvement in the Americas and the effect of the passing on of material costs.
The setting up of ONE SOGECLAIR plan, the investments and reorganizations that have resulted from it, reinforce the perspectives which aim for a doubling of turnover by 2030 (compared with 2021) and an EBITDA profitability of over 12%.
Next announcement: turnover for Q3 2022, on November 02nd 2022 after closing of the Stock Market
About Sogeclair
Supplier of innovative, high added-value solutions for safer and more efficient mobility, 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 service to all its customers.
SOGECLAIR is listed on Euronext Paris – Compartment C – Indice Euronext® Family Business -Code ISIN: FR0000065864 / (Reuters SCLR.PA – Bloomberg SOG.FP)
Contacts: Philippe ROBARDEY, President & CEO / Olivier PEDRON, Operating Chief Officer / +33(0)5 61 71 70 33
Press contact: Louise-Marie Thabard / SOGECLAIR Communication / / 0
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