(Boursier.com) — 2CRSi now jumps 8.4% during the session, to 4.64 euros in a volume of 1% of capital exchanged. The stock is supported after the announcement of the signing of a memorandum of understanding worth more than $12 million over 5 years with a country in eastern Africa. The leader in the design and manufacture of high-performance energy-efficient computer servers has also set its new objectives for 2023-2024, a new milestone aiming for commercial acceleration for a turnover forecast at 150 million euros.
Remember that the General Assembly of November 30 decided to extend the 2023-2024 financial year of 2CRSi until June 30, 2024, i.e. on a duration of 16 months. This decision comes as the Group embarks on a new development cycle illustrated by a record order book, allowing it to calmly set new ambitions for growth and improvement in margins.
Following the refocusing carried out with the sale of the Boston distribution activity and the R&D efforts carried out in recent years, 2CRSi considers itself “in a strong position to take full advantage of the explosion in global demand for technological solutions dedicated to Artificial Intelligence (high-performance servers and hosted computing power) and in high value-added services.
In this context, order intake is accelerating so that the signed order book is at its highest ever.
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New ambitions
2CRSi therefore displays new ambitions supported by the solid visibility acquired on the market. The group is confident in its ability to generate a turnover of more than 150 ME for the 16-month interim financial yearwhich closes at the end of June 2024 with a Ebitda margin greater than 3% of turnover.
For the 12-month financial year 2025-2026, the Group has set itself the ambition of exceeding 300 ME in turnover. Achieving this ambition should be accompanied by a strong appreciation of the gross margin with objective targets an Ebitda margin greater than 12% of turnover.
Financial situation
At the end of January 2024, 2CRSi’s gross cash position stood at -0.2 ME (-2.6 ME at the end of February 2023 and -1.7 ME at the end of January 2023). “This cash flow situation is already improving with the collection of customer deposits committed on orders in the execution phase.” It will allow 2CRSI to meet its obligations over the next 12 months.
Total debt (including bank loans) stands at 13.7 ME at the end of January 2024, including 8.7 ME in bank loans excluding lease financing. The latter are mainly made up of PGEs subscribed since 2020. The portion due in less than one year on this debt amounts to 6.8 ME, including 3.7 ME on bank loans.
Furthermore, in order to meet the new financing needs associated with the current dynamic, in particular in the AI activity, and to seize all future commercial opportunities, 2CRSi is currently engaged in the search for new financing, the terms of which have not yet been decided.