Financial Results of 1
er
semester 2023
ARCHOS’ consolidated turnover for the first half of 2023 is up very sharply by 47% compared to the first half of 2022. Professional sales via Logic Instrument are fueling growth, in line with the group’s strategy announced is over 3 years old.
In this context, Logic Instrument recorded an 81% growth in its turnover in the first half. The start-ups of Medical Devices Venture are structured as expected, and the first sales will be observed in the second half of 2023.
|
Simplified income statement in M€ |
06/30/2023 |
06/30/2022 |
VAR in €m |
VAR in % | |||||
|
Turnover |
8.7 |
5.9 |
2.8 |
47% | |||||
|
Gross Margin (1) |
2.4 |
1.7 |
0.7 |
43% | |||||
|
Gross Margin in % |
27% |
28% |
– | ||||||
Operating expenses (2) | 2.75 | 3.34 | -0.58 |
-17% | |||||
|
Operating result |
-0.39 |
-1.69 |
1.3 |
– | |||||
Financial and exceptional items | -0.02 | 1.29 |
-1.3 | – | |||||
|
Consolidated net income |
-0.41 |
-0.40 |
– |
(1) Turnover – Purchases consumed + Production stored
(2) Including other operating income and amortization and changes in provisions
Gross margin amounted to €2.37 million compared to €1.65 million on 1
er
half of 2022. This marked improvement of 43% comes from a favorable professional sales mix.
The company continued to control its expenses and succeeded in a context of strong growth in reducing its expenses by 17%.
Operating income thus stands at (€0.4 million), up €1.3 million compared to the previous financial year.
After exceptional items and before minority interest, the consolidated net income is (€0.4 million) for the half-year.
|
Main Balance Sheet Items (M€) |
06/30/2023 |
31/12/2022 |
VAR° in K€ |
fixed assets | 1.2 | 0.8 | +0.4 |
Stock of finished products | 3.2 | 3.3 | (0.1) |
Receivables (customers & others) | 4.3 | 3.3 | +1.0 |
Availability | 10.3 | 12.0 | (1.7) |
Equity and Interest Min. | 1.7 | 0.0 | +1.7 |
European Investment Bank | 3.0 | 3.0 | – |
Financial debts | 2.7 | 4.0 | (1.3) |
Suppliers | 7.4 | 8.9 | (1.5) |
Tax and social security debts and provisions | 4.1 | 3.5 | +0.6 |
Major elements improving the financial solidity of the group:
Contained working capital requirement despite the very strong increase in turnover
Equity improved by €1.7m
Decrease in financial debt of €1.3 million
Logic Instrument: in hyper growth of 81%
An enriched Pro range
The company, manufacturer, integrator and distributor now offers a full range of mobile solutions covering rugged smartphones, tablets but also PCs designed for outdoor environments and in extreme conditions under operating systems adapted to the use cases.
A range of solutions responding to the geopolitical context
LOGIC INSTRUMENT, with many years of experience in the sector of solutions designed for defense, offers a capacity for customization, tailor-made products, and expertise in complex project management, in France and abroad.
Recognition of major accounts
Major European accounts recognize LOGIC INSTRUMENT as a qualified, historical partner, capable of maintaining parks installed over long periods of more than 5 years.
Medical Devices Venture, the group’s Medtech studio start-up is achieving concrete results less than two years after its creation:
DEXTRAIN: a post-stroke dexterity rehabilitation technology and neurocognitive pathologies, combining innovative sensors, software suites for therapeutic games and machine learning in rehabilitation centers or from the patient’s home;
POLADERME: innovative dermatological analysis solution combining spectro-polarimetry, AI and new biomarkers for objective analysis of skin lesions and vitality, usable from the patient’s home;
DOMISANTE: health gateway to support aging well at home and chronic illnesses integrating teleconsultation, taking constants, tele monitoring and tele monitoring;
MDV IT: designs and customizes innovative mobile solutions for healthcare establishments.
ARCHOS: new range of tablets
ARCHOS has recently renewed its range of tablets, mainly marketed in France. The price ranges offered are mainly between €100 including tax and €200 including tax in order to offer users performance and value for money in a refined Android version.
ARCHOS is also studying market segments related to tablets, such as connected objects, to enrich its offer from 2024.
Outlook 2023
The ARCHOS group is aiming for sustained growth for the 2023 financial year and to approach a break-even EBITDA.
In addition, the group does not rule out an external growth operation in the 2023 financial year in order to create the French leader in mobile solutions for outdoor missions but also in hostile environments.
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About ARCHOS
ARCHOS, an expert in mobile solutions, has constantly revolutionized this market both in the consumer electronics sector and in B to B with its subsidiary LOGIC INSTRUMENT. The French brand was the first to offer Google Android tablets in 2009. ARCHOS launched a MedTech division in 2021, Medical Devices Venture, which will bring together several start-ups. With a head office in France, offices in Europe and Asia, ARCHOS is asserting itself as a key pan-European player, listed on the Euronext Growth Paris market, ISIN Code: FR0014007XT1. www.archos.com
Contact Investors
Loïc Poirier – CEO – [email protected]
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