Friday, May 5, 2023
2022 results:
Negative results in a context of strong investment
Turnover: 103,373 K€
Operating profit: -2,709 K€
Net income: -€2,424k
Net income Group share: -€2,417k
In K€ | 31/12/2022 | 31/12/2021 | Variation |
Group turnover | 103,373 | 99,611 | + 3.78% |
Group operating profit | – 2,709 | 3,472 | -178.02% |
|
Operating margin |
– 2.62% |
3.49% | |
Net profit | – 2,424 | 2,603 | – 193.12% |
Net income Group share | – 2,417 | 2,516 | – 196.06% |
|
Net margin |
-2.34% |
2.53% |
Since 2018, the AURES Group has clearly expressed its transformation ambition in order to support its customers in the digital migration of points of sale.
This then resulted in the start of the terminal activity (kiosks) then, in 2021, by the acquisition of two companies providing the design and development of software products.
In this context, the development of the Group’s 360 digital solution (which will make it possible to offer global solutions to the market by offering not only hardware but also digital application solutions) constitutes a strategic investment.
Thus, for the first time since its creation, the AURES Group records losses in 2022, attributable in large part to this investment as well as to the drop in the gross margin rate.
Turnover
As announced in its press release of February 24, 2023, the AURES Group recorded a slight increase in its annual turnover in 2022, in a global context where the crisis in electronic components and the difficulties of the supply chain have penalized all POS players.
Operating income
The Group’s operating profit was -€2,709,000, representing an operating margin rate of -2.62%.
This result is mainly impacted by:
the significant development costs related to the creation of the ETK middleware and the Group’s 360 digital solution for connection to customer ERPs;
the drop in the gross margin rate (46.14% versus 48.18% in 2021) which results not only from the strong variation in the average USD/€ exchange rate on purchases (+ 9.04% compared to the 2021 rate ) but also the increase in approach costs due to the shortage of components.
Net profit
The net result amounts to -€2,425k.
The financial result is – €159 K (+€390 K in 2021), and is also mainly impacted by the evolution of the foreign exchange market and the strong variation of the US dollar at the closing date.
The Group recorded a tax profit of €444,000.
Treasury
The cash position deteriorated during the financial year and the Group presents a net debt of 10.1 million euros against a positive net cash position of 3.7 million euros.
as of December 31, 2021.
This cyclical deterioration is mainly linked to a large volume of stored purchases due to difficulties in the supply chain.
The Board of Directors, meeting on May 5, 2023, reviewed and approved the 2022 annual accounts.
The auditors’ audit procedures on the consolidated financial statements are being finalized.
Outlook
The Group’s 360 digital solution has entered the beta phase before its mass marketing.
The initial feedback from pilot customers is very positive and confirms the relevance of the Group’s strategy.
Nevertheless, the evolution of the global economic situation, business failures, the persistence of uncertainties linked to inflation and the energy crisis are weighing on purchasing power and impacting, at the start of 2023, the retail sectors, i.e. a large proportion of the Group’s customers.
This is why in this difficult context, any forecast is risky.
The recovery of the Group’s activity should be gradual.
Next release
Announcement of 1st quarter 2023 revenue: May 10, 2023 after market close.
About AURES
Founded in 1989 and listed on Euronext Growth, AURES Technologies is an IT Developer and Manufacturer of hardware (POS, Mobile POS & KIOSK), digital and application solutions for all Point of Sale sectors.
The Group has a global presence, with headquarters in France, subsidiaries in the United Kingdom, Germany, Australia and the USA, Tunisia – as well as a network of partners, distributors and resellers established in more than 60 other countries. .
ISIN code: FR 0013183589
Financial information: Sabine De Vuyst
www.aures.com
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Inside information:
– Press release on accounts, results
Full and original press release in PDF format:
https://www.actusnews.com/news/79859-20230503-annonce-resultats-2022.pdf
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