AVENIR TELECOM: 2021-2022 results: record operating income for 5 years, cash at its highest level for 10 years, reconstituted equity and favorable outlook – 06/28/2022 at 18:00

Marseilles, June 28, 2022

. Avenir Telecom, designer and distributor of mobile phones and mobility accessories marketed under exclusive worldwide brand license

Energizer®

announces its 2021-2022 annual results (period from 1

^er

April 2021 to March 31, 2022) approved by the Board of Directors on June 27, 2022

[1]

.

As announced on the occasion of the publication of the annual turnover, Avenir Telecom has managed to reconcile strong growth and very good cost control in a yet complex macroeconomic environment (shortage of components and logistical difficulties in particular), to generate results in continuous progress with operating income and net income from continuing operations showing marked improvement compared to their levels for the 2020-2021 financial year and to 5-year highs.

Without being able to predict the evolution of the world economic situation today, the group has started this new financial year with serenity and is aiming for a new cycle of improvement in its results on the basis of the prospects offered by its core business around mobile phones and accessories. In addition, thanks to available cash of 25 million, the highest for 10 years, and a financing reserve of 10 million euros, Avenir Telecom is able to seize new development opportunities.

Half-year revenue multiplied by 2.7 and improvement in results excluding discontinued operations

Avenir Telecom achieved annual revenue of 43.8 million euros for the 2021-2022 financial year, i.e. a level of activity unequaled since the 2017-2018 financial year. This increase is the result of a 48% growth in billings from the sale of mobile phones and accessories (23.9 million euros) and the contribution of laptop computer sales (19.9 millions of euros).

Thanks to the perfect control of production and logistics costs and despite the absence of other products (in 2020-2021, Avenir Telecom had recognized 2.3 million products related to the renegotiation of the debt settlement plan), this growth led to an increase of 0.4 million euros in operating income.

Net income from continuing operations (-1.1 million) increased by €1.8 million in one year, thanks to the reduction in financial charges recognized under the line of financing and to financial interest received. After taking into account the result of discontinued activities (0.4 million euros), the net result amounts to -0.8 million euros.

Available cash of 25 million at the end of March 2022

Thanks to very sound financial management, Avenir Telecom reduced its cash flow from -4.2 million euros to -0.7 million in one year. At the same time, the use of the bond financing line set up in 2020 made it possible to raise 16.0 million euros. These additional resources made it possible to cover the increase in the working capital requirement mainly linked to the now discontinued activity of producing and selling laptop computers (+6.3 million) and to increase available cash by 8. 7 million euros.

As of March 31, 2022, Avenir Telecom thus had cash of 25.0 million euros for only 3.4 million in financial debt consisting of bonds converted since that date. The company also finalized the reconstitution of its shareholders’ equity which amounted to 14.3 million euros at the end of the financial year (-1.4 million a year earlier).

Beyond that, Avenir Telecom has residual capacity to use its financing line of up to €10.0 million over the next 12 months.

Favorable outlook for the core business and new investment projects

As announced on June 22, 2022, Avenir Telecom has decided to end its partnership in the field of portable computers, as it did not generate the expected synergies and prospects. The group is therefore now refocused on its core business, for which it sees prospects for growth in sales and continuous improvement in results. Above all, the financial leeway freed up allows the group to resume its analysis of investment opportunities according to the 3 complementary axes defined in the strategic plan (enrichment of the license portfolio, signature of industrial and commercial partnerships and equity investments).

As such, Avenir Telecom has just signed its entry into the capital of Cozy Air, an innovative and promising French start-up working in the field of indoor air quality (IAQ). Its multiple award-winning solution, combining connected air sensors and a control platform to improve indoor air quality, has already won over big names in the industry (Vinci Energies, Spie Facilities, Dalkia, etc.). Avenir Telecom becomes a minority shareholder within the framework of a maximum global fundraising, carried out with several partners, of 1.5 million euros and will be able to bring its industrial and logistical know-how to ensure the rise of the company. over the next few years.

”

The entry into the capital of Avenir Telecom represents real support for us in our current ramp-up. We are convinced that the human and professional values ​​shared between Cozy Air and Avenir Telecom will be a strategic asset in our growth.

says Lamia MIALET, CEO of Cozy Air.

Simplified governance

Finally, Avenir Telecom has decided to implement a simplification of its governance, in order to reflect the new configuration of the group and to gain in agility. Thus, the functions of Chairman of the Board of Directors and Chief Executive Officer are combined and entrusted to Robert Schiano. At the same time, the Board of Directors is reduced from 9 to 7 directors, including 3 women and 1 independent.

About

Future Telecom

The Avenir Telecom Group is a designer and distributor of mobile phones and mobility accessories marketed under an exclusive and worldwide brand license.

Energizer®

.

The products are currently present in more than 55 countries and more than half of the sales are made internationally. Avenir Telecom is listed on Euronext in Paris – compartment C (FR0013529815 – AVT). The Avenir Telecom share is part of the CAC Mid & Small and CAC Technology indices.

Press and Investor Contacts

Find all our financial information on

corporate.avenir-telecom.com

[1]

The audit procedures on the consolidated accounts have been carried out. The Universal Registration Document, including the annual financial report, will be made available to the public within the legal deadlines.

© Copyright Actusnews Wire

Receive the company’s next press releases free of charge by email by subscribing to www.actusnews.com