(Boursier.com) — The Group Aegisa global specialist in hermetic enclosures and heat dissipation solutions for sensitive electronic components, today announces its 2023 results. The results for the 2023 financial year mark, in accordance with Egide’s business plan, an increase in turnover ( +8.6%), which stands at 36.7 million euros and an improvement in operational profitability, as well as in net income, group share.
The main financial indicators below illustrate the recovery of the Egide Group:
-Growth of activity:
The 2023 consolidated turnover of the Egide Group increased by 8.6% compared to 2022 to stand at €36.75 million. This progression marks a record level since 2003, driven mainly by North America and Europe.
-Improved profitability:
Thanks to rigorous management and targeted strategic initiatives (recovery plan for American subsidiaries), the Group recorded a significant reduction in its losses in 2023:
The net consolidated loss was reduced by 45% from 5.6 ME in 2022 to 3.1 ME in 2023.
The operating loss was significantly reduced from 4.3 MEUR in 2022 to 2.1 ME in 2023.
EBITDA is slightly positive at 0.1 ME in 2023 compared to a loss of 1.6 ME in 2022.
The auditors’ reports are expected by the end of May 2024. The figures presented below are therefore unaudited but were presented to the board of directors which met on April 29, 2024.
These results, although provisional (pending the finalization of the audits), demonstrate the effectiveness of the recovery strategies implemented since 2023 by the Group.
The 2023 consolidated turnover of the Egide Group therefore stood at €36.7 million, up 8.6% compared to 2022.
This 2.9 ME increase in annual turnover comes from Egide SA (+2 ME, or +13%) and Egide USA (+2 ME, or +21%), offset by Santier (-1.1 ME , or -13%). The Euro/Dollar parity is unfavorable since at a constant dollar the 2023 turnover would have been higher by 0.5 ME at 37.26 ME.
The results for the 2023 financial year mark, in accordance with Egide’s business plan:
*a strong improvement in operational profitability with *an operational loss which decreases by 51% from 4.3 ME in 2022 to 2.1 ME in 2023
*A balanced EBITDA in 2023, compared to a negative EBITDA of 1.6 ME in 2022
*as well as the group’s net loss which decreases by 45% from 5.6 ME in 2022 to 3.1 ME in 2023
Shareholders’ equity as of December 31, 2023 amounts to 7 ME compared to 6.5 ME as of December 31, 2022, an increase of 0.5 ME (+7.7%). This increase of 0.5 ME comes from a 3.6 ME capital increase offset by a 3.1 ME net loss.
Among assets, cash increases by 2.1 ME while fixed assets decrease by 0.6 ME and inventories by 1.4 ME.
Net financial debt (financial debt net of cash) decreased from 8.5 ME in 2002 to 6 ME in 2023.
Outlook 2024
In 2024, the Egide Group intends to maintain its trajectory of commercial development and profitability with the following objectives:
Maintaining consolidated turnover at a stable level with growth in the activities of subsidiaries in the United States which should compensate for the anticipated decline in Egide SA’s activities, due to geopolitical factors.
Continuation of the implementation of commercial strategies, in particular by expanding its range of products (thermal batteries, ignition devices) in the military sector and by exploring new promising geographic markets in order to diversify its customer portfolio.
Continued improvement in the profitability of American subsidiaries and optimization of the Group’s operations in the United States
Maintaining the group’s profitability at a level equivalent to that of 2023.
Careful study of all options to meet its working capital needs and its investment projects.
FINANCIAL CALENDAR
Annual Financial Report: Dissemination planned before the end of May
General Meeting: June 27, 2024
Half-year turnover: July 16, 2024.