(AOF) – Egide has raised one million euros to complete the financing of the modernization investments of the Bollène plant (beyond the subsidies of the France Relance plan) and to start the deployment of certain solutions in the United States , notably in Cambridge (Maryland). This fundraising was carried out with Vatel Direct, Vatel Capital’s participatory bond financing platform.
The bonds subscribed show an annual interest rate of 8%. Reimbursement will be made monthly. The combination of principal and interest will give rise, for a subscription in the amount of 1,000 euros, to a gross monthly payment of 24.41 euros for 4 years.
On the other hand, Egide asked Banc of California for a 3-month extension of the maturity of all the outstandings of Egide USA Inc. and Santier Inc., in order to finalize the negotiations with Gibraltar Capital. At the same time, discussions are continuing with other asset-based lenders to ensure that the transaction can take place before the end of the year.
Also, Egide will keep the market informed of the situation.
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Growing market and price pressures
According to the SIA, global chip sales were $151.7 billion in the first quarter of 2022, up 23% year-on-year. Sales increased in all major regional markets and for all product categories. As global uncertainties, including the war in Ukraine and the health crisis, weigh on supply chains, demand for semiconductors continues to significantly outpace supply. Manufacturers Samsung and TSMC have announced that they will raise their prices, in a context where players in the sector have good leeway and benefit from increased bargaining power. However, wage increases and component prices could weigh on future performance.
Growth of the French market in value
According to the Gfk institute, the sector generated sales of 4.8 billion euros in 2021, up 2% compared to 2020. The product families that benefited from the best performance are in particular helmets and accessories as well as televisions. However, while the French consumer electronics market grew in value last year, it fell in terms of volumes (-2% with 51 million units sold). This trend can be explained by a move upmarket in products: Bluetooth speakers are more powerful or even televisions use more innovative technologies. Thus the development of technologies that improve image resolution (Oled, Qled, miniled) and the size of screens have caused an increase of more than 20% in the average price. Consumers are also looking for more sustainable products.