Esi Group: on track to achieve the objectives of the OneESI 2024 plan


(Boursier.com) — For 2022, the annual turnover ofEsi-Group at current scope is 133.9 million euros, up +1% compared to the previous year (+0.1% at constant exchange rates). The growth in annual turnover is in line with forecasts: 129.7 ME, or +3% at current exchange rates (+2.1% at constant exchange rates).

Annual recurring revenue (ARR) is more than €100 million, up +7.4% at current exchange rates (+6.5% at constant exchange rates).

Adjusted EBIT increased by 75.1% compared to the previous year, with an adjusted EBIT margin of 11.6% (6.8% in 2021).

The net result is a profit of +15.4 ME in 2022.

ESI Group achieves the main milestones of the OneESI 2024 plan and achieves solid results in 2022. The group has made significant progress on its strategic plan, in line with the objectives announced for fiscal year 2022. The group’s ability to consistently meet its long-term commitments has been demonstrated in particular by a remarkable 7.4% increase in its recurring revenue. This growth reflects a focus on recurring software revenue which was largely highlighted in the OneESI 2024 plan. The Group succeeded in increasing its recurring revenue to 100.6 ME (93.7 ME in 2021), marking a substantial step forward. In addition, ESI Group achieved its turnover objectives, with growth in line with the objectives communicated to the market (between 2% and 4%) for a total turnover of 129.7 ME. The group’s focus on its licensing business has also paid off, now accounting for 85% of the company’s overall business (83.2% in FY21).

Solid financial position

In 2022, ESI Group continued to demonstrate its ability to improve its financial situation. ESI Group controlled its costs thanks to a better allocation of resources and reduced its net financial debt from -12.5 ME in 2021 to -7.3 ME in 2022 with a higher repayment of bank loans (8.5 ME in 2022 against 5.3 ME in 2021).
The Group increased its cash position at the end of the year from 30.3 ME to 41.6 ME, which includes the positive impact of the disposal of the CFD business (+20 ME in cash) announced in July 2022 and the payment of group restructuring charges related to its departure plan (approximately €7 million in 2022 compared to €1.7 million in 2021).
Gearing improved significantly (net financial debt/equity) from 17.2% in 2021 to -8% in 2022.

Esi Group confirms its guidance for the 2023 financial year.



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