(AOF) – In the first half of 2022, Groupe Gorgé posted a net loss of 5.8 million euros against a profit of 0.3 million in the first half of 2021, penalized by discontinued activities and deferred taxes. Operating profit was 4.5 million, down 32%. Operating income reached 6.2 million, down 14%. Current Ebitda fell by 2% to 13.9 million, showing a margin on current Ebitda of 14.4% against 15.8% a year earlier. Turnover came to 96.6 million, up 7%.
The good performance of operations led the group to reiterate the outlook indicated at the start of the year: Groupe Gorgé had set itself the objective of growth in revenues from the Drones & Systems division between +10% and +20% in 2022 and the maintenance of a good level of profitability. Furthermore, for the Engineering & Protection Systems division, the group is still aiming to continue the current trajectory.
The 2022 income statement will however be transformed by the merger operation with iXblue.
Groupe Gorgé announced in March the merger operation between ECA Group and iXblue in order to create a world-leading player in cutting-edge technologies for critical applications, in particular defence, space and maritime operations.
The ECA Group-iXblue combination aims to achieve a turnover of more than 500 million euros and an EBITDA margin of around 25% by 2025-2026.
The last foreign administrative authorization has been obtained and the closing of the operation should take place at the end of September, in accordance with the schedule.
AOF – LEARN MORE
Negotiations with builders
On average, equipment manufacturers represent between 60 and 85% of the manufacturing cost of a vehicle. According to the Federation of Vehicle Equipment Industries (Fiev), negotiations are very tense with manufacturers regarding the passing on of increased costs. The price increases concern both electronic components, raw materials, such as steel, nickel, lithium or palladium, energy and transport. Equipment manufacturers mainly negotiate with Stellantis and Renault to set up indices to pass on increases. They are also betting on innovation, differentiation, upgrading and internationalization.
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.
Great prospects with green hydrogen for the electricity sector
The French hydrogen plan of 7 billion euros, which has been increased to 9 billion, aims to develop an industrial sector for the production of low-carbon hydrogen. Gimélec, the group of companies in the digital electronics sector in France, has identified strong benefits for manufacturers of electrical equipment. For its members, the economic benefits are estimated at 10 billion euros by 2030, then an additional 20 billion for the period 2030 to 2040, mainly for the sector of manufacturers of digital electronic equipment (from transformers to control systems ). This will lead to massive recruitment, in particular in the areas where hydrogen development efforts will be concentrated, in the Mediterranean and in the Seine Valley.