Groupe Gorgé carried out at 3
th
quarter a growth of +22% in its turnover, accelerating after an increase of +7% in the 1
er
semester. Order intake for the quarter is also well oriented in all areas of activity, bringing the total for the first nine months of the year to €77 million (+77%).
Due to the announcement on October 24 of the project to simplify activities, which will be submitted to the shareholders’ vote on December 8, the Engineering & Protection Systems division is now classified as activities intended for sale and its contribution is restated from turnover, including in the history
1
.
At the end of the 3
th
quarter, Groupe Gorgé finalized the acquisition of iXblue, which will be consolidated from the 4
th
trimester. This publication of 3
th
quarter thus presents only the activities within the consolidated perimeter until September 30 (therefore only the Drones & Systems division). Groupe Gorgé’s publication is thus refocused on high-tech critical systems, particularly in the field of autonomous robotics.
Performance of 3
th
quarter of 2022 and the first 9 months of 2022
|
(in millions of euros) |
T3 |
T3 |
variation |
9 months |
9 months |
variation |
Order taking | 9.8 | 15.1 | +53.3% | 43.3 | 76.7 | +77.2% |
Turnover | 23.2 | 28.2 | +21.6% | 81.9 | 91.1 | +11.2% |
Backlog | 500 | 475 | -5% | – | – | – |
Sustained commercial activity: +53% order intake on 3
th
trimester
The Drones & Systems division continued its dynamic order intake despite the traditionally less active months of July and August. Thanks to the €15 million in new orders signed on 3
th
quarter (+53% compared to last year),
the group brings the total order intake this year to €77 million, an increase of +77%.
This performance is all the more notable in that it does not include any major drone systems contract.
Half of the order intake this quarter includes additional orders within existing contracts, including the maintenance of the previous demining system deployed by the group several decades ago (the PAP drone). The other half concerns orders for equipment or services with high added value resulting from technologies developed for drone systems (on-board equipment, naval architecture, piloting and energy conversion).
The order book therefore remains at a high level of €475 million, i.e. more than 3 years of revenue
. This significant amount does not include future additional orders for systems that will be delivered in the coming years (maintenance contracts, purchases of consumables, spare parts, additional options, etc.).
The good performance for the quarter is a good illustration of the group’s revenue generation business model, based on its complete mastery of the technological and industrial value chain:
Deploy complex drone systems through major programs over several years,
Maintain these systems in long-term operational conditions, thus generating recurring revenue,
Promote innovative components and products integrated into our systems to generate additional revenue.
Revenue growth of +22% this quarter
The increase in revenue for the quarter is driven by all of the group’s business areas, with:
-
+22% growth in naval and maritime activities (more than 70% of revenues).
This performance is driven first by the contribution of the contract with the Belgian and Dutch navies, significantly higher in the third quarter of 2022 than in the third quarter of 2021 (+19%). The other programs relating to drone systems (such as that of the Latvian Navy) as well as the supply of naval equipment are also on the rise.
-
+21% achieved in on-board equipment and related solutions for the aerospace sector (c.20% of revenues).
This dynamism is the result of the recovery in air traffic and the sustained commercial activity of previous quarters, which led to the signing of significant contracts, in particular with Airbus. These successes are notably due to the reliability and technical performance of the group’s products, such as the Elite range of distress beacons.
-
+17% in other activities, particularly industrial
(less than 10% of income). This segment, whose activities had slowed down in the second half of last year, remains at the level of previous quarters.
ECA Group and iXblue join forces and become Exail
Following the acquisition of iXblue by Groupe Gorgé at the end of September, ECA Group, a subsidiary of Groupe Gorgé, and iXblue have announced that the two companies will operate under a new common brand: Exail. With this alliance, Exail becomes a world industrial champion of high technology specialized in robotics, maritime navigation, aerospace and photonics.
This announcement took place on the occasion of the Euronaval show, during which the Exail teams received more than 100 official delegations from different countries around the world in order to present them with the new group’s high-performance products and systems.
Link to the presentation video of the new group
Strategic refocusing of activities: Groupe Gorgé plans to sell the Engineering & Protection Systems division and adopt a new identity, Exail Technologies
Groupe Gorgé announced on October 24 its plan to sell its Engineering & Protection Systems division to its main shareholder, the Gorgé family, for a value of the shares of €27 million, implying an enterprise value of €47 million. The group would thus increase its readability and would be focused on robotics and high-tech critical systems. On this occasion, Groupe Gorgé would be renamed Exail Technologies, to reflect the completion of its transformation. This sale project has been the subject of a report on the value of the division and on the fairness of the sale price by an independent expert and will be submitted for the approval of the shareholders during a Combined General Meeting which will take place on December 8, 2022.
More details on the operation are available in the dedicated press release (link).
About Groupe Gorgé
Groupe Gorgé is a high-tech industrial group driven by a strong entrepreneurial culture. The Group achieved a turnover of 178 million euros in 2021. It is present in autonomous robotics, engineering and protection systems and now employs nearly 2,000 people.
More information on www.groupe-gorge.com
Groupe Gorgé is listed on Euronext Paris Compartment B (GOE).
|
contacts: | ||
|
Investor Relations Hugo Soussan Such. +33 (0)1 44 77 94 86 [email protected] Claire Riffaud |
Media relations Manon Clairet Such. +33 (0)1 53 67 36 73 [email protected] |
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Full and original press release in PDF format:
https://www.actusnews.com/news/76922-cp_groupe-gorge_t3-2022_fr.pdf
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