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Consolidated income statement LOGIC INSTRUMENT
|
Consolidated Income Statement in K€ |
31/12/2022 |
31/12/2021 |
VAR° in K€ |
VAR° in % |
Turnover | 9,916 | 7,880 |
2,036 |
26% |
Purchase cost of products sold | 6,909 | 5,537 |
1,372 |
25% |
|
Gross margin |
3,007 |
2,343 |
664 |
28% |
|
Gross Margin Rate |
30.3% |
29.7% | ||
|
Other income (reversals of provisions and transfers) |
136 |
75 |
61 | NS |
Exploitation charges | 3,328 | 3,047 |
281 |
9% |
|
Operating result |
(185) |
(629) |
444 | NS |
bottom line | (48) | (10) | (38) | NS |
exceptional result |
246 |
36 |
210 | NS |
IS | 11 | (245) | 256 | NS |
|
Consolidated net income |
24 |
(848) |
872 | NS |
The consolidated turnover of LOGIC INSTRUMENT is up 26% compared to 2021. This increase is the result of the gradual recovery of the activities of its customers, particularly in Germany and for export (customers in the USA and Turkey).
The gross margin was €3.0 million, the margin rate was up by 0.6 points.
Operating expenses increased by €0.28 million. This change is mainly due to the increase in other purchases and external charges (+€0.12 million) relating in particular to the increase in transport costs and other charges (+0.14) relating to losses on receivables (compensated by reversals of provisions in other income).
Operating income improved by +€0.4 million. The exceptional result amounts to +0.24 M€ and corresponds for 0.15 M€ to the proceeds of the cancellation of an old Coface export debt (contract of 2015) and for 0.09 M€ to the Covid cost subsidies of 2021 in Germany.
The Group posted a positive net result of €0.02 million in 2022 compared to a loss of €0.84 million in 2021.
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LOGIC INSTRUMENT Simplified Consolidated Balance Sheet as of 12/31/2022
|
ASSETS BALANCE SHEET in K€ |
31/12/2022 |
31/12/2021 |
VAR |
VAR % |
R&D | 0 | 0 | 0 | NS |
Other real estate assets | 182 | 121 | 62 | 51% |
Stock | 2,124 | 1,462 | 662 | 45% |
Advances and deposits | 213 | 225 | (11) | (5%) |
Receivables | 664 | 558 | 106 | 19% |
Other receivables and deferred taxes | 94 | 35 | 59 | 167% |
Availability | 3,997 | 5,184 | (1,187) | (23%) |
CCA & ECA | 186 | 25 | 161 | 651% |
|
Total |
7,461 |
7,609 |
(148) | (2%) |
|
LIABILITIES BALANCE SHEET in K€ |
31/12/2022 |
31/12/2021 |
VAR |
VAR % |
EQUITY | 4,515 | 5,357 | (842) | NS |
Result | 24 | -845 | 869 | NS |
Prov° Risks & Charges | 76 | 61 | 14 | 23% |
Loans | 1,167 | 1,449 | (283) | (19%) |
Discoveries | 0 | 0 | 0 | N / A |
Payables | 550 | 374 | 177 | 47% |
Social and tax debts | 470 | 458 | 12 | 3% |
Other debts and PCA | 660 | 755 | (95) | (13%) |
|
Total |
7,461 |
7,609 |
(148) | (2%) |
The main change elements are as follows:
Inventory
Increase of €0.7 million linked to receipt of new products.
2.Cash
The group’s cash is down by €1.2 million, mainly due to the impact on WCR of the growth in activity (-€0.9 million) and the repayment of loans.
Outlook 2022
As of December 31, 2022, the group posted a healthy balance sheet and managed to limit the impacts of the COVID 19 pandemic. The geopolitical context is favorable to the Group’s activities in the defense sector with an increase in investment budgets in Europe with in particular a major project in Germany which will be invoiced in the first half of 2023. The Group has been in discussions since the end of 2022 with Glacier Computers for the acquisition of this company located in the Boston region in the USA.
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About LOGIC INSTRUMENT
Founded in 1987, LOGIC INSTRUMENT develops and markets tablets, smartphones and laptops intended for hostile environments and the business world, under the Google Android and Microsoft Windows operating systems. LOGIC INSTRUMENT operates on all continents. LOGIC INSTRUMENT is listed on Alternext Paris (ALLOG).
Website: www.logic?instrument.com
Investor relations: Loïc Poirier, [email protected]
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Regulated information:
Inside information:
– Press release on accounts, results
Full and original press release in PDF format:
https://www.actusnews.com/news/78804-cp-logic-instrument-resultats-exercise-2022-publication-6-mars-2023.pdf
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