(Boursier.com) — Mersen achieved consolidated revenue of 269 million euros in the 2nd quarter of 2022, up sharply by 10% at constant scope and exchange rates compared to the 2nd quarter of 2021. Taking into account currency effects favorable conditions, sales grew by more than 16%.
Mersen achieved consolidated sales of 524 million euros in the first half of 2022, the highest ever achieved by the Group. Organic growth is 11.1% compared to the same period last year. Taking into account favorable exchange rate effects, growth was 16.3%.
The Group’s half-year current operating income amounted to 55 million euros in the first half of 2022, representing a current operating margin of 10.5% of revenue, up 90 points compared to the 1st half of 2021.
This increase is largely explained by the increase in volumes. The Group’s ability to increase prices during the half also made it possible to offset the increase in raw material and energy costs. On the other hand, productivity gains partly offset wage inflation.
EBITDA amounted to 86.9 million euros. It represents 16.6% of revenue, compared to 15.7% in the first half of 2021.
Net income for the period amounted to 38.2 million euros, compared to 27.1 million euros at June 30, 2021, an increase of 41%.
Mersen’s net financial expenses amounted to -5.3 million euros this semester, down slightly compared to the amount of last year, mainly thanks to the competitive financial conditions of the last USPP financing.
The tax charge amounted to 10.8 million euros for the half-year, representing an effective tax rate of 22%.
OUTLOOK
As announced in the July 20, 2022 press release, the Group has revised its outlook upwards and now forecasts for 2022:
– organic growth of between 8% and 10% (compared to 3% to 6% previously);
-a current operating margin of around 10.5% of sales (against around 10% previously);
-an EBITDA margin up by around 50 basis points (compared to +20-30 basis points previously);
– industrial investments between 85 and 90 million euros, in order to take into account the impact of exchange rates and inflation (compared to between 80 and 85 million euros previously).
During the second half, the Group will continue its policy of increasing prices to cover increases in the costs of energy and certain raw materials, in particular in the Advanced Materials division.