(Boursier.com) — METALLIANCE, a subsidiary of the GAUSSIN Group specializing in the study and production of industrial equipment and mobile machinery, announces that it has approved the annual financial statements closed on December 31, 2022. METALLIANCE achieved a figure of business of 44.2 ME in 2022 compared to 33 ME at December 31, 2021, an increase of +34%.
The increase in activity results in particular from the increase in subcontracting for SA GAUSSIN, amounting to 7,431 K, and from underground activity.
Ebitda decreased by 32%, impacted by rising production costs due to the increase in the price of raw materials and components of around 5% to 40% depending on the type and origin. The start of the war in Ukraine had repercussions on the Group’s activity, with certain resources impacted having caused blockages in the production chain. Margins were also impacted by the increase in the Transport item, in particular Sea freight, the rise of which was exceptional, raw materials and energy. The decrease in EBITDA is also explained by one-off costs related to the start-up of new production capacities.
EBITDA thus went from +2 ME to 1.3 ME, or 3% of sales. The operating result amounts to 320 KE.
After taking into account allocations and operating reversals, i.e. a little over one million euros in 2022, operating income amounts to +320 KE, down 33%, since it was +476 KE as of December 31, 2021.
In this context, the net result decreased to 43 KE, against 458 KE in 2021.
METALLIANCE had cash of €4.1 million as of December 31, 2022, down €3.3 million compared to December 31, 2021 due to the increase in activity and the need for working capital, including stored production which goes from 3.4 ME to 6.2 ME.
Equity of METALLIANCE
The company increased its reserves by 8% in 2022, bringing its equity to 11.04 ME in 2022, compared to 10.99 ME in 2021. They remain higher than the amount of financial debt. The amount of the reimbursement of the PGE represents at 31/12/2022 16% of the initial debt.
METALLIANCE has also just carried out a capital increase reserved for the benefit of the company GHR, a subsidiary of the GAUSSIN group, for a total gross amount of 2.5 ME aimed at increasing its equity and financing the need for working capital.
METALLIANCE’s (non-consolidated) backlog is up, at more than EUR103m as of March 31, 2023, not including quasi-firm and subscriptions. It is driven in particular by the subcontracting activity on behalf of GAUSSIN. The underground works activity represents more than a quarter of the order book.
Outlook for 2023: a strong industrial ramp-up
METALLIANCE is experiencing strong industrial growth, driven by the operation of the new industrial site of 28,000 m2 leased in Saint-Vallier and dedicated to the assembly of ATM and APM vehicles of the GAUSSIN group.
The primary objective is to increase the production of vehicles destined for North America. These production lines will make it possible to integrate a supply chain and assembly lines modernized and sized for the production of 800 to 1,000 electric vehicles per year. The site will eventually be able to reach a production capacity of 1,600 vehicles per year, with 8 production lines that can manufacture 200 vehicles each.
This industrial ramp-up is part of the factory of the future project with a desire for continuous improvement through digital transformation and operational excellence. Sensitive to environmental issues, the company plans in particular to pursue ISO 14001 level 2 certification for 2023, after obtaining level 1 in 2022, with an energy optimization project.
Beyond this activity on behalf of GAUSSIN, forecasts for its traditional products are also growing. The company continues its development with the delivery of vehicles intended for the logistics for tunnels under construction, and this all over the world: in Australia, in South-East Asia, in North America and of course in Eastern Europe. West, following contracts announced in 2022.
Here too, electric vehicle technology continues to develop and is gaining ground over diesel vehicles.
The modernization and securing of the IT tools of the GAUSSIN group, in particular through the One Gaussin project which aims to start the ERP SAGE X3 no later than January 2024, should benefit METALLIANCE in particular for the optimization of the supply chain and promote the synergies of the company within the group.
Finally, the company has adapted its 2023 catalog sales prices to the evolution of inflation and component costs with the objective of increasing the gross margin and improving profitability.
Post closing events
Appointment of Sophie Burcklen to the Board of Directors of METALLIANCE. The company announced the appointment of Sophie Burcklen to its Board of Directors. She joins the other directors: Christophe Gaussin, Brice Chambard, Jean-Paul Meunier and Jean-Claude Cothenet, who chairs the Board. She will bring to the Board of Directors an excellent understanding and experience of the IT and technological challenges facing companies today as well as best practices on the expectations and role of the Board of Directors and CSRD (Corporate Sustainability) issues. Reporting Directive) to come.
Capital increase of 2.5 million euros. This capital increase reserved for the benefit of the company GHR (subsidiary of the GAUSSIN group) for a total gross amount of €2.5 million aims to finance the company’s working capital requirement. It increases the company’s equity while strengthening its cash flow.
Upcoming meetings
– Publication of the 2022 results of the GAUSSIN group: April 27, 2023
– METALLIANCE Centenary (ATM North America production line visit and vehicle demonstration): June 16, 2023
-GAUSSIN Open Day: June 17, 2023.