(Boursier.com) — For the entire 2020/21 financial year, the Group Omer Decugis posted an annual turnover of 137.6 million euros, up 15.% compared to the previous financial year (+13.9% in organic growth) representing more than 119,000 tonnes of fruit and vegetables delivered. Despite the impact of the health crisis on the out-of-home catering segment, the Group recorded sustained and consistent growth in its two business segments (SIIM, Bratigny) as well as in all product ranges.
The Group’s gross margin amounted to 20.2 ME over the financial year, i.e. a margin rate of 14.7%, an improvement of 0.7 points thanks to the end of the use of subcontracting via the complete internalization of ripening and packaging activities on the new platform and the margin gains generated on the strategic BAMA segment (Bananas, Pineapples, Mangoes & Avocados).
Current EBITDA is profitable at -3.4 ME, a strong improvement of +45.8% compared to the previous financial year. The Group’s current EBITDA margin rate increased to +2.5% as of September 30, 2021 in line with the increase in gross margin, productivity gains from new ripening and storage capacities as well as management stringent operating expenses.
The Group’s consolidated operating income was €1.4 million at September 30, 2021 (€1.1 million the previous year).
The Group’s net income for the 2020/21 financial year, at €1.1 million, is down very slightly compared to the previous financial year, which had benefited from a full reversal of the negative goodwill generated during the the acquisition of Coicault-Thomas (+0.7 ME).
Financial structure
The financial structure is solid. It is reinforced by the success of the IPO. The Group’s gross cash flow amounted to €2.7 million (€1.2 million at September 30, 2020).
The change in Working Capital Requirement over the financial year amounts to +5.3 ME, due to the very strong growth in turnover recorded in the last quarter of 2020/21 (+31%) not yet recovered as of September 30, 2021 and the increase in inventories, including those in transit.
The initial public offering carried out during the second half of the year made it possible to strengthen the Group’s shareholders’ equity, which amounted to 31.5 ME (12.4 ME a year earlier) and available cash to 18.3 ME (2. 8 ME to September 30, 2020). With gross financial debt of 17.2 ME including the total financing of its new platform, Omer-Decugis & Cie has at September 30, 2021 a positive net financial debt of 1.1 ME against a negative net financial debt of 11. 4 ME to September 30, 2020.
The Omer-Decugis & Cie group thus has the financial means to pursue its strategy of balanced growth, combining economic performance, sustainable agriculture and social and environmental responsibility.
Proposal of a dividend of 0.035 E per share
In accordance with its commitments, Omer-Decugis & Cie will propose to the Group’s General Meeting of Shareholders on March 22, 2022, the payment of a dividend of €0.035 per share for the financial year ended September 30, 2021.