(Boursier.com) — For the first half of 2023, Group Tera recorded a turnover of 7.1 million euros, a slight increase of +1.3% compared to the first half of 2022.
As of June 30, 2023, the profitability indicators were penalized by the persistent difficulties of Tera Control, overshadowing the good performance of the sensor activities and the two other laboratories. Ebitda stood at -393 kE at the end of June (137 kE as of June 30, 2022), impacted primarily by Tera Control.
After taking into account depreciation and provisions, the operating result stands at -848 kE (-347 kE last year). Following the integration of a financial result of -181 kE, a tax profit of 103 kE and an exceptional result of -13 kE, the Group net loss stands at -943 kE over the period (-165 kE as of June 30, 2022).
Financial situation
As of June 30, 2023, the group reports a solid cash position of 5.47 ME (2.48 ME as of December 31, 2022), reinforced by the completion of a total financing operation of 5 ME, in order to support the development of its high-potential activities, notably NextPM sensors and digital activity. This financing is made up of a reserved capital increase of 1.5 ME from Nextstage AM and the issue of convertible bonds for a total amount of 3.5 ME subscribed by Nextstage AM and funds managed by Vatel Capital, reference shareholders of the Group.
The Group continues to benefit from a favorable financial situation and sufficient visibility to pursue its strategy by capitalizing as much as possible on the favorable dynamics of its overall activity.
It is recalled that the Grenoble Commercial Court has declared the judicial liquidation of Tera Control, on September 20, 2023. Acquired in April 2021, the Tera Control laboratory, specialized in the chemical analysis of air quality, continued to generate substantial losses, with an EBE emerging as negative since the integration, in despite the significant investments made by Groupe Tera to improve synergies and operational functioning. Faced with this observation and the strong uncertainty regarding the possibilities of reversing this trend, the Group contacted the Grenoble Commercial Court, which declared the judicial liquidation of Tera Control on September 20. Tera Group will continue the development strategy of its laboratory activity without compromising the solidity of its financial structure in order to finance the expected profitable growth.
Outlook
The group is confident in its continued growth over the coming half-years in order to achieve the profitability objectives it has set. Groupe Tera will continue to develop all of its activities, placing emphasis on innovation and seizing potential external growth opportunities.
Tera Group will continue to develop its development partnerships and the distribution network of its sensors. The group will also benefit from the refocusing of its laboratory activity, which will enable it to achieve a significantly higher profitability profile. The Group’s 2024 consolidated accounts will therefore reflect a significant improvement in profitability.
Groupe Tera confirms its medium-term objective of achieving an Ebitda greater than 20%.