Egide: 2022 Revenue
Bollène, January 26, 2023 - 06 :00 pm
(CET)Press Release
2022
REVENUE
- Turnover
2022:
€33.81
million (+
4%)
- Egide SA: +8.9% to €15.46 million,
driven by its leading position in the thermal imaging market in
Europe, Asia, and the Middle East.
- Egide USA: -16.9% to 9.62 M€,
impacted by manufacturing delays due to supply chain and staffing
difficulties.
- Santier: -3.1% to €8.73 million,
experienced in 2022 the same difficulties as Egide USA.
- Outlooks
- Confidence in the level of activity
expected in 2023 thanks to:
- Improvement in activity in
2H2022,
- The bookings level for the three
business units,
- And the opportunities in its
various target markets.
- Backlog begins at over 60% of 2023
budget.
- New challenges: the soaring energy
and raw material prices.
Egide Group's unaudited consolidated revenue for
2022 was €33.81 million, up 4 % compared to 2021.The revenue of the
American entities represent 54 % of the group revenue.The
euro/dollar exchange rate is favorable, since on a constant dollar
basis, revenues in 2022 would be 2.2% lower.
- Egide
SA had a good year with 8.9% growth,
allowing it to be close to break-even again despite inflation,
which disrupted budgeted balances and required price increase
negotiations with customers. This growth is explained thanks to its
strategy of strengthening its leadership position in the thermal
imaging market for the defense and surveillance sectors in Europe
(notably with the acquisition of new customers), Asia (China and
South Korea) and the Middle East. The entity has continued and even
accelerated its industrial transformation plan (Industry 4.0).
- Egide
USA is down 16.9% in USD compared to 2021. After a
year 2021 affected in Cambridge by delays in the installation of
the new plating line ("after fire"), 2022 was disrupted by
manufacturing delays due to supply chain and staffing difficulties,
whereas the backlog would have helped to do better than 2020.
- Santier is down
3.1% in USD. The California subsidiary is experiencing the same
supply and staffing difficulties as Egide USA in 2022, which have
also led to manufacturing and delivery delays.
|
Millions of euros |
FY 2021 |
FY 2022* |
YoY Var.% |
Comp. Var. %** |
|
Egide SA |
14.19 |
15.46 |
+8.9 % |
+8.9% |
|
Egide USA |
10.32 |
9.62 |
- 6.5 % |
-16.7% |
|
Santier |
8.03 |
8.73 |
+ 8.8 % |
-3.1% |
|
Group |
32.54 |
33.81 |
+4 % |
-2.1% |
* Unaudited ** at constant exchange rates
|
Millions of euros |
FY 2021 |
FY 2021* |
Variation % |
|
USA |
16.38 |
16.08 |
- 1.6 % |
|
Europe |
9.92 |
8.98 |
-9.5 % |
|
Asia & ROW |
6.23 |
8.75 |
+40.4% |
|
Group |
32.54 |
33.81 |
+4% |
* Unaudited
For information, the average euro/dollar
exchange rate in 2022 is favorable at 1.05 versus 1.18 in 2021.
REVENUE PER APPLICATION
|
Millions of
euros |
H2 2021 |
H1 2022 |
H2
2022* |
H2/H1 Var.% |
H2/H2 Var.% |
FY 2021 |
FY
2022* |
Var. % |
|
Therm. imaging. |
5.33 |
5.91 |
5.94 |
+11.4% |
+0.4% |
11.22 |
11.85 |
+5.6% |
|
Power |
4.06 |
3.02 |
3.95 |
-2.6% |
+31.0% |
8.43 |
6.97 |
-17.3% |
|
Optronics |
2.47 |
2.19 |
2.45 |
-0.8% |
+11.9% |
4.44 |
4.63 |
+4.3% |
|
RF/MW |
1.93 |
2.90 |
3.26 |
+68.6% |
+12.2% |
4.28 |
6.16 |
+44.1% |
|
Others |
2.13 |
2.00 |
2.20 |
+3.4% |
+10.1% |
4.13 |
4.20 |
+1.5% |
|
Group |
15.92 |
16.02 |
17.79 |
+11.8% |
+11.1% |
32.50 |
33.81 |
+4.0% |
* Unaudited
Thermal Imaging In Thermal
Imaging application, the level of activity remained stable and
strong with a growth of 5.6% compared to previous year. The volume
of smaller customers compensated the decline of our main historical
customer in France. In the US, the company continues to develop its
relationships with key customers supporting the defense market,
although qualification of new programs takes time to materialize
into significant revenue.
PowerA significant portion of
the Power business is manufactured in Cambridge and was affected by
the difficulties explained above. In H2, there is rebound to normal
activity levels. In addition, the company has been qualified on
several thermal battery programs with two key customers. Additional
revenue is expected due to the current geopolitical situation in
eastern Europe and Asia.
OptronicsOptronics grew 4,3%
essentially in France in the aerospace industry. Santier has
benefited from incorporating its thermal management materials into
package assemblies for key laser manufacturers. Cambridge is using
its HTCC process to work with legacy companies in this market.
RF/MWRF and Microwaves are
booming by 44,1%, driven at Egide SA with opportunities in Middle
East and Asia. Santier is seeing activity from tier I defense
contractors for several satellite programs.
Others As usual, there is no
real trend.
OUTLOOKSoaring energy and raw
material prices, with uncertain industrial and social consequences,
as well as the implementation of energy conservation, are
challenges that the Group must now face. However, the improvement
in activity in the second half of 2022, the total backlog of orders
for the company exceeding 60% of the 2023 budget, together with the
booking level of the three entities and expectations in its various
target markets, reflect the Group's growth potential and lead it to
be confident about the level of activity expected in 2023.
FINANCIAL CALENDAR
Aprile 19,
2023: 2022 financial results (after French market
closure)
April 20,
2023: SFAF Meeting Presentation of the 2022 Annual
Results
CONTACTS
EGIDE – Finance Department - Luc Ardon
- +33 4 90 30 35 94 –
luc.ardon@fr.egide-group.comFIN’EXTENSO – Press Relations -
Isabelle Aprile - +33 6 17 38 61 78 –
i.aprile@finextenso.fr
About EGIDE
- Keep up to date with all the Group's news
online: www.egide-group.com
and LinkedIn
Egide is a group with
an international dimension, specialized in the manufacture of
hermetic packages and heat dissipation solutions for sensitive
electronic components. It operates in cutting edge markets with
strong technology barriers to entry in all critical industry
segments (Thermal Imaging. Optronics. High-Frequency. Power
Units…). Egide is the only pure player in this market niche with
manufacturing bases in France and the United States.
EGIDE is listed Euronext Growth Paris™-
ISIN : FR0000072373 - Mnémo : ALGID
- Egide-PR-2022-FY-Revenue-EN-01262023
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