Egide: 2021 Revenue
Bollène, January 26, 2022 - 07 :00 am
(CET)Press Release
2021
Revenue
Despite the continued difficulties
resulting from the Covid pandemic, the Egide Group has continued
resiliency providing growth in 2021.
- Turnover 2021: €32.5
million (+ 8.6%)
- Egide SA confirmed its profitable
growth trajectory with turnover increase by 5.8%.
- Egide USA has recovered from the
industrial fire and despite delays in delivery of its new plating
shop, has turnover growth of 27.0% in 2021, lower than expected due
to key labor shortages of technical workforce.
- Santier had a slight decline in
turnover (-1.1% in $) in 2021.
- Outlook
- Yearly “book to bill” ratio is
essentially 1.0 with order entry acceleration in Q4 21: over 37% of
order intake occurred in Q4.
- An order book of €22 million, which
does not include additions for gold plating €1 million.
- Despite demand acceleration trend
which is suggesting revenue growth in 2022, labor shortages in the
US, and risks related to Covid-19 lingering crisis will need to be
overcome in 2022 in order to meet expectations.
Egide Group's unaudited consolidated revenue for
2021 was €32.54 million, up 8.6% compared to 2020. The revenue had
been impacted in H1-2021 by delays in the reconstruction of the
plating shop affected by the Cambridge fire. Financial year 2021
allows the Egide Group to confirm its growth dynamic and this
despite the difficulties linked to the health crisis which slowed
down the commercial activity. The growth could have been larger if
not for the labor shortages experienced in the US. Both technical
professionals and direct labor demand have not been fulfilled in
H2.
The sales of the American entities represent 56%
of the total sales of the group:
- Egide USA is up 31.7% in USD (+27%
in €) compared to 2020 (-3.8% over 2019). Industrial activity in
Cambridge was impacted in the early part of 2021 by delays in the
construction of the electroplating line due to the availability of
materials.
- Both Egide USA and Santier are
experiencing labor shortages. In addition to direct labor needs,
there are requirement for technical personnel. This constrained the
ability of the business units to deliver higher turnover in
2H21.
- Egide SA grew its revenue by 5.8%
compared to 2020. This was principally achieved by increased market
share in the night vision market segment outside Europe and ramping
projects in the defense sector that was resilient to the crisis.
Strategy to diversify has driven product mix towards higher
differentiation products.
Millions of euros |
|
FY 2020 |
FY
2021* |
YoY Var.% |
Comp. Var.%** |
Egide SA |
|
13.42 |
14.19 |
+5.8% |
+ 5.8% |
Egide USA |
|
8.13 |
10.32 |
+27.0% |
+31.7% |
Santier |
|
8.42 |
8.03 |
-4.6% |
- 1.1% |
Group |
|
29.96 |
32.54 |
+8.6% |
|
* unaudited** at constant exchange rates
Millions of euros |
FY 2020 |
FY
2021* |
Variation % |
USA |
14.60 |
16.38 |
+12.21 % |
Europe |
10.00 |
9.92 |
-0.67% |
Asia & ROW |
5.36 |
6.23 |
+16.30% |
Group |
29.96 |
32.54 |
+8.6% |
* unaudited
For information, the average euro/dollar
exchange rate in 2021 was 1.18 compared to 1.14 in 2020.
REVENUE PER
APPLICATION
Millions of Euros |
H2 2020 |
H1 2021 |
H2 2021* |
H2oH1 Var.% |
H2oH2 Var.% |
|
FY 2020 |
FY 2021* |
Var. % |
Therm.
imaging. |
4.97 |
5.89 |
5.33 |
-9.6% |
+7.2% |
|
9.43 |
11.22 |
+19.0% |
Power |
1.98 |
4.37 |
4.09 |
-6.3% |
+106.8% |
|
7.52 |
8.47 |
+12.6% |
Optronics |
2.17 |
1.98 |
2.47 |
+24.9% |
+13.6% |
|
4.30 |
4.44 |
+3.3% |
RF/MW |
1.55 |
2.34 |
1.93 |
-17.5% |
+24.4% |
|
4.96 |
4.28 |
-13.9% |
Others |
2.01 |
2.01 |
2.13 |
+5.9% |
+5.9% |
|
3.74 |
4.13 |
+10.6% |
Group |
12.69 |
16.59 |
15.95 |
-3.8% |
+25.7% |
|
29.96 |
32.54 |
+8.6% |
* Unaudited
Thermal ImagingThe group
enjoyed strong growth at 19% in the thermal imaging sector thanks
to addition of several new accounts and to Egide SA market share
gain in Asian countries. Egide USA’s largest account in this market
doubled in size for 2021.
PowerWith Cambridge plating
operations resuming H1 21, sales in the Power are now back to
sustainable growth. That segment growth will continue to accelerate
in 2022 since the group historical customer for which orders are
secured, will be completed by new businesses for thermal battery
applications.
OptronicsOptronics segment is
progressively transitioning from legacy projects to high end HTCC
transceiver packages which in the short term will be driven by
Egide SA factory thanks to its on-going digital and automation
transformation.
RF/MWThat market was temporary
down in 2021 with seasonal slowdown in the US in aerospace segment
and with currencies challenges at international defense accounts.
Perspective remains positive in that priority market with multiple
important programs won in Europe and Middle East that will ramp in
2022.
OthersThis segment which
aggregates a diversity of other applications such as industrial
equipment, medical, sensors, natural resource exploration, new
energies, grew 10%. Particular attention is given to promotion to
diversify revenue and to uncover new gems that will boost mid- and
long-term sustainable growth.
OUTLOOKS
The good rhythm of our order book build-up over the end of 2021,
driven largely by the Defense sector, provides a solid foundation
for growth in 2022.
Following the return to full production capacity
at its Cambridge site, Egide USA's HTCC ceramics order book has
recovered with close to $ 1 million, including two new customers. A
multi-year multi-million $ agreement with its largest power
customer is now confirmed with orders.
For Egide SA business entity, 2022 growth will
be fueled by revenue ramp at new customers acquired in the thermal
imaging market, by multiple new engagements for next generation
high speed communication transceivers for which Egide is one of the
only few companies capable to design and manufacture such complex
HTCC products, from few businesses in Power and sensor
applications. Multiple new important projects acquired in 2021 will
ramp in 2022 boosting Israel and China regions revenue.
FINANCIAL CALENDAR
March
30th,
2022 : 2021 financial results (after
French market closure)
March
31st, 2022
: SFAF Meeting Presentation of the 2021 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 1 39 97 61 22 –
i.aprile@finextenso.fr
About
Egide -
www.egide-group.comEgide 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 on
Euronext Paris™- Segment C - ISIN code: FR0000072373 – Reuters:
EGID.PA – Bloomberg: GID
- Egide-PR-2021-FY-Revenue-EN-220126
Egide (LSE:0OJ4)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Egide (LSE:0OJ4)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024