Egide: 2024 HY sales
July 17 2024 - 2:02AM
UK Regulatory
Egide: 2024 HY sales
Bollène (France), July 16, 2024– 06 :00pm
(CET)
Press Release
FIRST-HALF 2024 SALES
- 2024 Consolidated first-half sales: €15.4m
(-19%)
- Revenue decline resulting from the
sharp drop in business with a major customer in France.
- Significant efforts to win new
customers and develop new products. However, these diversifications
require relatively long qualification phases, which will only begin
to pay off in the last quarter of 2024.
- Growing proportion of sales
generated outside Europe and North America.
- Ongoing investment in modernizing
production facilities.
|
- Diversification efforts but with
delays in ramping up.
- H2 revenue expected to be higher
than H1.
- Consolidated revenue for 2024 expected to decline compared to
2023
|
| |
Egide Group
(Euronext Growth Paris™- ISIN :
FR0000072373 - Mnémo : ALGID), worldwide provider of
hermetic packages and heat dissipation solutions for sensitive
electronic components, presents today its 2024 half-year sales.
1. 2024 consolidated
first-half sales to €15.4m
In the first half of 2024, consolidated sales amount to €15.4
million, down 19% compared with the first half of 2023.
Egide SA was impacted by a very
sharp drop in revenue from one of its main customers, which had its
export licenses withdrawn. This sudden drop caused consolidated
sales to return to approximately the level of the first half of
2022. Business was also impacted by the lack of sales in China due
to the geopolitical context. Nevertheless, Egide SA actively
maintained its diversification strategy by expanding its customer
portfolio. This strategy, while promising, requires long
qualification phases, and will begin to pay off in 2025.
Egide USA's first half of 2024
was characterized by a slowdown in sales to its main customer, due
to overstocking and manufacturing problems, and by limited cash
flow. Despite this difficult context, Egide USA maintained its
diversification strategy by developing two new market segments:
products for thermal batteries and for pyrotechnic and energetic
devices for missiles. These new activities, although promising,
encountered delays in their implementation, due to
longer-than-expected customer qualification processes.
Santier was impacted by
disruptions to its supply chain due to limited cash and the failure
of some of its suppliers to meet quality and delivery
deadlines.
Millions of euros
|
H1 2024 * |
H1 2023 |
Variation |
|
€m |
% sales |
€m |
% sales |
€m |
% sales |
|
Egide SA |
7.04 |
46% |
8.62 |
45% |
-1.58 |
-18% |
|
Egide USA |
5.15 |
33% |
6.35 |
33% |
-1.20 |
-19% |
|
Santier |
3.24 |
21% |
4.22 |
22% |
-0.98 |
-23% |
|
Group |
15.43 |
100% |
19.19 |
100% |
-3.76 |
-20% |
* unaudited
For the record, the average euro/dollar exchange
rate in H1 2024 was 1.0823, compared with 1.0811 in H1 2023.
Revenue per
application
The decline in sales was mainly recorded in the
thermal imaging and optronics market segments.
Millions of euros
|
H1 2024 * |
H1 2023 |
Variation |
|
€m |
% sales |
€m |
% sales |
€m |
% sales |
|
Thermal Imaging |
4.27 |
28% |
7.48 |
39% |
-3.21 |
-43% |
|
Power |
4.35 |
28% |
3.67 |
19% |
0.68 |
19% |
|
Optronics |
1.81 |
12% |
2.93 |
15% |
-1.12 |
-38% |
|
RF/MW |
3.00 |
19% |
2.84 |
15% |
0.16 |
6% |
|
Others |
2.00 |
13% |
2.27 |
12% |
-0.27 |
-12% |
|
Group |
15.43 |
100% |
19.19 |
100% |
-3.76 |
-20% |
* Unaudited
Revenue by Region
The Group's share of sales rose in the rest of
the world (from 20% to 31%) but decreased in Europe (from 29% to
22%) and North America (from 51% to 47%).
This is mainly due to the decline in activity
from a major customer in France and the development of new
customers and sales in the Middle East.
Millions of Euros
|
H1 2024* |
H1 2023 |
Variation |
|
€m |
% sales |
€m |
% sales |
€m |
% sales |
|
North America |
7.28 |
47% |
9.72 |
51% |
-2.44 |
-25% |
|
Europe |
3.40 |
22% |
5.56 |
29% |
-2.16 |
-39% |
|
Asia & ROW |
4.75 |
31% |
3.91 |
20% |
0.84 |
21% |
|
Group |
15.43 |
100% |
19.19 |
100% |
-3.76 |
-20% |
* Unaudited
2. 2024
OUTLOOK
The Group continued to invest heavily in business development,
allowing to diversify its customer portfolio and launch two new
markets: thermal batteries and for pyrotechnic and energetic
devices for missiles. However, new customers require relatively
long qualification phases, which will only begin to be fruitful in
the second half of 2024.
Despite half-year sales expected to be above the
first-half level in the second half, the Group will not be able to
make up the gap left by the customer's major decline.
Sales in 2024 will therefore be lower than in
2023 but will benefit from a more diversified customer base and an
industrial infrastructure that is continuing to modernize.
With its diversified customer base and modern
industrial facilities, Egide has two major strengths to gain in
competitiveness and absorb this temporary slowdown in order to
return to growth.
FINANCIAL CALENDAR
GENERAL SHAREHOLDER’S MEETING :
July
25, 2024
2024 H1 consolidated financial statements :
October
22, 2024
CONTACTS
EGIDE –Philippe Bringuier –
Chief Executive Officer & Chief Financial Officer - +33 4 90 30
35 94 – pbringuier@fr.egide-group.com
FIN’EXTENSO – Isabelle Aprile –
Press Relations - +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 on Euronext
Growth Paris™- ISIN : FR0000072373 - Mnémo :
ALGID
- Egide-PR-2024-HY-turnover-07162024-EN
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