Egide: FIRST HALF OF 2021 TURNOVER
Bollene, July 23, 2021– 6:00 p.m. (HEC)
FIRST HALF OF 2021 REVENUES
- Sales for the first half of 2021 was 16 €,59 m: + 30.7% cocompared to H2 2020.
- Egide SA is up + 2.3% compared to H2 2020, and 16.3% year-on-year
- Egide USA grew at + 146.7% (in $) compared to H2 2020, but at -2.9% year-on-year because the plating operation gradually became operational during the half-year.
- Santier also rebounds at + 14.1% (in $) compared to H2 2020, yet – 13 YoY%
- The Group’s revenue target is maintained for 2021.
- Egide USA’s plating operation will be 100% operational at the start of Q3 2021
The unaudited consolidated revenue of the Egide group in the first half of 2021 is growing strongly to € 16.59 million (+ 30.7%) compared to H2 2020 driven by the strong rebound of Santier and Egide USA which gradually resumed its plating activity. At constant exchange rates, compared to H1 2020, the group recorded growth of 1.1% year-on-year, supported by the strong growth of Egide SA (+ 16.6% year-on-year) while the line Aegis USA plating was not yet working to its full potential at.
The Egide Group confirms its growth objective for the first half of 2021. The Group’s revenue at June 30, 2021 benefits in particular from:
- The continued growth of Egide SA. The company is very well positioned in the thermal imaging market in Europe, Asia (especially with new customers in China and South Korea) and the Middle East. The management team focused on new opportunities in line with its strategy of developing high performance packages for power, optronics and microwave applications. This refocusing has allowed the product mix to evolve favorably, and to position Egide on new opportunities with orders to qualify new customers and projects in Oil & Gas, night vision and high performance optoelectronics for communication by fiber.
- Egide USA recorded an improvement in its performance as the Cambridge subsidiary returned to a level of activity close to what it was in the first half of 2020 before the fire. This required the use of a combination of plating contractors with the new state-of-the-art plating operation. We remind you that the first half of 2020 saw a particularly strong level of turnover. The plating activities gradually recovered during the first half of the year and are almost fully operational.
- Santier’s activity increased by + 14% compared to the previous semester, but decreased by 13% (both in $) compared to H1 2020, mainly due to the impact of the aerospace industry. Indeed, specific satellite programs with major defense contractors have been delayed, most likely due to downsizing resulting from the pandemic.
Sales denominated in dollars represented 56% of the Group’s total sales in the first half of 2021.
HIGHLIGHTS BY BUSINESS UNIT
|In millions of euros||H1 2020||H1 2021 *||Var. %||Comp. Var. % **|
|Egide United States||6.05||5.35||–11.6%||-3.3%|
* Unaudited ** At constant exchange rate
For information, the average euro / dollar parity in the first half of 2021 was 1,2057 against 1.102 in the first half of 2020.
INCOME PER APPLICATION
|In millions of euros||H1 2020||H1 2021 *||Var. %||(€) Comp. Var.% **|
|Thermal imaging||4.46||5.89||+ 32.1%||+ 33.1%|
|RF / MW||3.41||2.34||-31.3%||-26.2%|
|Others||1.73||2.01||+ 16.0%||+ 23.6%|
* Unaudited ** At constant exchange rate
The activity of large customers saw a significant rebound in the EU, the Middle East and in Asia where Egide acquired many new customers, while the activity in the United States was still weak due to the fire. . Overall, demand for this market continues to be strong through 2021.
Of our business units, Egide USA benefits the most from the electricity markets. Demand for these products remains strong and the use of outsourced plating has helped meet customer demand. For the second half of the year, we expect similar revenue demand, although Egide USA’s plating operation should soon reach its full potential.
The Egide SA business unit continues to see heritage programs slow down a bit. This activity is being replaced by high-end products for high frequency applications with larger volumes on the horizon. New investments underway in the transformation of Industry 4.0 will support these growing high-volume, high-precision HTCC companies.
RF / MW
The Covid crisis has continued to delay some of the satellite programs scheduled for 2021. In the meantime, the company has continued to innovate so that its ceramics differentiate in high-frequency applications that will use the HTCC process.
The various other markets in which Egide is initiating new diversified growth drivers increased by 16%
Egide SA plans to grow in 2021 and to be qualified on new projects in the Power, High-end HTCC fiber links, Oil exploration and Sensors segments.
While Egide USA is now close to recovering 100% of its plating capacity, the group is confident in reaching a new growth target in the second half of 2021.
Santier has a shorter duty cycle with less visibility.
Although the health crisis limited exploration activities, several design contracts were signed during the first half of 2021 with new customers in the oil and gas, space, optical transmissions or night vision sectors.
In addition, the appointment of two business development directors for North America and Europe / Asia in the first half of 2021 will enable Egide to take new steps and accelerate the Group’s growth in its strategic markets in addition to commercial organization.
In view of all these elements, the Egide group is confident in reaching its revenue target for the year.
Finally, the recent subsidies of € 1.1 million from the French government obtained by Egide as part of the Recovery Plan are a major contribution to the implementation of its transformation towards Industry 4.0, which will have a gradual impact with full effect. by the end of 2022. This important step will strengthen Egide’s capacity to implement more digitized and automated processes, essential to meet the expectations of its target markets in terms of quality and scalability.
September 30, 2021 : Press release Half-year results 2021 (Before the opening of the French market)
Presentation of the 2020 half-year results to analysts – – 11:30 a.m. (Paris time)
About Aegis – www.egide-group.com
Egide is an international group specializing in the manufacture of hermetic packages and thermal dissipation solutions for sensitive electronic components. It operates in cutting-edge markets with strong technological barriers to entry into all critical industrial segments (thermal imaging. Optronics. High frequency. Power units, etc.). Egide is the only pure player in this market niche with industrial establishments in France and the United States.
Egide is listed on Euronext Paris ™ – Segment C – ISIN code: FR0000072373 – Reuters: EGID.PA – Bloomberg: GID