Sogeclair: Annual results for 2023

Blagnac, France, March 13th 2024-5.35pm,
Montréal Canada

ANNUAL RESULTS FOR 2023
Consolidated turnover : 148,0 M€, +9,7% (ATCC : +10,6%)
EBITDA⁽¹⁾ = 16,7 M€, +32,3%
RN  = 4,7 M€, +82,9%
Dividend = 0,94 € par action, +4,4%

SOGECLAIR, supplier of innovative solutions with high added value for a safer and less-consuming mobility announces today its financial results for the year ended December 31, 2023.

The Board of Directors met on March 07, 2024 has approved the financial statements for the year ended December 31, 2023. The audit procedures on the annual accounts have been carried out.
All the intermediate management balances are increasing, with an EBITDA at 11.3% of turnover (16.7M€), an operating income at 4.6% of turnover (6.9M€) and a net income at 3.2% (4.7M€), illustrating the rigorous execution of the ONE SOGECLAIR plan.

⁽¹⁾ Operating result – other operating income and charges + amortization expenses and operating provisions

HIGHLIGHTS OF THE YEAR :

• Modernization of corporate governance with separation of the roles of Chairman and Chief Executive Officer (May 2023)
• Listing on the growing companies segment with the transfer to Euronext Growth (July 2023)
• Continued deployment of the ONE SOGECLAIR plan, with the appointment of a Country Manager in India and the extension of offerings in North America.
• Reinforcement of cash margins with the implementation of a 10M€ PPR financing (4 years deferred + 4 years amortization). Available treasury is 16.7M€.
• Profitability recovery in North America from -3.6% to +7.7% (price and volume effect).
• Reduced losses on Large Simulators

By geographical area: In the context of the ONE SOGECLAIR organization, the performance measured below corresponds to the location of our subsidiaries by geographical zone and not according to the geographical location of our customers. This explains the gap between our customers' sales by geographic zone (sales figures communicated) and those presented below for subsidiaries located in each geographic zone.

Differences are due to the holding company and rounding

By Business:

Differences are due to the holding company and rounding

PROFITABILITY AND FINANCIAL STRUCTURE
R&D efforts were sustained at 12M€ over the year, of which 3M€ were capitalized compared with 3.3M€ the previous year.
Depreciation, amortization and provisions reached 9.5M€ and should stabilize around this ceiling.
Operating profitability jumped to 46.1%.
With shareholders' equity of 62.3 M€, the financial structure is solid, with debt at 12.2 M€ excluding IFRS 16 (vs. 12.1 M€ in 2022), i.e. gearing of 19.53%, and 22.4 M€ after IFRS 16 (vs. 16.3 M€ in 2022), i.e. gearing of 35.88%. The increase is due to lease renewals for 8.3 M€ (in Ile-de-France, Canada and Occitania).
Free cash flow is 16.7 M€.

DIVIDEND PROPOSAL
On March 07, 2024, the Board of Directors decided to propose a dividend of €0.94 per share, an increase of 4.4%, to the Annual General Meeting of May 14, 2024.

PERSPECTIVES

Markets are driven by the decarbonization of transport, as well as by simulation for the development (Engineering) and commissioning of complex systems.
Building on its good results in 2023, SOGECLAIR is continuing to invest in structuring its international business, and confirms its 2030 target of turnover of 250M€ and EBITDA profitability of 12%.

Next announcement: turnover for Q1 2024, on April 30^th 2024 after closing of the Stock Market

About SOGECLAIR
Supplier of innovative. high added-value solutions for safer and more efficient mobility. SOGECLAIR brings its skills in high-quality engineering and production to a broad range of cutting-edge sectors. notably aeronautics. space. vehicle. rail and defense. Supporting its customers and partners from the design and simulation stages through to the end of the product’s lifetime. all along the production chain through to entry into service. the collaborators are working worldwide to offer a high-quality. proximity service to all its customers.
SOGECLAIR is listed on Euronext Growth Paris - Indice Euronext® Family Business -Code ISIN: FR0000065864 / (Reuters SCLR.PA – Bloomberg SOG.FP)
Contacts: Philippe ROBARDEY. Chairman of the Board / Olivier PEDRON. Chief Executive Officer / +33(0)5 61 71 70 33
Press contact: Louise-Marie Thabard / SOGECLAIR Communication / louise-marie.thabard@sogeclair.com / +336 75 95 12 20

Attachment

• PR-2023 Résultats-EN