Egide: 2023 H1 sales

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Bollène (France), July 19, 2023 06:00pm (CET)
Press Release

Growing business in 1ST Half-Year 2023

 

  • Egide SA sales in H1 2023 amounts to €8.6m
    • +13% compared to H1 2022.

 

  • 26% growth revenue in H1 2023 of US subsidiaries (for sale)

 

  • Outlook
    Driven by strong sales momentum across all products in H1 2023, Egide SA intends to maintain a similar level of revenue in H2 2023.

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Egide, the worldwide hermetic packages specialist , presents its H1 2023 revenue.

1.    H1 2023 revenue of Egide SA up 13% to €8.6m

In the first half of 2023, Egide SA reported unaudited sales of €8.6 million, up 13% compared to the first half of 2022 and up 10% on the second half of 2022.

This growth is mainly driven by faster order processing, shortened manufacturing lead times and improvement of customer service.

Egide SA
In million Euros
H1 2022 H1 2023* Var. %
Egide SA 7.64                8.62 + 13%

* unaudited    

Revenue by application

All market segments are growing, except for RF, where variation in absolute figures is not significant. The growth in Egide SA’s business is mainly due to the thermal imaging markets (+1M€), where Egide’s know-how is recognized worldwide.

Egide SA
In million Euros
H1 2022 H1 2023 * Var. %
Therm imaging. 5.42 6.44 +18.9%
Power 0.05 0.13 +163.3%
Optronics 0.76 0.80 +5.7%
RF 0.96 0.77 -19.8%
Other 0.45 0.48 +5.9%
Egide SA 7.64 8.62 +12.9%

* Unaudited        

Revenue by geographical area

Growth in Egide SA’s business was driven by expansion in Europe (+€0.9M), with growth of several French customers, and in the USA (+€0.3M).

The Middle East remains strong.

Egide SA
In million Euros
H1 2022 H1 2023 * Var. %
USA 0.10 0.35 +254.5%
Europe 4.22 5.07 +20.2%
Asia & ROW 3.32 3.20 -3.7%
Egide SA 7.64 8.62 +12.9%

* unaudited        

2.      Growth of 26% of US subsidiaries (for sale)

In the first half of 2023, the US subsidiaries (for sale) reported revenues of €10.6 million, up 26% compared to H1 2022.

At constant exchange rates, sales growth was 24%, with a favorable currency effect of 2%.

US Subsidiaries
In million Euros
H1 2022 H1 2023* Var. % Var. %**
based on constant $.
Egide USA 4.25                6.35 +49% +47%
Santier 4.13 4.22 +2% +1%
US Subsidiaries             8.38             10.57 +26 % +24%

* unaudited ** in constant $  

This increase in revenue of the US subsidiaries in H1 2023 compared to H1 2022 is all the more significant that in the previous year, the US subsidiaries lost 9.8% of sales in the first half compared with 2021.

The growth in Egide USA’s business is primarily due to improved operating performance. The facility is operational again after all the difficulties with workforce, training, qualification and quality, which were explained in previous communications. Furthermore, the sales backlog remains strong.

Santier’s activity remains stable.

Revenue by application

All market segments are growing. The €2.2M revenue growth is mainly due to optronics (+€0.7M), power (+€0.6M) and thermal imaging (+€0.6M) markets.

US subsidiaries
In million Euros
H1 2022 H1 2023 * Var. %
Therm imaging. 0.49 1.04 +111%
Power 2.97 3.55 +19%
Optronics 1.43 2.12 +49%
Microwave/RF 1.95 2.07 +6%
Other 1.54 1.80 +16%
US subsidiaries 8.38 10.57 +26%

* Unaudited   

Revenue by geographical area

Business growth at the US units was driven by the booming US market (+€2.6m).

US subsidiaries
In million Euros
H1 2022 H1 2023 * Var. %
USA 6.82 9.37 37%
Europe 0.36 0.48 35%
Asia & ROW 1.20 0.72 -40%
US subsidiaries 8.38 10.57 26%

* Unaudited        

3.      OUTLOOK FOR 2023

Driven by strong sales momentum across all products in H1 2023, Egide SA intends to maintain a similar level of revenue in H2 2023.

In addition, the improved performance of the US subsidiaries is a positive event for the on-going discussions with potential buyers. Additional measures to improve the performance are being implemented.

FINANCIAL CALENDAR

Press Release 2023 Half-year results:                         October 26, 2023

CONTACTS

EGIDE –Philippe Bringuier – General Manager & Chief Financial Officer – +33 4 90 30 35 94 – [email protected]     

FIN’EXTENSO – Isabelle Aprile – Press Relations – +33 1 39 97 61 22 – [email protected]  

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

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