Earnings Release • Oct 20, 2022
Earnings Release
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Mortagne-sur-Sèvre, France, 20 October 2022, COGELEC (ISIN: FR0013335742/Ticker: ALLEC), the French leader in access control systems for building complexes, is today releasing its revenue data for the third quarter of 2022.
| Revenue In €m |
2022 | 2021 | Change |
|---|---|---|---|
| Q1 | 14.3 | 13.2 | + 7.9% |
| Q2 | 15.7 | 12.9 | + 21.8% |
| Q3 | 13.0 | 11.5 | + 13.1% |
| 9-month total | 43.0 | 37.6 | +14.3% |
Consolidated revenue in Q3 2022 came to €13.0m, up +13.1% compared with Q3 2021. This performance reflects quality recurring revenues derived from the COGELEC model in a broad wait-and-see environment, and gains in market share for the Intratone brand, the leader in GSM intercoms in France and Europe.
The Group made consolidated revenue of €43.0m over the first nine months of the year, an increase of +14.3%.
Subscriptions increased by 21.3% in Q3 (€4.2m vs. €3.5m in Q3 2021) and by 20.9% over 9 months (€12.1m vs. €10m a year earlier).
In France, revenue increased by +10.5% in Q3 to €11.2m vs. €10.1m a year earlier. Over 9 months, revenue was up +12.6% to €37.3m vs. €33.2m in 2021, incorporating the price increase introduced at the beginning of the year.
In Europe, sustained momentum in capturing new market share led to a +32.6% increase in revenue in Q3 to €1.8m vs. €1.3m in 2021. Over 9 months, sales in Europe were up +26.9% to €5.7m vs. €4.5m a year earlier, consolidating the Group's European positioning with an innovative offering that is technically unrivalled on the market.
Based on continued growth in its installed base, a diversified services offering, and a positive shift in its product mix which has increased recurrent business, COGELEC has
confirmed its revenue growth guidance of more than 10% over full-year 2022. Amid inflationary pressures on raw materials, the Group also confirmed an improvement in its consolidated EBITDA over the same period.
Cogelec Véronique Pochet Chief Financial Officer +33 (0)2 72 67 00 91 [email protected]
Actifin Ghislaine Gasparetto Financial Communication +33 (0)1 56 88 11 22 [email protected]
Actifin Jennifer Jullia Financial Press Relations +33 (0)1 56 88 11 19 [email protected]
COGELEC is the French leader in access control systems for building complexes. In 2007, COGELEC created the first global wireless interphone with subscription offer, under the Intratone brand.
Based on an indirect distribution model, combined with very close-knit relations with social landlords and building complex management associations, COGELEC now operates in six countries in Europe and the Intratone brand has more than 1.7 million dwellings subscribed. COGELEC is listed on the Euronext Growth Paris, and is part of the Growth AllShare, Tech Croissance and PEA-PME 150 indices.
For more information: www.cogelec.fr
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