Earnings Release • Jul 20, 2023
Earnings Release
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Mortagne-sur-Sèvre, France, 20 July 2023, COGELEC (ISIN: FR0013335742/Ticker: ALLEC), the French leader in access control systems for building complexes, is today releasing its revenue for first-half 2023, ended on 30 June.
| Revenue In €m |
2023 | 2022 | Change |
|---|---|---|---|
| Q1 | 17.2 | 14.3 | +20.6% |
| Q2 | 15.4 | 15.7 | -2% |
| Total H1 | 32.6 | 30.0 | +8.7% |
Half-year revenue totalled €32.6m, up 8.7% compared with the same period in 2022 (€30m). After a brisk start to the year, revenue dipped slightly in the second quarter, by 2% to €15.4m, compared with an extremely high level of activity in the second quarter of the previous fiscal year (+22.2% growth in Q2 2022 alone).
In addition to this substantial base effect, the second quarter was impacted by a considerable economic factor, namely a greater number of days off, which led to the postponement of General Meetings and a shift in the completion of planned facilities.
Intratone, COGELEC's flagship brand, central to its service offering with a unique positioning in GSM intercoms, continues to drive the Group's sales performance in France and Europe.
In parallel to continuous growth in the installed base, subscriptions increased by 23.1% in Q2 2023 (€5.0m vs. €4.1m in Q2 2022) and by 23.2% in the first half of the year (€9.8m vs. €7.9m a year earlier). At 30 June 2023, the Intratone brand had over two million residential units.
In France, revenue fell a slight 2.4% in Q2 2023 (€13.4m vs. €13.8m in 2022) but increased 9.1% in the first half of the year to €28.5m vs. €26.1m in H1 2022.
In Europe, commercial activity moved ahead, with revenue holding steady in Q2 2023 (€2.0m vs. €2.0m in 2022). Sales in Europe were up 6.2% in the first half of the year (€4.1m vs. €3.9m a year earlier), driven in particular by the strong performance posted in the United Kingdom.
With its installed base and innovative service offering, the Group is confirming its target of double-digit revenue growth for the current financial year. Kibolt will be launched on the market as planned in the second half of the year.
First-half results: 27 September 2023, after market close Investors' Meeting: 28 September 2023 at 10.00 a.m. Q3 revenue: 19 October 2023, after market close
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 solution, marketed as part of a 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 2 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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