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Groupe SFPI
Earnings Release • Apr 20, 2022
1388_iss_2022-04-20_055a2404-5854-4dc8-bc55-13e6bdb0e0bf.pdf
Earnings Release
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April 20, 2022
GROUPE SFPI : ANNUAL RESULTS 2021
Strong Growth in results
The Board of Directors of Sfpi Group, which is specialized in the personal, property and environmental protection industries, met on April 20, 2022 and approved the consolidated financial statements for the year ended December 31, 2021.
These consolidated financial statements for the period from January 1, 2021 to December 31, 2021 have been audited by our statutory auditors and their audit report is being issued.
| % | % | Variation 2021/ | |||
|---|---|---|---|---|---|
| in €M | 31/12/2021 | Of sales | 31/12/2020 | Of sales | 2020 (en %) |
| Sales | 569,0 | 498,8 | +14,1 % | ||
| Incl. Dom Security Division | 197,8 | 178,5 | +10,8 % | ||
| Incl. MAC Division | 193,2 | 166,5 | +16,1 % |
||
| Incl. NEU-JKF Division | 118,5 | 101,1 | +17,2 % |
||
| Incl. MMD Division | 59,8 | 53,0 | +12,8 % |
||
| Growth Margin | 338,5 | 59,5 % | 295,5 | 59,2 % | +0,3 pt |
| Incl. Dom Security Division | 70,2 % |
% 69,3 |
|||
| Incl. MAC Division | 55,6 % |
% 54,6 |
|||
| Incl. NEU-JKF Division | 49,9 % |
% 51,0 |
|||
| Incl. MMD Division | 55,5 % |
% 55,3 |
|||
| Recurring Operating Income | 43,6 | 7,7 % | 28,6 | 5,7 % | |
| Incl. Dom Security Division | 23,4 | 16,2 | |||
| Incl. MAC Division | 8,1 | 3,2 | |||
| Incl. NEU-JKF Division | 7,5 | 4,3 | |||
| Incl. MMD Division | 4,7 | 5,5 | |||
| Operating Income | 44,6 | 7,8 % |
27,0 | % 5,4 |
|
| Consolidated Net Income | 32,4 | 5,7 % | 17,7 | 3,6 % | |
| Group Share | 32,2 | 17,6 | |||
| Non controlling interest | 0,2 | 0,1 | |||
| Earning per share (in euros) | 0,34 | 0,19 |
Consolidated revenues at December 31, 2021 were €569 million, up 14% organically compared to 2020.
Profit from recurring operations is €43.6 million, compared with €28.6 million in 2020, an increase of 52%. In this period of global pandemic, the group has continued to transform itself to defend its vision of industrial responsibility.
Net income from consolidated companies is also up sharply. It amounts to €32.4 million, compared with €17.7 million in 2020.
On December, 31st 2021, the Equity group's share amounts to € 232.5 M, compared with € 214.2 M at December, 31st 2020.
| en M€ | 31/12/2021 | 31/12/2020 |
|---|---|---|
| Non-current Assets | 171,2 | 174,1 |
| Current Assets | 214,9 | 190,4 |
| Net Inventories | 103,1 | 74,0 |
| Receivables | 90,8 | 91,5 |
| Others | 21,0 | 24,9 |
| Cash and cash equivalents | 155,9 | 162,6 |
| Total Asset | 542,0 | 527,1 |
| Equity | 233,9 | 215,9 |
| Incl. Group Share | 232,5 | 214,2 |
| Non-current liabilities | 134,3 | 155,0 |
| Non-current financial debt | 59,8 | 75,3 |
| Non-current Leases debts | 6,7 | 7,4 |
| Provisions (employee benefit…) | 67,8 | 72,3 |
| Current liabilities | 173,8 | 156,2 |
| Current financial debts | 20,3 | 22,6 |
| Current Leases debts | 3,4 | 4,0 |
| Payables | 65,2 | 55,9 |
| Social and tax liabilities | 45,2 | 43,9 |
| Others | 39,7 | 29,8 |
| Total Equity and Liabilities | 542,9 | 527,1 |
The financial structure remains solid, the group has a positive net cash of € 75.8 M split as follows
| In €M | 31/12/2021 | 31/12/2020 | Variation 2021/2020 |
|---|---|---|---|
| Financial debts (non-current)* | (59,8) | (75,3) | +15,5 |
| Financial debts (current) * | (19,1) | (21,2) | +2,1 |
| Overdraft | (1,2) | (1,4) | +0 ,2 |
| Cash and cash equivalents | 155,9 | 162,6 | -6,7 |
| Net Financial Excess | 75,8 | 64,7 | 11,1 |
(*)financial debts don't include IFRS16.
The simplified consolidated cash-flow statement is :
| In €M | 31/12/2021 | 31/12/2020 | Variation 202 1/2020 |
|---|---|---|---|
| Cash Flow from Operating Activities | 43,4 | 54,9 | -11,6 |
| Cash flow used in Investment activities | (11,1) | (11,7) | +0,5 |
| Cash flow from (used in) Financing activities | (38,9) | 1,3 | -40,2 |
| Net increase (decrease) of Cash flow | -6,6 | 44,5 | -51,0 |
In 2021, cash flow from financing activities includes €10 million of treasury stock repurchases, €6 million of dividends and €21.9 million of debt repayments to credit institutions.
Dividends 2020: The Board of Directors will propose to the Annual General Meeting, to be held on June 17, 2022, the vote of a dividend of €0.08 per share, i.e. a total amount of €7.9m.
Outlook: For fiscal year 2022, the Group expects annual revenues of around €600 million.
For Henri Morel, CEO and founder of Sfpi Group: "Against the backdrop of a global pandemic, these results demonstrate the resilience of our group. They also validate an ambitious transformation plan in terms of commercial, financial, environmental and managerial culture, which will continue over the next few years. The plan has resulted in revenue growth, to which all divisions contributed equally, and a
significant improvement in net income. Together with a solid financial surplus, these results allow the Group to look forward to the future with confidence."
Find the presentation of results 2021, effective April 21, 2022 on https://www.sfpi-group.com/global/fr/investisseurs
Next communication: Shareholder Meeting June, 17 th 2022
| Identity | Contact : |
|---|---|
| Ticker : SFPI | Nicolas LOYAU - CFO |
| Code ISIN : FR0004155000 | [email protected] |
| or | |
| Sophie MOREL – Investors relations | |
| [email protected] | |
| +33 1 46 22 09 00 |
About Sfpi Group
SFPI Group (Safety for People and Industry) was founded in France in 1985. Today, it constitutes a group of companies specialized in the safety industry for people, goods and environment. They're united within 4 autonomous, innovative and digitalized operating divisions: DOM Security, MAC, MMD, NEU-JKF. SFPI Group generates a turnover of more than 550 million Euros, employs 3900 people and delivers solutions such as buildings security and convenience, air-treatment and energy saving, both for industrial and private markets. Industrial, responsible and European with global ambitions, SFPI Group is pursuing its international expansion