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Precia Molen — Interim / Quarterly Report 2021
Sep 27, 2021
1607_iss_2021-09-27_f7b7fd59-0a5e-4106-be3a-394154d4d110.pdf
Interim / Quarterly Report
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Privas, September 27, 2021, 6PM
First Semester 2021 consolidated results: strong increase in turnover and profitability
| (in K€) | 2021 S1 | 2020 | 2020 S1 |
|---|---|---|---|
| Net consolidated sales | 72 277 | 135 949 | 62 557 |
| EBITDA | 10 306 | 19 135 | 8 225 |
| In % of net sales | 14,30% | 14,10% | 13,10% |
| Operational result | 6 539 | 12 692 | 4 544 |
| In % of net sales | 9,00% | 9,30% | 7,30% |
| Net result Groupe share | 4 118 | 7 061 | 1 968 |
| In % of net sales | 5,70% | 5,20% | 3,10% |
| Earnings per shares (in Euros) | 7,6 | 13,1 | 3,6 |
| Net income per share to date (in Euros after nominal share split) |
0,76 | 1,31 | 0,36 |
Profitable growth expected for year end 2021
These accounts were subject to a limited review by the auditors and were approved by the Group's Supervisory Board on September 27, 2021.
Strong increase in turnover to € 72.3 million (+ 15.5%) and significant improvement in EBITDA to 14.3% and operating margin to 9.0%
The Precia Molen Group achieved a turnover of € 72.3 million during the first half of 2021. This figure is up 15.5% compared to the same period in 2020 and up 6.5% compared to the first half of 2019. On a likefor-like basis, organic growth amounts to + 15.2%. Currency effects amount to 0.3%. Acquisitions made during the period had a 0.7% impact on sales.
Operating profit for the period reaches € 6.5 million (+ 44%), or 9.0% of sales. This significant increase in operating income should be highlighted with the 2020 comparison base heavily impacted by the health crisis. This performance confirms the group's sustainable and profitable development model within the framework of controlled costs.
Net income group share for the first half reached € 4.1 million (+ 109%), representing 5.7% of turnover, against 3.1% in 2020.
Earnings per share before 10-for-1 share split also increased to € 7.6 per share in the first half of 2021 (vs. € 3.6 in 2020).
Increased operating cash flow, strong reduction in the level of working capital
Cash net of financial debts amounted to € 6.0 million, a level comparable to the start of the year.
Operating cash flow amounts to € 11.3 million (excluding IFRS16) which enabled the Company to finance investments of € 8.2 million (including € 6.0 million for external growth). The working capital requirement decreases (as a percentage of annual turnover and in value) and represents 10.3% of the annualized turnover against 15.4% last year, mainly thanks to an improved control of our outstanding trade receivables.
Cash (cash and cash equivalents) amounted to € 34.9 million compared to € 31.2 million six months ago.
Outlook for the year end
The consequences of the health crisis on supplies (price, lead times, transport) are a subject of concern for the Precia Molen group.
Although the margin levels of our industrial activities (excluding service) could be affected, the Group's order book was up sharply at the end of June and we now anticipate a total turnover level for the year 2021 exceeding € 145 million.
Release of half year financial report
The half-year financial report as of June 30, 2021 will be available from September 30, 2021 on the company's website: http://www.preciamolen.com/informations-reglementees/ (FR only)
The Chairman of the Executive Board
René COLOMBEL
Contacts : PRECIA MOLEN BP 106 – 07001 PRIVAS CEDEX Tél. : +33 4 75 66 46 77 E-mail [email protected]
About Precia Molen
PRECIA MOLEN designs and manufactures, sells and maintains systems and solutions of industrial and commercial static weighing and of continuous weighing and dosing equipment. Main clients are heavy industries (mines, quarries, steel, environment, energy…) and light industries (food, chemicals, transportation and logistics…) and also public sectors (posts, local authorities…).
From design to after sales service, PRECIA-MOLEN is able to provide total weighing solutions for all businesses Precia Molen is present in 42 countries, with 22 commercial subsidiaries and a large network of selling agents. It has nine production plants (France, The Netherlands, India, the United Kingdom, Morocco, Australia, Poland and Lithuania) and three assembly sites (Brazil, USA, Malaysia). The Group pursues a large research and innovation program, and has been granted an "Innovating Company" status by French authority Oseo.
Precia Molen is listed on NYSE Euronext's C compartment in Paris (code ISIN FR0000060832 - Mnemo: PREC).
More information on www.preciamolen.com