Roctool S.A. — Earnings Release 2021

Mar 16, 2022

Press release

Le Bourget-du-Lac, March 16th, 2022 – 08 am CEST

Yearly results 2021

Strong acceleration of activity: +27% Substantial improvement of results Profitable growth path confirmed

Roctool (Euronext Growth – FR0010523167 – ALROC), a specialist in mold heating and cooling technologies for plastics and composites, presents its audited consolidated annual results, ending December 31st, 2021, and approved by the Board of Directors on March 15th, 2022.

Mathieu Boulanger, Roctool CEO, says: "As the second half of 2021 shows, all Roctool's performance indicators are gradually turning green. The significant investments made to develop our offer in new markets such as beauty and energy, and the efforts made to get through the two years of a complex period in the best possible conditions, allow the company to appreciate its financial performance very clearly. Although not exposed to the economic risk, the company remains cautious and expects a further improvement in its performance for the current financial year."

	2021	2020	∆
Revenues	8 236 305	6 505 410	27%	▲
Sale of goods	4 141 058	4 579 497	-10%	▼
Cost of good solds	2 280 533	2 557 538	-11%	▼
Goods gross profit	1 860 525	2 021 959	-8%	▼
Services	1 726 893	1 609 816	7%	▲
Licesing	2 200 000	22 033 9885%		▲
Royalties	168 353	294 064	-43%	▼
Sale of services	4 095 246	1 925 913	113%	▲
Total gross profit	5 955 772	3 947 872	51%	▲
% of sales	72%	61%
Operational costs	5 865 472	5 675 632	3%	▲
Of which personnel	3 543 452	3 623 177	-2%	▼
Of which other operational costs	2 322 020	2 052 455	13%	▲
EBITDA	196 510	(1 657 514)	-	▲
Capitalized production, provisions write-back, etc.	190 860	227 007	-16%	▼
Depreciations and amortizations	1 025 192	787 773	30%	▲
EBIT	(637 822)	(2 218 280)	71%	▲
Financial result	(102 569)	(383 172)	73%	▲
Current result	(740 390)	(2 601 451)	72%	▲
Extraordinary result	28 723	(5 831)	-593%	▼
Income tax	(7 514)	(6 158)	-22%	▼
Net income (loss)	(704 154)	(2 601 124)	73%	▲

2021 consolidated revenues amounted to € 8.2m, including € 5.3m in H2, representing an increase of 27% vs 2020, with a strong growth in H2 of +82% vs H2 2020.

This hyper-growth has been driven in particular by the significant breakthrough in the beauty sector, which is becoming one of Roctool leading markets and represent 42% of total revenues in 2021, followed by consumer products (18%) and industry (17%).

A strong 2021 activity, with major growth opportunities

In addition to the sales acceleration in the beauty sector and a major contract in this strategic segment, the Company has confirmed the interest of its technology for key applications in the energy market, such as hydrogen and solar solutions.

In 2021, Roctool launched the "Eco-Moulding" initiative, which has already been adopted by major brands concerned about their environmental footprint. This initiative is the basis for Roctool future growth. As a reminder, "Eco-Moulding" is based on three essential pillars: Roctool technology with thermal control of molds, recycled/recyclable resins, and surface technologies to sublimate the parts without secondary operations.

Over the year, the operating performance improved strongly. Gross margin reached € 6m, or 72% of sales (i.e. an increase of 51% vs 2020). EBITDA becomes positive at € 0.2m, despite a slight increase in operational costs (+3% vs 2020).

After a financial result of € -0.1m, net result is significantly improved at € -0.7m vs € -2.6m in 2020.

Strengthened financial position

As of December 31st, 2021, the Group has a strengthened financial position, with € 2.7m in equity, € 4.5m in financial debt (including € 1.3m in bonds redeemable in shares and/or cash) and € 2.2m in available cash (with accounts receivable up sharply to € 5.1m thanks to strong growth in Q4 2021).

Progress in the search for an industrial partner

To be noted that discussions with two potential industrial partners have accelerated since the beginning of the year. As a reminder, this ongoing search for a strategic partner aims to strengthen Roctool and the deployment of its technology internationally.

If 2021 was a year of transformation and acceleration with major international accounts, the first months of 2022 confirm the quality of this strategic shift. The strong commercial traction through the sustainability pertinence of Roctool technology, confirmed in the beauty sector by a leading player, allows the Company more than ever to confirm its ambitions of strong profitable growth.

About Roctool: www.roctool.com

Founded in 2000, Roctool is a technology and manufacturing solutions provider offering engineering services and systems. The Roctool induction process, perfectly adapted to plastic injection and compression molding, is available in many configurations to meet industrial requirements. Roctool's research and development team is constantly adapting its technologies to new materials, particularly metals. Roctool is the leader in heat and cool technologies, and today offers HDPlastics™ to plastic molders, Light Induction Tooling technology - LIT™ to suppliers of composite parts and Induction Dual Heating technology - IDH™ for complete molding solutions. The processes developed by Roctool are used in production by leading brands in innovative sectors such as automotive, aerospace, consumer products and electronics. They offer many advantages, including reduced cycle times, excellent surface quality, weight and performance savings, which allows manufacturers to reduce the overall cost of the parts produced. Roctool is listed on the Euronext Growth market in Paris. Its headquarters and R&D center are located at Le Bourget du Lac (France). Roctool also has offices and platforms in North America, Japan, Taiwan, Germany and China.

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