Egide

1ST HALF 2020 REVENUE

Bollène, July 23, 2020 - 6:00 p.m. (CET)
Press Release

1^ST HALF 2020 REVENUE
  

• 1^st half 2020 revenue at €17.27m (+16.1% YoY)

• All subsidiaries are growing:
  • Egide SA: + 16.3%
  • Egide USA: + 20.8%
  • Santier: + 10.7%

• OUTLOOK
  • Current backlog for S2 2020 is firm and similar to S1.
  • Uncertainty of the market forces due to the COVID-19 crisis make it difficult to predict the situation for S2 2020 and 2021. 

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Egide Group's unaudited consolidated revenue grew to €17.27 million, an increase of 16.1% compared to H1 2019.
The Egide group's unaudited consolidated revenue for the first half of 2020 benefited in particular from growth in the thermal imaging market in Europe, and from Egide’s performance in the power market in the US.

Commercial activity has been heavily impacted by the COVID-19 crisis, as since February there has been no ability to visit customers in person, and no trade show activity. This has adversely affected our order intake, relative to the revenues in S1. As a gradual opening of the economy is observed, Egide is preparing for new commercial activity. In the frame of its worldwide sales strategy to develop Egide’s export business, Egide has relaunched in June its actions to increase its international network coverage, particularly in Russia with the signing of a new distribution agreement for this area. It has brought on a new representative in Germany, plan a similar in Spain and has added an additional sales manager in the US.

The impact of the Covid-19 remained minimal on the production and delivery requirements from customers worldwide. The Group operates in structurally resilient markets such as Defense, Telecom or Medical. The industrial facilities in Cambridge and San Diego are considered essential for defense as they provide products for DX/DO rated programs. Similarly, the Bollène site produces and contributes to advanced research projects for the French and European defense and aerospace sectors.

From the beginning of the crisis, the Egide Group has taken the necessary initiatives to minimize the risks, in particular by securing its supply chain with a 2^nd qualified source on at least 2 continents and by implementing strict health rules in all its plants.

The purchasing department is still in regular contact with key suppliers and strictly monitors delivery times. For the 1^st half and to date, no major supply disruptions in Europe and the United States have been seen.