Sogeclair

Turnover for 2020

Blagnac, France, February 03^rd 2021-5.35 pm,

Montreal, Canada

Turnover for 2020: decline by 33.5%: €123.1M

SOGECLAIR, designer and manufacturer of innovative high added-value solutions for mobility, announces today its turnover for 2020. It decreases by 33.5% (33.1% at constant exchange rate).
The aeronautics and automotive sectors were severely penalized, from mid-March 2020, by the Covid-19 health crisis. SOGECLAIR, which achieved more than ¾ of its activity in these two sectors, saw its turnover fall by 33.5%.
Measures were taken without delay to meet the challenges of this crisis:

• Reduction of the workforce (-350 departures at the end of 2020 and around 150 departures at the beginning of 2021, i.e. a total of 30% of the workforce) and the setting up of partial activity,
• Closure of the subsidiary in Morocco, legal simplification in Canada and turnaround of the German subsidiary,
• Restructuring costs were provisioned as of June 2020 in the accounts for the first half of the year. The second half of the year was devoted to the successful completion of the adaptation measures and to preparing for the future.

By division	Turnover (€ million) 2020	Turnover (€ million) 2019	Variation as %
Aerospace        At constant exchange rate	90.5  91.0	147.8 147.8	-38.8% -38.4%
Simulation        At constant exchange rate	31.0 31.1	34.9 34.9	-11.4% -10.9%
Vehicle	1.6	2.2	-29.2%
Total	123.1	185.0	-33.5%
International	64.9	104.7	-38.0%

Aerospace division (73.6% of turnover) accounted for 92.5% of the decline in activity, it’s commercial aviation (34% of turnover) which experienced the greatest decline at -48%, while business aviation (33% of turnover) held up better at -28% and space (4% of turnover) is almost stable at -7% (effect of the first containment). Some great technical and commercial successes have been achieved: