LACROIX Group

Annual results 2019-2020. Proven resilience in the face of the crisis. On course to making the most of recovery. - Seite 4

The Group also continued its investment programme in order to prepare for future growth and take full advantage of the upturn. As such, investments excluding financial investments and changes in scope, amounted to €17.2 million over the period, compared with €11.7 million in the previous year. €2.2 million are related to the 4.0 Symbiose factory project, the timetable for which is still on schedule despite the context. As a reminder, this new site, which receives financial support from BPI, is intended to achieve €100 million in turnover by 2027. Delivery is scheduled for the end of the year.

In total over the period, LACROIX generated €30.8 million in Free Cash Flow (excluding financial investments and excluding the impact of changes in scope).

Lastly, a State-guaranteed loan was obtained in June for €18.5 million. Over the period, debt improved significantly with a gearing ratio of 0.29 at 31 December 2020 compared to 0.54 at 30 September 2019.

With €54.4 million in cash at 31 December, the Group has a healthy financial position, ensuring it has solid means to finance its growth ambitions, whether organic or through acquisitions.

Dividend

A dividend of €0.68 per share will be proposed at the next General Meeting of Shareholders. This proposal includes a 20% reduction in the usual distribution rate to take into account the specific context of 2020.

Presentation of the new strategic plan on 7 April

While the signs of economic turnaround have been confirmed over recent months, LACROIX is fully operational and ready to return to a positive trajectory both in terms of growth and progression in its profitability.

The Group is also expected to continue to benefit from the significant contributions of its latest acquisitions, whether in industrial IoT and artificial intelligence with eSoftThings (acquisition carried out in July 2020) or in the buoyant Smart Grid market with SAE IT Systems (acquisition carried out in February 2019).

Given these encouraging prospects, new ambitions will be unveiled when the new strategic plan is presented on 7 April 2021. This plan will be an opportunity to share the strategic objectives and priorities that will drive the Group’s development for the next five years.

Upcoming dates

Presentation of strategic plan: 7 April 2021 before market open
Revenue for the 1st quarter of 2021: 10 May 2021 after market close

See our financial information in our investor section