Blue Solutions : 2017 results
22 Mars 2018 - 5:45PM
| 2017 financial information |
March 22, 2018 |
2017 results
The Board of Directors of Blue
Solutions approved the 2017 financial statements at its meeting of
March 22, 2018.
-
Revenue: 81 million euros (-26%);
-
EBITDA: -4 million euros (-120%);
-
Operating income: -19 million euros, compared
with -0.4 million euros in 2016;
-
Net income Group share: -19 million euros,
compared with -0.1 million euros in 2016;
-
Net debt: 31 million euros (gearing: 26%).
2017 revenue
Revenue was 26% below the level in
fiscal year 2016. It includes a 12.5 million euros contribution to
Blue Solutions under a collaboration agreement signed between Blue
Solutions and the entities Bluecar, Bluebus and Bluestorage acting
together.
As announced, revenue change is
attributable to longer battery life, which has resulted in a drop
in sales (1,508 batteries sold, down 39% compared with 2016). Sales
of batteries to Bluebus remained strong (391 batteries sold at
end-December 2017, compared with 413 at end-December 2016), thanks
to the 12m bus deliveries (in particular to the RATP).
2017 EBITDA and operating
income
- EBITDA totaled -4 million euros,
compared with 18 million euros in 2016;
- Operating income amounted to -19 million euros,
compared with -0.4 million euros in 2016.
Operating income was down 19.0
million euros. It included Blue Applications' R&D contribution
to Blue Solutions, the decline in the number of batteries produced
and marketed and the consolidation of Capacitor Sciences (negative
impact of 6 million euros).
2017 net income down compared with 2016
Consolidated net income amounted
to -19 million euros, compared with -0.1 million euros in 2016. It
includes net financial expense of -1.8 million euros (compared with
net financial income of +1.7 million euros in 2016, which included
foreign exchange gains resulting from the revaluation of the
Canadian dollar) and a tax gain of 2 million euros mainly due to
lower tax rate in the US.
Shareholders' equity: 118 million euros | Net debt: 31 million
euros
-
As of December 31, 2017, shareholders' equity
amounted to 118 million euros, on net debt of
31 million euros including more than 12 million euros of capital
expenditure. The ratio of net debt to shareholders' equity was 26%,
compared with 16% at end-2016.
| Blue Solutions key consolidated
figures |
| (in millions of euros) |
2017 |
2016 |
Variation |
| Revenue |
81 |
109 |
-26% |
| EBITDA |
(4) |
18 |
N/A |
| Operating income |
(19) |
(0.4) |
N/A |
| Operating margin
(%) |
(24%) |
(0.4%) |
- |
| Financial income |
(2) |
2 |
N/A |
| Taxes |
2 |
(1) |
N/A |
| Net
income |
(19) |
(0.1) |
N/A |
| Net income,
Group share |
(19) |
(0.1) |
N/A |
| |
|
|
|
| Shareholders' equity, Group share |
118 |
138 |
(21) |
| Net
debt |
31 |
22 |
9 |
| Gearing
(%)(1) |
26% |
16% |
- |
(1) Gearing: ratio of net debt to shareholders'
equity
The audit procedures for the 2017
consolidated financial statements have been completed and the
certification report will be issued after review of the management
report.
Blue Solutions : 2017
results
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Blue Solutions via Globenewswire
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