Sogeclair: Consolidated turnover for the 1st half 2022: +14.3% at €67.6M

Blagnac, France, July 20th 2022-5.35 pm,Montreal, Canada

Consolidated turnover for the 1st half 2022: +14.3% at €67.6MAt constants exchange rate and perimeter*: +11.0%

SOGECLAIR, supplier of innovative solutions with high added value for a safer and less-consuming mobility announces today its turnover for the 1st half 2022, ending on June 30 2022.

* The change variations over the period represent €1.5M against € -1.5M in 2021.   The scope variations over the period represent €-0.4M.

The ONE SOGECLAIR strategic plan for a more premium, more attractive and more transversal repositioning has led to the implementation of the new organization on 1st January 2022. For the 2nd consecutive quarter, SOGECLAIR is presenting its turnover according to this new organization. The 2021 comparison is pro-forma.With a 2nd quarter at +11.9%, this is the 5th consecutive quarter of increased turnover. To be noted over the half-year is the strong rebound of commercial aviation +51%, rail +28% and the good performance of business aviation +3%, which more than compensate for the drop in automotive -24%.

By Business Unit Turnover (€M)H1-2022 Turnover (€M)H1-2021** Variation (as %)
 EngineeringAt constants exchange rate and perimeter 36.2 35.3 32.1 32.1 +12.6% +10.2%
 SolutionsAt constants exchange rate and perimeter 31.1 30.0 27.0 27.0 +15.2% +10.9%
 Conseil  0.3 - NS
 Total  67.6 59.1 +14.3%
 International  31.0 28.1 +10.4%

Differences are due to rounding.

**The turnover for the Q1 2021 is reported on a pro-forma basis

The Engineering Business Unit - support activity for manufacturers in the development of their products, processes and product life cycle - (53.5% of turnover) increases by 12.6% over the 1st half of the year, including 10.9% in the 2nd quarter, driven by the growth in commercial aviation. As a reminder, SOGECLAIR has won the EMES3 referencing from Airbus (all entities) for a period of 5 years from 2022 to 2027, has obtained the Diamond supplier label for Bombardier Aerospace and has started manufacturing engineering activities for the Dassault Falcon 10X.

The Solutions Business Unit - equipment manufacturer activity - (46.0% of turnover) grows by 15.2% in the first half, including 11.7% in the second quarter. It progresses in all the aeronautical, rail and defense segments despite the significant drop in the automotive sector (-24.7%).It should be noted that UTAC has joined the capital of AVSimulation (a subsidiary of SOGECLAIR) with a 15% stake in order to accelerate the development of vehicle tests in a virtual environment. After this operation, Oktal (Sogeclair) still holds 55.25%, Dassault Systèmes 15%, UTAC 15% and Renault Group 14.75% of AVSimulation. 

The Conseil Business Unit - auditing, consulting and optimization of technologies and processes - (0.4% of turnover – 0.6% over the quarter): newly created activity increases (x2.2) compared with the first quarter thanks to orders in the aeronautics and space sectors.

 By geographical area H1 2022 Turnover(€M) Impact on Turnover (as %) Evolution(as %)
France 36.5 54.1%  +17.9%
Europe 13.1 19.4% +9.0%
America  13.0  19.3%  +4.1%
Asia-Pacific 4.6 6.7% +43.0%
Rest of the world 0.3 0.5% -9.1%

                                                                                                                    Differences are due to rounding.

All geographical area are increasing with €+8,465k, only the rest of the world (Africa and South America) is decreasing by 9.1% which is equivalent to €-34k over the period.

Perspectives

The implementation of the ONE SOGECLAIR plan and the evolution of the organizations underway will support the capacity for growth to reach €250M of activity in 2030.

The 2022 turnover is in line with an expected 2-digit growth.

Next announcement: turnover for Q3 2022, on November 02nd 2022 after closing of the Stock Market

About SOGECLAIRSOGECLAIR provides consulting services, engineering and technological products to the aeronautical, aerospace, vehicle, railway and defence sectors. Its employees are spread over 4 continents.SOGECLAIR is listed on Euronext Paris – Compartment C – Indice Euronext® Family Business -Code ISIN: FR0000065864 / (Reuters SCLR.PA – Bloomberg SOG.FP) Contacts: Philippe ROBARDEY, President & CEO / Olivier PEDRON, Operating Chief Officer / +33(0)5 61 71 70 33

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