Bollène, 10th January 2019 - 7:00pm (CET)

2018 4th Quarter Revenue
2018 Revenue

  • 2018 revenue was 31.69 million euros, in line with expectations
  • A good overall yearly performance for the US entities
  • Excellent performance of HTCC ceramic sales at Egide USA
  • Confirmation of the stabilization of the activity at Santier as order intake rebounded in the Q4
  • Growth of revenues in 2019 is expected in all business units, especially in H2

Egide Group's unaudited consolidated revenue grew by 2.6% to € 31.69 million in 2018, in line with the forecast published at the time of the publication of the S1 results of € 31.60 million. On a like-for-like basis and constant currency effects, revenue in 2018 was stable. Sales of US entities now represent 55% of the group's total turnover.

Fourth-quarter sales amounted to € 7.79 million, which was a 1.8% increase over the previous quarter.  Compared to Q4 - 2017, there was -6.3% at real exchange rate (-8.1% at constant exchange rate).

HIGHLIGHTS BY BUSINESS UNIT

Thousand of euros Q4 2017 Q4 2018* Var. % Change on a comparative basis ** FY 2017 FY 2018* Var. % Change on a comparative basis ***
Egide SA 4,587.5 3,445.9 -24.9% -24.9% 15,563.6 14,305.1 -8.1% -8.1%
Egide USA 1,697.6 2,443.8 44.0% 41.0% 7,246.2 8,454.2 16.7% 22.1%
Santier 2,021.6 1,896.4 -6.2% -11.3% 8,081.6 8,931.2 10.5% -4.1%
Group 8,306.8 7,786.1 -6.3% -8.1% 30,891.4 31,690.5 2.6% 0.0%

* unaudited    ** At constant exchange rates *** At constant perimeter and exchange rates

As expected, the difficult environment in which Egide SA operates has temporarily impacted the group's turnover in the second half of 2018, as well as the competitive environment of Santier's heat sink market. Egide SA has faced a drop-in demand from one of its main customers. The very good level of revenue of Santier in the first half does not compensate for the deceleration in revenue at the end of the year.  However, Santier realized a rebound in the order intake in Q4, suggesting a rapid stabilization of business for the beginning of 2019.

Egide USA's HTCC ceramic product sales have contributed positively to the overall growth of the Group in 2018 with over $1.4 million added during the year (combined sales of Egide USA and Santier's orders manufactured at Cambridge).

For information, the average euro / dollar parity in 2018 was 1.18143 against 1.12929 in 2017.


REVENUE PER APPLICATION

Thousand of euros Q4 2017 Q4 2018* Var. % Change on a comparative basis ** FY 2017 FY 2018* Var. % Change on a comparative basis ***
Power 1,588.6 1,530.8 -3.6% -6.7% 6,540.7 6,045.0 -7.6% -5.2%
RF/MW 1,742.8 1,422.9 -18.4% -21.0% 5,973.3 6,152.4 3.0% -10.5%
Optronics 968.2 1,394.9 44.1% 39.9% 4,162.1 5,624.7 35.1% 28.3%
Thermal Imaging 3,258.5 2,590.9 -20.5% -20.4% 10,949.0 10,438.1 -4.7% -3.2%
Others 748.6 846.5 13.1% 10.3% 3,266.3 3,430.3 5.0% 4.6%
Group 8,306.8 7,786.1 -6.3% -8.1% 30,891.4 31,690.5 2.6% 0.0%

* unaudited    ** At constant exchange rates *** At constant perimeter and exchange rates

Thermal Imaging
The downturn in activity of the Thermal Imaging market segment in EU was partially offset by market share gains in the US by both Egide USA and Santier. The increases were primarily due to the HTCC ceramic activity in Cambridge, which supported both Egide USA and Santier, and is expected to increase in 2019.

RF/Microwave
The downturn in activity in the EU in this market segment was offset by increases in market share in the US, primarily at Santier. Santier was awarded a large contract by a major defense contractor, which allowed for a 45% increase in revenue within this segment.

Power
Completion of a transfer of product line from Bollène to Cambridge for an aerospace company, indicates the ability of our group to serve similar customers from either the EU or US. The group still has majority market share in the power conversion business.

Optronics
All business units experienced growth as more complex hermetic package requirements find demand in specific applications.

The increase in the miscellaneous segment comes mainly from Santier sales in the medical field, which accounts for 10% of the subsidiary's sales.  There is also demand from clients seeking specific services, such as plating activity.

OUTLOOK

For 2019, the group expects growth at all three business units. The difficult market in the EU and a more complex geopolitical environment especially regarding China-US relations will slow the increase in H1. Based on expectations from our customer base, this situation should be rectified by the end of H1, and we should see improvement in H2 demand. The HTCC ceramic operations in Cambridge will continue to support increases in revenue streams for both Egide USA and Santier, primarily in the thermal imaging market segment. The Bollène team continues to work with key clients in China, India and Israel which are considered growth markets in 2019.

FINANCIAL CALENDAR
End of March 2019: 2018 financial results

To find out more about Egide: www.egide-group.com

About Egide
Egide is a group with an international dimension, specialized in the manufacture of hermetic packages and heat dissipation solutions for sensitive electronic components. It operates in cutting edge markets with strong technology barriers to entry in all critical industry segments (Thermal Imaging, Optronics, High-Frequency, Power Units.). Egide is the only pure player in this market niche with manufacturing bases in France and the United States.

Egide's eligibility for tax efficient French innovation-focused mutual funds (FCPI) was renewed on May 14, 2018.

Egide is listed on Euronext Paris(TM)- Segment C - ISIN code: FR0000072373 - Reuters: EGID.PA - Bloomberg : GID

CONTACTS
EGIDE - Finance Department - Philippe Lussiez - +33 1 30 68 81 00 - plussiez@fr.egide-group.com 
INBOUND CAPITAL - Investor Relations - Frédéric Portier - +44 7802 533333 - fportier@inbound.capital
FIN'EXTENSO - Press Relations - Isabelle Aprile - +33 1 39 97 61 22 - i.aprile@finextenso.fr

EGIDE : 2018 4th Quarter Revenue & 2018 Revenue


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Source: EGIDE via Globenewswire