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Sogeclair: Consolidated turnover for the 1st half 2021

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Blagnac, France, July 21th 2021-5.35pm,

Montreal, Canada

Consolidated turnover for the 1st half 2021: -14.2% at €59.1M
At constants exchange rate and perimeter*: -7.7%

SOGECLAIR, designer and manufacturer of innovative high added-value solutions for the mobility, announces today its consolidated turnover for the 1st half 2021, ending on June 30th 2021. The turnover declines by 7.7% at constants exchange rate and perimeter due to a high base effect in the first quarter of 2020 pre-Covid-19. Important to note, an overall turnover increasing for the fourth consecutive quarter up to €30.4 million.

* Exchange rate variations over the period represent €1.5M compared to €0.4M in 2020.
Changes in the scope of consolidation over the period represent -3.3M (reorganization in Germany).

By division

Turnover (€ million)
H1-2021

Turnover (€ million)
H1-2020



Variation as %

Aerospace
At constants exchange rate and perimeter

44.7
45.8

51.2
47.6

-12.7%
-3.8%

Simulation
At constants exchange rate and perimeter

13.9
14.0

17.2
17.2

-19.2%
-19.0%

Vehicle

0.5

0.4

+6.0%

Total

59.1

68.9

-14.2%

International

28.1

37.3

-24.7%

Differences are due to rounding.

The Aerospace division (75.7% of turnover): the activity picks up significantly in the second quarter. The German subsidiary has restarted its activity since 1st March. With an increase of 35.3% in the first half, business aviation represents 43.9% of the group turnover. It jumps to +94% in the second quarter. After a first quarter that was affected by the high base effect of the first quarter of 2020, commercial aviation (-46.9% in the first half) recovered significantly with +26.4% in the second quarter.

The Simulation division (23.5% of turnover): falls by -13.2% due to the end of the large automobile simulators. The rest of the activity is growing, despite the ransomware attack which cost nearly 1 million euros of activity in the second quarter by blocking production for a month in the OKTAL SYDAC scope. Adjusted for this impact, the turnover for the 2nd quarter is virtually stable. The entry of Dassault Systèmes into the capital of the subsidiary A.V.Simulation at the beginning of 2021 supports R&D and the commercial deployment plan for 2022 and beyond.

The Vehicle division (0.8% of turnover) grows by 6%. It remains subject to the decision cycles of the public sectors. International commercial activities are sustained.

By geographical area

H1 2021 Turnover
(€ million)

Impact on Turnover
(as %)

Evolution

(as %)

France

31.0

52.5%

-1.9%

Europe

12.0

20.3%

-38.6%

America

12.5

21.2%

-13.3%

Asia-Pacific

3.2

5.4%

+21.2%

Rest of the world

0.4

0.6%

-42.2%

Differences are due to rounding.

In the second quarter, all geographical area increase except Europe which decline slightly by 3.9%. Asia Pacific at +45.5%, America at +30% and France at +23.7% are the most dynamics.

By activity

H1 2021 Turnover
(€ million)

Impact on Turnover
(as %)

Evolution

(as %)

Development (service)

13.7

23.3%

+6.0%

Serie (service)

18.7

31.7%

-18.0%

Products

26.6

45.0%

-19.6%

All segments increase during the 2nd quarter, service activities recover more rapidly with development at +67.3%, benefiting from the dynamics of business aviation, and serie at +18.3%, driven by the best perspectives for commercial aviation. Products grow by +3.4%, considering the decline linked to the simulation.

Perspectives

The expected positive dynamic is confirmed quarter after quarter, the low point in activity is now behind. The government support and recovery plans allow R&D to be maintained at a high level. The adaptation that has been achieved allows us to focus on the transformation plan that will be presented in September, when the results for the first half of 2021 are published.

Next announcement: results for the 1st half 2021, on September 08th 2021 after closing of the Stock Market

About SOGECLAIR
Designer and manufacturer of innovative high added-value solutions, SOGECLAIR brings its skills in high-quality engineering and production to a broad range of cutting-edge sectors, notably aeronautics, space, vehicle, rail and defense. Supporting its customers and partners from the design and simulation stages through to the end of the product’s lifetime, all along the production chain through to entry into service, the collaborators are working worldwide to offer a high-quality, proximity support to all its customers.
SOGECLAIR is listed on Euronext Paris – Compartment C – Euronext® Family Business Index -Code ISIN: FR0000065864 – PEA PME 150 / (Reuters SCLR.PA – Bloomberg SOG.FP)
Contacts:

Philippe ROBARDEY, President & CEO of SOGECLAIR / Marc DAROLLES, Executive Vice President of SOGECLAIR /www.sogeclair.com - +33(0)5 61 71 70 33

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