ACTIA Investors

SECOND QUARTER 2022 TURNOVER

ACTIA GROUP

Second quarter 2022 turnover

IFRS, (€m)2022(1)2021 proformaVar.2021 published
Q1114.4108.9+5.1%113.2
Q2134.1107.4+24.8%112.2
ow Automotive Division112.593.5+20.3%98.3
Telecoms Division21.513.9+55.1%13.9
H1248.5216.3+14.9%225.5
ow Automotive Division213.8189.2+13.0%198.3
Telecoms Division34.627.1+27.8%27.1
Power Division(2)    
Q14.14.4(5.3%)NA
Q23.14.8(34.5%)NA

(1) Unaudited data. (2) Business undergoing disposal at 30/06/22, sold on 01/08/22.

ACTIA enjoyed growth of 24.8% over this second quarter, following a first quarter up by 5.1%. All market segments progressed across the period with the exception of Light Vehicles, in connection with the previously announced end to the Volvo Car contract. This tremendous progress nevertheless continued to be hampered by the ongoing supply difficulties for components, which made it impossible to produce around twenty percent of all the orders placed by customers. At this stage, suppliers have given no reason to believe that a significant improvement is to be expected. Against this background, the consolidated turnover for the first half of 2022 reached €248.5m, up by 14.9% compared to the same period in 2021, taking into account IFRS restatements for the businesses sold or undergoing disposal.

In the second quarter, the sales of foreign subsidiaries amounted to €59.4m, an improvement of 10.8%. Up by 38.7% at €74.6m, the French companies’ revenues benefited from a sharp upturn in the Telecoms business. International customers represented 63.7% of second quarter sales compared to 68.3% for the same quarter in 2021. Despite a further period of lockdown being imposed on ACTIA’s Chinese subsidiary, sales to international customers grew by 9.3%, demonstrating the dynamism of the Group’s markets. Over the first half, international customers represented 64.9% of consolidated turnover, with the decline in Sweden (Volvo Car) having been largely offset by growth in France.

The Automotive Division generated 83.9% of the Group’s quarterly sales, amounting to €112.5m. Growth, at 20.3% nevertheless remained dampened by the components crisis. The mobilisation shown by the teams in managing the shortages and the flexibility of our production plans has allowed ACTIA to limit the impact on its customers and achieve, despite the end of the telematics contract with Volvo Car, growth of 15.1% in the OEM business*, which was 73.6% of the division’s turnover. Due to the disposal of the Technical Inspection and Garage Equipment business on 21 April 2022, the Aftermarket business** suffered a decline of 35.8% and represented only 6.1% of turnover generated by the Diagnostics and Fleet Management businesses retained within the Group. The electronics outsourcing or MDS business***, at 20.3% of the division’s turnover, grew by 111.0%, reflecting both the customers’ trust in ACTIA’s industrial facilities and the healthy condition of certain sectors, such as Home Automation, or the recovery of others, such as Aeronautics.

The Telecoms Division represented 16.1% of the Group’s quarterly sales. The growth of 55.1% bears witness, after a stable first quarter, to the delays suffered by certain deliveries. All sectors grew across the period, even if the Energy sector remained more sensitive to the shortage of components.

2022 OUTLOOK

With an order book that speaks of strong growth that the recent disposals in no way compromise, ACTIA hopes to achieve growth in excess of 10% over the full year while working to further improve that figure. The lack of reliable information provided by many components manufacturers about the outlook for supplies limits visibility for the second half, while the various ongoing international geopolitical and health issues could still affect supply chains even more. ACTIA has taken these factors into consideration when preparing its forward-looking statements, and intends, thanks to the mobilisation of its teams, to ensure the continuity of its deliveries and actively manage production in pursuit of further growth. The hedging instruments used certainly played their role as buffers but were not able to provide full protection from the steep drop in the value of the euro against the US dollar and the consequent impact on supply costs.

You will recall that, in its press release of 1 August 2022, ACTIA announced the finalisation of the disposal of ACTIA Group’s Power Division to Plastic Omnium in the amount of €52.5m. This transaction, as well as the disposal in the area of Technical Inspection in April, reinforces ACTIA’s financial structure by contributing to reducing its levels of debt by about €60m, thus providing greater room for manoeuvre to finance its growth.

ACTIA reaffirms its objective of achieving turnover in excess of €800m within the next 4 years.

*OEM: Original Equipment Manufacturer
**Aftermarket: including maintenance and repairs
*** MDS: Manufacturing Design & Services

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ABOUT ACTIA

ACTIA Group is a mid-market company (ETI) founded in 1986. It is at once family-owned and international and its head office is located in France. The family aspect guarantees the long-term future of the Group and its independence with an ever-present entrepreneurial spirit. ACTIA’s business is to design and produce electronics to control systems in the particularly demanding fields of the automotive, rail, aeronautics, space, defence, power and telecommunications industries.

The commitments made by ACTIA are reflected in the Group’s ambitious contributions to addressing societal issues: mobility, connectivity, safety and the environment. Control over the design and production of products bearing the ACTIA signature is a true guarantee of quality. Without exception, all Group employees share this belief in quality in a fully certified environment.

KEY FIGURES

  • 2021 turnover: €462.9m.
  • More than 3,500 employees around the world, including over 1,000 engineers and technicians working in R&D.
  • Present in 16 countries.
  • 14 to 18% of revenue reinvested every year in R&D.

STOCK EXCHANGES

  • Euronext C
  • ISIN FR0000076655 – Mnemonic: ATI Reuters: MRSP.PA – Bloomberg: AIELF: FP
  • Indices: CAC ALL SHARES – CAC ALL-TRADABLE – CAC INDUSTRIALS – CAC MID&SMALL – CAC SMALL – EN TECH CROISSANCE – GAÏA INDEX

CONTACTS

ACTIA – Catherine Mallet – Tel: +33 (0)561 176198 – contact.investisseurs@actia.fr

CALYPTUS – Marie Calleux – Tel: +33 (0)153 656868 – actia@calyptus.net

DATES FOR THE DIARY

H1 2021 results: Tuesday 20 September 2022 (7 am)

SFAF briefing: Wednesday 21 September 2022 (3:30 pm) by video-conference