Lectra Report A Very Strong Increase In Revenues And Earnings In 2021 Thanks To The Rebound In Activity And The Acquisition Of Gerber Technology, Neteven & Geminicad
Revenues: 387.6 Million Euros (+64%)
EBITDA Before Non-Recurring Items: 65.1 Million Euros (+74%)
Net Income: 28.2 Million Euros (+61%)
Free Cash Flow Before Non-Recurring Items: 47.5 Million Euros
Dividend : €0.36 Per Share (+50%)
Paris, February 9, 2022. Today, Lectra’s Board of Directors, chaired by Daniel Harari, reviewed the consolidated financial statements for the fiscal year 2021.
Orders for perpetual software licenses, equipment and accompanying software, and non-recurring services (117.8 million euros) increased by 44%. The annual value of new software subscription orders (6.1 million euros) more than doubled compared to 2020.
Revenues (279.1 million euros) increased by 19% (+18% at actual exchange rates) compared to those of 2020, which had suffered the effects of the health crisis.
Revenues from perpetual software licenses, equipment and accompanying software, and non-recurring services (107.6 million euros) increased by 40%, those from recurring contracts (102.9 million euros) by 4% and those from consumables and parts (68.6 million euros) by 18%.
Income from operations before non-recurring items (40 million euros) increased by 61% compared to 2020 (+56% at actual exchange rates) and the operating margin before non-recurring items (14.3%) was up 3.8 percentage points (+3.4 percentage points at actual exchange rates).
Acquisitions Of Gerber, Neteven And Gemini
On February 8, 2021, Lectra announced having entered into a Memorandum of Understanding to acquire the entire capital and voting rights of the US-based company Gerber Technology.
It then announced, on June 1, 2021, having finalized this acquisition.
The Company then finalized on July 28, 2021, the acquisition of the French company Neteven, and finally announced on September 6, 2021, the signature of an agreement to acquire the entire capital and voting rights of the Romanian company Gemini .
Gerber (since June 1), Neteven (since July 28) and Gemini (since September 27) have contributed 106.6 million euros, 1.4 million euros and 0.5 million euros to revenues, respectively. Gerber's contribution to EBITDA before non-recurring items was positive 13.3 million euros, Neteven's and Gemini’s contribution was 0.2 million euros overall.
Outlook
While uncertainties persist regarding the evolution of the pandemic and its impacts on the macroeconomic environment (e.g., inflation, difficulties in the automotive industry, and transportation costs), and could continue to weigh on investment decisions by the Group's customers, still the rebound in orders and in earnings recorded in 2021 have confirmed the relevance of Lectra’s strategy and the strength of its business model.
The acquisitions made in 2021, and particularly the acquisition of Gerber, give the Group a new dimension and open new perspectives.
At the same time, the new offers for Industry 4.0 are increasingly contributing to revenues and earnings.
Finally, the very strong balance sheet, with shareholders' equity of 400 million euros and net financial debt held at 9 million euros at December 31, 2021, enables the Group to implement its long-term strategy in a serene manner.
