Resilience of the solid installed base in an exceptional context of global health crisis
- Half year revenue decreased 8.5%; costs contained; stable gross margin & EBITDA margin down from 24.2% to 18.6%
- Half-year sales supported by strong recurrence (87.7%), resiliency driver of ESI’s business model
- Cash management under control (€24.7m vs. €16.3m in June FY19)
- Growing recognition & support for ESI’s value in mission critical industrial transformation
PARIS — (BUSINESS WIRE) — September 10, 2020 — Regulatory News:
ESI Group, (Paris: ESI) (ISIN Code: FR0004110310, Symbol: ESI), today publishes its sales and results for the first half of its 2020 fiscal year (period from January 1st to June 30th), approved by the Board of Directors on September 8, 2020.
Cristel de Rouvray, Chief Executive Officer of ESI Group, comments: “In H1, while we experienced a sudden decrease in our customer’s ability to open new projects, the solidity of our multi-year, mission critical engagements with diversified industry leaders sustained us. As we continue to manage this global pandemic, we are balancing two business imperatives: proactive cost management to optimize near-term financial health and continuation of our transformation plan. The latter gains momentum, reflected in a growing number of customer engagements positioned at the level of “outcome” and mounting interest in ESI’s offer, as evidenced in wide participation at our regular digital events.”
(€m) |
6/30/2020 |
6/30/2019 |
Change |
|
|
6m |
6m proforma |
Current rate |
Constant rate (cer) |
Q1 – Sales |
54.9 |
58.4 |
(6.1%) |
(6.9%) |
Licenses |
48.8 |
50.8 |
(4.0%) |
(4.8%) |
Services |
6.1 |
7.6 |
(20.3%) |
(20.9%) |
Q2 – Sales |
25.9 |
29.9 |
(13.2%) |
(13.5%) |
Licenses |
20.4 |
22.5 |
(9.4%) |
(9.7%) |
Services |
5.5 |
7.4 |
(24.8%) |
(24.9%) |
H1 – Sales |
80.8 |
88.3 |
(8.5%) |
(9.1%) |
Licenses |
69.2 |
73.3 |
(5.6%) |
(6.3%) |
Services |
11.6 |
15.0 |
(22.5%) |
(22.9%) |
Gross Margin |
62.4 |
68.6 |
(9.1%) |
(9.8%) |
% Sales |
77.3% |
77.7% |
|
|
EBITDA ( before IFRS16 1 ) |
15.0 |
21.3 |
(29.5%) |
(31.4%) |
% Sales |
18.6% |
24.2% |
|
|
EBIT ( before IFRS16 ) |
12.5 |
19.6 |
(36.3%) |
(38.4%) |
% Sales |
15.4% |
22.2% |
|
|
IFRS 16 – Impacts |
|
|
|
|
- EBITDA |
3.0 |
2.8 |
|
|
- Operating Result |
0.2 |
- |
|
|