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Generix Group - Half-year 2021/2022 Results | EBITDA rate 13,5%

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  • GENX.PA

PRESS RELEASE

Paris, December 8, 2021

H1 results 2021/2022

Ebitda rate: 13.5%

Continued strategic investments in R&D

Strengthening of sales and marketing forces, particularly in North America

Generix Group, Industrial, Logistics and Retail Ecosystems provider with leading Collaborative SaaS Solutions, published today its half-yearly results to September 30, 2021.

Key figures as of September 30, 2021

Six months ended September 30,

Variation

IFRS consolidated accounts, in millions of Euros

2021

2020

M€

%

Key elements of the consolidated income statement

Revenues

41,5

38,1

3,4

9%

EBITDA

5,6

5,4

0,2

3%

Operating income

4,1

3,4

0,8

22%

Financial result

- 0,3

- 0,2

- 0,1

35%

Income taxes benefit

- 1,0

- 1,1

0,1

-10%

Net profit Group share

2,8

2,0

0,8

38%

Key elements of the consolidated Balance Sheet

Net debt

- 13,5

- 14,1

0,5

-4%

Free cash flow

- 2,1

- 1,1

- 1,0

85%

The company recorded revenues of €41.5 million for the first half of the 2021-2022 fiscal year, up 9%. The first half of the year was marked by strong sales momentum and new SaaS contracts across the entire range of products. SaaS signatures amounted to €2.3 million, up 98% compared with the first half of the previous year and 72% compared with the pre-crisis level (first half of 2019/2020).

At the end of September 2021, Generix Group posted EBITDA of €5.6 million, up 3% compared to the first half of the previous year. The EBITDA margin remains almost stable at 13.5% (14.2% in H1 2020/2021).

Over this period, Generix Group has continued to invest in R&D innovation. These enable it to meet the market's new needs and support its customers' transformation towards more agile organizations, in response to the accelerating digitalization of the economy. Investments in Sales and Marketing have continued, particularly in the North American market. At the same time, Generix Group has improved its productivity and achieved cost savings, thus increasing its profitability before the second half of the year.

Non-cash items showed a positive evolution, mainly due to the increase in the activated amount of software development costs, and showed a current operating income of 4.1 million euros, or 10% of revenues (8.9% for the 1st half of 2020/2021).

After taking into account the financial result and the tax effect, net income amounted to 2.9 million euros, compared to 2.1 million euros for the first half of the previous fiscal year.

A healthy and solid financial structure

At the end of September 2021, the financial situation remains solid with a cash position of €7.4 million and net debt (IFRS16) of €13.5 million.

The cash flow statement shows the cash flows between March 31 and September 30, 2021 compared to the same period of the previous fiscal year. Between these two dates, working capital requirements increased by €0.8 million due to the growth in activity and the usual seasonality of invoicing for annual maintenance contracts (invoiced at the beginning of the calendar year and recognized as revenue throughout the year)

The cash flow statement also shows a 1.5 million increase in loan repayments following the postponement of certain loan repayments to the first half of 2020/2021 in connection with the health crisis, as well as the start of the repayment of the loan taken out in the second half of 2020/2021 for the acquisition of Generix Soft Group Romania

Forecast

The Group is experiencing strong sales momentum during the current fiscal year. Business in North America grew by 22% over the past six months. However, this performance is still below expectations and Group's potential in this region. Generix Group has appointed Ludovic LUZZA as new General Manager of its North American entity to consolidate the development of this high-potential market. In this context, the Group expects its revenue growth to be a few points lower than the double-digit growth previously expected, but nevertheless higher than the pre-crisis revenue for fiscal 2019-2020.

In addition, Generix Group expects the momentum of its SaaS signatures to continue and its Ebitda margin to remain stable as of March 31, 2022 compared with the previous year.

In the mid-term, the Group intends to deploy its software offering in all its regions, develop its consulting offer and strengthen its indirect distribution strategy, while maintaining the same objective of operational excellence in the service of its customers.

Supplemental and non-IFRS Financial Information

Supplemental non-IFRS information (above-mentioned as EBITDA) presented in this press release is subject to inherent limitations. It is not based on any comprehensive set of accounting rules or principles and should not be considered as a substitute for IFRS measurements. Also, the Company’s supplemental non-IFRS financial information may not be comparable to similarly titled non-IFRS measures used by other companies.

The half-yearly financial report as of September 30, 2021 is available for download at:

https://www.generixgroup.com/fr/list-financial-documents

Next financial press release: January 27, 2022 after the market closes

Publication of revenue for the third quarter of 2021/2022 fiscal year

About Generix Group

Generix Group is a Collaborative Supply Chain expert present in 60 countries, thanks to its subsidiaries and network of partners. More than 6,000 companies around the world use its SaaS solutions. The group’s 800 employees provide daily support for such customers as Carrefour, Danone, FM Logistic, Fnac-Darty, Essilor, Ferrero and Geodis in the digital transformation of their Supply Chain.

Its collaborative platform, Generix Supply Chain Hub, helps companies to keep the promises they make to their customers. It combines the capabilities to execute physical flows, digitalize information flows, manage collaborative processes and connect companies to all their partners, in real time.

Generix Supply Chain Hub is aimed at all players in the Supply Chain: manufacturers, third- and fourth-party logistics providers (3PL/4PL) and retailers.

Founded in France in 1990, the company is listed on the Eurolist market of Euronext Paris, compartment C (ISIN: FR0010501692). To learn more: www.generixgroup.com

Appendices

Six months ended September 30,

Variation

IFRS consolidated accounts, in millions of Euros

2021

2020

M€

%

Revenues

41,5

38,1

3,4

9%

Other income from operations

2,0

1,9

0,1

7%

Operational expenses (2)

- 37,9

- 34,5

- 3,4

10%

Other purchases and external charges

- 8,9

- 9,5

0,7

-7%

Personnel costs

- 27,1

- 23,4

- 3,7

16%

Taxes and similar payments

- 0,8

- 0,8

- 0,1

11%

Other

- 1,0

- 0,8

- 0,2

26%

EBITDA (1)

5,6

5,4

0,2

3%

EBITDA margin

13,5%

14,3%

Software design costs activated net of depreciation

1,1

0,7

0,4

54%

Net depreciation and provisions

- 2,3

- 2,4

0,1

-4%

Expenses relative to free shares

- 0,3

- 0,3

0,1

-22%

Recurring operating income

4,1

3,4

0,7

21%

Other operational income and expenses

-

- 0,0

0,0

-100%

Operating income

4,1

3,4

0,8

22%

Financial result

- 0,3

- 0,2

- 0,1

35%

Income taxes benefit

- 1,0

- 1,1

0,1

-10%

Net result after tax

2,9

2,1

0,8

38%

Net profit Group share

2,8

2,0

0,8

38%

(1) EBITDA = current operating income + net provisions on current assets + net provisions for risks and charges + depreciation on fixed assets + Expenses relative to free shares - capitalized production costs.

Six months ended September 30,

Variation

Net debt, in millions of Euros

2021

2020

M€

%

Cash and cash equivalents, end of period

7,4

7,7

- 0,3

-4%

Short-term and long-term portions of financial obligations

- 20,9

- 21,8

0,9

-4%

Net debt

- 13,5

- 14,1

0,5

-4%

Six months ended September 30,

Variation

Consolidated statements of cash flows, in millions of Euros

2021

2020

M€

%

Net income adjusted by non-cash items

5,7

5,5

0,2

4%

Change in working capital

- 5,5

- 4,7

- 0,8

16%

Net cash by operating activities

0,2

0,8

- 0,6

-70%

Net cash used in investing activities

- 2,4

- 1,9

- 0,4

22%

Free cash flow

- 2,1

- 1,1

- 1,0

85%

Net cash by financing activities

- 5,1

- 3,5

- 1,6

47%

Currency effects

0,1

- 0,2

0,3

-142%

Net increase in cash and cash equivalent

- 7,1

- 4,8

- 2,3

48%

Cash and cash equivalent, end of period

7,4

7,7

- 0,3

-4%

Attachment


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