GROUPE GORGE : Revenue growth for Q1 across all divisions (+13.6%)
|Q1 Revenue in €M||Q1 2016(1)||
|Smart Safety Systems||19.5||17.7||+10.4%|
|Industrial Projects & Services||25.7||24.1||+6.4%|
|Protection in Nuclear Environments||9.5||8.6||+9.9%|
|Structure & Disposals||(0.3)||(0.2)||-|
- Unaudited figures
Groupe Gorgé's consolidated revenue amounted to €60.3 million or Q1 2016, compared to €53.1 million in 2015 (+13.6%) driven by the good performance across all divisions.
Revenue for the Smart Safety Systems division amounted to €19.5 million for Q1 2016 compared to €17.7 million (+10.4%) in 2015.
The Simulation division strongly contributed to the positive performance of this division, with revenue growth of +26.2% for Q1 2016. This significant increase in revenue is partly due to the delivery of part of the January 2014 order for several high-end 6-axis simulators for land defense vehicles (see Press release of January 16, 2014).
Revenue for the Industrial Projects and Services division was €25.7 million compared to €24.1 million for Q1 2015, i.e. an increase of 6.4% compared to an already high level for Q1 2015.
The division's order intake, with growth of 18% compared to March 31, 2015, provides the Industrial Projects and Services division with good visibility for the rest of the financial year.
The Protection in Nuclear Environments division also showed revenue growth for Q1 (+9.9%) with revenue of €9.5 million (€8.6 million for Q1 2015). This division, which saw numerous project shifts in 2015 that penalized revenue during the 1st half-year, regained a good level of activity at the start of this financial year.
Lastly, the 3D printing division generated a very good level of revenue for Q1 with €5.9 million growth of +105.9% compared to Q1 2015), multiplying its order backlog by 1.5 and order intake by 3 compared to the same period the previous year (March 31, 2015).
At comparable scope (the INITIAL company acquired at the beginning of April 2015 only contributed to revenue from Q2 2015), this division continues to post strong growth: nearly 30% compared to the previous financial year.
A confirmed solid outlook for all the Group's businesses
Order intake amounted to €71.6 million at March 31, 2016, an increase of 4.9% compared to March 31, 2015.
For the whole financial year, the Group expects organic revenue growth, driven, in particular, by the positive outlook in its mobile robotics and drones activity. Two significant successes in the Robotics and Integrated Systems and Simulation divisions have already been announced since the start of the year (see Press Releases of February 15 and March 9, 2016).
After very strong growth in 2015 (+25.7% vs. 2014) marked by commercial successes, the Industrial Projects and Services division should continue this positive trend in 2016. Two new Directors took up their positions during Q1 at the head of the division's two subsidiaries. These changes should also enable these subsidiaries to achieve better operational efficiency during the year.
The Protection in Nuclear Environments division should see a good level of activity over the medium term, driven, in particular, by the restarting of major construction projects for new plants internationally and significant investments in the existing electro-nuclear plants.
The proposed acquisition of one of the Group's historical competitors, the PORTAFEU Company, is still on-going. This transaction should be completed during the second quarter.
In the 3D Printing division, the good level of the order backlog at March 31, 2016 (€4.5 M) leads us to expect continued significant revenue growth in a more mature 3D printing market. Today, the Group considers that it has a well-positioned offering, centered on professional industrial 3D printing, used for rapid manufacturing and not just for prototyping. The numerous development milestones achieved during 2015 (acquisition of INITIAL, Norge Systems and Exceltec, technological partnership with the Hunan Farsoon Company, acquisition of a stake in Varia 3D) should allow the Group to continue its growth and achieve a monthly operating balance during the year.
To date, the Management is still aiming for revenue that may exceed €280 million in 2016.
Next key date:
Publication of revenue for the 1st half-year on July 26, 2016.
This press release could contain statements on past events and forward-looking statements including statements regarding future goals or targets. Forward-looking statements reflect current expectations for results and future events.
Such forward-looking statements and targets depend on known and unknown risks, uncertainties and other factors that may cause actual results, performance or events to differ materially from those anticipated herein. All these risks and uncertainties could affect the Group's future ability to achieve its targets. Risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in the forward-looking statements and targets include, among other things: the risks and uncertainties possibly mentioned in this press release; the strength of competition; the growth of the market; currency fluctuations; interest rate fluctuations; raw materials and freight price fluctuations; armed conflicts or political instability; control of costs and expenses; changes in tax legislation, rules, regulation or enforcement; our ability to successfully keep pace with technology changes; our ability to attract and retain qualified personnel and key-men; the evolution, interpretation and uniform application and enforcement of International Financial Reporting Standards (IFRS), according to which we prepare our financial statements; supply chain bottlenecks; the performance of our business partners (subcontractors, agents, suppliers, etc.).
Some of these risk factors are set forth and detailed in our Document de Référence (Registration Document including the annual financial report filed with the French Autorité des Marchés Financiers). This list of risks, uncertainties and other factors is not limitative. Other non-anticipated, unknown or unforeseeable factors could also have material adverse effect on our targets. The Group expressly disclaims any obligation or undertaking to update or revise any forward-looking statements or targets potentially contained in this press release to reflect any change in events, conditions, assumptions or circumstances on which any such statements are based.
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About Groupe Gorgé
Established in 1990, Group Gorgé is an industrial group operating in different areas of expertise:
Smart Safety Systems – Using technology to work in risk environments;
Protection in Nuclear Environments – Protecting people and securing buildings operating with radioactive materials;
Industrial Projects & Services Conducting Robotics and Fire protection systems projects for industry and service-sector player;
3D Printing – Enabling major industry players to find new routes to successful innovation and production processes by providing systems, 3D printers and new premium material.
In 2015, the Group reported revenue of €264.8 million. It is backed by 1,536 employees and operations in over ten countries.
More information available on www.groupe-gorge.com
Groupe Gorgé is listed on Euronext Paris and on the US OTC market in the form of ADR.
ISIN code: FR0000062671
Ticker code: GOE
|US OTC market:
CUSIP NUMBER: 399451 103
ISIN NUMBER: US3994511034
Ticker Code: GGRGY / GGRGF
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