ANNUAL RESULTS FOR 2020
Consolidated turnover: €123.1M so that's -33.5% (of which International -38.0%)
EBITDA (1): €6.5 M
Provisions and charges related to the Covid-19: €14.4 M
SOGECLAIR, designer and manufacturer of innovative high added-value solutions for the mobility announces today its financial results for the year ended December 31st 2020.
In a market context marked by the Covid-19 pandemic, SOGECLAIR has been reactive:
- Adaptation measures were initiated as of the 1st half of 2020 (legal simplification, turnaround of the German subsidiary, adaptation of the workforce).
- At the same time, commercial successes have been achieved with the winning of multi-year contracts, particularly for the Aerospace division.
Overall, the decisions taken in the first half of 2020 have enabled a return to profitability from the second half of 2020.
Activity
Commercial aviation, heavily penalized by the effects of Covid-19, declined by 48% over the year. After the first quarter of 2020, business aviation became the Group's largest market, representing almost twice as much as commercial aviation.
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