Sogeclair: annual results for 2024

ANNUAL RESULTS FOR 2024
Consolidated turnover: €157,0M, +6,1% (at constant exchange rate: +5,9%)
EBITDA⁽¹⁾= €16,6M, -0,6%
Net Result= €6,1M, +29,8%

Dividend = €0,96 per share, +2,1%

Blagnac, France, March 12^th, 2025, after closing of the Stock Market.

SOGECLAIR,a supplier of innovative solutions with high added value for a safer and less-consuming mobility publishes its financial results for the year ended December 31, 2024. SOGECLAIR is listed on Euronext Growth in Paris.

The Board of Directors, which met on March 10^th, 2025, has approved the financial statements for the year ended December 31, 2024. The audit procedures on the annual accounts have been carried out.
With EBITDA at 10.5% of turnover, stable at €16.6M, operating income at 4.5% of turnover, up slightly at €7.1M, and net income at 3.9% of turnover, up at €6.1M, all the intermediate operating totals are in line with the execution of the SOGECLAIR 2030 plan.

⁽¹⁾Operating result – other operating income and charges + amortization expenses and operating provisions

HIGHLIGHTS OF THE YEAR:

• Appointment of a Group Human Resources Director through internal promotion (September 2024).
• Obtention of the Gold Air Cyber qualification from Boost-Aerospace (August 2024).
• Deployment of the Group 's digital transformation plan, including a skills management tool.
• Implementation of a corrective action plan for the rail business.
• Improvement in the situation of major automobile simulators.
• Completion of a second carbon footprint (scope 1, 2 and 3) covering 69% of turnover, including the largest production sites of subsidiaries within the group integrated into URD in April 2025.

By geographical area:in the context of the ONE SOGECLAIR organization, the performance measured below corresponds to the location of our subsidiaries by geographical area and not according to the geographical location of our customers.

Differences are due to the holding company and rounding

The North America area continued its development and improved its profitability. Europe grew slightly, but suffered in terms of profitability, as did Asia-Pacific. Several actions (reducing structural costs, improving business selectivity, supporting teams through digitalization, etc.) have recently been undertaken at Group level, and should bear fruit over the next few years.

By Activity:

The holding company generated EBITDA of +€2.9M and operating income of +€0.3M, an improvement of +€1.6M and +€0.8M respectively.
Differences are due to the holding company and rounding

BUSINESS REVIEW

BU Engineering, a clear improvement in profitability
BU turnover grew by a moderate 2% to €76.4M in 2024.
This performance was driven mainly by the business aviation market, while commercial aviation remained steady despite the absence of new program developments.
EBITDA has improved significantly by almost 23.9% compared with 2023, thanks in particular to the development of activities in North America and better business diversification in Europe.
As a reminder, the Conseil BU has been integrated into the Engineering BU in order to increase synergies between these 2 divisions.

BU Solutions, buoyed by equipment and awaiting simulation
BU turnover grew significantly by over 10% to €80.6M.

Equipment production activities are driving the BU 's growth and profitability, buoyed in particular by the ramp-up in commercial aviation and the excellent performance of aircraft interior fittings. This good industrial performance is reflected in On-Time Delivery and On-Quality Delivery indicators which remain at high levels.

Simulation activities are weighing on the Group 's profitability.
A cost-control plan has been put in place in Australia for the rail business, and improvements in the situation of large simulators in the automotive sector should enable us to limit losses in 2025 and return to profitability in 2026. In addition, the ongoing rebuilding of our order book should enable us to absorb our costs more effectively.

FINANCIAL STRUCTURE

GEARING up sharply
With shareholders ' equity of €64.0M, the Group 's financial structure is very solid.
Debt stands at €3.3M excluding IFRS 16 (vs. €12.2M in 2023), representing a clear improvement in gearing to 5.21% (vs. 19.53% in 2023) and €11.6M after IFRS 16 (vs. €22.4M in 2023).
The improvement stems from the reduction in WCR (down by 2.4M€) thanks to its sound management at the end of the year.
The year was marked by the end of social aid repayments linked to Covid (initially 12.8M€).
Available cash totaled €19.5M.

DIVIDEND PROPOSAL: €0,96
On March 10, 2025, the Board of Directors decided to propose a dividend of €0.96 per share, an increase of 2.1%, to the Annual General Meeting of May 15^th, 2024.

PERSPECTIVES

Under the new governance of Alexandre Robardey, Chairman of the Board, and Philippe Brel, CEO, SOGECLAIR is confident of continued profitable growth in 2025.
The Engineering BU will be able to draw on a solid outlook for 2025 resulting from its strong sales momentum and expects to continue gaining share in the buoyant business aviation market.
The Solutions BU will continue to implement its turnaround plan initiated in 2024. The strengthening of our sales teams enabled us to develop our sales pipeline last year and should bear fruit in 2025. Synergies between our simulation expertise should also enable us to control project costs and make better use of our R&D plans.

The Group will continue to roll out its digital transformation plan over 2025, which will support teams on a day-to-day basis by facilitating the execution of certain tasks and will also enable better talent capture.
Innovation, the company 's DNA, is being strengthened with the installation of an additive manufacturing plant (metal powders) at our Toulouse site, for applications of innovative solutions, during 2025.

At the same time, SOGECLAIR has been committed since 2023 to implementing a Corporate Social Responsibility (CSR) approach that involves all its teams. The new carbon footprint for our largest production sites will be published in our next Extra-Financial Report in April 2025.
Similarly, our increased presence at the international aerospace show (Paris Air Show, June 16-22) will enable us to showcase our expertise and innovations to existing and prospective customers.

Next announcement:turnover for Q1 2025, on April 30^th, 2025, after closing of the Stock Market

About SOGECLAIR
Supplier of innovative high added-value solutions for safer and less-consuming mobility, SOGECLAIR brings its skills in high-quality engineering and production to a broad range of cutting-edge sectors notably aeronautics, space, vehicle, rail and defense. Supporting its customers and partners from the design and simulation stages through to the end of the product’s lifetime, all along the production chain through to entry into service, the collaborators are working worldwide to offer a high-quality and proximity service to all its customers.
SOGECLAIR is listed on Euronext Growth Paris - Indice Euronext® Family Business -Code ISIN: FR0000065864 / (Reuters SCLR.PA – Bloomberg SOG.FP)
Contacts: Alexandre ROBARDEY Chairman of the Board / Philippe BREL. Chief Executive Officer / +33(0)5 61 71 71 01
Press contact: Charlène CHAIX / Executive assistant /charlene.chaix @sogeclair.com / +33(0)5 61 71 71 01

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