2013 third-quarter sales and Egide UK disposal
2013 third-quarter sales
Trappes, October 9, 2013 - For the 2013 third quarter, Egide Group had consolidated sales of €5.6 million (unaudited), down 13% from last year's same quarter and 7% from the previous quarter of this year.
By business sector, defense and aerospace accounted for 52% of sales mix, the industrial sector 26%, the telecom sector 20% and other sectors (Egima) 2%.
Egide SA accounted for 55 % of the total consolidated sales of the quarter (compared with 52% in Q3-12), Egide USA 31% (vs. 36%), Egide UK 12 % (vs.11 %) and Egima 2 % (vs. 1%).
Philippe Brégi, the Group's Chairman-CEO, explained: "This decline in the third quarter reflects mainly the slowdown in the US defense sector in response to severe spending restrictions. To this is added the seasonality effect with sales generally lower in Q3 as well as a currency effect from a higher euro compared to the US dollar (averaging 1.285 in 2012 compared with 1.317 in 2013)."
| (€m) | 2012 | 2013 | Change |
| Q1 | 6.5 | 6.2 | - 5% |
| Q2 | 6.5 | 6.0 | - 8% |
| Q3 | 6.4 | 5.6* | - 13 % |
| Total 9 months | 19.4 | 17.8 | - 8 % |
* (unaudited)
He added: "Current developments regarding US debt will continue to weigh on the recovery of these defense markets while the euro/dollar exchange rate is expected to remain unfavorable over the coming months. Order intake is however picking up which should ensure a more positive outlook for 2014."
Egide UK's disposal
Following the Board of Directors' decision in July to proceed with the disposal of the Group's UK subsidiary, it was sold to management in early October. Completion of legal formalities will result in a closing at the end of the month. This transaction will generate an immediate cash inflow of £250,000 plus £50,000 from the repayment of a current account balance. The balance of the sale amount (£100,000) will be paid in 12 equal monthly installments over 2014.
Philippe Brégi commented: "I am delighted that the disposal was carried out rapidly under the intended terms and conditions and that it will provide, as planned, a short-term cash inflow as expected. I wish to express to the current Egide UK's current management all my wishes for success"
About Egide
Egide SA is a European group with an international dimension, specialized in the manufacture of hermetic packages for sensitive electronic components. Operating in a broad range of high-tech sectors including aerospace, defense, security, aeronautic, and telecommunications and with manufacturing bases in France and the United States, Egide is the only pure player in this market niche.
To find out more about Egide: www.egide.fr
Egide is listed on NYSE Euronext Paris(TM)- Segment C
ISIN: FR0000072373 - Reuters: EGID.PA - Bloomberg: GID
Egide renews OSEO certification as an innovative company (entreprise innovante) on June 11, 2012
ISO 9001:2008 and ISO 14001:2004 certified quality and environmental management systems
Contacts
Egide - Finance Department - Philippe Lussiez - +33 1 30 68 81 00 - plussiez@egide.fr
Fin'extenso - Media Relations - Isabelle Aprile - +33 1 39 97 61 22 - i.aprile@finextenso.fr
