Cybergun: 2021 Results: Cybergun Regains Profitability-May 19, 2022 08:30

May 19, 2022.

Cybergun, a global player in recreational shooting, has released results for the fiscal year ending December 31, 2021. The annual and consolidated financial statements certified without reservations were approved by the Board of Directors on Tuesday, May 17, 2022.

2021 was characterized by the acquisition of the company VALANTUR at the end of 2021. This has significantly changed the profile of cybergun by integrating the entire military value chain. Cybergun is currently presenting annual proforma data to articulate the new scope.

IFRS Standards-KEUR

Linking

12 months 2020

[1]

Linking

2021 12 months

[2]

Proformer

2021 12 months

[3]

turn over

23,526

33,040

48,305

Current operating profit

(5,312)

1,068

1,737

Other operating income and expenses

(1,579)

(2,329)

(1,649)

Operating income

(6,891)

(1,261)

88

Net settlement

(7,647)

(6,239)

(5,584)

tax

(400)

285

193

Net income

(14,938)

(7,215)

(5,304)

Net income, group share

(14,938)

(7,228)

(6,215)

On this occasion, Cybergun CEO Hugo BRUGIÈRE declared:

It’s here! After six years of hard work, we have finally achieved our current good performance. It is the result of a long-term effort to give what everyone has to give. We would like to thank all our stakeholders for their commitment with us to make it possible to achieve these good results. They now allow us to have a glimpse into the future with hope.

The HBR INVESTMENT GROUP also reaffirmed its unwavering support for the company and its desire to remain a reference shareholder in a stable position of more than 20% at the board of directors who approved the account. »»

Growth of all strategic sectors

Proformer sales in 2021 reach 48.3 MEUR

[4]

Compared to the 23.5 MEUR that Cybergun achieved in its previous range of activities in 2020, the size of the group will be doubled. Excluding VALANTUR, Cybergun sales increased 38% between 2020 and 2021.

All strategic sectors of Cybergun are growing in 2021 compared to 2020.

The defense sector, which currently integrates VALANTUR, accounts for about one-third of proformer revenue, showing a + 10% increase compared to 2020. The private sector, which accounts for about two-thirds of the revenue of new entities, is showing + 30% growth. In the United States, the new sales agreement with EVIKE increased sales in Europe, where the Group is gaining momentum in B2B and B2C, and in Asia, where CYBERGUN is focusing on managing sales contracts.

First positive current operating profit since 2014

Based on this amount of proforma activity, the Cybergun Group generated positive current operating results at 1.7 MEUR for the first time since 2014, integrating cost activation essentially related to military territory development programs at 2.5 MEUR. Did. .. Cybergun derives its profitability from the very healthy performance of its civic activities in Europe and Asia. The United States is approaching equilibrium before benefiting from the new agreement signed in early 2022 with EVIKE to resume operations with cross-Atlantic “chain stores.”

In 2021, the Group paid 1.6 MEUR as non-liquid operating expenses, primarily in connection with the strengthening of its financial structure (-0.7 MEUR) and the restructuring of civil activities in Europe (-1.0 MEUR).

After considering these factors, the financial result of -5.6 MEUR (almost all consisting of fees calculated based on the loan agreement) and taxes, the annual net result will be -5.3 MEUR. Therefore, Cybergun divided the 12-month net loss by 2.8 in the new range of activity.

After considering the share of profit attributable to minority shareholders in the military business, Cybergun generated a net profit (group share) of -6.2 MEUR compared to -14.9 MEUR in the previous year.

Strengthening assets with the funds raised

To fund this transformation, Cybergun raised 11 MEUR in fiscal year 2021. With these funds, we were able to strengthen our fixed assets and replenish our inventories through the acquisition of VALANTUR (20.6 MEUR at the end of 2021 was 8.4. 6.2 MEUR (7.1 MEUR a year ago) available cash. MEUR a year ago to support future growth while maintaining.

Everything is done in a sound financial framework, showing equity of 34.0 MEUR (19.8 MEUR at the end of 2020) for 4.9 MEUR of financial debt.

[5]

Although basically composed of long-term debt held by the military sector, the historical scope of cybergun is fully de-leveraged in 2021, thanks to the termination of the trust that allowed bondholders to repay. it was done.

By the way, Cybergun terminated the OCABSA contract in November 2021. In this context, we know that the exercise of all issued stock acquisition rights results in the creation of 239 new shares, a potential dilution of 0.0005%, so there is no more significant dilution factor. Funding for the VERNEY CARRON acquisition project will be funded by sources other than OCABSA.

2022 new lever born from strategic partnership

Cybergun is optimistically approaching Fiscal Year 2022. In addition to the healthy conditions shown in the 2021 account, the group relies on additional means provided by the partnership with EVIKE in the United States, where the two partners expanded their collaboration to the “chain store” earlier this year. can do. In the segment and Europe, major new initiatives are in the pipeline.

With the acquisition of VERNEY-CARRON, France’s oldest weapons maker, we are also making a new radical transformation to work together to create a player representing France with small weapons. The project is proceeding as planned and the integration of the two companies is expected to be completed by the end of 2022.

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About Cybergun:

Founded in 1986, Cybergun is a global expert in the design, manufacture and distribution of replica weapons under an exclusive license. Historically located in the civilian sector (airsoft, airsoft, recreational shooting), the group has developed a military sector dedicated to military and police training since 2014. During the 2021 fiscal year, Cybergun achieved proformer sales of 48.3 MEUR.

Certified as an “innovative company” by Bpifrance, Cybergun is listed on Euronext Growth (FR0013204351 – ALCYB) in Paris and its securities are covered by FCPI, PEA and PEA-PME.


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[1]

To be on the safe side, at the shareholders’ meeting in October 2019, we decided to change the closing date from the previous March 31st to December 31st.As a result, the company reconfigured the account from scratch

er

From January 2020 to December 31, 2020, which is the basis for comparison.

[2]

Authorized account

[3]

Proformer data calculated by integrating VALANTUR with 1

er

January 2021.

[4]

Compared to the original estimate of € 47.2 million announced on January 26, 2022

[5]

Excluding 4.8 MEUR rental debt


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Complete original press release in PDF format:

https://www.actusnews.com/news/74672-cyb_cp_ra_2021_vdef.pdf

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