Excellent resilience of software activity

During the fiscal year, Acteos’ total sales were down 18.9% to € 13 million.
After consistently benefiting from high volume orders in the first half of the year, it fell sharply in the second half and was penalized for weak investment by clients who continue to keep an eye on the continued health crisis.

This situation has had a particular impact on mobility activities. Mobility activity fell by more than 46% annually to 3.9ME. This development takes into account particularly stringent comparison criteria. Therefore, in 2020, this activity recorded an increase of nearly 30%.

The performance of the software business is more satisfactory, increasing 4.4% annually to over 9ME. We focus on nearly 70% of the Group’s overall activities, compared to 54% in 2020.

Since September 2021, commercial momentum has recovered. However, this is not part of the year’s performance, but a cycle of new deployment decisions and negotiations that require months before signing and effective execution of orders.

It should be noted that recurring revenue will account for almost 50% of total revenue for the period 2021.

The decline in gross margin was limited to 6.8%, compared to a 18.9% decline in fiscal year sales. This positive development logically reflects the increased contribution of software revenue to total activity for the year. Therefore, the gross profit margin for the fiscal year rose sharply, equivalent to 62.6% of 2021 revenue, compared to 54.5% in 2020.

The resistance to gross profit was able to curb the decline in EBITDA. EBITDA remained positive at 347K throughout the year. Operating expenses remained tightly controlled during the year.

Throughout the fiscal year, personnel expenses (39.8% of sales) increased 5.4% to 5.2ME. This face increase reflects the lack of supportive measures (especially partial unemployment) within the framework of the system introduced to address the effects of the health crisis throughout fiscal year 2021. Acteos benefited from these measures at 300. KE in 2020. Increased labor costs also include 150 KE non-recurring costs associated with employee turnover.

General expenses increased 5.5% to 2.6 ME (20.3% of fiscal year sales), especially taking into account the increase in subcontracting, marketing and travel expenses.

Again, this change contains unfavorable grounds for comparison, with activities in 2020 being completely suspended for more than two months in the first confinement, with automatic reductions in general expenses during that period. ..

After three consecutive years of improvement, operating profit was strongly influenced by the commercial wait-and-see attitude that had a significant impact on the first nine months of the year.

In total, the net result for fiscal year 2020 is 161 KE, while the net result is 735 KE, which is negative.

Despite losses incurred during the fiscal year, cash at the end of 2021 was € 4.1 million, a decrease of 12.5% ​​compared to the situation on 31 December 2020. This situation allows us to calm down and approach the future. Repayment of loans guaranteed by the country acquired in the first half of 2020. The repayment will be spread over four years from the second quarter of 2022.

2022 outlook: better visibility to prepare for rebounds

The gradual resumption of bid calls observed since the start of the September 2021 academic year in software activities should allow the Group to gradually rebuild its orderbook to support future growth.

After many postponements of orders recorded in 2020, mobility activities to complete the Group’s commercial offers should also show significant improvements.

With regard to “R & D”, the completion and launch of a new range of high value-added products that integrate machine learning and artificial intelligence will broaden the range of market needs and strengthen the Group’s competitive advantage.

Therefore, ACTEOS reaffirms its confidence in that outlook. Supply chain digitization is more strategic than ever for all economic players. This structural trend should allow Acteos to quickly return to a sustainable and solid development trajectory after an episode of a health crisis that temporarily weighs on commercial and financial performance.

To take full advantage of this rebound, the Acteos team is more mobilized to provide the market with the most relevant and efficient solutions to meet the ever-increasing needs of the supply chain.

Upcoming events

A joint shareholders meeting held at the company’s registered office at 10:00 am on May 5, 2022.
Announcement of earnings for the first half of 2021 on July 25, 2022 after market closure.
The announcement for the first half of 2021 will be made on September 15, 2022 after the market closes.