UCAR: Results 2021-202 July 4, 202 22:25

Return to growth and profitability

Strong cash and capital

BOULOGNE BILLANCOURT, France, April 7, 2022 / PRNewswire /-UCAR’s Board of Directors today approved consolidated accounting for the 2021 fiscal year. These accounts are audited by a statutory auditor whose reporting is in progress.

Concatenated key figures as of December 31, 2021

At K €

2021

2020

2019

Consolidated sales

31,846

25,097

34,907

Sale of products

8,997

6,622

17,233

Service of them

22,849

18,475

27,045


Sold by brand *


68,711


53,971


70,906


CARental *


51,974


41,620


51,294

Business results **

358

-2,312

75

Revenue

-36

-215

-98

Exceptional results

41 41

-182

-15

Corporate tax

twenty five

736

190

Net income attributable to the group

370

-1,993

133 133

EBITDA ***

2,233

-154

2,139

At K €

2021

2020

2019

Balance sheet total

38,236

41,167

41,972

Equity

13,268

13,179

16,063

Ministry of Finance

16,637

17,029

15,166

Consolidated accounts audited according to French standards

* Sales under the brand represent sales made by all networks

** Operating income before amortization of goodwill


*** EBITDA: Adjusted operating profit for depreciation and provisions

2021 annual results

The UCAR Group recorded consolidated sales of € 31.8 million as of December 31, 2021, an increase of 27% compared to 2020. This return to growth throughout the year underscores the resilience and resilience of the group.

Revenues under the banner were € 68.7 million, an increase of 27.3% compared to 2020, and rental revenues under the banner were in 2019 despite the impact of confinement from March 2021. It is back near the level of 52 million euros.

Rental and network service revenues have grown by nearly 24% compared to 2020 and more than 3% compared to 2019.

Vehicle revenue increased 36% compared to 2020, but remained nearly 30% lower compared to 2019.

Finally, in this context, it should be noted that at the end of December 2021, the group had a slight increase in its branch network, as it had 437 branches compared to 409 branches at the end of 2020.

Operating income was +358,000 euros, a recovery in profitability and above 2019 levels due to growth in activities that made it possible to better absorb the group’s fixed costs.

Corporate tax in 2021 includes (i) € 74,000 deferred tax assets and (ii) € 93,000 in research tax credits.

Therefore, the end result is an exceptional, after IS, a profit of +370,000 euros.

As of December 31, 2021, consolidated financial debt was € 13.7 million, a decrease of € 3.8 million compared to 2020. It should be noted that the Group acquired a € 8.7 million State Guarantee Loan (PGE) in June 2020. Depreciation will start in 4 years from June 2022.

Cash was stable as of December 31, 2021 and was around € 17 million, reflecting a return to positive cash flow for the year.

Shareholders’ equity reached € 13.3 million, reflecting sound financial conditions.

Outlook

Continued supply difficulties and health instability, coupled with fundamental changes in regulations and consumer expectations, underpin a turmoil strategy towards “cars as a service” and sharing.

Car sharing is an important issue in order to respect both environmental and social constraints. Ucar has decided to make its know-how and tools available for shared development.

For this reason, the Group continues to invest in providing innovative solutions at a sustainable pace, similar to Mise en Pension and Ucar Pool (applications to encourage mortgages in family circles). To go.

However, the Group continues to pay attention to the difficulties in supplying vehicles that are strongly punished by the effects of the health crisis and the sharp decline in production by automakers caused by the current geopolitical situation. In addition, the limited supply potential reduces the ability to serve customers accordingly.

About Ucar Mobility Group

Founded in 2000, UCAR is a mobility specialist in a position to address new vehicle consumption patterns under the UCAR brand and white label. In the face of evolving urban lifestyles, declining purchasing power, and growing ecology awareness, UCAR’s innovative proposals are based on:

  • Transparent rates and low prices all year round through the local network.

  • An original digital offer that provides access to new cars to as many people as possible, thanks to the revenue from sharing.

UCAR has nearly 70 direct employees and 400 people working in all networks (franchisees and franchise employees). The group is located in France and has 437 branches and nearly 8,000 vehicles. In 2021, trading volume under the UCAR brand and related networks was € 69 million.

UCAR has been listed on Euronext Gross Pari (FR 0011070457 – ALUCR) since July 6, 2011.

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