WE.CONNECT: Significant growth in profitability in 2021

  • Sales: + 2.9%
  • EBITDA: + 23.3%
  • Net income: + 23.5%

Proposed payment of a unit dividend of 0.4 euros

Paris – (Business Wire) – Regulatory News:

WE.CONNECT (ISIN Code FR0013079092 – ALWEC) (Paris: ALWEC) is a specialist in high-tech accessories for computers, mobiles and sounds, and today announced its 2021 annual results.

Audited data

As of December 31 – € m




turn over



+ 2.9%


As a percentage of sales





+ 23.3%

Business results

As a percentage of sales



8.1 8.1


+ 12.7%




– –

Current results

As a percentage of sales



7.2 7.2


+ 17.2%

Exceptional results



– –

Corporate tax



Net income

As a percentage of sales





+ 23.5%

At the end of fiscal year 2021, WE.CONNECT confirms profitable growth momentum and demonstrates its ability to adapt to situations marked for two years by the health crisis and general procurement tensions across the sector.

Solid business despite strong pressure on supply

WE.CONNECT achieved sales of € 217.5 million in 2021, an increase of 2.9% compared to the previous fiscal year. Range of 1er Due to the generalization of telework at target companies and the surge in household purchases of IT equipment, a penalty was imposed on the second day of the semester.Not applicable Semester due to unfavorable foundations of comparison and supply issues specific to the entire sector.

Robust business model

In this volatile market environment, the Group was able to adapt its business capacity to meet strong demand for high-tech products by anticipating supply needs as much as possible.

WE.CONNECT has succeeded in generating strong growth in profitability indicators, thanks to proper cost management, resource adaptation, and active inventory management.

Gross profit margin increased 14.2% to reach 9.4% revenue, an increase of 1 point compared to 2020.

EBITDA is up 23.3% to € 10.3 million, especially thanks to other purchases and a € 400,000 reduction in external costs.

Depreciation and provisions increased from € (0.2) million to € (1.1) million, primarily due to increased provisions for write-downs on inventories.

Operating profit has increased significantly by 12.7% to € 9.1 million.

After recording a net financial cost of 700,000 euros (down 200,000 euros year-on-year), an exceptional profit of (0.5) million euros compared to (0.1) million euros in 2020, and a corporate tax of 400,000 euros. From a decrease of € (1.5) M €, net profit increased by 23.5% to 6.3 million euros, showing a net profit margin close to 3%.

Healthy balance sheet structure

As of December 31, 2021, shareholders’ equity was € 36.1 million, an increase of 22% compared to December 31, 2020. This change is primarily explained by the record of profits for the fiscal year.

With strong growth and supply pressure at the beginning of the year, the Group has significantly increased inventory levels, resulting in a change in working capital requirements of € 11.9 million.

As a result, cash available, including marketable securities, fell € 7.1 million to € 36.0 million as of the end of December 2021.

WE.CONNECT has made a net loan repayment of € 1.9 million. Total debt at the end of December 2021 was € 27.8 million. Net cash of € 8.2 million shows that the Group’s balance sheet structure is strong.


The WE.CONNECT Board of Directors, held on April 15, 2022, has decided to pay a dividend of € 0.40 per share at the shareholders’ meeting on May 27, 2022.


WE.CONNECT, thanks to its fundamentals robustness and the robustness of its economic model, serves to capture the market’s many potentials for the distribution of digital assets that provide a good outlook in the medium to long term.

To support future growth driven by the rise of new digital applications in businesses and individuals, the Group will leverage the momentum of offline and online distribution channels based on the permanent enhancement of its high-tech product range. About potential targeted acquisitions.

“” WE.CONNECT was able to constantly adapt to fluctuations in supply and demand difficulties in a two-year volatile environment. These challenges did not compromise the robustness of the business model that proved its ability to generate higher margins in weak growth conditions in 2021. The pursuit of our development strategy should enable us to increase our sales over the next few years while maintaining and even improving our profitability. »» Moshey Gorsd, Chairman and CEO of WE.CONNECT, said.

Next release: 1 saleser Semester 2022: Thursday, July 7, 2022, in front of the market.


WE.CONNECT is a group that specializes in the following.

  • Design and manufacture of accessories and electronic products under its own brand for the general public and professionals:

    we® (Storage products and accessories for tablets, smartphones, laptops, gaming accessories, urban mobility), D2 Diffusion® (Sound, images, connected objects, range of multimedia connectors), HALTERREGO® (Trendy objects for sound, computing, photography, mobility, decoration), and HEDEN® (Video surveillance and home automation)

  • Distribute on behalf of third parties in computer equipment For mass distribution and special networks
  • Assembling bespoke PCs for institutional customers

WE.CONNECT has 105 employees. The group generated € 217.5 million in revenue in 2021, an increase of + 2.9% compared to 2020.

The groups are listed under Euronext Growth (ISIN code FR0013079092 – ALWEC).

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