DJ 2CRSi SA: Revenue for the first half of 2020/21.
2CRSi SA
2CRSi SA: Revenue for the first half of 2020/21.
13-Oct-2020 / 18:05 CET/CEST
Dissemination of a French Regulatory News, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
Press release
Revenue for the first half of 2020/21
· Diversification of client portfolio confirmed
· 2020/21 targets maintained
Strasbourg (France), 13 October 2020 - 2CRSi, a designer and manufacturer of
high-performance, energy-efficient computer servers, today reported its
revenue for the first half of FY 2020/21 (from 1 March 2020 to 31 August
2020) and confirmed its revenue target for the full financial year.
In light of the integration of the company Boston, for which first-half data
was not hitherto available, and the alignment of the dates of 2CRSi and
Boston's fiscal years, i.e. from 1 March to 28 February (as a consequence
the last financial year, 2019/2020, lasted for 14 months, from 1 January
2019 to 29 February 2020), comparable data for the first half of 2020/21 is
not available.
H1 2020/2021
Reported accounting data Pro-forma
data
Company 2CRSi Boston 2CRSi 2CRSi
(hist. Limited (Cons. (Cons. Group)
scope) Group)
Period 1 March 1 March 1 March 1 March 2019 -
2020 - 2020 - 2020 - 29 February 2020
31 August 31 31
2020 August August
2020 2020
Length of 6 months 6 months 6 months 12 months
period (1) (1) (1)
Consolidated 24.0 53.8 77.8 141.1
revenue
1) Unaudited figures
In the first half of the year, Group revenue came to &euro77.8m, consisting
of a &euro24.0m contribution from 2CRSi's historical consolidation scope (to
be compared with H1 2019 revenue of &euro21.5m for the months January to
June) and a &euro53.8m contribution from Boston Limited. Note that the Group
had reported pro forma 12-month revenue of &euro141.1m.
Impact of COVID-19
Group business activity has been impacted on various levels by the world
health crisis since the start of 2020. From January 2020, the effects were
felt both in (i) procurement, with supplies still slightly impacted in terms
of delivery deadlines and costs, and (ii) sales. Indeed, out of caution, a
good number of clients in some of the sectors hit by the crisis, such as
automotive, aerospace and oil & gas, chose to postpone investments. Still
other sectors, such as cloud computing, online video games and telecoms,
have experienced a spike in demand during the crisis and have invested in
their IT infrastructure. The Group reckons it is now sufficiently
diversified to best withstand the current context.
Business diversification
Spurred by its new business wins, the Group confirmed the diversification in
its client portfolio:
· In H1 2019, its 10 largest clients accounted for nearly 72% of total
revenue, a figure that has now dropped to 49%, or &euro38.1m.
· Similarly, whereas the Group's first client accounted for 44% of total
revenue in H1 2019, the share of revenue generated by the Group's first
client came to just 13% in H1 2020/21.
The Group adds that only about 40% of the Blade order, which was announced
on 27 April 2020 for nearly &euro25m in total, had been delivered and
recorded in revenue in the first half. The delivery of the remaining 60% of
that order was postponed due to Blade's delays in the preparation of the
data centers due to receive the servers. The remainder should ship during
the 3rd quarter and thus be recorded in H2 revenue.
The acquisition of Boston Limited also helped speed up the Group's
international expansion drive, which it continues to pursue today. France
was the Group's biggest market in H1 2018, accounting for some 68% of its
business activity: by H1 2019 it accounted for just 41% of the total and the
share now stands at just 14%. The UK, from which Boston derived the majority
of its revenue, is now the Group's biggest market, accounting for 44% of
revenue. Finally, Germany and the US accounted for 13% and 11% of Group
revenue, respectively.
"In the current pandemic situation, the benefits of the Boston acquisition
in terms of diversification and resilience in our client base are now
confirmed. The Group's satisfactory first-half performance, together with a
growing commercial pipeline, both in Europe and other regions, enables us to
maintain our revenue target for the full year of &euro170m-&euro200m."
announced COO Marie de Lauzon.
Next event: publication of H1 2020/21 results on 30 November 2020 after
market close.
- END -
About 2CRSi
Founded in Strasbourg (France), 2CRSi group develops, produces and sells
customised, high-performance and environment-friendly servers. In the
financial year 2019/2020, the Group generated pro forma turnover of
&euro141m. The Group today has 355 employees and markets its offer of
innovative solutions (processing, storage and network) in more than 50
countries. 2CRSi has been listed since June 2018 on the regulated market of
Euronext in Paris (ISIN Code: FR0013341781) and has been awarded the
European Rising Tech label. For further information please visit:
www.2crsi.com [1]
Contacts
2CRSi Actifin Actifin
Marie de Lauzon Simon Derbanne Jennifer Jullia
Deputy Chief Financial Communication Financial Press
Executive Officer Relations
sderbanne@actifin.fr
investors@2crsi.com jjullia@actifin.fr
+33 (1) 56 88 11 14
+33 (0)3 68 41 10 70 +33 (1) 56 88 11 19
Regulatory filing PDF file
File: 2CRSi - CA S1 EN [2]
Language: English
Company: 2CRSi SA
32, rue Jacobi-Netter
67200 Strasbourg
France
Phone: +33 3 68 41 10 70
E-mail: investors@2crsi.com
Internet: www.2crsi.com
ISIN: FR0013341781
Euronext Ticker: 2CRSI
AMF Category: Inside information / News release on accounts, results
EQS News ID: 1140726
End of Announcement EQS News Service
1140726 13-Oct-2020 CET/CEST
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(END) Dow Jones Newswires
October 13, 2020 12:05 ET (16:05 GMT)
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