Completion of Groupe Gorgé reorganization
Groupe Gorgé is unveiling its new brand identity, reflecting 30 years of technology expertise. Built around the Group's three core values of ambition, entrepreneurial energy and efficiency, which underpin the strength and uniqueness of Groupe Gorgé, the new identity conveys the Group's ability to anticipate industrial transformation and help customers solve their technological challenges.
Groupe Gorgé is rolling out its new brand identity against a backdrop of consistent growth, booming sales and deep-rooted changes in the Group over the past few years, completed on December 30, 2020 with the completion of the merger-absorption of its subsidiary ECA.
This transaction completes the process launched 18 months ago to refocus on business lines with a high technology content. The benefits of this organizational streamlining of the Group's divisions will be felt from 2021 onwards.
The divisions have been renamed as follows:
- Drones & Systems (subsidiary ECA Group)
- Engineering & Protection Systems (subsidiaries Baumert, Vigians, Seres Technologies and StedY)
- 3D Printing (subsidiary Prodways Group)
For the Drones & Systems (ECA Group) division, the Group expects to benefit from the significant ramp-up of the minesweeper contract for the Belgian and Dutch navies. The aeronautics business will return to operating breakeven in 2021 thanks to the restructuring program implemented in 2020 and the diversification into autonomous guided vehicles (AGV). Top line growth for the division is expected to reach its highest level in over 10 years.
For the Engineering & Protection Systems division, the resilience of the France Fire Protection and Technical Doors businesses will go hand in hand with forecast double-digit growth in Engineering, primarily driven by the launch of the StedY engineering and technology consulting business. The commercial environment continues to be favorable and should see positive developments at the very start of the year.
The 3D Printing (Prodways Group) division is expected to reap the benefits of the major overhaul of its machinery business over the last 18 months, the impact of which has up to now been stifled by the Covid crisis.
Groupe Gorgé will provide further details of its sustained growth outlook for 2021 to coincide with the publication of the full-year revenue release on February 25, 2021.
About Groupe Gorgé
Groupe Gorgé is a high-tech industrial group driven by a strong entrepreneurial culture.
The Group operates in the fields of 3D printing, drones, engineering and protection systems and employs around 2,000 people in seven countries. The Group reported revenue of €275 million in 2019.
More information is available at www.groupe-gorge.com
Groupe Gorgé is listed on Euronext Paris Compartment B (GOE).
| Upcoming releases • February 25, 2021 (after close of trading): Q4 2020 revenue • March 16, 2021 (after close of trading): FY 2020 results • April 28, 2021 (after close of trading): Q1 2021 revenue | ||
Contacts: Investor Relations Anne-Pauline Petureaux Tel.: +33 (0)1 53 67 36 72 apetureaux@actus.fr Media Relations Manon Clairet Tel.: +33 (0)1 53 67 36 73 mclairet@actus.fr Follow Groupe Gorgé news on: groupe-gorge.com | | |
| Disclaimer Groupe Gorgé press releases may contain forward-looking statements regarding the Group's targets. Forward-looking statements reflect current expectations about Groupe Gorgé. Such forward-looking statements and targets depend on known and unknown risks, uncertainties and other factors that could cause actual results, performance or events to differ materially from those anticipated herein. Some of these risk factors are explained in detail in the Universal Registration Document, which may be downloaded from the Groupe Gorgé website (www.groupe-gorge.com). This list of risks, uncertainties and other factors is not limitative. This press release and the information it contains do not constitute an offer to sell or subscribe, or a solicitation to purchase or subscribe shares in Groupe Gorgé or its listed subsidiaries in any country whatsoever. | ||
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