DJ ROCTOOL: Annual Results 2020
ROCTOOL
ROCTOOL: Annual Results 2020
11-March-2021 / 18:24 CET/CEST
Dissemination of a French Regulatory News, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
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Press Release
Le Bourget-du-Lac, 11 March 2021 - 6.15 PM CET
Annual Results 2020
- 21% Reduction of Losses
- Strong acceleration in activity in the 2nd semester
- Rapid restructuring
Roctool (Euronext Growth - FR0010523167 - ALROC), specialist in mold heating and cooling technologies for plastics and
composites, present its consolidated annual results, closed on 31 December 2020, and approved by the Board of Directors
on 11 March 2021.
Mathieu Boulanger, Roctool CEO, states: "The fiscal year of 2020 demonstrated the resilience of Roctool technology
during a complex economic situation. Our group was able to react quickly early in 2020 with a restructuring and an
increase in eco-responsible projects where technology is proving to be a relevant solution. This historical evolution
of needs traces a guideline for Roctool and opens up new perspectives."
The 2020 fiscal year revenues amounted to 6.5MEUR, of which 3.9MEUR in S2 (i.e. an increase of 54% vs. S1 2020 and 7% vs.
S2 2019), making it possible to largely absorb the decline of S1. While the automotive sector remains a major market in
2020 despite the crisis, with 28% of total turnover (vs. 44% in 2019), we are seeing strong growth in new markets such
as beauty (1.1MEUR in the year, e.g. + 81% vs. 2019) and medical (0.5MEUR, e.g. x3 vs. 2019),
demonstrating the efforts to balance the company's turnover in growth sectors.
We rely on substantial growth in the beauty segment over the next few years. One of the main reasons is the
eco-responsible transition of packaging with recycled materials, the reduction or elimination of paint; two projects
for major brands where Roctool technology excels.
It should be noted that, the first significant Roctool sales in the medical sector, due to the advantages of the rapid
heating technology making it possible to replicate functional surfaces for specific medical applications.
Update on 2020 activity
During the first 'slowdown' signs in early 2020, the Group took two important and necessary steps:
. On one hand, an immediate restructuring of the Group with cost reduction measures on 3 continents (Asia, North
America and Europe) which made it possible to reduce operating expenses by 1.1MEUR from 2020
. On the other hand, to consolidate the short-term financial position with a free allocation of share subscription
warrants - which made it possible to carry out a capital increase of 1.9MEUR and financing via a loan guaranteed by
the Government of 1.8MEUR from BPI France and our 4 banking partners.
These measures that were put in place early in the year, made it possible to concentrate on the efforts in the 2nd
semester regarding the development of the activity. Despite international travel restrictions, the teams have been able
to support the deployment of technology to international customers thanks to local Roctool locations and the increase
in remote technical support.
Faced with the successive cancellations of all trade shows, we have set up webinars, with live demonstrations of the
technologies, which have allowed us to maintain contact with customers and partners. Furthermore, in an uncertain
economic context, our "brand" strategy has reinforced us with continued work with contractors and, among other things,
the signing of an innovation contract with Decathlon.
Thanks to all of these efforts, the activity was able to bounce back with strong growth during the 2nd semester and, if
the annual turnover is down 11% vs. 2019, the operating losses (EBITDA) decreased to 1.77MEUR (vs. 2.23MEUR in 2019).
With a loss of 0.4MEUR in financial income (mainly linked to provisions for exchange losses on intragroup debts), and an
insignificant exceptional result, net income came to -2.6MEUR.
Reinforced financial structure
As of December 31, 2020, the Group had a strengthened financial structure, with 3.5MEUR in shareholders' equity,
financial debt of 3.1MEUR and available cash of 1.3MEUR (with accounts receivable in strong increase to 4.2MEUR thanks to
growth in S2 2020).
COVID impact
Despite efforts to support activity, the uncertain context of the international health and economic crisis continues to
slow down the ongoing projects and reduce visibility on future opportunities. It is currently difficult to assess the
impact of this crisis on the next financial year, and in particular concerning the possibility of traveling to the
countries that are strategic to our business to explore and install the technology.
However, the acceleration of the development of eco-responsible products by the brands in many sectors is a real
opportunity for Roctool which, over the years, has optimized its molding technology to eliminate surface defects on
recycled materials and offers savings for an unsurpassed surface quality. This is one of the reasons why the order book
continued to fill up from the end of 2020 to the start of 2021 and hence securing a growth on Q1 2021 (vs. Q1 2020).
For the remaining of the 1st semester 2021, the challenge is to be able to convert the ongoing sale opportunities
without being too slowed down in their realization by the unpredictable of the context and international restrictions.
Presentation of Results
Join us on Friday 12th March at 11:00am CET for the presentation of results 2020.
Registration is compulsory click here to register.
About Roctool: www.roctool.com
Founded in 2000, Roctool is a technology and manufacturing solutions provider offering engineering services and
systems. The Roctool induction process, perfectly adapted to plastic injection and compression molding, is available in
many configurations to meet industrial requirements. Roctool's research and development team is constantly adapting its
technologies to new materials, particularly metals. Roctool is the leader in heat and cool technologies, and today
offers HDPlastics to plastic molders, Light Induction Tooling technology - LIT to suppliers of composite parts
and Induction Dual Heating technology - IDH for complete molding solutions. The processes developed by Roctool are
used in production by leading brands in innovative sectors such as automotive, aerospace, consumer products and
electronics. They offer many advantages, including reduced cycle times, excellent surface quality, weight and
performance savings, which allows manufacturers to reduce the overall cost of the parts produced. Roctool is listed on
the Euronext Growth market in Paris. Its headquarters and R&D center are located at Le Bourget du Lac (France). Roctool
also has offices and platforms in North America, Japan, Taiwan, Germany and China.
Contact press / Investor Relations
Aelium
Valentine Boivin
+33 1 75 77 54 65
roctool@aelium.fr
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Regulatory filing PDF file
File: ROCTOOL Annual Results 2020
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Language: English
Company: ROCTOOL
Savoie Technolac Modul R
73370 LE BOURGET DU LAC
France
Internet: www.roctool.com
ISIN: FR0010523167
Euronext Ticker: ALROC
AMF Category: Inside information / News release on accounts, results
EQS News ID: 1175082
End of Announcement EQS News Service
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1175082 11-March-2021 CET/CEST
(END) Dow Jones Newswires
March 11, 2021 12:26 ET (17:26 GMT)
