SAINT-HERBLAIN, FRANCE – Lacroix Electronics reported revenues grew 38.6% year-over-year to €167.8 million in the first half of 2021. Despite a half-year marked by component shortages and persistent weakness in the aeronautics sector, electronics unit sales were 0.8% higher than the comparable pre-crisis period (from the beginning of January to the end of June in 2019).

With price increases linked to the supply shortages essentially passed on to customers, the electronics unit’s EBITDA margin was 4.1% (€6.9 million), versus with 3.3% a year ago (€5.1 million).

(The 2019-2020 financial year had a duration of 15 months from Oct. 1, 2019, to Dec. 31, 2020. The audited figures for the first half-year of 2019-2020 relate to the period from Oct. 1, 2019, to Mar. 31, 2020. The half-year data presented here are therefore not directly comparable.)

In the first half, Lacroix’s total revenue was €254.8 million, up 31.7% compared to the January to June 2020 period. Revenue for the first half of 2019-2020 (October 2019 to March 2020) was €238.7 million. Lacroix recorded business in the first six months of the year marked by a rise to pre-crisis progression levels, with growth of 2.8% compared to the Jan. 1 to Jun. 30, 2019, period.

The group’s current EBITDA amounted to €14.9 million, a margin of 5.8%, compared to the first six months of 2020 (€12.3 million), a margin of 5.2% at the end of March 2020.

As of June 30, equity stood at €112.8 million, compared with €108 million as of Dec. 31. Net debt increased to €51.6 million, compared with €31.2 million.

Lacroix noted increased volatility in supply conditions at the end of the current year, reflected in particular by last-minute postponements of component deliveries impacting the proper organization of its production and its ability to deliver.

The company expects a sales of €500 million for the 2021 financial year.

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