SAINT-HERBLAINE, FRANCE – Lacroix Group reported Electronics Activity for the fourth quarter saw revenue of €83.2 million (US$94.5 million), up 5% year-over-year.

During the period, activity benefitted from the reinvoicing of extra costs principally relating to electronic components.

For 2021, Electronics Activity posted revenue of €321.5 million, a rise of 16.8% compared to 2020.

This is satisfying given the supply situation and an aeronautics market lagging 30% below 2019 levels, the firm says. The segment brought in a significant number of new customers and new programs that will have a positive impact on future financial years, especially in France.

Lacroix continues to face acute supply pressures, reducing its ability to fully meet strong demand in most of its markets. After reaching a peak in the summer of 2021, pressures still persist, and a gradual improvement isn’t expected before the second half of 2022.

The contribution of Firstronic to Electronics Activity revenue will be applied from Jan. 1. Firstronic had revenue around $140 million in 2021.

Lacroix Group’s total fourth quarter revenue was up 6.4% year-over-year to $136.3 million, driven by continued strong business momentum and softened by the impact of supply pressures.

The company’s total 2021 revenue was up 13.7% compared to 2020. For the full year, Lacroix exceeded the annual revenue threshold of €500 million for the first time (€501.5 million).

Ed.: €1 = US$1.14