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  ROBERTET company press release from 22/09/2021

  22/09/2021 - 18:00

FIRST HALF 2021: GOOD HALF-YEAR RESULTS


Robertet SA
37 Avenue Sidi Brahim 06130 Grasse – France
Société anonyme au capital de 5 754 612 € Rcs Grasse B 415 750 660

First half-year 2021: Good

First half-year results 2021

21 September 2021

Consolidated financial statements (in thousands of euros) 30
June 2021
% 30 June
2020
% 30 June
2019
% Change 2021 vs
2020
Sales revenue 297
629
100% 280 208 100% 287 710 100% 6,2%
Current EBITDA 61 298 20,6% 56 165 20,0 % 52 178 18,1% 9,1 %
Current operating income 48 889 16,4% 41 420 14,8% 40 778 14,2% 18,0%
NET INCOME
Group share
38 070 12,8% 30 095 10,7% 29 422 10,2% 26,5%
Net income per share (in euros) 16,5   13,0   12,7   26,5%

The Board of Directors met in Grasse on September 21, 2021 under the chairmanship of Mr. Philippe Maubert and approved the financial statements for the first half of the year, which had been reviewed by the statutory auditors.

Consolidated revenues amounted to 297.6 million euro, up 6.2% (10.6% at constant exchange rates).

Net income, Group share, amounted to 38 million euro, up 26.5% compared to June 2020.

Robertet Grasse and the United States performed particularly well, after a more difficult start to the year.

This demonstrates Robertet's resistance to the health crisis and its good command of operational management.

Current EBITDA at June 30 was also up by 9.1%, improving the performance indicators.

Over 2 years, from June 2019, the latter is up by 17.5% and net income by 29.4% reflecting continued progress in key parameters.

As of August 31, 2021, consolidated revenues were 401.5 million euro, up 9.6% (13.8% at constant exchange rates).

Notre rapport financier semestriel sera disponible le 30 septembre sur notre site internet.

ADDITIONAL INFORMATION

*Current EBITDA corresponds to current operating income before depreciation, amortization, provisions and reversals and excluding other operating expenses, considered as non-current.

The table showing the reconciliation of current EBITDA from current operating income is as follows:

  June 2021 June 2020 June 2019
 
Current operating income
48 889 41 420 40 778
 
Depreciation, provisions and reversals
12 360 14 741 11 364
 
Other operating costs
49 4 36
 
Current EBITDA
61 298 56 165 52 178

There has been an improvement in this indicator, which represents 20.6% of revenues compared with 20.0% at the end of June 2020, mainly due to the good performance of gross margins in all the Group's entities and the control of personnel costs.

The main balance sheet indicators are as follows:

In thousands of euros JUNE 2021 JUNE 2020 DECEMBER 2020
SHAREHOLDERS'
EQUITY (Group share)
509 705 469 163 476 256
NET CASH
POSITION
45 884 26 336 63 578
CURRENT ASSETS - CURRENT LIABILITIES 335 562 326 082 332 098

They reflect the Group's excellent financial strength, with a continued high level of net cash and equity, against a background of external acquisitions and increased working capital requirements.

As of June 30, 2021, revenues break down as follows:

In thousands of euros Raw Materials Fragrance Flavors
  78 098 112 152 107 379
Change from June 30, 2020 -0,7% +15,4% +2,9%

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  Original Source: ROBERTET