GROUPE SFPI (EPA:SFPI) - GROUPE SFPI: 2020 financial results

Transparency directive : regulatory news

27/04/2021 18:22

April 27, 2021

                      GROUPE SFPI : ANNUAL RESULTS 2020
                Solid results confirm the group's resilience

The Board of Directors of Sfpi Group, which is specializes in the personal,
property and environmental protection industries, met on April 27, 2021 and
approved the consolidated financial statements for the year ended December
31, 2020.

These consolidated financial statements for the period from January 1, 2020 to
December 31, 2020 have been audited by our statutory auditors and their audit
report is being issued.

in EURM
                  31/12/2020      %      31/12/2019    %       Variation
                              Of sales              Of sales   2020/2019
                                                                  (%)
Sales               498,8                  562,5                 -11,3 %
Incl. Dom Security
Division            178,5                  198,5                 -10,1 %
Incl. MAC Division  166,5                  190,6                 -12,7 %
Incl. NEU-JKF
Division            101,1                  117,2                 -13,7 %
Incl. MMD Division   53,0                   56,4                  -5,9 %
Growth Margin       295,5     59,2 %       330,4      58,7 %      +0,5 pt
Incl. Dom Security
Division                      69,3 %                  69,3 %
Incl. MAC Division            54,6 %                  53,9 %
Incl. NEU-JKF Division        51,0 %                  50,9 %
Incl. MMD Division            55,3 %                  54,6 %
Recurring Operating
Income               28,6      5,7 %        30,6       5,4 %
Incl. Dom Security
Division             16,2                   17,1
Incl. MAC Division    3,2                    4,4
Incl. NEU-JKF
Division              4,3                    3,2
Incl. MMD Division    5,5                    5,5
Operating Income     27,0      5,4 %        12,0       2,1 %
Consolidated Net
Income               17,7      3,6 %         3,8       0,7 %
Group Share          17,6                    3,8
Non controlling
interest              0,1                     -
Earning per share
(in euros)           0,18                   0,04

Consolidated revenues at December 31, 2020 were EUR498.8 million, down 11%
compared to 2019.

By the end of the first half of 2020, the Group's activity had almost returned
to the level seen in 2019. As a result, in the second half of 2020 the Group
generated revenues of EUR272 million, compared with revenues of EUR276 million
in the second half of 2019.

Profit from recurring operations was EUR28.6m, compared with EUR30.6m in 2019,
reflecting the group's strength and resilience during the global health
crisis.

Net income from consolidated companies rose sharply. It amounted to EUR17.7m,
compared with EUR3.8m in 2019.

On December, 31st 2020, the Equity group's share amounts to EUR 214.2 M,
compared with EUR 199.6 M at December, 31st 2019.

en MEUR                   31/12/2020   31/12/2019
Non-current Assets        174,1         180,6
Current Assets            190,4         215,4
Net Inventories            74,0          80,5
Receivables                91,5          96,5
Others                     24,9          38,4
Cash and equivalents      162,6         118,8
Total Asset               527,1         514,8
Equity                    215,9         201,3
Incl. Group Share         214,2         199,6
Non-current liabilities   155,0         148,1
Long-term financial debt   75,3          68,1
Leases debts long term      7,4           9,6
Provisions
(employee benefit?)        72,3          70,4
Current liabilities       156,2         165,4
Short term financial
debts                      22,6          21,7
Leases debts short term     4,0           4,4
Payables                   55,9          53,3
Other creditors and
accrued liabilities        43,9          43,5
Others                     29,8          42,5
Total                     527,1         514,8

The financial structure remains solid, the group has a positive net cash of EUR
64,7 M split as follows

In EURM                      31/12/2020 31/12/2019   Variation
                                                     2020/2019
Financial debts (long term)*    (75,3)    (68,1)    (7,2)
Financial debts (short term) *  (21,1)    (19,8)    (1,3)
Overdraft                        (1,5)     (1,9)     0,4
Cash and cash equivalents       162,6     118,8     43,8
Net Financial Excess             64,7      29,0     35,7

(*)financial debts doesn't include IFRS16.

The simplified consolidated cash-flow statement is :

In EURM                              31/12/2020 31/12/2019  Variation
                                                            2020/2019
Cash Flow from Operating Activities      54,9        43,8     11,1
Cash flow used in Investment activities (11,7)      (26,1)    14,4
Cash flow from (used in) Financing
activities                                1,3       (19,3)    20,6
Net increase (decrease) of Cash flow     44,5        (1,6)    46,1

In 2020, cash flow from financing activities includes EUR 15.8 M of new
borrowings, including EUR10.5 million in loans guaranteed by the French
government

Dividends 2020: The Board of Directors will propose to the Annual General
Meeting, to be held on June 18, 2021, the vote of a dividend of EUR0.06 per
share, i.e. a total amount of EUR5.9m.

Outlook: For fiscal year 2021, the Group expects annual revenues of around
EUR540 million.

For Henri Morel, CEO and founder of Sfpi Group: "These results testify to the
solidity and the ability to rebound of our group, which specializes in the
industrial liability business. Despite a loss of revenue in 2020 due to the
simultaneous closure of several industrial sites in Europe in the first half of
the year, our four divisions managed to maintain our current operating income
in terms of value and volume. Combined with a solid financial surplus
characterized in particular by improved free cash flow, these results signal
the sustainability of the group. "

      Find the presentation of results 2020, effective April 28, 2021 on

              https://www.sfpi-group.com/global/fr/investisseurs

Next communication: Shareholder Meeting June, 18th 2021

Identity
Ticker : SFPI
Code ISIN : FR0004155000

Contact :
Nicolas LOYAU - CFO
nicolas.loyau@groupesfpi.com
or
Sophie MOREL - Investors relations
Sophie.morel@groupesfpi.com
+33 1 46 22 09 00

About Sfpi Group

SFPI Group (Safety for People and Industry) was founded in France in 1985.
Today, it constitutes a group of companies specialized in the safety industry
for people, goods and environment. They?re united within 4 autonomous,
innovative and digitalized operating divisions: DOM Security, MAC, MMD,
NEU-JKF. SFPI Group generates a turnover of approximatively 500 million Euros,
employs 3900 people and delivers solutions such as buildings security and
convenience, air-treatment and energy saving, both for industrial and private
markets. Industrial, responsible and European with global ambitions, SFPI Group
is pursuing its international expansion

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GROUPE SFPI (EPA:SFPI) - GROUPE SFPI: 2020 financial results

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