Search
Close this search box.

Tronics announces its 2014 revenue: organic growth of 14%, strong improvements in results

VIEW ONLINE: Link to original press release 

Tronics, a designer and manufacturer of innovative nano and microsystems, is listed on the Paris Alternext market (ISIN code: FR0004175099 ‐ ALTRO).
The Board of Directors of Tronics, meeting on 26 March 2015, closed the 2014 consolidated accounts.

GROWTH IN REVENUE AND PROFITABILITY

The dynamic diversification of customers initiated in 2013 accelerated in 2014, leading to organic growth in sales of 14%. Excluding sales to Sercel (which declined to only 15% of sales in 2014 versus 37% in 2013), the Company posted organic growth of 54%.


Engineering revenue was €6.9 M, up 47% compared to 2013 and represented 59% of total revenue. This strong growth in engineering should lead to a significant increase in manufacturing revenue within the next 12‐24 months, once the products now in the engineering phase enter production.


Current operating income strongly improved to €368 K, up €892 K compared to 2013. Costs were kept under control and the Dallas‐based subsidiary exceeded its breakeven point, explaining this performance.


The group share of net income for the year was €140 K versus a loss of €684 K in 2013, representing an improvement of €824 K.

A SOUND FINANCIAL STRUCTURE, STRENGTHENED BY THE €12 M RAISED DURING THE IPO

As of 31 December 2014, Tronics presented a sound balance sheet situation with equity of €7,032 K, cash flow of €3,778 K and gross debt of €5,690 K.


This financial structure has been reinforced by the €12 M in funds raised during the IPO in February 2015.

OUTLOOK

Tronics is now continuing to implement its development plan, which targets revenue of €40 M by 2018. The entry into production of the programs now in the engineering phase as well as the acquisition of new programs should contribute significantly to achieving this objective”, said Pascal Langlois, CEO of Tronics. “Given the strong seasonality of our business, the growth momentum we have initiated should be visible essentially from the second half of 2015. At the same time, we are pursuing our innovation policy in the sector of nano and microsystems with high added value in order to benefit from the increasing miniaturization of electronic devices and the proliferation of wearable electronics.

SCHEDULE OF PUBLICATIONS

Tronics is now continuing to implement its development plan, which targets revenue of €40 M by 2018