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Results for the first-half of fiscal 2017

Published on September 27, 2017
Link to ActusNews

Tronics, a TDK Group Company that designs and manufactures innovative nano and microsystems, listed on Euronext Growth at Paris (ISIN code: FR0004175099 - ALTRO), has announced its results for the first half of fiscal 2017. The half-year financial report has been made available to the public today.

Tronics’ Management Board met on September 26, 2017 and approved the accounts for the first half of fiscal 2017 (January 1 to June 30), which were presented to the Supervisory Board on the same day.

Revenue for the first half of 2017, which stand at around €3.0M, is almost stable compared to the revenue in the first half of fiscal 2016, despite the transfer of the manufacturing activities at Dallas to a new production facility. This temporary slowdown of activities in the United States has been compensated by a sustained growth in France, at Crolles, in both manufacturing and engineering.

Revenue from manufacturing activities increased by 15% to €1.3M versus €1.1M in the first half of 2016. This increase is sustained by the growth of the activity for optical components at Crolles, and the production ramp up of the high-performance inertial products. Engineering revenue totaled €1.7M (versus €2.0M in the first half of 2016).

During the first half of 2017, structural charges have significantly increased, due to headcount increases in France and the United-States, and the move of the American production facility.

In parallel, Tronics maintained its R&D investments, which stand at €0.9M, principally regarding the programs named STARS (Smallest Tactical AccelerometerS) to develop a MEMS accelerometer block, and TRACE (Technology ReAdiness Process for Consumer) to accelerate the transfer of consumer electronic products deriving from Magelan and M&NEMS technologies to the automotive industry.

TRENDS AND OUTLOOK

The Group’s priority in 2017 remains to complete its engineering projects and to launch the production of innovative products in the inertial, life sciences and high value-added industrial applications sectors. Tronics also intends to pursue its growth strategy and increase the part of its production revenue into the total Group sales.