2023-10-31 17:24:02
Gaussin announces a 49% drop in its turnover and licensing income in the first half, to 13.6 million euros. The innovative vehicle specialist cites “the rise in industrial power” of the group and “the creation of significant stocks and outstandings”. It posted a net loss of 23.8 million euros compared to 13 million a year ago.
The group’s net profit was impacted by the abandonment of several projects as part of the group’s strategic refocusing initiated in February 2023 around its key activities, namely ATM (logistics), APM (port) and TSP electric vehicles. (Metalliance underground).
This gave rise to provisions and additional net depreciations amounting to 6.7 million euros which do not affect the group’s cash flow.
“Results should improve in the second half with the increase in invoicing linked to the transformation of production in progress into turnover” forecasts management.
“As of June 30, 2023, the firm order book stands at 155 million euros, an additional increase of 19% since December,” he adds.
“Guided by its new reference shareholder, CSG”, Gaussin “aims to evolve from an engineering company, focused on R&D, to a company focused on industrial mass production and service engineering”, is- he recalled. “By the end of the year, this industrial and commercial strategy should be unveiled and backed by a transformation plan.”
The group has cash of 20 million euros as of October 16, 2023 compared to 10.2 million as of December 31, 2022, following the financing of 15 million euros granted by CSG. Shareholders’ equity goes from 4.7 million euros as of December 31, 2022 to -3.1 million euros as of June 30, 2023.
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