Today, Lectra’s Board of Directors, chaired by André Harari, reviewed the consolidated financial statements for the first half of 2016, after a limited review by the Statutory Auditors.
Detailed comparisons between 2016 and 2015 are based on 2015 exchange rates (“like-for-like”) unless stated otherwise.
Q2 2016: Strong Growth in Orders for New Systems for the Third Consecutive Quarter
Orders for new systems (€30.5 million) are up 17% compared with Q2 2015.
Orders for new systems also rose relative to Q1 2016 (€26.1 million). They had increased by 20% and 23% respectively, at actual exchange rates, in Q4 2015 and Q1 2016, relative to the corresponding periods in the previous year.
Revenues (€64.1 million) are up 8%: revenues from new systems sales increased by 8%, as did recurring revenues. At actual exchange rates, revenues increased by 6%.
Income from operations amounted to €8.1 million, up 14% (+7% at actual exchange rates). The operating margin was 12.6%, increasing by 0.7 percentage points (+0.1 percentage points at actual exchange rates).
Net income amounted to €5.5 million, up €0.2 million (+5%) at actual exchange rates.
Lectra Opens a Subsidiary in Vietnam
Lectra further pursued its development plan in Asia, with the opening of its subsidiary, Lectra Vietnam, on July 1 of this year. The new subsidiary will support Vietnam’s businesses in their deployment of Lectra’s industry-leading technologies, widely appreciated in Asia and across the world, and will also assist foreign firms to grow their businesses in Vietnam. The signing of the Transpacific Partnership (TPP) in February 2016 has further enhanced the attractiveness of Vietnam’s fast-growing economy.
Lectra has been present in Vietnam for over 20 years, serving an extensive customer base, including major Asian companies. It was until now represented by its agent Ly Sinh Cong Trading Service Company (LSC). The entire sales and service personnel have now joined the new subsidiary, based in Ho Chi Minh City.
First Half 2016: Revenues and Income from Operations In Line with the Company Roadmap
Revenues totaled €126.3 million, up 10%, and income from operations €15.4 million, up 24%. This performance is in line with the June 30 target figure corresponding to the middle of the range of objectives announced on February 11.
Strong Increase in Orders for New Systems
Orders for new systems (€56.7 million) increased by 20% relative to H1 2015: +8% for new software licenses, +27% for CAD/CAM equipment and +10% for training and consulting.
Growth in Revenues
Revenues (€126.3 million) are up 10% (+9% at actual exchange rates).
Revenues from new systems sales (€54.6 million) increased by 13%. Recurring revenues (€71.7 million) increased by 8%.
Increase in Income from Operations and in Net Income
Income from operations (€15.4 million) increased by €3.2 million (+24%) like-for-like and €2.3 million (+17%) at actual exchange rates.
The operating margin was 12.2%, up 1.5 percentage points like-for-like and 0.9 percentage points at actual exchange rates.
Net income amounted to €10.7 million, up 18% at actual exchange rates.
Free cash flow amounted to €7.1 million, up €3.2 million compared with H1 2015.
A Zero-Debt Company, a Very Strong Balance Sheet
At June 30, 2016, consolidated shareholders’ equity amounted to €113.9 million, after payment of the dividend of €9.3 million (€0.30 per share) declared in respect of FY 2015.
Cash and cash equivalents and net cash position totaled €57.8 million.
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