CIMdata PLM Industry Summary Online Archive
25 July 2013
Financial News
Lectra: First Half 2013: Net Income and Free Cash Flow Strongly Positive, Balance Sheet Particularly Solid
Highlights:
- Revenues: €99.2 million (+2%)(*)
- Income from operations before non-recurring items: €7.2 million (–10%)(*)
- Net income: €14.6 million
- Free cash flow: €14.2 million
- Net cash: €22.4 million
Today, Lectra’s Board of Directors, chaired by André Harari, reviewed the consolidated financial statements for the first half of 2013, after a limited review by the Statutory Auditors. (Unless stated otherwise, comparisons between 2013 and 2012 are like-for-like.)
Q2 2013: Progress in the Company’s Transformation Plan
At the end of 2011, and despite the prevailing economic conditions, the company decided to accelerate its transformation over the period to 2015, giving precedence to its long-term strategy over short-term profitability.
This far-reaching plan represents a cumulative €50 million of investments for the future, fully expensed over the period 2012-2015, while their benefits will only be felt progressively. It comprises three components: a major recruitment plan devoted to strengthening sales and marketing teams, which will grow from 220 people at the end of 2011 to 330, and from 16% to 22% of the total workforce (with a doubling of the number of sales people); the addition of 40 engineers to the software R&D teams in Bordeaux-Cestas (France), bringing the total number to 260; accelerated investment in marketing (see February 12, 2013, financial report and 2012 annual report).
Execution of the plan continued in Q2. In particular, there have been 70 recruitments since January 2013, bringing the total new hires since the end of 2011 to 180. The main priorities, in addition to bolstering software R&D teams, have been North America, China, and the Germany and Eastern Europe region. Meanwhile, 140 people have left the Group, also under the transformation plan.
To view an unabridged version of this press release, visit: http://www.lectra.com/binaries/Lectra_PressRelease_H1_2013_tcm31-220540.pdf
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