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A year of resilience

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Toulouse, IGE+XAO Group announces:

Annual consolidated financial statement for the 2020 financial period (in IFRS format)*

In a context marked by the health crisis linked to Covid-19, consolidated turnover for IGE+XAO in 2020 is 32,676,814 euros, down 3.7% compared to 2019. This particular period has been beneficial to recurring sales, maintenance contracts and subscriptions, for which the growth accelerated, while perpetual licence sales and training suffered from the economic situation and obligations concerning distancing. However, the Group quickly adapted its offering to these exceptional circumstances by offering its customers full service continuity via the generalisation of remote services (remote maintenance and training). In parallel, the Group maintained all its R&D roadmap and products.

In terms of profitability, operating income crossed the 10 million euro line, favoured in particular by a significant drop in travel expenses and by the cancellation of trade shows. The operating margin thus stands at 32.5%** compared to 28.8% in 2019. Total consolidated net income is 8,049,394 euros bringing the net margin to 24.4%***.

From a financial standpoint, the Group has, at 31 December 2020, a cash flow of 49.2 million euros and almost no bank debt (excluding the impact of IFRS 16). This solid financial structure allows it to accelerate its market plan in terms of its international development as well as its R&D investments, the whole combined with a high level of profitability.

*     The consolidated financial statements were approved by the Board of Directors on 15 February 2021 and will be submitted for approval to the Annual Shareholders’ Meeting.

**    Operational profitability: operating income / turnover 

***  Net profitability: net income / turnover