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Revenues and license fees: €52.8 million versus €40.6 million
Net income: -€7.3 million, compared to €1.2 million
EBITDA: -€0.4 million versus €5 million
Shareholders’ equity: €24.3 million versus €19.5 million
Cash and cash equivalents: €14.4 million for €16 million on April 15, 2022
Strong development prospects thanks to a firm order book of €77 million and a 2022 target of €75 million in revenues*
GAUSSIN (EURONEXT GROWTH ALGAU – FR0013495298), a pioneer in the clean and intelligent transport of goods and people, announced that it has met with its Board of Directors on April 26, 2022 and approved the consolidated financial statements for the year ended December 31, 2021.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220426006293/en/
H2 Racing Truck World Tour Dates (Graphic: Business Wire)
1. GAUSSIN, a leading group in new technologies for clean and intelligent mobility
Gaussin continued to grow in 2021, increasing revenues 30% to €52.8 million in 2021 driven by synergies with Metalliance, which has increased its turnover from €10.4 million (6 months) to €26.5 million, and the transfer of the ATM and APM lines to the Saint-Vallier site.
Gaussin reported strong improvements in results for the second half of 2021 compared to the first half of the year. Revenues and income license was €32.3 million compared to €20.5 million in the first half and net income was €2.8 million compared to a loss of €9.8 million in the first half of 2021 (see PR of H1 results on October 31, 2021).
EBITDA for the year was close to break-even at -€0.4 million reflecting rising input costs and significant levels of R&D activity.
Including the contribution of the strong improvements in financial results in the second half of the year, the net loss was -€7.3 million for the year. This result is mainly impacted by significant provisions of €6.4 million.
GAUSSIN’s commercial growth is a testament to the technological advances highlighted at the Dakar Rally in January 2022 with the H2 Racing Truck®, the most powerful hydrogen-powered truck in the world.
Under a compressed timetable, the truck was developed in barely a year by GAUSSIN’s R&D teams and has begun a world tour. The H2 World Tour is intended to broaden awareness of Gaussin’s products and promote the deployment of licenses and sales of the range’s flagship products, logistics and port vehicles.
The order for 36 APM® 75T HEs placed by Bolloré Ports and the Maersk group in 2021 for the CIT port terminal in Abidjan is evidence of growing customer acceptance of our products. This order, which is currently being delivered, demonstrates the success of GAUSSIN’s clean port vehicles, which are also used in their autonomous version at the Port of Singapore, via the license sold to STELS.
Demand for clean and intelligent mobility is anticipated to remain strong in the years to come. GAUSSIN is perfectly positioned to seize the opportunities that will arise. Based on the order book at year-end, Gaussin expects to generate strong growth in 2022 and is targeting turnover of €75 million.
Highlights of the Year:
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A business model of licenses adapted to the explosion of freight costs
The GAUSSIN group is implementing a strategy for deploying its technology on a worldwide scale based on the Global Licensing program and the development of strategic partnerships with major international players. This strategy enables GAUSSIN products to be rapidly deployed internationally, both for distribution and maintenance. It is also a response to the explosion of freight costs insofar as it makes it possible to produce locally. Finally, this business model is low capital intensive. The group has signed three licenses to date and is still aiming for forty or so within two and a half years.
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A scaled industrial tool with the possibility of extension
GAUSSIN expanded its manufacturing footprint in 2021, increasing its production capacities by 8,000 square meters at the new site of Saint-Vallier, in the Saône-et-Loire region. This new site, which covers several hectares and is dedicated to the production of ATM ® logistics and APM® port vehicles, will enable the company to meet the increased demand on the European and American markets, in particular. The group has the possibility of extending on site up to 28,000 square meters, which would bring the annual production capacity to 2,400 vehicles, and enable Gaussin to satisfy the demands of customers in e-commerce, transport and logistics.
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Referencing with major American players in e-commerce, transport and logistics
Master Purchase Agreements (MPAs) have been signed with the American giants of e-commerce, transport and logistics, which allows worldwide referencing of GAUSSIN vehicles, an essential first step in pursuing the commercial relationship.
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A complete range of clean and intelligent vehicles
GAUSSIN’s range of electric vehicles includes the ATM, dedicated to logistics, the APM, dedicated to port transport, and also the AGV, an autonomous vehicle which is used in the port of Singapore. GAUSSIN has enhanced its range by offering these vehicles in a hydrogen version. The AGV H2, the launch of which was announced last month (see press release of March 16, 2022), is the latest hydrogen vehicle from the group. It will help port operators to go immediately to zero emissions while offering a longer range, shorter and less frequent refueling, as well as silent and efficient transport. GAUSSIN’s range of clean vehicles also includes vehicles for airport logistics, with the innovation represented by the AMDT FULL ELEC, a multi-directional car transporter for air freight pallets for which Qatar Airways Cargo is the first customer.
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A global presence
2021 was the year of internationalization for GAUSSIN with the opening of subsidiaries in the heart of key markets. Gaussin North America, which opened in January and is based in New York, enables the group to cover the key market of the United States and Canada, where GAUSSIN has already forged valuable partnerships with customers such as Plug Power and Robotics Research, and above all MPAs with the American leaders in E-Commerce and logistics. Gaussin Asia Pacific, based in Singapore, positions the group as a major player in this region which has become the crossroads of international trade, while Gaussin China allows the group to strengthen its presence in the world’s largest truck market.
2. Sales and licensing revenues of €52.8 million in 2021, up 30% from €40.6 million in 2020
Revenues
The GAUSSIN Group generated consolidated revenues of €41.0 M in 2021, compared with €20.6 M for 2020, an increase of +42% pro forma including METALLIANCE for all of 2020 and +99% on a reported basis. (Gaussin acquired the company in July 2020).
The logistics businesswhich includes clean, fully electric or hydrogen vehicles (ATM, TSBM and MTO ranges), generated revenues of €10.0 million, compared with €3.9 million in 2020, an increase of +156%.
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Of note, 2021 revenue includes the delivery of 18 ATMs, 3 AIVs, 4 parade floats for Eurodisney, industrial and self-propelled trailers as well as after-sales services.
The port businesswhich is aimed at operators of major ports around the world with the range of automatic container transport vehicles (AGV PERFORMANCE, AIV REVOLUTION and APM 75T AUTONOMOUS) or with drivers (APM 75T), Power Pack Full Elec batteries, as well as Docking Stations , generated revenues in fiscal year 2021 of €3.0 million, compared with revenues of €5.8 million at December 31, 2020. Revenue associated with the order for 36 APM 75T by Bolloré Ports and the Maersk Group for €9.9 million will be recognized in 2022 .
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Revenues reflect mainly the delivery of 7 APMs to CENTREPORT in New Zealand.
The airport activity is aimed at airport operators worldwide with a range of zero emission airport transporters (AAT and AMDT), designed to transport baggage in ULD (Unit Load Device) or Cargo (all types of PMC pallets or refrigerated modules). This activity generated revenues of € 0.6 million in fiscal year 2021, compared with no revenues for 2020 when these new products were launched.
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Revenues reflect mainly to the delivery of an ART to TotalEnergies.
METALLIANCEwith its machines for underground works, railway works and road works, generated revenues of €26.5 million for 2021, compared with €10.4 million for 2020 (2020 revenues generated between July 1 and December 31 following the acquisition of METALLIANCE in July 2020).
Licenses
Total license revenues were €11.7 million for 2021 consisting of the licenses signed with NEXPORT, for €10 million, and STELS in Singapore for €1.7 million.
The new partnership with NEXPORT, focused on New Zealand and Australia, validates the strategy implemented by GAUSSIN to enhance its technological know-how.
3. Group results for the year 2021
| Consolidated income statement of the GAUSSIN Group | ||||||
| € in thousands | 1st sem 2021 |
2nd sem 2021 |
2021 |
2020 |
Change in K€ |
Change in % |
| Turnover |
19,943 |
21,077 |
41,020 |
20,635 |
20,385 |
99% |
| licensing revenues |
540 |
11,200 |
11,740 |
20,000 |
(8,260) |
(41%) |
| Turnover and licensing revenues |
20,483 |
32,277 |
52,760 |
|||
Full story available on Benzinga.com
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