Covid-19 impacts activities – focus on weathering the storm until markets recoverHighlights 2020

Highlights 2020

• Due to the impact of Covid-19, revenue decreased from 332.2 million euro in 2019 to 245.2 million euro in 2020, a decrease of 26.2%.
• Operating profit (EBIT) amounts to 12.8 million euro, which is 44.4% lower than last year.
  • The EBIT is positively affected by authorities’ support received in several countries (1.7 million euro) and by a partial insurance payment for the impact of hurricane Michael (+2.9 million euro). A settlement has been reached with our insurance company.
  • The EBIT is negatively affected by 2.7 million euro one-off costs, especially restructuring costs related to the reduction of workforce.
• Cash flow from operations (EBITDA) amounts to 19.8 million euro, a 36.3% decrease compared to last year.
• Net income attributable to the shareholders amounts to 7.6 million euro (Earnings per Share of 0.97 euro), a decrease of 51.6% compared to last year.
• The Group reports net cash position of 28.3 million euro (including 10.2 million euro leasing debt) compared to a net debt of 4.4 million euro at year-end 2019.
• The Board proposes to members of the Annual Shareholders’ meeting to approve a dividend of 0.25 euro per share. Subject to approval at the Annual Shareholders’ meeting of May 18, 2021, the share will trade ex-coupon as of May 26, 2021 and the dividend will be payable as from May 28, 2021 at the counters of KBC bank upon presentation of coupon n°15.