Page 1

cogelec PRESS RELEASE 2020 Annual Results Good performance in an unprecedented context Q1 revenue Accelerated growth : 35 % Mortagne - sur - Sèvre , France , 21 April 2021 , COGELEC ( ISIN : FR0013335742 / ticker : ALLEC ) , the French leader in access control systems for collective housing , is today releasing its results for the fiscal year ended 31 December 2020 . At its meeting of 20 April 2021 , the Board of Directors approved the annual financial statements for fiscal year 2020. These financial statements were audited and the associated certification reports are currently being prepared . IFRS ( € m ) 2020 2019 % change Revenue -France -Europe Gross margin As a % of revenue Personnel expenses 40.4 40.0 + 1.1 % 36.0 36.4 -1.2 % 4.4 3.5 + 24.9 % 26.4 25.5 + 3.6 % 65.3 % 63.7 % + 1.6 % -16.0 -14.2 + 12.8 % External expenses -8.2 -8.2 -0.4 % EBITDA ( 1 ) 1.7 2.8 -40.7 % Depreciation and amortisation -4.2 -3.7 + 14.9 % allocations / reversals Current operating income ( expense ) -2.0 -0.9 Operating income ( expense ) -2.6 -0.9 Financial income ( expense ) -0.4 -0.1 NA Tax expenses -1.1 -1.9 -41.9 % Net income -4.0 -2.9 -37.9 % ( 1 ) COGELEC defines EBITDA as operating income before depreciation , amortisation and impairment of assets , net of reversals . 1