Page 1

cogelec PRESS RELEASE H1 2021 results Strong sales momentum in an unstable environment EBITDA up sharply ( 3.8x to € 3.8m ) New investments for Kibolt 2021 guidance adjusted Mortagne - sur - Sèvre , France , 29 September 2021 , COGELEC ( ISIN : FR0013335742 / ticker : COGEC ) , the French leader in access control systems for building complexes , is today releasing its results for the first half of 2021 . The Board of Directors approved the 2021 half - year financial statements at its meeting of 27 September 2021. These financial statements were audited , and the associated certification reports are currently being prepared . IFRS ( € m ) Limited review Revenue France H1 2021 IFRS 16 H1 2020 % change IFRS 16 26.1 17.7 47.8 % 23.0 15.7 46.8 % -Exports 3.1 2.0 55.8 % Gross margin 16.9 11.8 43.0 % As a % of revenue 64.8 % 67.0 % -3.3 % Personnel expenses -9.1 -7.2 26.2 % External expenses -4.1 -3.4 20.2 % EBITDA ( 1 ) 3.8 1.0 272.2 % Current depreciation and amortisation -2.6 -2.0 26.2 % allocations / reversals Current operating income ( expense ) 1.2 -0.8 257.6 % Other non - current income and expenses -3.5 -0.1 1336.9 % Operating income ( expense ) -2.2 1.0 -117.3 % Financial income ( expense ) 0.2 -0.2 215.6 % Tax expenses -0.2 -0.6 -68.9 % Net income ( expense ) -2.2 -1.8 -20.8 % ( 1 ) COGELEC defines EBITDA as operating income before depreciation , amortisation and impairment of assets , net of reversals . 1