Mortagne-sur-Sèvre, France, 7 November 2018, COGELEC (ISIN:
FR0013335742/ticker: COGEC), the French leader in access control systems for
collective housing, is today publishing its sales figures for the third quarter
Third-quarter sales amounted to EUR7.66m, compared with EUR6.72m a year
earlier, an increase of 13.9%.
This performance reflects growth in sales for both Hexact and Intratone.
Intratone's sales rose by 11.3% over the period (EUR4.6m in Q3 2018 vs. EUR4.1m
in Q3 2017), while Hexact's sales were up 20.6% (EUR0.97m in Q3 2018 vs.
EUR0.80m in Q3 2017).
Subscriptions also recorded strong growth (+25.6%), accounting for 27.6% of Q3
sales. Total sales over the first nine months of the year were up 10.5%.
As expected, COGELEC is seeing an upturn in activity with social housing
landlords in France following regulatory changes introduced at the beginning of
the year. In France, sales rose by 15.4% to nearly EUR7m over the quarter.
COGELEC is also continuing its international expansion as announced at the
initial public offering and it recently finalised the creation of its
subsidiary, Intratone BV, based in Amsterdam.
Recruitment continues in subsidiaries with 18 employees, including 9 sales
representatives in Germany, 13 people including 6 sales representatives in the
UK and 6 people including 3 sales representatives in Benelux. Other
recruitments are being finalized.
Our new offer "Small collective housing - button-based intercom" was very well
received by our customers, which should be materialized in the figures from
COGELEC is actively preparing the launch of the master key Kibolt, planned for
the first quarter of 2019.
Publication of Q4 2018 sales: February 12, 2019 after market close.
COGELEC is the French leader in access control systems for collective housing.
As early as 2007, COGELEC created the first universal wireless intercom
solution under the Intratone(r) brand. This unique offering boasts a disruptive
economic model which simultaneously includes equipment, an intercom solution
and an online management tool.
COGELEC has already outfitted 850,000 dwellings, including 150,000 new
dwellings in 2017, out of a potential total of 15.4 million dwellings in
Present on the export market for five years, COGELEC also offers its solutions
in Germany, the United Kingdom, the Netherlands and Belgium through existing
subsidiaries or those currently being launched.
Based on an indirect distribution model associated with a strong local
relationship with end customers (social housing landlords and co-owners'
associations), COGELEC posted solid performances with revenue up nearly 17% to
EUR30.6m in 2017, for current operating income of EUR5m and net income of
EUR2.9m. COGELEC aims to triple its revenue to EUR90 million by 2021. For more