Mortagne-sur-Sèvre, France, 12 February 2019 - COGELEC (ISIN: FR0013335742/
ticker: COGEC), the French leader in access control systems for building
complexes, is today publishing its sales figures for the fourth quarter of
Fourth-quarter sales increased 7.7% to EUR10.22m, compared with EUR9.5m a year
Growth was driven by sales of Intratone, which rose 19.8% over the period
(EUR6.7m in Q4 2018, compared to EUR5.6m in Q4 2017). Sales of Hexact were
stable, in line with our expectations.
Total 12-month sales increased 9.6% to EUR33.6m.
Strong growth expected in 2019
Consistent with the growth plan presented at the time of our IPO, 2019 stands
to gain from several levers:
- Growth in the installed base, which exceeded the one million mark in terms of
equipped housing at the start of the year;
- Our international roll-out, with the ramp-up in the salesforce.
o 15 sales representatives in Germany, up from 9 in early November,
o 7 sales representatives in the UK, up from 6 in early November,
o 4 sales representatives in the Benelux region, up from 3 in early November.
That gives us a total salesforce of 26 sales representatives and a headcount of
48 employees in international markets. The last of these recruitments are now
being finalised, which rounds off the planned roll-out phase.
- Cogelec's universal key solution, Kibolt, which is due to come on the market
at the end of March.
Publication of 2018 results - 24 April 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 offer 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 information: www.cogelec.fr