The Board of Directors meeting on 11 October 2021 approved the Company’s financial statements and the Consolidated financial statements for the Mid-year 2021, according to the IFRS International Accounting Standards.

Half-Year Report

The turnover and consolidated results of the Gévelot Group for the first half of 2021 compared to the first half of 2020 are as follows:

Consolidated Accounts In millions of Euros	1st half 2021	1st half 2020	Year 2020
Turnover	47.4	42.7	89.5
Current operating income	0.7	- 0.6	4.1
Operating income	1.8	- 0.6	3.3
Financial income	0.5	- 0.9	- 0.9
Current pre-tax income, integrated companies	2.3	- 1.5	2.4
Tax	- 0.6	- 0.4	- 1.2
Net income of consolidated companies	1.7	- 1.9	1.2
Equity attributable to interests not conferring control	0.2	0.2	0.2
Income attributable to the parent company	1.5	- 2.1	1.0

                                                                                                                                                                                                   

KEY HIGHLIGHTS DURING THE FIRST HALF OF 2021

The Group’s Consolidated turnover for the first half of 2021 amounted to € 47.4 M, increasing of 11.2 % over the same period in 2020. At constant scope and exchange rates, the growth is 12.6 %.

It mainly consists of the Pumps Sector’s turnover, rising particularly in North America and mainly following to the acquisition in Canada in 2020.

The Group’s current operating income amounted to a profit of € 0.7 M against a negative result of € 0.6 M at the end of June 2020.

The operating income was positive at € 1.8 M against € 0.6 M negative at the end of June 2020.

The financial result amounted to a profit of € 0.5 M against a loss of € 0.9 M in the first half of 2020.

Given the aforementioned facts and after tax, the Net income for the first 2021 half-year (Group share) shows a benefit of € 1.5 M against a loss of € 2.1 M in the first 2020 half-year.

                                                                                                                                                      

GROUP OUTLOOK FOR 2021

Pumps Sector

At constant scope, the activity of this sector could increase, mainly in all sectors and especially in North America.

 

Overall Group

The Turnover of Gévelot SA consisting of rental products and services will be stable.

The consolidated turnover at constant scope should rise compared with the fiscal year 2020.

The 2021 consolidated net income should remain in profit.

Discussions are still ongoing in order to develop the sector's activity worldwide.