DJ ROCTOOL: First-half 2024 Revenue
ROCTOOL
ROCTOOL: First-half 2024 Revenue
22-Jul-2024 / 08:00 CET/CEST
Dissemination of a French Regulatory News, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
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Press Release
Le Bourget-du-Lac, 22th July 2024 - 8:00am CEST
First-half 2024 Revenue
-- Slowdown in automotive projects in an unfavorable sectoral context
-- New projects with major brands (Luxury, Beauty and Consumer Goods)
-- Strong partnership with ENRX
-- Pipeline in progress
Roctool (Euronext Growth - FR0010523167 - ALROC), specialists in mold heating and cooling technologies for plastics and
composites, achieved during the first half of 2024, consolidated sales of 3.0EUR million. This decline in activity of
-41% compared to H1 2023 and -26% compared to H1 2022, confirms the slowdown in investments felt since the end of 2023
[1], particularly in the automotive sector.
In a disrupted geopolitical context, the Group had to undergo significant project postponements in several sectors. For
example, the automotive sector, historically very dynamic and a growth driver for the Group in recent years, recorded a
sharp slowdown despite the attractiveness of Roctool's high value-added solutions, with sales down 56% year-on-year to
EUR0.8 million (i.e. 27% of turnover) in the first half of 2024, compared to EUR1.9 million (i.e. 36% of turnover) in the
first half of 2023. During this first half, while projects were delayed or cancelled (due, in particular, to the
difficulties of certain automobile subcontractors), the Group, to lessen the effects of this air gap, actively pursued
its multi-sector commercial initiatives.
ENRX and ROCTOOL on the move
As planned in their strategic agreement, Roctool and ENRX have completed the installation of the new demonstration
center in China, with the aim of promoting the technology directly within the ENRX factory in Shanghai. The
demonstration center in the United States, at the ENRX factory in Detroit, is in the installation phase and will also
be operational in the coming weeks. These two centers will be able to help accelerate the number of projects during the
second half of 2024.
Roctool technology installed at ENRX Shanghai premises in China
Note that in June 2024, ENRX and Roctool participated in a first joint exhibition in Thailand at Automotive
Manufacturing in Bangkok.
Ongoing cost reduction
Since April 2024, Roctool has implemented a strict budgetary policy to reduce its costs. The first effects will be seen
from the second half of 2024 and will accelerate in the first half of 2025. This reduction mainly affects the
workforce, and certain structural costs, particularly in Europe and Asia.
Financing of Roctool
The cash position as of June 30, 2024 was EUR0.9 million, was EUR1 million at December 2023 and as a reminder was EUR1.5
million at the end of June 2023. This reduced cash level is explained by the significant decline in sales during this
first half of 2024. The company continues to actively work on the identification and short-term implementation of
solutions to secure the financial situation. These important initiatives are combined with the acceleration of sectoral
diversification and the effort to reduce costs.
Activity for the first half of 2024
Sales of goods, including induction systems, peripherals, mold components and prototypes, stood at EUR1.8 million,
compared to EUR3.3 million in the first half of 2023.
Services, including engineering studies, installation and commissioning services with corresponding testing, generated
a turnover of EUR0.8 million in the first half of 2024, compared to EUR1.1 million in the first half of 2024. first half of
2023.
Revenues from licensing agreements, royalties and strategic agreements stood at EUR0.3 million during the first half of
the year, compared to EUR0.6 million in the first half of 2023.
A real ambition and new clients to relaunch the dynamic in the second half of the year
Despite still limited visibility, the company remains highly mobilized, and has just started new projects with major
brands in the Luxury, Beauty and Consumer Goods sectors. These new projects offer interesting prospects and could soon
partially compensate for project delays in the Automotive sector.
The pipeline of commercial opportunities is growing and the offering of R-IDST hot plates constitutes a real
opportunity on a global scale thanks to energy savings and its performance. These new cutting-edge solutions meet the
expectations of customers who are increasingly keen to adopt technologies with high added value, capable of reducing
their carbon footprint while guaranteeing optimal quality.
In response to growing demand and a market increasingly concerned with preserving the energy used, Roctool's R-IDST was
presented at the JEC World composites show (March 2024). This innovative approach to heated platens, resulting from
Roctool's technological know-how, allows users to move from a development stage to mass production like never before.
Drawing on its patent portfolio and know-how, Roctool's R-IDST solution introduces a new standard for the composites
market.
This marks a bold leap towards series production in the manufacture of composite parts, ensuring first-rate
performance. (read more in our February 29, 2024 press release)
Potential intact and strategy maintained
With a growing pipeline of commercial opportunities, an ongoing effort to diversify by sector, and the ENRX partnership
in progress, Roctool has great potential to continue winning over world leaders in a wide range of sectors. As a
reminder, Roctool technology addresses key issues for the plastics and composites industry:
-- Roctool technology makes it possible to produce plastic parts with improved qualities, eliminating the
need for finishing or painting operations. Painting is increasingly targeted by many brands worldwide in all
sectors for environmental reasons.
-- For several years now, Roctool has been positioning its technologies in various sectors, with users
looking for innovative solutions for molding recycled materials. Despite a complicated context, this trend shows no
signs of abating, quite the contrary, and is set to become an industry standard for many applications.
-- With its induction heating system, Roctool goes against the grain of more conventional technologies
(electric, water or oil). The technology delivers unrivalled heating performance and energy savings, particularly
in composite molding with its innovative hot plate technology.
Contact press / Investor relations
Aelyon
Valentine BOIVIN
+33 1 75 77 54 65
roctool@aelium.fr
About Roctool: Roctool, specializes in rapid heat and cool technologies for plastic injection and composite molding.
The processes developed by Roctool are in production in the following industries: automotive, electronics, consumer
products, renewable energy, beauty packaging and medical. Roctool is an induction molding technology, working with
plastic and composite including recycled materials. Roctool offers Engineering services,induction generators, tooling
hardware and on-site support to manufacturers around the globe. Roctool technologies are well known for removing
secondary operations which enable manufacturers to reduce the overall cost of the parts produced, as well as their
environmental impact. Headquarters are found in Le Bourget-du-Lac (France), Roctool is present in the USA, China, Japan
and Germany.
For more information: www.roctool.com
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[1] See press release of 29th April 2024
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Regulatory filing PDF file
File: PR_Roctool_CA_S12024_ENG
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Language: English
Company: ROCTOOL
Savoie Technolac Modul R
73370 LE BOURGET DU LAC
France
Internet: www.roctool.com
ISIN: FR0010523167
Euronext Ticker: ALROC
AMF Category: Inside information / Other releases
EQS News ID: 1950401
End of Announcement EQS News Service
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July 22, 2024 02:00 ET (06:00 GMT)
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