PRESS RELEASE

H1 2023

Revenue: €32.6m (+8.7%)

Continued increase in subscriptions, slower growth in the second

quarter owing to decision-making delays Confirmation of annual growth targets

Mortagne-sur-Sèvre, France, 20 July 2023, COGELEC (ISIN: FR0013335742/Ticker: ALLEC), the French leader in access control systems for building complexes, is today releasing its revenue for first-half2023, ended on 30 June.

Revenue

2023

2022

In €m

Q1

17.2

14.3

Q2

15.4

15.7

Total H1

32.6

30.0

Change

+20.6% -2%

+8.7%

Half-year revenue totalled €32.6m, up 8.7% compared with the same period in 2022 (€30m). After a brisk start to the year, revenue dipped slightly in the second quarter, by 2% to €15.4m, compared with an extremely high level of activity in the second quarter of the previous fiscal year (+22.2% growth in Q2 2022 alone).

In addition to this substantial base effect, the second quarter was impacted by a considerable economic factor, namely a greater number of days off, which led to the postponement of General Meetings and a shift in the completion of planned facilities.

A resilient model thanks to subscriptions

Intratone, COGELEC's flagship brand, central to its service offering with a unique positioning in GSM intercoms, continues to drive the Group's sales performance in France and Europe.

In parallel to continuous growth in the installed base, subscriptions increased by 23.1% in Q2 2023 (€5.0m vs. €4.1m in Q2 2022) and by 23.2% in the first half of the year (€9.8m vs. €7.9m a year earlier). At 30 June 2023, the Intratone brand had over two million residential units.

In France, revenue fell a slight 2.4% in Q2 2023 (€13.4m vs. €13.8m in 2022) but increased 9.1% in the first half of the year to €28.5m vs. €26.1m in H1 2022.

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In Europe, commercial activity moved ahead, with revenue holding steady in Q2 2023 (€2.0m vs. €2.0m in 2022). Sales in Europe were up 6.2% in the first half of the year (€4.1m vs. €3.9m a year earlier), driven in particular by the strong performance posted in the United Kingdom.

Confirmation of strong growth outlook for the full year

With its installed base and innovative service offering, the Group is confirming its target of double-digit revenue growth for the current financial year.

Kibolt will be launched on the market as planned in the second half of the year.

Upcoming events:

First-half results: 27 September 2023, after market close

Investors' Meeting: 28 September 2023 at 10.00 a.m.

Q3 revenue: 19 October 2023, after market close

Contacts

Cogelec

Actifin

Actifin

Véronique Pochet

Ghislaine Gasparetto

Jennifer Jullia

Chief Financial Officer

Financial Communication

Financial Press Relations

+33 (0)2 72 67 00 91

+33 (0)1 56 88 11 22

+33 (0)1 56 88 11 19

investors@cogelec.fr

ggasparetto@actifin.fr

jjullia@actifin.fr

About COGELEC

COGELEC is the French leader in access control systems for building complexes. In 2007, COGELEC created the first global wireless interphone solution, marketed as part of a subscription offer, under the Intratone brand.

Based on an indirect distribution model, combined with very close-knit relations with social landlords and building complex management associations, COGELEC now operates in six countries in Europe and the Intratone brand has more than 2 million dwellings subscribed.

COGELEC is listed on the Euronext Growth Paris, and is part of the Growth AllShare, Tech Croissance and PEA-PME 150 indices.

For more information : www.cogelec.fr

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Cogelec SA published this content on 20 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 July 2023 15:55:06 UTC.