Income Statement WE.CONNECT

Stocks

ALWEC

FR0013079092

Electronic Equipment & Parts

Market Closed - Euronext Paris 09:25:00 29/09/2026 pm IST			5-day change	1st Jan Change
23.00 ^EUR	-0.43%		0.00%	-8.00%

10/07	WE.Connect boosts revenue by a third thanks to acquisitions
30/04	We.Connect SA Reports Earnings Results for the Full Year Ended December 31, 2025	CI

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Published financial data: WE.CONNECT

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021 (EUR)	2022 (EUR)	2023 (EUR)	2024 (EUR)	2025 (EUR)
Revenues	22Cr	24Cr	26Cr	30Cr	45Cr
Other Revenues, Total	-	-	-	-3L	-
Total Revenues	22Cr	24Cr	26Cr	30Cr	45Cr
Cost of Goods Sold, Total	20Cr	21Cr	23Cr	27Cr	41Cr
Gross Profit	1.99Cr	2.51Cr	2.96Cr	3.34Cr	4.35Cr
Selling General & Admin Expenses, Total	58.33L	84.72L	98.01L	1.13Cr	1.6Cr
Depreciation & Amortization - (IS)	11.33L	7L	10.86L	7L	67.25L
Other Operating Expenses	38.43L	68.7L	79.74L	89.39L	-2.04Cr
Other Operating Expenses, Total	1.08Cr	1.61Cr	1.89Cr	2.09Cr	24.14L
Operating Income	91.36L	90.86L	1.08Cr	1.25Cr	4.11Cr
Interest Expense, Total	-3L	-5L	-9L	-9L	-7L
Interest And Investment Income	3L	9L	1L	1L	-
Net Interest Expenses	31.03T	4L	-7L	-7L	-7L
Currency Exchange Gains (Loss)	-5L	2.82T	5L	-5L	2L
Other Non Operating Income (Expenses)	1	-2	-	-2	29.6L
EBT, Excl. Unusual Items	86.47L	94.76L	1.05Cr	1.13Cr	4.36Cr
Gain (Loss) On Sale Of Investments	-2L	-11.54L	-3L	-5L	-17.77L
Gain (Loss) On Sale Of Assets	-	-	-	-	36.9T
Other Unusual Items	-6L	16.33L	21.94L	-14.85L	-12.76L
EBT, Incl. Unusual Items	78.65L	99.54L	1.24Cr	93.41L	4.05Cr
Income Tax Expense	15.11L	20.77L	28.44L	16.3L	30.6L
Earnings From Continuing Operations	63.54L	78.78L	95.48L	77.11L	3.75Cr
Net Income to Company	63.54L	78.78L	95.48L	77.11L	3.75Cr
Minority Interest	-	-	-	-	-
Net Income - (IS)	63.54L	78.78L	95.48L	77.11L	3.75Cr
Net Income to Common Incl Extra Items	63.54L	78.78L	95.48L	77.11L	3.75Cr
Net Income to Common Excl. Extra Items	63.54L	78.78L	95.48L	77.11L	3.75Cr
Per Share Items
Net EPS - Basic	2.33	2.88	3.48	2.78	12.72
Basic EPS - Continuing Operations	2.33	2.88	3.48	2.78	12.72
Basic Weighted Average Shares Outstanding	27.23L	27.33L	27.46L	27.74L	29.47L
Net EPS - Diluted	2.33	2.88	3.48	2.78	12.72
Diluted EPS - Continuing Operations	2.33	2.88	3.48	2.78	12.72
Diluted Weighted Average Shares Outstanding	27.23L	27.33L	27.46L	27.74L	29.47L
Normalized Basic EPS	1.98	2.17	2.39	2.54	9.24
Normalized Diluted EPS	1.98	2.17	2.39	2.54	9.24
Dividend Per Share	0.4	0.4	0.4	0.4	0.4
Payout Ratio	-	13.99	11.63	14.41	3.15
Supplemental Items
EBITDA	93.93L	94.39L	1.11Cr	1.28Cr	4.2Cr
EBITA	92.24L	90.86L	1.08Cr	1.25Cr	4.14Cr
EBIT	91.36L	90.86L	1.08Cr	1.25Cr	4.11Cr
EBITDAR	1.01Cr	1.07Cr	1.29Cr	1.49Cr	4.57Cr
Total Revenues (As Reported)	-	-	-	-	-
Effective Tax Rate - (Ratio)	19.21	20.86	22.95	17.45	7.55
Total Current Taxes	-	-	-	-	-
Total Deferred Taxes	-	-	-	-	-
Normalized Net Income	54.04L	59.22L	65.63L	70.52L	2.72Cr
Non-Cash Pension Expense	19.29T	35.59T	-52.51T	34.17T	97.49T
Supplemental Operating Expense Items
Advertising Expense	1L	4L	5L	7L	11.7L
Selling and Marketing Expenses	-	-	-	-	-
Net Rental Expense, Total	7L	12.61L	18.61L	20.95L	36.76L
Imputed Operating Lease Interest Expense	53.25T	2L	4L	6L	9L
Imputed Operating Lease Depreciation	7L	11.06L	14.66L	15.25L	27.9L
Maintenance & Repair Expenses, Total	2L	-	-	-	5L

Fiscal Period: December	2021 (EUR)	2022 (EUR)	2023 (EUR)	2024 (EUR)	2025 (EUR)
Assets
Cash And Equivalents	3.12Cr	2.45Cr	2.75Cr	3.55Cr	4.37Cr
Short Term Investments	48.63L	51.33L	47.03L	44.41L	43.47L
Total Cash And Short Term Investments	3.6Cr	2.97Cr	3.22Cr	3.99Cr	4.81Cr
Accounts Receivable, Total	3.37Cr	3.99Cr	4.31Cr	5.56Cr	13Cr
Other Receivables	79.88L	1.5Cr	1.28Cr	2.35Cr	3.82Cr
Total Receivables	4.17Cr	5.48Cr	5.59Cr	7.91Cr	17Cr
Inventory	5.12Cr	6.58Cr	6.27Cr	9.43Cr	11Cr
Prepaid Expenses	31.4T	2L	2L	2L	-
Deferred Tax Assets Current	2L	2L	70.21T	2L	-
Other Current Assets, Total	-	1	-	-	-1
Total Current Assets	13Cr	15Cr	15Cr	21Cr	33Cr
Gross Property Plant And Equipment	10.48L	30.2L	31.91L	39.57L	91.82L
Accumulated Depreciation	-5L	-22.88L	-23.79L	-32.92L	-72.6L
Net Property Plant And Equipment	5L	7L	8L	7L	19.22L
Long-term Investments	27.48L	29.09L	38.86L	26.06L	15.59T
Goodwill	14.02L	15.65L	15.65L	17.11L	17.11L
Other Intangibles, Total	4L	5L	4L	10L	19.59L
Loans Receivable Long-Term	15.09T	14.67T	6.11T	16.25T	4L
Other Long-Term Assets, Total	8L	11.65L	9L	10.54L	75.14L
Total Assets	14Cr	16Cr	16Cr	22Cr	34Cr
Liabilities
Accounts Payable, Total	6.63Cr	6.16Cr	7.2Cr	12Cr	18Cr
Accrued Expenses, Total	33.55L	86.99L	74.8L	94.9L	-
Short-term Borrowings	29.66L	1.7Cr	-	43.4L	30.11L
Current Portion of Long-Term Debt	1.31Cr	73.52L	-	64.43L	39.12L
Current Income Taxes Payable	1L	10L	14.71L	14.98T	-
Other Current Liabilities	5.29T	2L	14.21T	24.38T	-
Total Current Liabilities	8.59Cr	9.59Cr	8.1Cr	14Cr	19Cr
Long-Term Debt	1.18Cr	1.61Cr	2.38Cr	1.65Cr	1.34Cr
Unearned Revenue Non Current	-	-	-	-	-
Pension & Other Post Retirement Benefits	2L	3L	2L	3L	-
Deferred Tax Liability Non Current	-	-	-	-	-
Other Non Current Liabilities	10.5L	25.77L	25.28L	23.04L	4.31Cr
Total Liabilities	9.89Cr	11Cr	11Cr	16Cr	25Cr
Common Stock, Total	1.44Cr	1.45Cr	1.45Cr	1.54Cr	1.55Cr
Additional Paid In Capital	9L	9L	9L	31.3L	31.3L
Retained Earnings	-	-	-	-	-
Comprehensive Income and Other	2.08Cr	2.74Cr	3.57Cr	4.25Cr	7.83Cr
Total Common Equity	3.61Cr	4.28Cr	5.12Cr	6.1Cr	9.7Cr
Minority Interest	-12.06T	-	-	-	-
Total Equity	3.61Cr	4.28Cr	5.12Cr	6.1Cr	9.7Cr
Total Liabilities And Equity	14Cr	16Cr	16Cr	22Cr	34Cr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	27.23L	27.33L	27.47L	27.47L	29.39L
ECS Total Common Shares Outstanding	27.23L	27.33L	27.46L	29.17L	29.39L
Book Value / Share	13.27	15.67	18.63	20.92	32.99
Tangible Book Value	3.43Cr	4.08Cr	4.91Cr	5.84Cr	9.33Cr
Tangible Book Value Per Share	12.6	14.91	17.9	20.01	31.74
Total Debt	2.78Cr	4.05Cr	2.38Cr	2.72Cr	2.04Cr
Net Debt	-82.14L	1.08Cr	-83.43L	-1.27Cr	-2.77Cr
Debt Equivalent Oper. Leases	57.18L	1.01Cr	1.49Cr	1.68Cr	2.94Cr
Minority Interest, Total (Incl. Fin. Div)	-12.06T	-	-	-	-
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Others	5.36Cr	6.91Cr	6.66Cr	9.99Cr	12Cr
Buildings, Total	-	-	-	5L	13.73L
Machinery, Total	9L	28.9L	29.69L	31.76L	51.6L
Full Time Employees	110	212	167	153	300
Accumulated Allowance for Doubtful Accounts (Supple)	13.11L	13.73L	1L	3L	20.34L

Fiscal Period: December	2021 (EUR)	2022 (EUR)	2023 (EUR)	2024 (EUR)	2025 (EUR)
Net Income	63.54L	78.78L	95.48L	77.11L	3.75Cr
Depreciation & Amortization - CF	2L	4L	3L	3L	7L
Amortization of Goodwill and Intangible Assets - (CF)	88.06T	-	-	-	3L
Depreciation & Amortization, Total	3L	4L	3L	3L	10L
Amortization of Deferred Charges, Total - (CF)	-	1L	2L	2L	-
(Gain) Loss From Sale Of Asset	-7.9T	-4.9T	-2L	-	43.72T
Other Operating Activities, Total	4L	14L	-4L	-38.82T	-2.71Cr
Change in Other Net Operating Assets	-1.19Cr	-2.63Cr	1.12Cr	-58.94L	-78.46L
Cash from Operations	-48.85L	-1.65Cr	2.07Cr	22.53L	35.27L
Capital Expenditure	-14.48L	-16.91L	-6L	-12.51L	-23.2L
Sale of Property, Plant, and Equipment	8L	5L	7L	23.05L	36.9T
Cash Acquisitions	-	-	-	-1L	1.52Cr
Divestitures	-	5L	-	-	-
Investment in Marketable and Equity Securities, Total	-	-	-	-	21.11L
Other Investing Activities, Total	-	-	-	-	-1
Cash from Investing	-7L	-7L	81.93T	10L	1.5Cr
Long-Term Debt Issued, Total	34.44L	1.7Cr	30L	1.33Cr	10.4L
Total Debt Issued	34.44L	1.7Cr	30L	1.33Cr	10.4L
Short Term Debt Repaid, Total	-	-	-	-	-25.84T
Long-Term Debt Repaid, Total	-53.47L	-1.83Cr	-90.27L	-85.5L	-65.6L
Total Debt Repaid	-53.47L	-1.83Cr	-90.27L	-85.5L	-65.86L
Issuance of Common Stock	-	-	-	30.81L	-
Repurchase of Common Stock	-	-	-	-282	-7.06T
Common Dividends Paid	-	-11.02L	-11.11L	-11.11L	-11.8L
Common & Preferred Stock Dividends Paid	-	-11.02L	-11.11L	-11.11L	-11.8L
Other Financing Activities, Total	-4L	-10.87L	-91.31T	2L	-65
Cash from Financing	-23.34L	-34.54L	-72.29L	69.31L	-67.33L
Net Change in Cash	-78.69L	-2.07Cr	1.35Cr	1.01Cr	1.18Cr
Supplemental Items
Levered Free Cash Flow	-62.65L	-2.22Cr	1.78Cr	6L	-3.11Cr
Unlevered Free Cash Flow	-60.98L	-2.18Cr	1.83Cr	11.02L	-3.07Cr
Change In Net Working Capital	1.06Cr	2.63Cr	-1.16Cr	59.37L	5.5Cr
Net Debt Issued / Repaid	-19.04L	-12.65L	-60.27L	47.5L	-55.46L

Fiscal Period: December	2021 (EUR)	2022 (EUR)	2023 (EUR)	2024 (EUR)	2025 (EUR)
Profitability
Return on Assets	4.24	3.88	4.25	4.12	9.1
Return on Total Capital	9.26	7.71	8.49	9.57	24.98
Return On Equity %	19.33	19.96	20.32	13.74	47.45
Return on Common Equity	19.33	19.95	20.32	13.74	47.45
Margin Analysis
Gross Profit Margin %	9.17	10.59	11.21	11.14	9.59
SG&A Margin	2.68	3.57	3.71	3.77	3.54
EBITDA Margin %	4.32	3.97	4.2	4.27	9.26
EBITA Margin %	4.24	3.83	4.07	4.17	9.12
EBIT Margin %	4.2	3.83	4.07	4.17	9.05
Income From Continuing Operations Margin %	2.92	3.32	3.62	2.57	8.26
Net Income Margin %	2.92	3.32	3.62	2.57	8.26
Net Avail. For Common Margin %	2.92	3.32	3.62	2.57	8.26
Normalized Net Income Margin	2.48	2.49	2.49	2.35	6
Levered Free Cash Flow Margin	-2.88	-9.33	6.72	0.19	-6.86
Unlevered Free Cash Flow Margin	-2.8	-9.19	6.93	0.37	-6.76
Asset Turnover
Asset Turnover	1.62	1.62	1.67	1.58	1.61
Fixed Assets Turnover	437.4	378.82	342.11	406.34	350.92
Receivables Turnover (Average Receivables)	5.49	6.46	6.37	6.08	4.8
Inventory Turnover (Average Inventory)	4.61	3.63	3.65	3.39	4.01
Short Term Liquidity
Current Ratio	1.5	1.57	1.87	1.52	1.74
Quick Ratio	0.9	0.88	1.09	0.85	1.15
Operating Cash Flow to Current Liabilities	-0.06	-0.17	0.26	0.02	0.02
Days Sales Outstanding (Average Receivables)	66.5	56.52	57.34	60.18	75.99
Days Outstanding Inventory (Average Inventory)	79.21	100.59	100.07	107.82	91.01
Average Days Payable Outstanding	116.92	102.84	105.4	118.16	128.73
Cash Conversion Cycle (Average Days)	28.8	54.26	52.01	49.85	38.27
Long Term Solvency
Total Debt/Equity	77.02	94.53	46.58	44.63	21
Total Debt / Total Capital	43.51	48.59	31.78	30.86	17.36
LT Debt/Equity	32.55	37.57	46.58	26.97	13.86
Long-Term Debt / Total Capital	18.39	19.31	31.78	18.65	11.45
Total Liabilities / Total Assets	73.25	72.83	67.77	72.36	71.8
EBIT / Interest Expense	34.05	17.32	12.6	14.4	57.33
EBITDA / Interest Expense	35.01	17.99	12.99	14.76	58.66
(EBITDA - Capex) / Interest Expense	29.61	14.77	12.33	13.32	55.42
Total Debt / EBITDA	2.96	4.29	2.15	2.13	0.48
Net Debt / EBITDA	-0.87	1.14	-0.75	-0.99	-0.66
Total Debt / (EBITDA - Capex)	3.5	5.22	2.27	2.36	0.51
Net Debt / (EBITDA - Capex)	-1.03	1.39	-0.79	-1.1	-0.7
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	2.89	9.19	11.21	13.58	51.2
Gross Profit, 1 Yr. Growth %	14.27	26.05	17.78	12.88	29.19
EBITDA, 1 Yr. Growth %	13.89	0.61	17.43	15.85	225.55
EBITA, 1 Yr. Growth %	13.76	-0.55	18.32	16.31	230.99
EBIT, 1 Yr. Growth %	12.67	-0.55	18.32	16.31	228.64
Earnings From Cont. Operations, 1 Yr. Growth %	23.49	23.98	21.2	-19.24	386.16
Net Income, 1 Yr. Growth %	23.49	23.98	21.2	-19.24	386.16
Normalized Net Income, 1 Yr. Growth %	6.26	9.59	10.82	7.45	283.53
Diluted EPS Before Extra, 1 Yr. Growth %	23.11	23.52	20.62	-20.04	357.55
Accounts Receivable, 1 Yr. Growth %	-26.13	18.42	8.1	29.04	139.76
Inventory, 1 Yr. Growth %	48.12	28.63	-4.73	50.33	17.67
Net Property, Plant and Equip., 1 Yr. Growth %	10.21	40.46	10.81	-18.1	189.19
Total Assets, 1 Yr. Growth %	0.69	16.7	0.72	39.1	55.68
Tangible Book Value, 1 Yr. Growth %	23.24	18.84	20.57	18.76	59.82
Common Equity, 1 Yr. Growth %	22.03	18.48	19.5	19.3	58.84
Cash From Operations, 1 Yr. Growth %	-1.02T	238.65	-224.99	-89.1	56.54
Capital Expenditures, 1 Yr. Growth %	-57.46	16.79	-66.41	120.25	85.4
Levered Free Cash Flow, 1 Yr. Growth %	-4.47T	253.11	-179.68	-96.85	-6.26T
Unlevered Free Cash Flow, 1 Yr. Growth %	-1.11T	257.44	-183.3	-93.97	-3.03T
Dividend Per Share, 1 Yr. Growth %	-	0	0	0	0
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	18.45	5.99	10.19	12.38	31.1
Gross Profit, 2 Yr. CAGR %	17.19	20.02	21.84	15.26	21.26
EBITDA, 2 Yr. CAGR %	11.36	6.99	8.69	16.53	94.94
EBITA, 2 Yr. CAGR %	11.54	5.85	8.47	17.31	96.21
EBIT, 2 Yr. CAGR %	26.52	5.85	8.47	17.31	95.51
Earnings From Cont. Operations, 2 Yr. CAGR %	64.54	23.73	22.58	-1.06	98.15
Net Income, 2 Yr. CAGR %	64.54	23.73	22.58	-1.06	98.15
Normalized Net Income, 2 Yr. CAGR %	24.27	7.91	10.2	9.12	103.68
Diluted EPS Before Extra, 2 Yr. CAGR %	64.72	23.32	22.06	-1.79	91.27
Accounts Receivable, 2 Yr. CAGR %	-4.37	-6.47	13.14	18.11	75.9
Inventory, 2 Yr. CAGR %	28.93	38.03	10.7	19.68	32.8
Net Property, Plant and Equip., 2 Yr. CAGR %	38.92	24.42	24.76	-4.73	53.9
Total Assets, 2 Yr. CAGR %	9.69	8.4	8.42	18.37	47.16
Tangible Book Value, 2 Yr. CAGR %	19.77	21.02	19.7	19.66	37.77
Common Equity, 2 Yr. CAGR %	19.42	20.24	18.98	19.4	37.66
Cash From Operations, 2 Yr. CAGR %	1.71	458.77	105.74	-63.09	-58.7
Capital Expenditures, 2 Yr. CAGR %	32.36	-29.52	-37.36	-13.98	102.08
Levered Free Cash Flow, 2 Yr. CAGR %	-3.58	1.14T	68.22	-84.16	32.51
Unlevered Free Cash Flow, 2 Yr. CAGR %	-7.49	502.17	73.05	-77.6	29.62
Dividend Per Share, 2 Yr. CAGR %	26.49	-	0	0	0
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	21.24	15.28	7.7	11.31	24.1
Gross Profit, 3 Yr. CAGR %	14.91	20.07	19.26	18.75	20.06
EBITDA, 3 Yr. CAGR %	22.62	7.62	10.36	10.96	64.54
EBITA, 3 Yr. CAGR %	23.3	7.01	9.86	11.03	65.77
EBIT, 3 Yr. CAGR %	22.91	16.76	9.86	11.03	65.37
Earnings From Cont. Operations, 3 Yr. CAGR %	13.54	49.73	22.88	6.66	68.2
Net Income, 3 Yr. CAGR %	13.54	49.73	22.88	6.66	68.2
Normalized Net Income, 3 Yr. CAGR %	21.78	19.17	8.87	9.28	66.28
Diluted EPS Before Extra, 3 Yr. CAGR %	13.64	49.65	22.41	6.01	64.03
Accounts Receivable, 3 Yr. CAGR %	5.57	2.69	-1.85	18.21	49.55
Inventory, 3 Yr. CAGR %	23.44	28.83	21.99	22.59	18.88
Net Property, Plant and Equip., 3 Yr. CAGR %	5.74	39.43	19.71	8.43	37.94
Total Assets, 3 Yr. CAGR %	14.06	11.98	5.78	17.81	29.69
Tangible Book Value, 3 Yr. CAGR %	18.31	19.45	20.87	19.39	31.78
Common Equity, 3 Yr. CAGR %	16.39	19.1	19.99	19.09	31.32
Cash From Operations, 3 Yr. CAGR %	27.57	51.88	239.19	-22.74	-40.26
Capital Expenditures, 3 Yr. CAGR %	-	26.95	-44.94	-4.75	11.11
Levered Free Cash Flow, 3 Yr. CAGR %	63.9	48.7	398.47	-55.33	11.8
Unlevered Free Cash Flow, 3 Yr. CAGR %	71.1	45.24	212.03	-43.49	11.82
Dividend Per Share, 3 Yr. CAGR %	16.96	16.96	-	0	0
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	23.53	20.45	16.7	14.11	16.51
Gross Profit, 5 Yr. CAGR %	17.07	17.84	17.63	18.12	20.04
EBITDA, 5 Yr. CAGR %	19.58	17.4	16.82	11.1	38.51
EBITA, 5 Yr. CAGR %	20.7	18.01	16.92	11.02	38.54
EBIT, 5 Yr. CAGR %	20.47	18.01	16.92	16.98	38.34
Earnings From Cont. Operations, 5 Yr. CAGR %	13.08	11.2	17.07	26.86	48.76
Net Income, 5 Yr. CAGR %	13.06	11.16	17.07	26.86	48.76
Normalized Net Income, 5 Yr. CAGR %	19.48	17.5	17.01	15.04	39.87
Diluted EPS Before Extra, 5 Yr. CAGR %	-	11.14	16.94	26.45	46.34
Accounts Receivable, 5 Yr. CAGR %	17.32	12.98	8.54	8.6	23.95
Inventory, 5 Yr. CAGR %	29.81	26.68	18.18	25.09	26.2
Net Property, Plant and Equip., 5 Yr. CAGR %	2.85	1.51	12.97	19.73	32.36
Total Assets, 5 Yr. CAGR %	22.33	15.99	11.77	14.49	20.71
Tangible Book Value, 5 Yr. CAGR %	20	18.31	18.86	19.54	27.36
Common Equity, 5 Yr. CAGR %	18.42	16.98	17.42	19.22	26.77
Cash From Operations, 5 Yr. CAGR %	48.43	27.68	54.44	-13.75	46.1
Capital Expenditures, 5 Yr. CAGR %	54.09	-17.2	-	8.65	-7.38
Levered Free Cash Flow, 5 Yr. CAGR %	92.41	54.79	65.67	-39.21	193.35
Unlevered Free Cash Flow, 5 Yr. CAGR %	97.54	55.19	71.94	-31.15	119.53
Dividend Per Share, 5 Yr. CAGR %	25.21	9.86	9.86	9.86	-