BLUELINEA – Successful dimensional change in 2021 and positive EBITDA target confirmed in 2022 – 28/04/2022 – 07:00

Paris, Thursday 28 April 2022

Bluelinea, a major player in the “Silver Economy” sector in France, presents its 2021 annual results and its turnover for the 1er quarter 2022.

On this occasion, Laurent Levasseur, Chairman of the Board of Directors of Bluelinea stated:

In 2021, we demonstrated our ability to change dimension by returning to the path of robust organic growth and executing the structuring acquisition of Securitas Téléassistance. The effect is visible from 1er quarter of 2022 with double-digit growth and cost savings on track. Thanks to the work of our teams and if we maintain an annual growth rate of about 15%, the Bluelinea company will be able to claim positive EBITDA from this year 2022.

We are now in the best possible position to make Bluelinea a key player in the Silver Economy and more alert than ever to opportunities to accelerate the upward spiral of solid, sustainable and profitable growth we are now in.

Data in k€[1]
French accounting standards
2020 consolidated 2021 consolidated 2021 pro forma
sales 6.825 7,524[2] 9.538
EBITDA[3] (1,549) (2.388) (2145)
Operation result (3,033) (3.224) (3,569)
bottom line (102) (306) (306)
Current result (3,135) (3,530) (3,875)
exceptional result 109 (133) (140)
Investigate tax credit 325 360 360
Net profit (2,701) (3.303) (3,655)

The consolidated turnover for the 2021 financial year, before the integration of Securitas Téléassistance, amounts to €7,524k, an increase of 10% compared to 2020. By integrating the turnover of Securitas Téléassistance, the turnover comes Pro forma turnover for the new entity at €9,538,000 and confirms the change in size enabled by this structuring acquisition.

As announced, at the end of 2021 Bluelinea implemented a plan to optimize its organization and its costs, with the aim of achieving recurring savings of €1.4 million in operating costs over a full year from 2022. workforce has increased from 77 employees at the end of 2020 to 83 employees today, ie an 8% increase in headcount against a 40% growth in pro forma revenue.

Furthermore, the pro forma accounts show a positive contribution from Securitas Téléassistance to the pro forma EBITDA of €243,000. These favorable trends, coupled with the growth momentum confirmed in early 2022 (see below), allow Bluelinea to quietly target positive EBITDA by the end of 2022, as already announced.

Taking into account the amortization of capitalized development costs, the operating result amounts to -3,224 k€. The net profit, including the Research Tax Credit, amounted to -€3,303k.

Obtain new financing to preserve cash

In 2021, the company financed its activity and its investments by reducing its working capital needs by €1,750,000, taking out three new loans (state guaranteed loan and Bpifrance loan) for an amount of €1,200k, and the support of its shareholders through the exercise of warrants granted free to everyone for €563 k. The Securitas Téléassistance acquisition is self-financed with a 2021 and 2022 payment schedule, partially covered by the sale of treasury shares in 2021.

The Group’s cash position was €771k at December 31, 2021, compared to €829k at the end of 2020, for financial debt of €3.992k, compared to €3,019k at the end of 2020.

Acceleration of commercial momentum in 1er quarter 2022

Unaudited consolidated data in k€
French accounting standards
1st quarter 2021 Q1 2022 Rate
B2C activity – Seniors & Home 940 1,506 +60%
B2B activity – Branches 895 1,267 +42%
bluelinea 1835 2.773 +51%

1er quarter of 2022 shows very good commercial momentum, characterized by robust organic growth and the gradual integration of the former Securitas Téléassistance. The consolidated turnover thus amounts to € 2,773,000 compared to € 1,835,000, an increase of 51%. Organic growth is at a record level of 26%.

The B2B activity of the Branches division increased by 42% thanks to the ramp-up SERENEA which equipped 339 branches at the end of March 2022, compared to 303 at the end of 2021. EHPADs, shared housing for seniors, healthcare facilities and specialized institutions SERENEA construct objective indicators for the quality of service in these residential areas (eg response time to nurse calls). Momentum remains strong with an order book at the end of March 2022 of €1,450k.

The Senior & Home division, which includes the B2C activity, benefits from solid organic growth of 10% as well as from the contribution of the former Securitas Téléassistance. At the end of March 2022, the division had 53,847 subscribers compared to 52,273 at the end of December 2021, an increase of 1% market share in 3 months (8% estimated). In particular, the Group benefits from its indirect development strategy through partners (B2B2C) and local authorities (B2CT).

Next meeting: half-year turnover 2022, Wednesday, July 6, 2022 (before market opening)

About Bluelinea:

“Caring for loved ones, whether they are elderly or disabled, at home or in an institution” is the main mission of Bluelinea, the first SilverTech to be listed on Euronext Growth.

The activity “Seniors & Home” accompanies families and their elderly, day and night, thanks to the deployment of solutions and services “HELP OUT”† At the same time, the activity “Connected Branches” protects residents and assists caregivers and staff in colocations between seniors, service flats, nursing homes, specialized disability centers or more broadly in healthcare institutions thanks to the unique modular solution « SERENEA

With this complementary expertise in solutions and services aimed at: course “aging well”, Bluelinea positions itself as an important player with families, with kindness and responsibility.

[1] The consolidated accounts for 2021 are unaudited. The 2021 proforma accounts are provided for information purposes and have not been audited. They integrate the activity of Securitas Teleassistance into 1er January 2021 to December 31, 2021.

[2] €7,471k in unaudited data published January 4, 2022

[3] Operating profit excluding depreciation and provisions, reversal of provisions, taxes and levies

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