2016: Continued growth



Croissance 2016 Socomec Holding

  Turnover (M€)



Résultat d'exploitation 2016 Socomec Holding

Operating profit (EBIT)
In M€
In % of turnover

Net profit
  In M€
  In % of turnover


Financement 2016 Socomec Holding

Corporate financing
  Equity capital (M€)
  % debt-to-equity ratio


A mixed economic environment

2016 shows no real break with recent years: global economic growth has remained stable at 3% with signs of acceleration at the end of the year. Although weaker than expected, it has nevertheless withstood the slowdown in China and the shocks of Brexit, the election of D. Trump and the Italian referendum. Despite an acceleration in the last quarter, growth in France in 2016 reached 1.1%, which was less than expected (1.4%).

A very decent performance

Given this context, the SOCOMEC Group (SOCOMEC and E'NERGYS) put in a very decent performance in 2016, with a turnover of 491 M€ compared to 471 M€ in 2015, an increase of 4.2% for a net profit of 24.7 M€ (5.0%) compared to 21.6 M€ (4.6%) in 2015. Equity capital amounted to 213 M€, compared to 200 M€ in 2015, with a largely positive liquid assets position at 66 M€, compared to 62 M€ in 2015.
SOCOMEC, the Group's main industrial and historical hub, recorded a consolidated turnover of 481 M€ in 2016, an increase of 3% (5% excluding exchange rates) for an operating profit (EBIT) of 7.8% (8.4% at an identical exchange rate to 2015) compared to 8.5% in 2015, and a net profit of 5% (4.8% in 2015).
Growth in the Africa Middle East region, in a still difficult geopolitical context, fell by 5%, Europe grew by 2%, Asia, driven mainly by India but penalised by China, grew by 7%, and North America, as in 2015, posted strong growth of 11%.
The Critical Power Conversion business line, which since 2015 has also included Energy Storage, grew by 4%, including 13% for the Expert Services line. Power Control & Safety, after the sharp upturn in 2015, slightly lost steam in 2016 with -1%. Finally, the Energy Efficiency business line experienced an upsurge of 10%, thanks in particular to the spectacular success of the company's Digiware measurement system and the acquisition in July 2016 of ALGODUE, an Italian SME manufacturing company with annual sales of 5 M€.

A sustained momentum

In addition to the merger of ALGODUE within the Group, in 2016 SOCOMEC also acquired 35% of the share capital of Full Link, the company's long-standing Chinese distributor based in Hong Kong. This followed the acquisition of Swiss-based UPS Technologies at the end of 2015.
E'NERGYS, the Group's services division that was set up 2 years ago to extend the traditional service provision offered to our customers (in particular by taking better account of current changes such as the energy transition and the digital revolution), has begun to gain real importance this year. This division has grown strongly with the addition of four new companies (M'GYS, UTILITIES PERFORMANCE, GENERSYS, AGORA/CALYCE) that now form a group of six companies that are experts in energy performance and the optimisation of the water cycle, representing a consolidated turnover of 32 M€ for some 230 employees.


The right strategy, the right resources and the determination to succeed

Our main objective for 2016, which was to maintain the pace of profitable growth, has been achieved. As always, the uncertainties ahead of us are many but we have the cards in hand to make 2017 a great success in terms of financial health, dynamism, clear objectives, commitment and the calibre of our employees. The target of 507 M€ for our turnover in 2017 (an increase of 5.6% for an EBIT of 8%) is in reach. As is our ambition to bring us closer to the performance of our competitors by aiming for an EBIT of 10% in 2020, excluding acquisitions!