STRASBOURG, France--(BUSINESS WIRE)--Regulatory News:
Faced with the heavy decline of the stock price over the past few weeks, 2CRSi's (Paris:2CRSI) management intends to reassure its shareholders and, more broadly, all investors about its financial situation and its business prospects.
As a follow-up to the communication made at the release of the H1 2019 results, 2CRSi confirms its good sales momentum. The latter has recently translated into the gain of several new customers whose orders will contribute to the turnover in 2019, 2020 and/or beyond. In particular, it is worth mentioning the important contract signed with Airbus and Submer Technologies for the equipment of a European anti-crime agency1, hence confirming the growing interest of customers in solutions combining performance and energy savings (-50%).
The Company’s financial situation remains fully under control, with cash of € 13.5 million at the end of September (compared with € 5.5 million at the end of June). In this context, no capital increase is planned in the coming months, as the company possesses all the necessary means to comfortably fund its organic growth and to carry out an external growth transaction.
Finally, the Management repeats its commitment to inform its shareholders and more generally all investors of any significant information in the execution of its roadmap, in a spirit of transparency and in accordance with its obligations as listed company and the confidentiality constraints imposed in its business relations. In particular, the Company will inform the market as soon as it has new information concerning its Blade customer.
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2CRSi is based in Strasbourg and has subsidiaries in Manchester, Dubai and San Jose in the Silicon Valley. It specialises in the design and manufacturing of very high-performance IT servers. It provides innovative calculation, data storage and data transfer solutions to over 200 clients in 25 countries. In 2018, 2CRSi Group generated consolidated revenues of €65.2m. For further information please visit: www.2crsi.fr
1 Press release dated September 26, 2019