Business Wire

ESI 3-Year Strategic Plan “OneESI 2024 – Focus to Grow”

Share

Regulatory News:

ESI Group (ISIN Code: FR0004110310, Symbol: ESI) announces its 3-year strategic plan focused on improving ESI Group’s topline and profitability. This plan will be presented and commented on Tuesday, October 5th, at 3:30pm CET during an Investor Conference.

Cristel du Rouvray, Chief Executive Officer of ESI Group says: "This 3-year plan will enable us to focus where we deliver the most value and therefore drive growth and profit for ESI that benefits all our stakeholders. This plan is an important milestone for our company, and it mobilizes the talent and energy of my entire team. I am very proud to lead a diverse team and I’m really confident that together we can achieve the expected result.”

ESI’s performance is a paradox: ESI is a key technology provider operating in a vibrant market and yet profit and growth are far below comparable and stakeholder expectations. ESI’s management believes that to unleash its potential:

  • ESI must focus on its core business to invest to win in key simulation markets;
  • ESI must globalize its distribution to serve global customers, including a globally coordinated value packaging & pricing strategy.

The Group spent the past 7 months developing this “OneESI 2024 - Focus to Grow” plan to focus on the core business and globalize operations; in recent months, management spent time explaining to an extended team of key leaders the necessity and the credibility of this plan. ESI is now entering the next phase of communicating more broadly and executing on all facets of this transformation.

Financial ambitions for 2024

To increase its competitiveness, ESI must focus to grow. The Group has already made significant progress in this direction, as communicated during its H1-FY21 results, thanks to its healthy run rate initiative, the group posted both a growth in revenue and an improvement in profitability, and in tandem a sustained reduction in headcount and costs in the past year. The Group expects to continue with this trajectory, estimating a further reduction in headcount of approximately 5% by Dec 2022 and then a stabilization of headcount. This reorganization will be implemented in the various regions of the Group in accordance with the legal rules applicable to each of them.

Accelerating in this direction, the Group announces its 2024 financial objectives. With its plan “OneESI 2024 – Focus to grow”, ESI aims to reach:

  • A high single digit growth
  • an adjusted EBIT to exceed 20%

At constant exchange rate

2022

2023

2024

Revenue
(adjusted for
special projects1)

4% - 6%

6% - 8%

7% - 9%

Adjusted EBIT2

10% - 12%

15% - 17%

20% - 22%

To achieve this plan, ESI counts on its key levers:

  • a confirmed opportunity in a growing and vibrant simulation market
  • a renewed operating model
  • a best-in-class governance
  • committed teams

By building off its accelerators, the management ambitions a higher growth beyond this 3-year horizon.

More details

To present its “OneESI 2024 – Focus to grow” plan, ESI is organizing an Investor Conference which will be held on Tuesday, October 5th, 2021 at 3:30pm CET. To access it, click HERE.

Upcoming events

  • Q3 revenues – October 28th, 2021
  • FY21 sales and results - February 28th, 2022

Forward-looking Statements

This release contains “forward-looking statements”. These statements are subject to a number of risks and uncertainties, including those related to the COVID-19 virus and associated further economic and market disruptions; further adverse changes or fluctuations in the global economy; further adverse fluctuations in our industry, foreign exchange fluctuations, changes in the current global trade regulatory environment; fluctuations in customer demands and markets; fluctuations in demand for our products including orders from our large customers; cyber-attacks; expense overruns; and adverse effects of price changes or effective tax rates. The company directs readers to its Universal Registration Document – Chapter 3 presenting the risks associated with the company’s future performance.

About ESI Group

Founded in 1973, ESI Group envisions a world where Industry commits to bold outcomes, addressing high stakes concerns - environmental impact, safety & comfort for consumers and workers, adaptable and sustainable business models. ESI provides reliable and customized solutions anchored on predictive physics modeling and virtual prototyping expertise to allow industries to make the right decisions at the right time, while managing their complexity. Acting principally in automotive & land transportation, aerospace, defense & naval, energy and heavy industry, ESI is present in more than 20 countries, employs 1200 people around the world and reported 2020 sales of €132.6 million. ESI is headquartered in France and is listed on compartment B of Euronext Paris.

For further information, go to www.esi-group.com.

Follow ESI

http://www.esi-group.com/linkedin
http://www.esi-group.com/facebook
http://www.esi-group.com/twitter
http://www.esi-group.com/youtube

_______________________
1
For the 3-year plan, the growth of revenue excludes special projects
2 Operational income – our EBIT – is adjusted for IFRS standard on leases, amortization of intangible assets related to acquisitions, stock-based compensation expense and restructuring charges

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

ESI Group
Florence Barré
investors@esi-group.com
+33 1 49 78 28 28

Verbatee - Press & Shareholder Relations
Jérôme Goaer, j.goaer@verbatee.com, +33 6 61 61 79 34
Aline Besselièvre, a.besselievre@verbatee.com, +33 6 61 85 10 05

About Business Wire

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Janssen Receives Positive CHMP Opinion for RYBREVANT® (amivantamab) for the Treatment of Patients with Advanced Non-Small Cell Lung Cancer with EGFR Exon 20 Insertion Mutations After Failure of Platinum-Based Therapy15.10.2021 19:30:00 EEST | Press release

FOR EU TRADE AND MEDICAL MEDIA ONLY. NOT TO BE DISTRIBUTED TO UK AND BENELUX BASED MEDIA The Janssen Pharmaceutical Companies of Johnson & Johnson announced today that the Committee for Medicinal Products for Human Use (CHMP) adopted a positive opinion, recommending the granting of a conditional marketing authorisation for the medicinal product amivantamab, intended for the treatment of adult patients with advanced NSCLC with activating epidermal growth factor receptor (EGFR) exon 20 insertion mutations, after failure of platinum-based therapy.3 If approved, amivantamab will be the first treatment in the European Union specifically targeting EGFR exon 20 insertion mutations for advanced NSCLC.1 “This group of patients often face a poor prognosis as there are currently no targeted therapy options for this specific mutation nor does it typically respond to existing therapies used to treat more common EGFR mutations,” 1,4,5 commented Catherine Taylor, M.D., Vice President, Medical Affairs

Leading Researchers Present 24-Plex Digital PCR Assay and Novel Multiplex Applications Uniquely Enabled by Stilla’s 6-Color naica® system15.10.2021 16:08:00 EEST | Press release

Stilla Technologies, the multiplex digital PCR company, joined researchers from SAGA Diagnostics in presenting a 24-plex digital PCR assay generated on Stilla’s six-color naica® system. To mark the platform’s global commercial launch at the American Society of Human Genetics (ASHG) 2021 Virtual Meeting, Stilla’s Cofounder and Chief Technology Officer Rémi Dangla, PhD, and researchers from SAGA Diagnostics, Fred Hutchinson Cancer Research Center, and University of Athens highlighted the new data during a discussion on how highly sensitive, multiplex digital PCR technology is transforming complex genomic data into actionable insights across a breadth of research and clinical applications. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211015005140/en/ Stilla’s six-color naica® system, the industry’s first six-color digital PCR system, answers market needs for higher performance and multiplexing technology. Learn more here: www

Boston Metal Wins S&P Global Platts Global Metals Award15.10.2021 16:04:00 EEST | Press release

Boston Metal won the New Technology for the Metals and Mining Industry award at the 2021 S&P Global Platts Global Metals Awards. Boston Metal is commercializing ground-breaking technology to decarbonize primary steelmaking. The company’s technology combines patented innovations with best practices from the aluminum and steel industries to deliver a revolutionary solution to the carbon emissions challenge facing the steel value chain. Powered by renewable electricity, molten oxide electrolysis converts iron ore into liquid metal and oxygen. The modular, scalable platform produces no CO2 emissions, is highly energy efficient, and works with a wide range of iron ore grades. “We congratulate all the winners and finalists for persevering through unique challenges and continuing to drive performance while embracing change,” said Saugata Saha, president of S&P Global Platts. Dave Ernsberger, Global Head of Pricing and Market Insight, S&P Global Platts, said: “Not surprisingly, but certainly e

The Ministry of Justice makes public the evidence supporting of the Republic of Kazakhstan’s case against Anatolie and Gabriel Stati15.10.2021 14:46:00 EEST | Press release

The Ministry of Justice has launched a new website to spotlight evidence gathered by the Republic of Kazakhstan regarding the fraud committed by Anatolie and Gabriel Stati: www.kzarbitration.com. The purpose of the website is to present the facts of the ongoing and complex legal case and provide easy access to the corresponding evidence. This public repository will increase transparency around the case and dispel the disinformation and lies perpetrated by these individuals against the Republic of Kazakhstan and its people. The evidence - in the form of court rulings, expert opinions, and other publicly available documents - confirms that the Statis have been engaged in a complex and multi-faceted fraud since at least 2006. The website explains how Anatolie and Gabriel Stati defrauded international investors of their money, falsified financial statements, fraudulently obtained audit opinions and pursued an international arbitration against the Republic of Kazakhstan to recoup from the S

TP Awards Schlumberger Sakarya Offshore Gas Field Phase-1 Contract15.10.2021 14:00:00 EEST | Press release

Schlumberger announced today a significant contract award by Turkish Petroleum (TP) for the engineering, procurement, construction and installation (EPCI) of end-to-end production solutions for the Sakarya gas field, Turkey’s largest gas reserve. The contract is awarded to Schlumberger and Subsea 7, as part of a consortium. The integrated project scope will cover subsurface solutions to onshore production, including well completions, subsea production systems (SPS), subsea umbilicals, risers, flowlines (SURF), and an early production facility (EPF). Schlumberger will deliver the well completions scope and the design, construction, and commissioning of the early production facility capable of handling up to 350 MMscfd of gas. The SPS and SURF scope will be delivered by OneSubsea®, the subsea technologies, production, and processing systems division of Schlumberger, and Subsea 7. “Schlumberger is uniquely positioned to integrate solutions from the subsurface to the processing facility, a

Pony.ai to Start Driverless Tests on Public Roads in Beijing15.10.2021 10:00:00 EEST | Press release

Silicon Valley-based leading autonomous driving company Pony.ai, today announced that it has been authorized to conduct driverless tests on public roads in China’s capital city, Beijing. The company is one of the two autonomous software companies to receive this important Beijing permit. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211015005137/en/ Driverless tests on public roads in Beijing (Photo: Business Wire) Prior to receiving this driverless test permit in Beijing, Pony.ai received a permit to conduct tests on certain sections of Beijing highways in July 2021. The company was among the first group to obtain this permit. In Beijing, Pony.ai is now authorized to conduct driverless testing in an area of around 20 square kilometers in a pilot zone for autonomous driving vehicles. The area covers major subway stations, residential areas, and tech parks, which allows Pony.ai to test its autonomous technology in the most c

Announcing the 2021 .eu Web Awards Winners!15.10.2021 10:00:00 EEST | Press release

Last night the 2021 .eu Web Awards ended in epic fashion at the Teatro Antico in Taormina, Italy. Hosted by EURid, the .eu Web Awards are a competition for the best .eu, .ею and .ευ websites. After last year’s virtual only event, we were pleased to once again celebrate the finalists and winners in person. View the hybrid event here. Hosted by Sally Bundock, esteemed journalist for BBC world news, the gala night brought us sincere joy reflected by the winners, combined with amazing performances by featured artists like THePETEBOX, Women Orchestra, MM Dance Company, Compagnia Joculares and the GAP’s Orchestra. The magical event ended with fireworks. “Being able to see real faces and raw emotion conveyed by the guests again made the night unforgettable” noted Giovanni Seppia, EURid’s External Relations Manager. “This is what the Web Awards is all about, bringing together people from various industries and backgrounds and honouring them for having chosen a .eu for their online presence.” P

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom