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01.12.2023

Lectra insources cutting equipment production in China

Lectra will now directly manage the production of its cutting equipment manufactured in China, primarily dedicated to its Asian customers. The Suzhou site, located to the west of Shanghai, will thus benefit from the standards of operational excellence already implemented by Lectra at its two other plants in Bordeaux-Cestas, France, and Tolland, USA.

Lectra's teams have over 35 years’ experience in the Asia-Pacific region, which in 2022 generated 25% of the Group's revenues.

Since the acquisition of its competitor, Gerber Technology, in 2021, Lectra had been relying on a plant belonging to Dutch group VDL Groep (VDL), to manufacture Gerber-brand multi-ply cutters and spreaders.

For its industrial activities, Lectra aimed to adopt the same standards of operational excellence in China as those currently in effect at its Bordeaux-Cestas and Tolland sites. The Group therefore created a new subsidiary, Suzhou Lectra Equipment Manufacturing Co. Ltd., to take over from subcontractor VDL as of December 1, 2023.

Lectra will now directly manage the production of its cutting equipment manufactured in China, primarily dedicated to its Asian customers. The Suzhou site, located to the west of Shanghai, will thus benefit from the standards of operational excellence already implemented by Lectra at its two other plants in Bordeaux-Cestas, France, and Tolland, USA.

Lectra's teams have over 35 years’ experience in the Asia-Pacific region, which in 2022 generated 25% of the Group's revenues.

Since the acquisition of its competitor, Gerber Technology, in 2021, Lectra had been relying on a plant belonging to Dutch group VDL Groep (VDL), to manufacture Gerber-brand multi-ply cutters and spreaders.

For its industrial activities, Lectra aimed to adopt the same standards of operational excellence in China as those currently in effect at its Bordeaux-Cestas and Tolland sites. The Group therefore created a new subsidiary, Suzhou Lectra Equipment Manufacturing Co. Ltd., to take over from subcontractor VDL as of December 1, 2023.

Following the takeover of in-house production at the Tolland site in October 2022, the creation of the Suzhou Lectra Equipment Manufacturing Co. Ltd. subsidiary marks a new milestone in the deployment of Lectra's industrial excellence strategy on a global scale. The Group intends to give priority to regional industrial production, which is beneficial to the local economy.

More information:
Lectra, PLM China cutting system
Source:

Lectra

09.10.2023

Lectra joined the CAC Mid 60 and SBF 120 indices

Lectra, a leader in technology solutions for the fashion, automotive and furniture industries, will be listed in the CAC Mid 60 and SBF 120 indices of Euronext as of market close on September 15, 2023. This listing will enhance the visibility of the group with potential shareholders and customers in France and internationally.

Founded 50 years ago, the Lectra Group offers software, connected cutting equipment, data analysis solutions and associated services to players in the fashion, automotive and furniture industries to accelerate their digital transformation and transition to Industry 4.0. In 2017, the company initiated its Lectra 4.0 strategy, with the ambition of becoming an indispensable player in Industry 4.0 worldwide by 2030.

Lectra, a leader in technology solutions for the fashion, automotive and furniture industries, will be listed in the CAC Mid 60 and SBF 120 indices of Euronext as of market close on September 15, 2023. This listing will enhance the visibility of the group with potential shareholders and customers in France and internationally.

Founded 50 years ago, the Lectra Group offers software, connected cutting equipment, data analysis solutions and associated services to players in the fashion, automotive and furniture industries to accelerate their digital transformation and transition to Industry 4.0. In 2017, the company initiated its Lectra 4.0 strategy, with the ambition of becoming an indispensable player in Industry 4.0 worldwide by 2030.

For Daniel Harari, Chairman and Chief Executive Officer of Lectra: “Lectra's entry into the CAC Mid 60 and SBF 120 indices is an outstanding recognition of the successful actions we have taken over the past few years to ensure the profitable growth of our company and the success of our customers. We have changed dimension, notably with the acquisition of our historical competitor, Gerber Technology in June 2021. We have expanded our customer base, launched new cloud-based offerings which have enabled us to significantly increase the volume of SaaS software in our revenues, and offered new Customer Success Management services to support our customers. We have also made Corporate Social Responsibility (CSR) one of the pillars of our strategy.”

More information:
Lectra, PLM stocks
Source:

Lectra

28.06.2023

Lectra joins United Nations Global Compact and presents CSR policy

Lectra supports the transformation of fashion, automotive and furniture companies by providing them with technological solutions that accelerate their transition to a more efficient and more sustainable Industry 4.0. In February, as part of the launch of its new roadmap, Lectra confirmed the importance of CSR in its strategy and presented its new priority measures for 2023-2025. By joining the UN Global Compact, Lectra demonstrates its commitment to reaching the Sustainable Development Goals of the United Nations.

Over the last few years, Lectra has stepped up its CSR initiatives. In 2011, the company implemented a CSR purchasing charter that covered 98% of its industrial purchases in 2022, excluding Gerber Technology (which was acquired in June 2021). In 2023, the new version of our CSR purchasing charter will be extended to Gerber suppliers, with the objective of enrolling 90% of all our industrial suppliers by 2025. Lectra also favors local procurement and production, as demonstrated by the recent inauguration of its manufacturing facility in Tolland, United States.

Lectra supports the transformation of fashion, automotive and furniture companies by providing them with technological solutions that accelerate their transition to a more efficient and more sustainable Industry 4.0. In February, as part of the launch of its new roadmap, Lectra confirmed the importance of CSR in its strategy and presented its new priority measures for 2023-2025. By joining the UN Global Compact, Lectra demonstrates its commitment to reaching the Sustainable Development Goals of the United Nations.

Over the last few years, Lectra has stepped up its CSR initiatives. In 2011, the company implemented a CSR purchasing charter that covered 98% of its industrial purchases in 2022, excluding Gerber Technology (which was acquired in June 2021). In 2023, the new version of our CSR purchasing charter will be extended to Gerber suppliers, with the objective of enrolling 90% of all our industrial suppliers by 2025. Lectra also favors local procurement and production, as demonstrated by the recent inauguration of its manufacturing facility in Tolland, United States.

Another example: knowing that textiles generate 90% of the CO2 emissions produced during the total lifecycle of a cutting room, Lectra strives to offer its customers solutions that optimize the use of materials. Lectra's equipment makes it possible to achieve material saving of 5 to 10%. In addition, to better inform consumers about product authenticity and provenant, the company has also expanded its software offer to material traceability, as show by the recent majority acquisition of TextileGenesis’ capital. Lectra is committed to systematically using eco-design principles by 2025 for its new equipment platforms in order to reduce its environmental footprint.

For 2023-2025, Lectra has decided to focus on 5 key areas through 12 measures:

  1. MEETING THE HIGHEST ETHICAL STANDARDS
    - Uncompromising business ethics
    - Extension of our CSR purchasing policy
  2. DESIGNING ECO-RESPONSIBLE OFFERS
    - Developing eco-designed products and services
    - Supplying products and services that help reduce our customers’ impact on the environment
    - Developing safe, accessible and easy-to-use solutions
  3. FOSTERING AN INCLUSIVE, DIVERSE AND STIMULATING WORKING CULTURE
    - Zero tolerance for discrimination and harassment and equal opportunities for everyone
    - A working environment conducive to employee engagement
    - Balance between work and private life
    - Sustainable development of talents, team expertise and professional careers
    - Employees’ health and safety
  4. REDUCING THE ENVIRONMENTAL FOOTPRINT OF OUR ACTIVITIES
    - Reducing the environmental impact of our company's activities
  5. SUPPORTING FUTURE GENERATIONS
    - Supporting the development of professional skills and the employability of future generations
Source:

Lectra

10.02.2023

Lectra: Annual financial results of 2022

  • Revenues: 521.9 million euros (+35%)
  • EBITDA before non-recurring items: 98.4 million euros (+51%)
  • Net income: 43.8 million euros (+55%)
  • Free cash flow before non-recurring items: 43.7 million euros
  • Dividend*: €0.48 per share (+33%)

Lectra’s Board of Directors, chaired by Daniel Harari, reviewed the consolidated financial statements for the fiscal year 2022. Audit procedures have been performed by the Statutory Auditors. The certification report will be issued at the end of the Board of Director’s meeting of February 23, 2023.

To facilitate the analysis of the Group’s results, the financial statements are compared to those published in 2021 and to the 2021 pro forma financial statement (“2021 Pro forma”), prepared by integrating the three acquisitions made in 2021 – Gerber Technology (“Gerber”), Neteven, and Gemini CAD Systems (“Gemini”) – as if they had been consolidated from January 1, 2021, whereas they have been consolidated since June 1, July 28 and September 27, 2021 respectively.

  • Revenues: 521.9 million euros (+35%)
  • EBITDA before non-recurring items: 98.4 million euros (+51%)
  • Net income: 43.8 million euros (+55%)
  • Free cash flow before non-recurring items: 43.7 million euros
  • Dividend*: €0.48 per share (+33%)

Lectra’s Board of Directors, chaired by Daniel Harari, reviewed the consolidated financial statements for the fiscal year 2022. Audit procedures have been performed by the Statutory Auditors. The certification report will be issued at the end of the Board of Director’s meeting of February 23, 2023.

To facilitate the analysis of the Group’s results, the financial statements are compared to those published in 2021 and to the 2021 pro forma financial statement (“2021 Pro forma”), prepared by integrating the three acquisitions made in 2021 – Gerber Technology (“Gerber”), Neteven, and Gemini CAD Systems (“Gemini”) – as if they had been consolidated from January 1, 2021, whereas they have been consolidated since June 1, July 28 and September 27, 2021 respectively.

See attached document for full report.

Source:

Lectra

04.11.2022

Lectra published financial report for the first nine months of 2022

  • Revenues: 392.1 million euros (+50%)
  • EBITDA before non-recurring items: 74.9 million euros (+73%)
  • Net income: 35.4 million euros (multiplied by 2.1)
  • Free cash flow before non-recurring items: 31.6 million euros

Lectra’s Board of Directors, chaired by Daniel Harari, reviewed the consolidated financial statements for the third quarter and first nine months of 2022, which have not been reviewed by the Statutory Auditors.
To facilitate the analysis of the Group’s results, the financial statements are compared to those published in 2021 and to the 2021 pro forma financial statement ("2021 Pro forma"), prepared by integrating the three acquisitions made in 2021 – Gerber Technology (“Gerber”), Neteven, and Gemini CAD Systems (“Gemini”) – as if they had been consolidated from January 1, 2021, whereas they have been consolidated since June 1, July 28 and September 27, 2021 respectively.

See attached document for full report.

  • Revenues: 392.1 million euros (+50%)
  • EBITDA before non-recurring items: 74.9 million euros (+73%)
  • Net income: 35.4 million euros (multiplied by 2.1)
  • Free cash flow before non-recurring items: 31.6 million euros

Lectra’s Board of Directors, chaired by Daniel Harari, reviewed the consolidated financial statements for the third quarter and first nine months of 2022, which have not been reviewed by the Statutory Auditors.
To facilitate the analysis of the Group’s results, the financial statements are compared to those published in 2021 and to the 2021 pro forma financial statement ("2021 Pro forma"), prepared by integrating the three acquisitions made in 2021 – Gerber Technology (“Gerber”), Neteven, and Gemini CAD Systems (“Gemini”) – as if they had been consolidated from January 1, 2021, whereas they have been consolidated since June 1, July 28 and September 27, 2021 respectively.

See attached document for full report.

Source:

Lectra

28.07.2022

Lectra: Financial statements for the first half of 2022

  • Revenues: 250.8 million euros (+71%)
  • EBITDA before non-recurring items: 45.2 million euros (+95%)
  • Net income: 20.2 million euros (multiplied by 2.3)
  • Free cash flow before non-recurring items: 14.7 million euros

Lectra’s Board of Directors, chaired by Daniel Harari, reviewed the consolidated financial statements for the first half of 2022, which have been subject to a limited review by the Statutory Auditors.

To facilitate analysis of the Group’s results, the financial statements are compared to those published in 2021 and to the 2021 pro forma financial statement ("2021 Pro forma"), prepared by integrating the three acquisitions made in 2021 – Gerber Technology (“Gerber”), Neteven, and Gemini CAD Systems (“Gemini”) – as if they had been consolidated from January 1, 2021, whereas they have been consolidated since June 1, July 28 and September 27, 2021 respectively.

See attached document for full report.

  • Revenues: 250.8 million euros (+71%)
  • EBITDA before non-recurring items: 45.2 million euros (+95%)
  • Net income: 20.2 million euros (multiplied by 2.3)
  • Free cash flow before non-recurring items: 14.7 million euros

Lectra’s Board of Directors, chaired by Daniel Harari, reviewed the consolidated financial statements for the first half of 2022, which have been subject to a limited review by the Statutory Auditors.

To facilitate analysis of the Group’s results, the financial statements are compared to those published in 2021 and to the 2021 pro forma financial statement ("2021 Pro forma"), prepared by integrating the three acquisitions made in 2021 – Gerber Technology (“Gerber”), Neteven, and Gemini CAD Systems (“Gemini”) – as if they had been consolidated from January 1, 2021, whereas they have been consolidated since June 1, July 28 and September 27, 2021 respectively.

See attached document for full report.

28.04.2022

Lectra published its financial report for Q1 2022

  • Revenues: 122.0 million euros (+83%)
  • EBITDA before non-recurring items: 21.6 million euros (+90%)
  • Net income: 9.3 million euros (+55%)
  • Free cash flow before non-recurring items: 7.1 million euros

Lectra’s Board of Directors, chaired by Daniel Harari, reviewed the unaudited consolidated financial statements for the first quarter of 2022.
To facilitate analysis of the Group’s results, the financial statements are compared to those published in 2021 and to the Q1 2021 pro forma figures ("2021 Pro forma"), prepared by integrating the three acquisitions made in 2021 – Gerber Technology (“Gerber”), Neteven, and Gemini CAD Systems (“Gemini”) – as if they had been consolidated from January 1, 2021, whereas they have been consolidated since June 1, July 28 and September 27, 2021 respectively.

See the attached document for more details about the financial statements.

  • Revenues: 122.0 million euros (+83%)
  • EBITDA before non-recurring items: 21.6 million euros (+90%)
  • Net income: 9.3 million euros (+55%)
  • Free cash flow before non-recurring items: 7.1 million euros

Lectra’s Board of Directors, chaired by Daniel Harari, reviewed the unaudited consolidated financial statements for the first quarter of 2022.
To facilitate analysis of the Group’s results, the financial statements are compared to those published in 2021 and to the Q1 2021 pro forma figures ("2021 Pro forma"), prepared by integrating the three acquisitions made in 2021 – Gerber Technology (“Gerber”), Neteven, and Gemini CAD Systems (“Gemini”) – as if they had been consolidated from January 1, 2021, whereas they have been consolidated since June 1, July 28 and September 27, 2021 respectively.

See the attached document for more details about the financial statements.

01.06.2021

Lectra completes the acquisition of Gerber Technology

Lectra finalizes June 1st, the acquisition of all outstanding shares of Gerber Technology, on a cash-free debt-free basis, for 175 million euros – financed through a 140 million euro loan and the Group's available cash – plus 5 million newly issued Lectra shares to AIPCF VI LG, Gerber Technology’s sole shareholder.

This strategic combination, of which all stages have now been successfully completed, has led to the creation of a leading global Industry 4.0 player for the fashion, automotive and furniture markets.

“The union of our respective innovative expertise, our state-of-the-art offers and our talented resources will enable us to bring long-term value to our customers. We will now be in an even better position to support our customers throughout the world in accelerating the digital transformation of their operations,” says Daniel Harari, Chairman and CEO of Lectra.

This acquisition, which was announced on February 8, was approved by Lectra’s Board of Directors on March 25 and by Lectra’s shareholders June, 1.

Lectra finalizes June 1st, the acquisition of all outstanding shares of Gerber Technology, on a cash-free debt-free basis, for 175 million euros – financed through a 140 million euro loan and the Group's available cash – plus 5 million newly issued Lectra shares to AIPCF VI LG, Gerber Technology’s sole shareholder.

This strategic combination, of which all stages have now been successfully completed, has led to the creation of a leading global Industry 4.0 player for the fashion, automotive and furniture markets.

“The union of our respective innovative expertise, our state-of-the-art offers and our talented resources will enable us to bring long-term value to our customers. We will now be in an even better position to support our customers throughout the world in accelerating the digital transformation of their operations,” says Daniel Harari, Chairman and CEO of Lectra.

This acquisition, which was announced on February 8, was approved by Lectra’s Board of Directors on March 25 and by Lectra’s shareholders June, 1.

More information:
Gerber Technology Lectra/Gerber
Source:

Lectra

08.02.2021

MoU: Lectra to acquire Gerber Technology

Lectra announces its plan to acquire the entire capital and voting rights of US-based Gerber Technology. A key Industry 4.0 player in the fashion, automotive and furniture industries, Lectra designs smart industrial solutions – software, equipment, data and services – that help brands, manufacturers and retailers develop, produce and market their products.

The acquisition, if and when consummated, would allow Lectra to complement its market position and continue to enhance its offerings based on Industry 4.0 technology that will enable its customers to boost the productivity and profitability of their operations. After the French work council of Lectra is consulted and the binding documentation is signed, completion of the acquisition shall remain subject to merger control clearance and other customary conditions and shall be submitted to Lectra shareholders for approval.

Lectra announces its plan to acquire the entire capital and voting rights of US-based Gerber Technology. A key Industry 4.0 player in the fashion, automotive and furniture industries, Lectra designs smart industrial solutions – software, equipment, data and services – that help brands, manufacturers and retailers develop, produce and market their products.

The acquisition, if and when consummated, would allow Lectra to complement its market position and continue to enhance its offerings based on Industry 4.0 technology that will enable its customers to boost the productivity and profitability of their operations. After the French work council of Lectra is consulted and the binding documentation is signed, completion of the acquisition shall remain subject to merger control clearance and other customary conditions and shall be submitted to Lectra shareholders for approval.

The proposed combination would occur at an opportune time for both companies and their customers. The current uncertain economic climate and unprecedented challenges that fashion, automotive and furniture companies are facing due to the COVID-19 pandemic make it more important than ever for them to transform, digitalize and optimize their operations.

For over 50 years, Gerber Technology has used its proprietary technologies and deep domain expertise to provide integrated software and automated hardware solutions to companies around the world, including over 100 Fortune 500 companies in 134 countries.

The strategic combination of Gerber Technology and Lectra will create a premier advanced technology partner, able to quickly meet changing customer needs and deliver even more value through seamlessly integrated solutions. Together, the two companies will have a large installed base of product development software and automated cutting solutions in operation, with a worldwide presence and a long list of prestigious customers.

Consolidating the two companies’ research and development capabilities will enable the combined company to accelerate development of Industry 4.0 technologies and help its expanded customer base seize the full potential of these innovations.
Integrating the technology of the two companies will endow them with the resources to anticipate and address rapidly changing market conditions.

Key transaction terms

Under the proposed acquisition, Lectra would acquire all outstanding shares of Gerber Technology on a cash-free debt-free basis for an upfront payment of 175 million euros – through a combination of cash and debt – plus 5 million newly issued Lectra shares to AIPCF VI LG Funding, LP (“AIPCF VI LG”), an affiliate of American Industrial Partners that is Gerber Technology’s sole shareholder. This would represent a total amount of about 300 million euros based on Lectra’s closing share price on February 5, 2021. No contingent consideration is contemplated.

Gerber Technology’s revenues was 165 million euros in 2020.

Thanks to the strong value creation deriving from significant synergies, Lectra expects the transaction to be accretive for shareholders from 2022.

Upon closing, Daniel Harari would own c. 14.6% of the Lectra shares and AIPCF VI LG would own c. 13.3%.

Lectra’s Board of Directors would welcome a director representing AIPCF VI LG.

Daniel Harari would continue to be the Chairman and Chief Executive Officer of Lectra. Gerber Technology Chief Executive Officer, Mohit Uberoi, would assume special advisor to Daniel Harari role until end-2021.

Lectra’s shareholders would be invited to vote on the issuance of the 5 million new Lectra shares reserved to AIPCF VI LG at a dedicated Extraordinary Shareholders’ Meeting which is currently expected to be held on April 30, 2021. A report containing additional information will be made available to the shareholders prior to the Extraordinary Shareholders’ Meeting.

Lazard is acting as exclusive financial advisor to Lectra, and Latham & Watkins as legal counsel to Lectra.

Goldman Sachs is acting as exclusive financial advisor to AIPCF VI LG, and Ropes & Gray LLP, Baker Botts LLP and Gide Loyrette Nouel A.A.R.P.I. as legal counsel to AIPCF VI LG.

2020 results, update on the 2020-2022 strategic roadmap and guidance for the coming years will be disclosed on February 10, 2021.

Lectra management will discuss the transaction, provide forward-looking guidance for the combined company upon closing of the transaction and answer questions from the financial community during the February 11, 2021 webcast Analyst Conference meeting in French starting at 8:30 am (CET - Paris).

 

Source:

Lectra - Headquarters

Logos of the participating companies
Gerber PPE Task Force
08.04.2020

A&E and Burlington participate in the Gerber PPE Task Force

Elevate Textiles, a global provider of advanced, high quality products and mission critical textile solutions is pleased to participate in the recently launched Gerber PPE Task Force. This industry-wide effort combines resources and expertise to support manufacturing operations and brands as they increase their production or transition their operations to produce personal protective equipment in the fight against COVID-19.
Elevate’s Burlington, American & Efird (A&E), and Gütermann brands provide critical barrier fabric and thread components used in the manufacturing of lifesaving PPE products including masks, isolation gowns and other medical garments.

"The only way to be successful during this difficult situation is to join forces and support one another," said Lenny Marano, VP of Product Management & Marketing for Automation Systems at Gerber Technology. "We are proud to have a global network of partners to support PPE production so that it's more widely available."

Elevate Textiles, a global provider of advanced, high quality products and mission critical textile solutions is pleased to participate in the recently launched Gerber PPE Task Force. This industry-wide effort combines resources and expertise to support manufacturing operations and brands as they increase their production or transition their operations to produce personal protective equipment in the fight against COVID-19.
Elevate’s Burlington, American & Efird (A&E), and Gütermann brands provide critical barrier fabric and thread components used in the manufacturing of lifesaving PPE products including masks, isolation gowns and other medical garments.

"The only way to be successful during this difficult situation is to join forces and support one another," said Lenny Marano, VP of Product Management & Marketing for Automation Systems at Gerber Technology. "We are proud to have a global network of partners to support PPE production so that it's more widely available."

For over 40 years, Burlington has been in the Medical business manufacturing fabrics for use in operating theaters such as surgeon’s gowns, isolation gowns, sterilization wrapper packs, drapes, scrubs and lab coats. The Maxima® collection of fabrics is useful for reusable isolation and surgical gowns and meets AAMI standards for Levels 1-4 and FDA standards.

Source:

American & Efird