(Boursier.com) – activity immersion In the first half of the fiscal year 2020/2021, it was affected by the second imprisonment at the end of the year 2020. While the company recorded a gradual resumption of activity to find activity levels more in line with those known during the previous fiscal year, the regrouping period did not allow the completion of many of the measures that had begun. However, during the period, 10 Shariiing 2.0 licenses were signed and two new R&D projects were launched.
This brought first-half sales to 3.36 million euros, down 7.7%. The development of gross margin, which decreased from 52.7% to 31.8%, reflects the lower level of contributing activities to sales of software solutions.
Thanks to efforts in cost management along with government mechanisms, operational balance has been ensured. Overall, Immersion scored a positive net result of +0.13 ME.
The cash flow of the company was mainly affected by the change in working capital after the resumption of activity. As part of the government aid related to the crisis, Immersion benefited from the Environmental Management Plan with an amount of 1.7 million pounds
Outlook – Perspectives
The current crisis underscores the importance of Shariiing’s strategic priority, a remote collaboration solution and support tool for digital transformation, even if the ongoing health crisis slows down some decision-making processes in large-scale virtual reality projects.
Immersion’s goal is to accelerate developments while maintaining the dynamism of innovation through research and development investments in particular, such as the two new projects signed.
© 2021, Boursier.com