Message from the President


In 2016 our revenue growth, combined with the work of our teams, contributed to improved results. On that basis, our net operating results improved by 60% and our EBITDA was positive. We will continue these efforts in 2017

A book-to-bill ratio above 1 at the end of 2016 and the increase in our backlog of orders, will allow us to anticipate further improvements in 2017. Our recent ceramic production line in Cambridge (Maryland, USA) has met with success and we foresee contracts amounting to US$500,000 this year. In addition, the qualification of our 40 and 100 Gb/s TOSA/ROSA packages for optoelectronic applications will also support growth in revenue. These developments, combined with the acquisition of Santier, will contribute to continuing improvements in Group results.

The capital increase launched at the beginning of 2017 was a success, with an oversubscription of 117%. We wish to express our considerable gratitude to the shareholders for their show of confidence during this operation.

Euros 8.2 million were raised and these proceeds have allowed us to carry out the full acquisition of the operating assets and liabilities of the US company Thermal Management Solutions LLC (dba Santier), based in San Diego, California. Santier's business will provide a perfect fit with that of Egide and will contribute to diversify our customer portfolio and to grow in our chosen markets.

These developments, combined with a solid presence in the United States and in Europe, will contribute to continuing improvements in Group results.

I thank you for your trust and your faith in the Company.

James F. Collins
Chairman and Chief Executive Officer