Revenue Performance - The group's revenue decreased from approximately €17.1 million for the six months ended June 30, 2021, to approximately €15.2 million for the six months ended June 30, 2022, representing a decline of about 10.8%[15]. - Total revenue for the six months ended June 30, 2022, was €15,226,994, a decrease from €17,070,663 for the same period in 2021, representing a decline of approximately 10.8%[102]. - Sales in the home phone segment for the six months ended June 30, 2022, were approximately €11.3 million, a decrease of about 7.7% compared to the same period in 2021[23]. - Sales in the elderly products category decreased by approximately €0.9 million or 27.8% for the six months ended June 30, 2022[24]. - Office phone product sales decreased by approximately €0.2 million or 11.1% for the six months ended June 30, 2022[29]. - Sales to France decreased by approximately 14.5% to about €8.1 million, accounting for 53.3% of total revenue for the six months ended June 30, 2022[38]. - Sales to other European countries fell by approximately 25.9% to about €3.3 million, representing 21.8% of total revenue[39]. - Sales to Latin America increased by 40.1% to approximately €2.2 million, representing 14.4% of total revenue[40]. Profitability and Loss - The group recorded a loss attributable to equity holders of approximately €0.6 million for the six months ended June 30, 2022, compared to a profit of approximately €0.5 million for the same period in 2021[15]. - The company recorded a loss of approximately €0.6 million for the six months ended June 30, 2022, compared to a profit of about €0.5 million in the same period of 2021[45]. - The net loss for the six months ended June 30, 2022, was €587,038, compared to a profit of €510,976 for the same period in 2021, indicating a significant decline in performance[79]. - The basic and diluted loss per share for the six months ended June 30, 2022, was €0.15, compared to earnings of €0.13 in the same period of 2021[79]. - The total comprehensive loss for the six months ended June 30, 2022, was €303,266, compared to a comprehensive income of €583,823 for the same period in 2021[81]. Cost and Margin Analysis - Gross profit margin decreased from approximately 31.7% in the first half of 2021 to about 26.7% in the first half of 2022 due to increased material costs and euro depreciation against the dollar[42]. - The gross profit for the six months ended June 30, 2022, was €4,060,998, down 25.0% from €5,412,901 in the previous year[79]. Cash Flow and Financial Position - As of June 30, 2022, the group's cash and cash equivalents were approximately €2.6 million, a decrease of about €2.4 million from €5.0 million on December 31, 2021[52]. - The net capital debt ratio increased to approximately 54% as of June 30, 2022, compared to 48% on December 31, 2021, primarily due to increased bank borrowings to support working capital[54]. - The total amount of bank financing secured by the group's properties, plant, and equipment was approximately €807,500 as of June 30, 2022, compared to zero on December 31, 2021[57]. - The total amount of trade receivables pledged as collateral was approximately €3.8 million as of June 30, 2022, down from €5.9 million on December 31, 2021[57]. - The company incurred a total comprehensive loss of €(587,038) for the period[89]. - Operating cash outflow increased to €(1,329,243) from €(894,954), indicating a worsening cash flow situation[94]. Inventory and Receivables - Inventory decreased from €6,731,543 to €5,548,287, a reduction of about 17.6%[84]. - Trade receivables decreased from €10,378,603 to €9,750,746, a decline of approximately 6.0%[84]. - Trade receivables as of June 30, 2022, amounted to €10,106,664, a slight decrease from €10,734,521 as of December 31, 2021, representing a decline of approximately 5.8%[135]. - The aging analysis of trade receivables shows that as of June 30, 2022, €3,840,472 was within 0 to 30 days, compared to €3,914,263 as of December 31, 2021, indicating a decrease of about 1.9%[136]. Corporate Governance and Compliance - The company has adopted the GEM Listing Rules regarding the trading standards for directors, ensuring compliance with regulations[69]. - The board believes that good corporate governance is a key element in managing the group's business and affairs, and has complied with the corporate governance code during the reporting period[74]. - The audit committee consists of three independent non-executive directors, ensuring oversight of financial reporting and compliance[75]. Dividends and Shareholder Returns - The board of directors did not recommend the payment of any dividends for the six months ended June 30, 2022[16]. - The company did not declare or pay any dividends for the six months ended June 30, 2022, compared to €175,401 in dividends declared in 2021[156]. Future Outlook and Strategy - The company plans to introduce redesigned products to capture market share in the home phone business, targeting a broader price range and expanding geographical reach[41]. - The company has a strong order backlog and is confident in its growth potential despite the challenging business environment[41].
ATLINKS(08043) - 2022 - 中期财报