Odyssey Technologies Signs Agreement to Acquire 100% of Smes (€5.4M Revenue)
Odyssey Technologies has signed an agreement to acquire 100% of Smes, a precision parts manufacturer for the aerospace industry. This move is part of the French group's mixed growth strategy, combining internal development and acquisitions.
A Strategic Acquisition in the Transformation of High-End Aircraft
Located in Wittelsheim (Haut-Rhin), Smes specializes in precision mechanics primarily for the aerospace industry, with particular expertise in machining complex parts for the transformation of aircraft for an international high-end clientele, while also holding positions in other sectors. The company, certified EN9100, has about forty employees and relies on short production cycles with limited use of subcontracting. For the fiscal year ended June 30, 2025, Smes recorded a revenue of €5.4M and a profit of €0.6M. Its equity amounts to €2.7M with a total balance sheet of €3.5M. The 2026 fiscal year, ending next June 30, is expected to see a strong acceleration in revenue and profit growth.
An Attractive Financial Model for the Group
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Smes stands out with an operational model that generates a low working capital requirement, a stark contrast to other subsidiaries of Odyssey Technologies. This financial profile will help strengthen the consolidated position of the acquiring group. The acquisition will be financed through the cash reserves of Odyssey Technologies and through bank loans. The group will thus be able to integrate Smes into its client portfolio and consolidate its presence in the aerospace sector by accessing new high-value market segments.
Diversification Towards Premium Markets
Odyssey Technologies currently operates with 175 employees spread across three production units in France and achieved a consolidated revenue of €20.8M in 2025. The acquisition of Smes complements this portfolio by diversifying into recognized technical expertise in the markets of aerospace, defense, space, and energy. This external growth operation is a continuation of the diversification strategy presented during the group's initial public offering.
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SectorMachines et équipements industriels›Équipements électroniques
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Context
Period
Period: S1 2026
Key reported figures
Revenue: 10,5 millions d'euros
Quarterly revenue: 10,5 millions d'euros
Revenue growth: -0,1 %
EBITDA: 1 millions d'euros
EBITDA margin: 9,5 %
Net income: 0,4 millions d'euros
0,3 millions d'euros
Guidance from the release
Avec une prise de commandes en hausse de plus de 22% et une structure financière solide, nous abordons les prochaines années avec confiance. Odyssée Technologies anticipe une reprise de sa croissance portée par un niveau élevé de la prise de commandes ; les revalorisations tarifaires négociées avec les clients produiront pleinement leurs effets à partir du 2nd semestre 2026.
Risks mentioned
Difficultés persistantes à recruter des techniciens d'usinage qualifiés ralentissant la production
Environnement économique marqué par de fortes incertitudes géopolitiques
Chiffre d'affaires semestriel stable, sans croissance organique
Opportunities identified
Consolidation de SMES à partir de juillet 2026 apportant un supplément de croissance
Diversification du portefeuille clients grâce à l'acquisition de SMES
Création d'un nouveau pôle dédié au luxe (usinage de pièces pour jets)
Outlook / guidance
Expected revenue: 24,8 millions d'euros
Management commentary: Nous conservons ainsi notre attente d'un CA 2026 de 24,82 M€ (+19,2%) soit un S2 de 14,34 M€, +38,7% avec une croissance de 4,8% sur les activités historiques et un apport de 3,5 M€ pour SMES. Nous tablons ainsi sur un Rex 2026e de 2,61 M€ soit une marge opérationnelle de 10,5%
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
