Editorial by Philippe Brel

President of Executive Board

E-letter n ° 47

Dear All,

We couldn't wait to put 2020 behind us, it's done, however the stresses on our daily lives have not stopped. We will need to be extra vigilant in order to see the end of the tunnel and return to ‘’ normal ’’ life.

NSE has shown itself to be resilient in 2020 with a turnover of € 70.4 million, our diversification into the defense and medical fields and the opportunities we have seized have enabled us to resist well.

The year 2021 promises to be complicated, but the NSE teams strongly believe in the opportunities that are being created through our in-depth diversification work, but also through the structuring and continuous improvement work that we are implementing.

The new year started positively with the buyback of NSE Automatech shares from our long-time partner Desjardins Capital, allowing NSE to become the sole shareholder of our subsidiary NSE Automatech in Canada.

We will continue with a note of optimism internationally, and more specifically in India where our NSE India subsidiary took part in the Aero India show in early February. NSE India is developing position and training lights to meet the needs of our customers.

This agility has also enabled us to develop our night vision offer with the operator Mont Blanc Hélicoptères for the SAMU, of which you can read an article in this edition.

In Canada with NSE Technical Services & Logistics, the construction of a building of 18,500 M² in Saint Eustache moved forward, of which 12,500 M² will be devoted to supporting the development of our client Novabus.

During the last edition, I announced the launch of our new website, it is now active. In addition, we have also launched the new site of our e-commerce store Bayo ; the pilot's shop.

We would like to thank all of our customers, partners and suppliers who place their trust in us and allow us to continue the industrial development of NSE in our favorite sectors: Aeronautics, Defense, Medical, Rail and Electronics.

Have a good reading.

Take care of yourself and your loved ones, stay safe.

Philippe Brel

President of Executive Board