AKKA TECHNOLOGIES : Consolidated revenue 2012 up by 74.5%

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  • Proforma revenue: ¤925 million

Strengthened financial balances

  • Deleveraging target is achieved

2012 has been a year for turning the corner for AKKA Technologies. Between 2010 and 2012 the Group has doubled its size reaching proforma revenue of ¤925 million. It has bolstered its presence in Germany, where it now generates 39% of its annual revenue.

The major challenge of the year was to consolidate and stabilise this new configuration. AKKA has put the priority on fundamentals so as to:

  • Build an organisation capable of responding to a ¤1 billion group needs;
  • Create the basis for sustainable and profitable growth at MBtech by implementing a Performance Optimisation Plan and overhauling the sales organisation;
  • Strengthen governance and give operational autonomy to the CEO/CFO team of each of the three business units, while adhering to the Group's family values.

Thanks to substantive work accomplished this year, AKKA Technologies is confident about its prospects for 2013.

Consolidated revenue (January 1st - December 31st)

In ¤ m (unaudited) 2012 2011 Growth
Revenue 827.2 474.1 +74.5%
France 451.6 401.4 +12.5%
Germany 271.4 18.5 n.s.
Rest of World 104.2 54.2 +92.1%

Full-year 2012 consolidated revenue includes MBtech from April 1st, 2012.

1. Consolidated revenue 2012 of ¤827.2 million

In Q4 2012, consolidated revenue totalled ¤234.8 million vs. ¤145.1 million in Q4 2011. The organic growth for the period amounts to 1.2%.

In the financial year 2012, consolidated revenue totalled ¤827.2 million, up by 74.5% compared to 2011. This growth results from strategic positions established in Germany, stability in France and further significant growth in the Rest of the World. Proforma revenue 2012 totalled ¤925 million. France represents 49%, Germany 39% and the Rest of the World 12%.

  • France remains central in the Group's operations and has significant growth potential. Revenue rose by 12.5% on a consolidated basis and was virtually stable at constant scope, despite a tight economy and management's focus on Germany. Aeronautics was up by 18% and railway by 19%, healthy constant-scope increases. The arrival of the French CEO/CFO team in September 2012 will further strengthen the operational dynamic.
  • In Germany, AKKA has built a foundation for strong and profitable growth.  In only 9 months, MBtech has considerably improved its profitability. Significant work has been accomplished with local teams and these efforts will be stepped up with the arrival of the new CEO so as to:
    • Capitalise on MBtech's unique and specialised expertise in order to diversify into the other car manufacturers and the aeronautics sector.
    • Structure the organisation and the sales & marketing actions to reach a standard profitability level.

    AKKA Germany, one of the Group's historical subsidiaries, continues to post sustained growth. Its business grew by 30%, with a significant 22% advance in the aeronautics sector.
  • Growth remains robust in the Rest of the World, with revenue nearly doubling on a consolidated basis (up by 92%) and rising by 16% at constant scope. Revenue in Belgium was up by 14% at constant scope, in Italy by 24% and in Romania by 10%. With more than 1,800 employees, the Rest of the World is a growth enabler for the Group and opens up significant and secure business opportunities on rapidly-expanding markets.

2. Improvement of profitability and achieved deleveraging target

As announced, the Group's consolidated operating margin in 2012 will exceed 7%, with a significant improvement in MBtech's profitability.

The Group's deleveraging is ongoing with the improvement of its working capital requirement. As a result, gearing declined to approximately 30% as of December 31st, 2012, vs. 53% as of June 30th, 2012.

3. 2013, the foundations for profitable growth are laid

The substantive work accomplished in 2012, the 5-years revenue guarantee by Daimler, the solid French basis, and the excellent dynamic in the Rest of the World give AKKA enough time and confidence to pursue the construction of a ¤1 billion group and to achieve as early as 2013 a:

  • Return to growth in France
  • Finalisation of the sales & marketing reconfiguration of MBtech
  • Acceleration of growth in the AKKA stand alone subsidiaries
  • Improvement of the Group's profitability
  • Continuation of the Group's deleveraging

In two years AKKA Technologies has become a key player in transport mobility and has established itself as one of the largest European market participants.
Leader in France and in Germany - Leader in the automotive and aeronautics sectors, AKKA Technologies now has a unique specialist positioning.
Nearly 11,000 engineers in 20 countries leverage their solid expertise, provide sustainable project solutions and aim to serve our customers.

Next press release:  full-year 2012 profit, April 2nd, 2013 aftermarket close

"The best way to predict the future is to invent it.
Let's share our passion for technology.

AKKA Technologies is a European Engineering and Technology Consulting Group that supports large manufacturing and tertiary services companies, seeing their projects through from the initial studies and R&D to large-scale production. AKKA Technologies is an expert in various complementary business lines and brings real added value to customers in sectors including aeronautics, automotive, space/defence, consumer electronics, telecommunications, chemicals, pharmaceuticals, steel, energy, rail, marine and service industries.
AKKA Technologies is the leader in the automotive and aeronautics sectors in Germany and France, and thanks to the mobility of its staff and its international positioning, it collaborates on state-of-the-art technology projects around the world.
AKKA Technologies has nearly 11,000 employees and is present in 20 countries: Belgium, Canada, China, Czech Republic, France, Germany, Hungary, India, Italy, Morocco, Netherlands, Romania, Russia, Spain, Switzerland, Tunisia, Turkey, United Arab Emirates, United Kingdom and United States. AKKA's focus is on building a Group with revenue of ¤1 billion, with more than 50% deriving from outside France.
AKKA Technologies is listed on EuronextTM Paris - Segment B, ISIN code: FR0004180537.
Indices CAC® Small, CAC® Mid & Small, CAC® All-Tradable, CAC® All-Share
For more information, please visit us at www.akka.eu

Contacts:
AKKA Technologies
Nicolas Valtille - Group CEO - Tel.: +33 (0)4 78 92 60 83 - finances@akka.eu
Delphine Méric - Investor Relations - Tel.: +33 (0)6 81 20 97 14 - d.meric@akka.eu

Actus Lyon
Amalia Naveira - analyst/investor relations - Tel.: +33 (0)4 72 18 04 97 - anaveira@actus.fr
Marie-Claude Triquet - Press Relations - Tel.: +33 (0)4 72 18 04 93 - mctriquet@actus.fr

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