Q2 saw a pickup in business in June confirming the shift already observed in May
The second half of the year is expected to be more in line with Group fundamentals
In M¤ - non audited
First half-year revenue
Half-year business activities
As anticipated, business activities in the first half were characterized by:A tough business environment, especially in the automotive sector which had to grapple with great difficulties in the early part of the year; A focus on projects with highest return during AKKA I&S's (ex-Coframi) integration in 2008, resulting in an adverse base effect; No acquisition was made in 2008 in order to speed up AKKA I&S (ex-Coframi) recovery; hence, there were no perimeter effects in 2009.
Save for the discontinued automotive projects and base effect, business grew by 1,2 % on a like-for- like basis, which demonstrates that the balanced strategy pursued with respect to AKKA's business segments is panning out.
Cost Control Program Continues
Measures taken to maintain the financial ratios and expertise of the Group included:Staff training, mobility and redeployment as well as the introduction of part-time work in automotive; Implementing a savings plan that has already resulted in a lowering of structural costs of more than 5 points; Strengthening our balance sheet; Significantly increasing Group penetration into more high-growth sectors; Improving cash management by some 70 M¤.
Trend more upbeat in the second half
AKKA Technologies is still poised to conquer and grow market share
The Group thinks that the low ebb has been reached in the first half of the year. The second half should see more normal operating conditions with a lesser base effect and dynamic business opportunities in energy, rail, and telecommunications. The aeronautics sector should afford greater visibility while the situation in the automotive sector should stabilize.
Beginning in January 2009, AKKA Technologies embarked again on a policy of acquisitions.
As a first stage in the expansion of the German market, AKKA Technologies on 1 April integrated the German Company Octogon which has a staff of 48 people and in 2008 had revenue of 6.2 M¤ and an operating income of 8%. The Group has added 100 staff members working in both Munich and Hamburg.
In addition to Germany, AKKA is investigating several acquisition targets in France, to bolster group expertise.
Next release: First half-year 2009 results on 10 September 2009 after the end of the trading day
About AKKA Technologies
AKKA Technologies, a high-technology and engineering Consultancy is providing guidance to industrial companies across the various stages of their projects, from R&D and design to industrialisation.
AKKA Technologies through its expertise in complementary fields delivers real added value to industrial companies in every market segment: automotive, aeronautics, space/defence, consumer electronics, telecommunications, chemicals, pharmaceuticals, steelmaking, energy, rail, naval operations and services.
Thanks to its highly mobile teams and its global footprint, AKKA Technologies is capable of participating in cutting-edge projects across the world.
The Group had over 40 subsidiaries in France, Belgium, Italy, UK, Germany, Switzerland, Morocco, India and Romania
At 30 June 2009, it had 5,020 staff
AKKA Technologies is listed on EuronextTM Paris Eurolist - Compartment C - ISIN Code: FR0004180537.Contacts:
Nicolas Valtille / CFO - Tel: 04 78 92 60 83 - email@example.com
Amalia Naveira - Analyst and Investor Relationships- Tel: 04 72 18 04 92 - firstname.lastname@example.org
Marie-Claude Triquet - Press Relations Officer - Tel: 04 72 18 04 93 - email@example.com
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