Consolidated Revenue (1st January - 31 December)
|In M¤||2007||2006||Growth rate|
|Q 4 Revenue||83.9||49.0||+ 71%|
|Annual revenue||235.0||160.1||+ 47%|
Accelerated Growth is confirmed
2007 revenue increased substantially by 47% to 235 M¤, with sustained growth reaching 83.9 M¤ in Q4 (including COFRAMI which is consolidated for the last 2 months of 2007).
Revenue, excluding COFRAMI is 213.8 M¤ with organic growth peaking at 10%.
In fiscal 2007, AKKA Technologies's pace of growth accelerated:
- COFRAMI's annual revenue is about 139 M¤,
- Revenue from our international business doubled to 29.3 M¤.
In 2007, the Group passed another milestone in terms of headcount with 5,100 staff members at 31 December 2007. In addition to personnel taken over as a result of the integration of COFRAMI, AKKA Technologies recruited over 1,000 people.
Confirmed annual income objectives
As announced, income from operations should reach 7.8% on a like for like basis. By consolidating COFRAMI for 2 months, income from operations should exceed 6.5%.
First effects of COFRAMI turnaround plan
Coframi turnaround plan has been implemented and the company integration is proceeding according to plan:
- AKKA's information systems have been introduced throughout all COFRAMI.offices
- The company financial structure has been strengthened by the disposal of a slice of the real estate assets owned by COFRAMI, thus improving its cash flow position.
- Business has been reenergized, backed by strong buy-in from top management and company teams. The new contracts signed are on the basis of the profitability criteria used by AKKA Technologies. Synergies between regional teams are delivering results and are accelerating. COFRAMI recently scored a new commercial success with the award of a contract for the development of IOPs (Input Output Processors, calculators dedicated to aviation) for an industrial company specializing in electronics and systems.
The Group management is confirming that the business revival plan chosen is the right one for the company and will result in COFRAMI quickly reaching breakeven point in 2008.
Business for the Group's clients remains brisk. The number of avionics programs launched simultaneously has never been so large, the outlook for rail is bright and sales to the automotive segment are increasing. The energy segment, more particularly, nuclear, provides new scope for economic expansion in view of the current energy situation.
AKKA Technologies intends to take full advantage of these favourable developments and will enjoy growth dynamics similar to 2007.
After developing the avionics segment and beefing up its IT & Systems expertise, AKKA Technologies aims to strengthen its worldwide presence. The Group wants to generate one third of revenues outside France in the midterm.
Next press release: 2007 Earnings, 1 April 2008 after the stock market closes.
Next meeting: 2 April 2007 at 5:30 pm at the Palais de la Bourse - 75002 Paris
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 assembly-line production.
With an established presence in Western Europe (France, Belgium, Germany, Italy, UK and Switzerland), AKKA Technologies through its expertise in complementary fields delivers real added value to industrial companies in every market segment: automotive, aeronautics, space/defense, consumer electronics, telecommunications, chemicals, pharmaceuticals, steelmaking energy, rail and is recognized as such by key clients in each of these segments.
Thanks to its highly mobile teams and its global footprint, AKKA Technologies is capable of participating in cutting-edge projects across the world.
AKKA Technologies is listed on EuronextTM Paris Eurolist - Compartment C - ISIN Code: FR0004180537.
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