FINUCHEM : 1st half year 2007 results

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In ¤m 30/06/2007 30/06/2006*
Turnover 82.4 73.7
EBITDA 7.1 7.0
Current operating profit 4.6 9.0
Restructuring costs (1.4) -
Operating profit 3.2 11.0
Net profit of continuing activities 3.4 11.8
Net profit of discontinued activities (1.4) (13.3)
Net profit 1.9 (1.5)
Net profit, group share 0.6 (2.9)

* Restatement under IFRS 5 standard

Activity

As announced on 31 August 2007, the profitability of the first half year was strongly impacted by a much more difficult context than expected in the automotive sector. Restructuring, for which all the costs were accrued or entered as provisions in the first six months of the year, also penalised the profit ratio. The net profit of continuing activities was thus noticeably lower, penalised by the comparison with the first half of 2006 which benefited from non recurrent items of 3.2 M¤. The Current Operating Profit, which is not modified by these items, has been maintained at a comparable level to that for the first half of 2006.

The Automotive Products sector activity (Robot claws and grippers, 21 M¤ turnover in 2006), experienced a particularly difficult first half year, especially due to the slippage of several programmes. The group has started a selling process for this activity and has thus classified it in the discontinued activities. After major restructuring in the first half year, the order input and prospects for this activity have distinctly improved.

Outlook

The third quarter turnover could be lower compared to the year-ago quarter, reflecting various performances in our different markets: temporarily weak activity in the semi-conductor industry, flat in automotive and satisfactory for naval. Our ECA subsidiary, in the defence and aerospace sectors has confirmed a turnover objective greater than 80 M¤ from 2007.

Despite the prudence required by the disappointments of the first half year, the Management is reasonably confident in an improvement of its mid-term prospects, including for the last quarter of 2007.


About FINUCHEM Group

The FINUCHEM Group markets robotic and automated systems, integrating state-of-the-art technologies developed by its design office. Today, the firm is present in the aeronautics and automotive industries, the marine and defence sectors, and the semi-conductor industry.

FINUCHEM Group is listed in the C compartment of Eurolist by Euronext Paris.
Codes: ISIN FR0000062671 - Bloomberg FINU:FP

Contacts

Raphaël GORGÉ
Finuchem Executive Vice President
Tel.: +33 (0)144 77 94 77
E-mail: rg@finuchem.fr
Nathalie BOUMENDIL
Analyst-Investor / Press Relations
Tel.: + 33 (0)153 67 35 74
E-mail: nboumendil@actus.fr
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