|In ¤m||2006 (1)||2005 restated (2||2005 published|
|Current operating profit||12.3||17.2||12.6|
|Profit before tax and extraordinary items||14.2||17.5||12.3|
|Net profit of discontinued operations||-10.7||-3.9||-0.2|
|Net profit, group share||2.7||7.0||7.0|
(1) Final 2006 turnover does not include BBR automation, disposed of in March 2007 and recognised under discontinued operations - (2) Restatement of discontinued operations in 2006 under IFRS 5
Comments concerning the 2006 financial year
- In accordance with the strategic plan that has been implemented since 2005 and aims to rebalance the group's business, withdrawal from the robotic integration business in the automotive industry had a significant impact on the 2006 accounts. The choice to abandon this operation enabled the group, as of 2007, to limit to 33% the automotive part of its business, which accounted for 70% of its turnover, at the beginning of 2005.
- The financial impact of the withdrawal - mainly the disposal of BEMA and its subsidiaries, as well as the disposal, in March 2007 of BBR automation (turnover of ¤4m, in 2005) - is wholly recognised in the 2006 accounts.
- Turnover of continued operations rose by 25%, 8.6% of which was from internal growth. The strong growth of our defence businesses, through our subsidiary ECA, largely accounted for this good performance. Growth of marine and semi-conductor businesses was satisfactory.
Outlook for 2007
The high level of order-taking in 2006 ensures good visibility in the majority of operations. The automotive sector shows no signs of deteriorating, compared with a difficult 2006 financial year. Excluding changes in scope of consolidation, turnover should again increase.
Underpinned by a more balanced base of operations, FINUCHEM wishes to continue its external growth policy and is currently researching opportunities.
Despite the cost of discontinuing operations, the board of directors will propose to maintain the same dividend as last year, at ¤0.5 per share, with the option of payment in shares. In the event that this is adopted at the shareholders annual meeting, PELICAN VENTURE, the holding company of the managing family and majority shareholder will choose to be paid in shares.
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 is ECA's majority shareholder.
FINUCHEM Group is listed in the C compartment of Eurolist by Euronext Paris.
Codes: ISIN FR0000062671 - Bloomberg FINU:FP
Finuchem Executive Vice President
Tel.: +33 (0)144 77 94 77
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