GROUPE GORGE : Revenue for the 3rd quarter: new growth in line with previous quarters

In ¤m 2014(1) 2013 Var. (%)
Smart Safety Systems 59.5 63.0 -5.5%
Q1 17.3 17.8 -3.1%
Q2 22.1 24.8 -11.2%
Q3 20.1 20.3 -0.7%
Industrial Projects & Services 58.3 57.0 +2.2%
Q1 17.6 18.2 -3.3%
Q2 19.9 18.9 +5.6%
Q3 20.8 20.0 +4.0%
Protection in Nuclear Environments 32.5 28.8 +12.8%
Q1 11.4 9.0 +26.6%
Q2 12.1 9.9 +21.9%
Q3 9.0 9.9 -9.0%
3D printing 2.5 0.1 NS
Q1 0.2 - NS
Q2 1.0 0.0 NS
Q3 1.4 0.1 NS
Intra-group sales (0.1) (0.3) NS
Q1 (0.2) (0.1) NS
Q2 0.1 0.0 NS
Q3 (0.0) (0.3) NS
Consolidated revenue 152.7 148.5 +2.8%
Q1 46.2 45.0 +2.8%
Q2 55.2 53.6 +2.8%
Q3 51.3 50.0 +2.6%

(1) Revenue for the 1st half-year was subject to a limited review by the statutory auditors; revenue for the 3rd quarter has not been audited.

3D printing saw strong growth in the 3rd quarter
The group continued to grow in the 3rd quarter with revenue of ¤51.3 million, up 2.6% compared with the same period in 2013.

Although still moderate, revenue for the 3D Printing division rose sharply to ¤1.4 million in the 3rd quarter, compared with ¤1.2 million in the first half-year. For the first time, this division made a strong contribution to the group's revenue in the 3rd quarter, at 3%.

The dynamism of the Industrial Projects and Services (PSI) division and the rise of 3D Printing fully offset the anticipated slowdown of the Protection in Nuclear Environments (PMN) division.

Growth of 3% over 9 months
Over 9 months, consolidated revenue grew by nearly 3%. This performance is particularly strong in the PMN and 3D Printing divisions. It offsets the decline (-5.5% over 9 months) in the Smart Safety Systems (ECA) division, which was adversely affected in particular by tensions with Russia. This division has devoted significant resources to several major projects, some of which could quickly materialise or come into force. The target of moderate growth in this division's business throughout the year is still achievable, but depends in part on the normalisation of relations with Russia and the fast acquisition of orders under negotiation, which could be carried out immediately.

Outlook: a positive 4th quarter is expected
The revenue for the 4th quarter will be the highest of the year, with all businesses enjoying good prospects. The PMN division, after achieving considerable success in recent months, is working on major calls for tender (China, Russia, UK, etc.). The PSI division and in particular the fire protection business should achieve a very positive 4th quarter. For the Smart Safety Systems division, ECA will enjoy both sustained business and hopes for very large contracts. Lastly, the 3D Printing division will continue to make an increasing contribution to the group's business.

Next report

Publication of yearly revenue on 27 February 2015


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