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AKKA TECHNOLOGIES : 2008 revenue at 381.5 M Euros - Group Grows 17%, excluding Coframi
AKKA Technologies - Hit its Target with Annual Revenue above 380 M€, up 62%.
Consolidated revenue (1st January - 31 December)
|Q4 revenue||98.7||84.9||+ 17%|
|Cumulated revenue 2008||381.5||236.0||+ 62%|
- As forecast, over 12 months, sales revenue exceeded 380 M€. The group grew by 17 %, excluding COFRAMI, a performance which is well above its original objective. In Q 4, growth has remained sustained at above 6 %, excluding Coframi.
- Each of the Group's business lines has posted improved earnings and is strengthening its position across all business segments.
- International activities are up 43% to 39.8 M€ with each subsidiary doing brisk business.
Financial structure has been strengthened
- The percentage of income from operations 2008 should be close to the figure published in the first half of 2008, that is, 7.8%.
- With deleveraging proceeding at a quicker pace than expected, the Group had at 31 December 2008 a robust financial structure with a substantially improved gearing ratio.
Solid Fundamentals that make for resilience in 2009
- We are pursuing a strategy based on striking the right balance between many sectors and business lines and among many territories, which ensures that the Group can go on the defensive. Aeronautics, rail and energy are very buoyant sectors that constitute drivers for growth;
- We have a proven record of generating cash: gearing will certainly turn negative in 2009;
- We have a solid base and are thus capable of anticipating and responding quickly to new developments thanks to adjustment measures already implemented in Q4 which will enable the Group to adjust to the current economic cycle while protecting and preserving profit margins;
AKKA Technologies is entering 2009 with peace of mind and equipped with the necessary financial resources to pursue its development and it is poised to seize growth opportunities which will arise, notably in Germany.
Next press release: Annual results on 2 April 2008 (after the close of stock market trading).
Next events : information meeting at Lyon on 2 April at 6 pm at Cour des Loges and at Paris on 3 April at 11 am at Palais de la Bourse
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.
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.
At 31 December 2008, AKKA Technologies employed 5,300 staff and had 40 subsidiaries in France, Belgium, Italy, UK, Germany, Switzerland, Morocco, India and Romania
AKKA Technologies is listed on EuronextTM Paris Eurolist - Compartment C - ISIN Code: FR0004180537.
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