AKKA TECHNOLOGIES : Excellent first half 2008
Income from operations increased sharply to 15.1M€
Consolidated earnings (1 January - 30 June)
|Income from operations||15,1||7,6||+ 97%|
|Current operating income||13,3||6,2||+ 113%|
|Cost of financial debt||(2,7)||(0,8)||+ 237%|
|Net income before tax||10,7||5,4||+ 96%|
|Consolidated net income||7,2||3,9||+ 85%|
|Internal cash generation||18,1||8,7||+ 107%|
Sharp increase in business activities: + 93%
The consolidated revenue posted by AKKA Technologies totalled 194.9 M€. Excluding COFRAMI, business increased 26.4% to reach 127.6 M€.
Operating margin stands at 7.7%, exceeding profit targets
AKKA Technologies has once again generated profitable growth with an operating income up by 97% resulting from a robust activity ratio and a tight control over structural costs.
COFRAMI's recovery gathered speed and contributed 2.7 M€ to operating profit.
International business posted 19.3 M€ in revenue and made a positive contribution to the Group's performance.
Net income is up by 85%
Taking into account 3.5 € in corporate tax, consolidated net income stands at 7.2 M€.
Deleveraging and solid cash generation
As previously announced, net debt equity ratio (gearing) was brought down to 0.52 as against 0.87 at 31 December 2007.
Over the period, the group generated 24.5 M€ in cash.
2008 Targets confirmed
For the full financial year AKKA Technologies has reiterated and is raising its financial targets:Revenue is expected to top 380 M€.
Organic growth in excess of 13%, excluding COFRAMI
The percentage of operating profit for the full financial year 2008 is expected to be close to that generated in the first half of the year.
Next meeting: half-year earnings presentation meetings 2008, 10 September 2008 at 10:30 am at La Cour des Loges, Lyon 5ème and at 5:30 pm at Palais de la Bourse, Paris 2ème
Next press release: Q 3 revenue, on 13 November after the end of the Bourse trading day
About AKKA Technologies
AKKA Technologies, an engineering and technology consultant, provides guidance to key accounts in the industrial and service sectors in executing the different stages of their project, from R&D to study to mass production.
AKKA Technologies, through its expertise in complementary business lines, delivers added value to its clients in sectors such as automotive, aeronautics, space/defence, consumer electronics, telecommunications, chemicals, pharmaceuticals, steelmaking, energy, rail, naval activities and services.
Thanks to its highly mobile teams and international positioning, AKKA Technologies is involved in cutting-edge projects worldwide.
As of 30 June 2008, the Group employed 5,200 staff in over 40 sites in France, Belgium, Italy, UK; SwitzerlandMorocco and Rumania.
AKKA Technologies, is listed on EuronextTM Paris - Compartment C - ISIN Code: FR0004180537.
As of the Paris Bourse session of Monday, 22 September 2008, AKKA Technologies stock will be included in the basket of shares making up the SBF 50, CAC IT and CAC Small 90 indices
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