ECA : Revenue growth for Q1 across all divisions
|Q1 Revenue in €M||2016(1)||2015||Var. (%)|
|Robotics and Integrated Systems||11.6||10.9||+6.9%|
|Structure and revenue between core businesses||(0.1)||(0.1)||-|
The Group's revenue amounted to €19.5 million for Q1 2016 compared to €17.7 million (+10.4%) in 2015.
This growth was notably driven by the commercial dynamism of the Robotics and Integrated Systems division, which generated revenue of €11.8 million compared to €10.9 million the previous year, i.e. growth of 6.9%.
The Aerospace division posted revenue of €5.2 million, an increase of 11.0% compared to Q1 2015. This revenue growth is the consequence of the start of deliveries for the €10 million contract to supply a new assembly line for the front sections of the A320 for the Airbus Sant-Nazaire plant (see press release of April 22 2015).
Lastly, the Simulation division strongly contributed to the good performance of ECA Group by posting revenue growth of 26.2% for Q1 2016. This significant increase in revenue is partly due to the delivery of part of the January 2014 order for several high-end 6-axis simulators for land defense vehicles (see press release of January 16, 2014).
The order book is at a good level, with €97.3 million at March 31, 2016. ECA Group expects organic revenue growth over the year, driven, in particular, by the positive outlook of its Robotics and Integrated Systems division. This year, this division will start marketing its first integrated drone-based maritime solutions for maritime surveillance, underwater mine disposal and the recovery and search for wrecks, black boxes, etc., as well as the IT180-999 UAV (captive version of the IT180 drone). ECA Group aims for a progressive increase in sales of the IT180 in the most promising sectors, i.e. surveillance of sensitive sites, civil security (fire surveillance, search for missing persons, etc.) and land geophysics. The creation at the start of the year of the ECA DRONE service company (see press release of January 6, 2016) will be a key element for the development of the IT180 in the civil sector in 2016 and over future years. A significant new success with the sale of airborne drones for an amount of €3 million was announced at the start of the year (see press release of February 15, 2016).
The Aerospace division should continue to show the same trend as Q1 2016 thanks to the continued deliveries for the Airbus order.
In parallel, the launch of the partnership with Prodways at the end of 2015 (see press release of November 26, 2015), a Groupe Gorgé subsidiary, for the development of production tooling using 3D printing, has enabled the Aerospace division to strengthen its outlook.
This division has a good order book level, although reduced compared to end March 2015, at €14.3 million. The Group recalls that Q1 2015 was an exceptional quarter for orders as the Aerospace division had won the €10 million+ contract with Airbus in January.
Lastly, the Simulation division benefits from a strong outlook across its markets (Civil and Defense), and, in particular, for the Defense market. The year 2015, which saw the launch of a driving training simulator for modern light military land vehicles, enabled the Group to strengthen its position in the growth market of tactical or mission simulators. The year 2016 should see several sales of these simulators.
The Group will be at the Eurosatory trade show to be held from June 13 to 17 in Paris, France, and will present a functional version of this latest-generation simulator. Booth K760 (Hall 5).
In light of these first positive results, the Group confirms, to date, its revenue target of €110 million for 2016.
Publication of revenue for the 1st half-year on July 26, 2016
The ECA Group website: http://www.ecagroup.com
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Such forward-looking statements and targets depend on known and unknown risks, uncertainties and other factors that may cause actual results, performance or events to differ materially from those anticipated herein. All these risks and uncertainties could affect the Group's future ability to achieve its targets. Risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in the forward-looking statements and targets include, among other things: the risks and uncertainties possibly mentioned in this press release; the strength of competition; the growth of the market; currency fluctuations; interest rate fluctuations; raw materials and freight price fluctuations; armed conflicts or political instability; obtaining the export authorizations that may be required for certain activities; control of costs and expenses; changes in tax legislation, rules, regulation or enforcement; our ability to successfully keep pace with technology changes; our ability to attract and retain qualified personnel and key-men; the evolution, interpretation and uniform application and enforcement of International Financial Reporting Standards (IFRS), according to which we prepare our financial statements; supply chain bottlenecks; the performance of our business partners (subcontractors, agents, suppliers, etc.).
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The ECA Group is renowned for its expertise in robotics, automated systems, simulation and industrial processes. Ever since 1936 it has been developing complete innovative technological solutions to perform complex missions in hostile or restrictive environments.
Its products are used by a demanding international clientèle requiring the highest levels of safety and efficiency, mainly in the sectors of defence, maritime, aerospace, simulation, energy and industrial equipment.
In 2015, the Group reported revenue of 105.2 M€ for its three Departments: Robotics, Aerospace and Simulation.
ECA Group is a Groupe Gorgé company.
ECA Group is listed on Euronext Paris Compartiment C.
Indices : SBF 250, CAC SMALL 90 et CAC IT- ISIN code : FR0010099515
Mnémo : ECASA - Code Bloomberg : ECASA:FP
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