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ECA : Strong growth in half-year revenue (+9.6%), growing order backlog (+12%) over one year
|In € millions||2015 (1)||2014||Var. (%)|
|Robotics and Integrated Systems||26.9||21.4||+25.4%|
|Revenue between the divisions
(1) Unaudited figures.
After excellent results in the first quarter (+2.3% vs. Q1 2014), ECA Group revenue recorded very strong growth in Q2 (+15.3%).
Revenue for the full half-year amounted to €43.1 million: +9.6% compared with H1 2014.
The positive trend displayed by the Robotics and Integrated Systems (+25.4% in the half-year) and Simulation divisions (+26.2% in the half-year) was reaffirmed and amplified in Q2. The downturn in the Aeronautics division slowed down in Q2 and the division has a solid order backlog (+52.7% compared with June 2014).
The Group's overall activity is strong after the signature of several significant contracts within the Robotics and Integrated Systems division (see press releases of April 10 and 17, 2015) and an exceptional contract of more than €10 million in the Aeronautics division (see press release of April 22, 2015).
R&D efforts continued at a steady pace during the first half of the year. These efforts focused mainly on the A18 underwater drone and the various missions of the IT180 airborne drone. Regarding the latter, subsequent to the demonstration of the "Detection of malicious drone operators" mission (see press release of April 13, 2015) and considering the keen interest shown by customers, in particular regarding exports, ECA Group accelerated the industrialization of this activity in preparation of its marketing after the summer.
The Group enjoys good visibility for the rest of 2015 with a significant increase (to €101 million) in its order backlog as at June 30, 2015, representing growth of 12% compared with June 30, 2014.
The Robotics and Integrated Systems division should continue to record a good level of activity for the remainder of the year. Furthermore, important orders initially planned for the first half of the year should ultimately be signed in Q3, meaning this division will record even better sales in the second half of the year.
The Aeronautics division expects strong revenue growth in the second half of the year. The contract of more than €10 million to provide a new assembly line for the front sections of the A320 to the Airbus Saint-Nazaire plant (see press release of April 22, 2015) should offset the decline in the division's sales in the first half of 2015. As at June 30, 2015, the order backlog had increased by more than 50% compared with June 30, 2014.
Lastly, the strong business development of the Simulation division and its order backlog of more than €17 million, a good amount for this segment, should enable the business activity to achieve annual revenue matching the very positive results of the first half of the year. This division currently shows ECA Group's best growth rate.
In the second half of the year, in keeping with the seasonality effect noted in previous years, the Group's business should be significantly higher than in the first half. The Group maintains its objectives for annual revenue.
This press release could contain statements on past events and forward-looking statements including statements regarding future goals or targets. Forward-looking statements reflect current expectations for results and future events.
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; 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.).
Some of these risk factors are set forth and detailed in our Document de Référence (Registration Document including the annual financial report filed with the French Autorité des Marchés Financiers). This list of risks, uncertainties and other factors is not limitative. Other non-anticipated, unknown or unforeseeable factors could also have material adverse effect on our targets. The Group expressly disclaims any obligation or undertaking to update or revise any forward-looking statements or targets potentially contained in this press release to reflect any change in events, conditions, assumptions or circumstances on which any such statements are based.
Half-year results released on September 10, 2015
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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 2013, the Group reported revenue of 94 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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