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First-half 2012 results



PRESS RELEASE - FIRST-HALF 2012 RESULTS

Lyon, 4 September 2012


 


Performance in line with our objectives



  • Consolidated revenue: €374 million

  • Operating profit: €27.5 million

Germany, AKKA’s key focus


The Board of Directors of Akka Technologies convened on 30 August 2012 to approve the first-half 2012 financial statements. The consolidated financial statements were subject to a limited review by the statutory auditors.


H1 2012 includes Aeroconseil, consolidated since 1 October 2011, and MBtech GmbH, consolidated since 1 April 2012.


























































Consolidated income statement (1 January - 30 June) - in € m H1 2012 H1 2011 Growth
Revenue 374.0 225.1 +66%
France 228.9 192.5 +19%
Germany 98.2 7.5 NA
Rest of World 46.9 25.1 +87%
Profit from business operations 27.5 19.8 +38.4%
Profit before tax 23.1 17.3 +33.5%
Net profit 18.0 11.7 +53.8%
Net profit - Group share 17.0 11.7 +45.3%

 


1. Consolidated operating profitability stood at 7.4%



  • In H1 2012, consolidated revenue totalled €374 million, up 66% from 2011. This growth was primarily due to the integration of MBtech and the positive momentum in the rest of the world.

  • Profit from business operations amounted to €27.5 million, i.e. 7.4% of revenue, vs. 8.8% in the year-earlier period. France - where profit from business operations contracted - faces a difficult macroeconomic and competitive environment, aggravated by one less working day and a high number of holidays taken in May. Germany succeeded in delivering a 7% profitability due to AKKA historical activity in the country. Rest of the World activities show a high profitability level at over 13%.

  • Net profit margins totalled 4.8% vs. 5.2% in H1 2011, including financial debt costs of €2.3 million and tax expenses of €5 million.

  • The Group share of consolidated net profit was €17.0 million including, for the first time, non-controlling interests of €1.1 million.

  • Following the acquisition of MBtech, the Group's financial structure is sound, with a gearing ratio of 53% which will be reduced to around 25% by the end of the financial year.

 


2. Pro forma, 51% of revenue achieved outside of France
























Income statement* - in € m

* Unaudited
H1 2012

Pro forma
H1 2011
Revenue 471.7 225.1
Profit from business operations 30.6 19.8
Net profit - Group share 18.2 11.7


  • Pro forma revenue totalled €471.7 million. Akka Technologies now generates 49% of its revenue in France, 39% in Germany and 12% in the rest of the world. The mobility sector represents 83% of its total business.

  • Net profit from business operations and the Group share of net profit represented 6.5% and 3.9% of revenue respectively.

  • Improvements to productivity and to profitability are currently underway at MBtech in order to bring profitability to a normative level. The remarkable work already achieved by the staff ensures this integration progresses efficiently.

 


3. In the medium-term, the international expansion remains the strategic focus



  • In France, enhanced by our strengths in the aeronautics, rail, energy and automotive sectors, we will adjust our positioning to provide the Group a strong and balanced basis.

  • In Germany, our long-term goal is to double revenue by developing our solutions for customers other than Daimler and by diversifying into the aeronautics and rail sectors.

  • In the Rest of the World, the Groupwill pursue its development in order to attain critical mass and will strengthen its foothold outside of Europe for future business opportunities.

The leader in France and in Germany. The leader in automotive and aeronautic. AKKA has a unique positioning.

More than 10,000 engineers in 23 countries leverage their significant expertise to provide sustainable project solutions and are driven to provide the best service possible to our customers.


 


Upcoming meetings:


The first-half 2012 results will be presented on:



  • 4 September 2012 at 6.00 p.m. - Akka, 21 Rue Antonin Laborde, 69009 Lyon, France

  • 5 September 2012 at 11.30 a.m. - NYSE Euronext - Auditorium, 39 Rue Cambon, 75001 Paris, France

Press release: Q3 revenue, 23 October 2012 after market close


 


"The best way to predict the future is to invent it.

Let's share our passion for technology. "


Akka Technologies is a European Engineering and Technology Consulting Group that supports large manufacturing and tertiary services companies, seeing their projects through from the initial studies and R&D to large-scale production. Akka Technologies is an expert in various complementary business lines and brings real added value to customers in sectors including aeronautics, automotive, space/defence, consumer electronics, telecommunications, chemicals, pharmaceuticals, steel, energy, rail, marine and service industries, etc.


Akka Technologies is the leader in the automotive and aeronautics sectors in Germany and France, and thanks to the mobility of its staff and its international positioning, it collaborates on state-of-the-art technology projects around the world.


Akka Technologies has more than 10,000 employees in over 23 countries, including Belgium, Bulgaria, Canada, China, Czech Republic, France, Germany, Hungary, India, Italy, Luxembourg, Morocco, Netherlands, North America, Poland, Romania, Spain, Switzerland, Tunisia, United Arab Emirates and United Kingdom. Akka's focus is on building a Group worth €1 billion, of which 50% is outside of France.


Akka Technologies is listed on Euronext Paris TM - Compartment B, ISIN code FR0004180537.

Indices CAC® Small, CAC® Mid & Small, CAC® All-Tradable, CAC® All-Share


For more information, please visit www.akka.eu


 


Contacts:

Akka Technologies

Nicolas Valtille - Group Managing Director - Tel: +33 (0)4 78 92 60 83 - [email protected]

Delphine Méric - Investor Relations - Tel +33 (0)6 81 20 97 14 - [email protected]


Actus Lyon

Amalia Naveira - analyst/investor relations - Tel: +33 (0)4 72 18 04 97 - [email protected]

Marie-Claude Triquet - Press Relations - Tel: +33 (0)4 72 18 04 93 - [email protected]


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