Revenue for the 1st quarter of 2014: Growth of nearly 3% in revenue and order backlog of nearly 3%

Groupe Gorgé's consolidated revenue amounted to €46.2 million in the 1^st quarter of 2014, compared with €45 million (+2.8%) in 2013, boosted by the strong results of the Protection in Nuclear Environments division.

As a whole, activity levels are in line with the seasonality effect experienced by the Group, which is traditionally characterised by a weaker 1^st half-year and a stronger second half-year.

The Smart Safety Systems division generated revenue of €17.3 million, compared with €17.9 million in the previous year. The slight decrease (-3.1%) is due to a weak quarter in terms of robotic operations, which is partially set off by the strong results of simulation operations. For the record, this division is most impacted by the seasonality effect (55% of revenue in 2013 was generated in the 2^nd half-year) within the Group.

Revenue generated by the Industrial Projects and Services division amounted to €17.6 million, compared with €18.2 million in the 1^st quarter of 2013, representing a 3.1% decrease. CIMLEC recorded 7.5% growth in the 1^st quarter, whereas fire protection operations have seen a slight decrease. Sales generated through the 3D printing division are still marginal. These half-year trends are not representative of the activity levels expected for the entire financial year.

Lastly, the Protection in Nuclear Environments division experienced strong growth in the 1^st quarter (+26.6%), with revenue of €11.4 million, compared with €9 million in the 1^st quarter of 2013.

Outlook

The consolidated order backlog amounted to €179 million as at 31 March 2014, representing a 2.5% increase in the quarter. By division, the order backlog is stable at €84 million for the Smart Safety Systems division, with a 24% increase in the Industrial Projects and Services division and a decrease in the Protection in Nuclear Environments division, bearing in mind that significant orders are currently in the final stages of negotiation within the latter division.

The Group expects organic revenue growth over the year. The acquisition of Infotron was a strategic move in the area of airborne drones. Other acquisitions may also be made in the year.

Next report

Publication of revenue for the 1^st half-year on 25 July, 2014.

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