14% growth in the 1st half of the year
International business up by 42.9%
Exclusive negotiation for the takeover of the Aeroconseil Group
2010 turnover: €105 M, 24% of which was outside France
Threshold of 1,000 international employees reached
|Consolidated turnover in € M – not audited (1st January – 30th June)||2011||
- The 2nd quarter of 2011 confirms the positive growth trend
In a supportive environment in Europe and in all sectors, the 2nd quarter saw the revenue rise by 11.3% to €111.4 M, 12.2% of which was organic growth. Utilization ratio remains stable.
- 14.8% organic growth in the 1st half of the year
- Revenue 1st half 2011: €225.1 M
- International revenue: 14.5%
- 5,750 employees
- Number of days worked: 127 (vs 126 in 1st half of 2010)
- The growth in activities is sustained in the key sectors, with booming revenue for the automotive industry (+83%) thanks to Renault and PSA, while business with German manufacturers has doubled in volume.
The rail sector has also grown (+22%), benefiting from the diversification of manufacturer clients and an extension of the range of services offered in relation to signals and rail operations.
- International business continues to grow, representing 14.5% of the Group’s revenue (vs. 11.6% in the first half of 2010), up by 42.9%. Business is thriving in Belgium (+24.2%) and Italy (+74.8%). Germany is growing fast (+75.9%) with significant development in the key sectors of the automotive and aviation industries.
- Exclusive negotiations for a major accretive takeover *
- AKKA Technologies has entered into exclusive negotiations to buy out 100% of the capital of the Aeroconseil Group (AEC). This takeover is accretive immediately, and will be paid in cash.
- Aeroconseil has 1,235 employees, 244 of which work outside of France, mainly in Germany and Spain, bringing the total number of international employees of the AKKA Group to over 1,000, nearly 200 of whom are based in Germany.
In 2010, Aeroconseil generated a revenue of 105.2 €M, with net profitability of over 7%.
- Resulting from Aerospatiale SA, Aeroconseil has established its reputation on niche skills in the aviation industry which complement those of AKKA, enriching the range of services offered by the Group, particularly in the fields of Aircraft modification, Flight physics and an Airline department which will be a key part of our international business.
- The takeover of Aeroconseil foreshadows the expected substantial growth in Germany, in line with the strategy of balance, sectors and clients, helping AKKA accelerate its development.
- Sustained organic growth across the financial year
Over the 2011 financial year, the accelerating AKKA Technologies Group will enjoy organic growth of over 10%.
- In the medium term, the Group will double its revenue
- Backed up by solid financial resources (positive net cash flow at the end of June 2011), AKKA Technologies will double in size in the medium term, with potential for organic and external growth focusing on:
Development in the most important sectors (energy, space, automotive, aviation etc.), combined with a high added-value range of services.
International development acceleration, mainly in Germany.
Next press release: Half-year results 2011, 5th September 2011 after the market closure
* This takeover is subject to authorisation from the French Competition Authority.