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2017 consolidated turnover

February 2018 Investors news

2017 consolidated turnover

Fourth quarter turnover reached €118.1 million, up by 2.3% as compared to the same period in 2016. Annual turnover, at €436.1 million, a slight improvement of 1.0%, remained very much in line with the record level achieved in 2016, thus meeting the Group’s target. Sales by the foreign subsidiaries over the quarter reached €65.0 million, a drop of 8.6%, amply offset by the turnover of the French companies, which was up by 19.6% at €53.1 million. For the full 2017 financial year, international customers represented 70.9% of overall turnover, and geographic variances as well as the performance by customer were in line with expectations.

The Automotive Division generated 89.0% of the Group’s quarterly turnover, representing a slight decrease of just 0.5%. As expected, a large proportion of the delays suffered in the first half due to supply issues with batteries were made good and the resulting exceptional transport costs gradually returned to normal from July onwards. Apart from these minor setbacks, in the fourth quarter ACTIA successfully managed the planned termination of an historically important contract, which was offset by the start of production for new contracts secured since 2015. Quarterly sales of telematic units were therefore slightly down due to the need to gradually adjust to the requirements of the new contracts, being more in the field of heavy and specialist vehicles, rather than lightweight vehicles.

In the market for technical inspection and garage equipment, the robust level of business in the fourth quarter, given added impetus by the Equip Auto Trade Fair, helped to make up for some of the delays, but without delivering the record levels of 2016, which were due to changes to the regulations in France. Further changes to international regulations are expected over the coming months. Finally, the electric vehicle business, in a market in which growth remains hampered by the high cost of batteries, was below expectations, particularly for lightweight vehicles, whereas fresh opportunities have been created for specialist vehicles and urban transportation.

The Telecommunications Division represented 10.9% of the Group’s quarterly turnover, and the sales cycle was in line with plans with a strong finish in the fourth quarter that translated into an increase of 31.9%. The 2017 contracts, orders and tenders only serve to confirm the growth potential of this division where more and more technological synergies with the Automotive Division are being captured, driven by the close relationship between mobility and connectivity in transport (rail and air travel) and energy.

For the fully year, the rail segment, which typifies the synergies between the two divisions, showed significant growth of 11.2% and this trend is expected to continue, following on from the commercial successes enjoyed in 2017. Overall, turnover in 2017 reached €436.1 million, a slight improvement of 1.0% (up by €4.5 million including €1.2 related to the acquisition of Market IP). At constant scope and exchange rates, the figure would have been +1.6%.

ACTIA has achieved its target of consolidating its business performance in 2017 and has put behind it the supply issues with batteries for telematic units, which had caused exceptional levels of transport costs up to July 2017. However, the market for electronic components is expected to remain tight due to the rising demand for connected objects. Finally, the strong and rapid rise of the euro against the dollar at the end of the year will adversely affect the mark-to-market value of hedging instruments: an accounting effect to be viewed in the light of the challenge for the Group of securing its supplies.

 

En M€ 2017(1) 2016 Var.
Q1
112.7 105.5 +6.8%
Q2
105.5 116.2 (9.3%)
Q3
99.9 94.4 +5.8%
Q4
incl: Automotive(2)
incl: Telecommunications
118.1
105.1
12.9
115.5
105.7
9.8
+2.3%
(0.5%)
+31.9%
Total 2017
incl: Automotive(2)
incl: Telecommunications
436.1
396.2
39.8
431.6
392.3
39.2
+1.0%
+1.0%
+1.5%

(1) Data pending audit.
(2) Of which €0.6 million in Q4 related to the acquisition of Mark et IP, or an annual total from this July 2017 acquisition of €1.2 million.

 


 

FORTHCOMING FINANCIAL DATES:

  • 2017 Annual Results and 2018 Outlook: Monday 26 March 2018 (after trading)
  • SFAF Briefing: Wednesday 28 March 2018 (11:30 am)
  • Q1 2018 turnover: Tuesday 15 May 2018 (before trading)

CONTACTS:

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