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Q2 2018 turnover

August 2018 News

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Turnover for the second quarter reached €119.7 million, up by 12.7% compared to the same period 2017. The acceleration in growth over the quarter was the result of the rapid ramping up of new supply contracts in both the Automotive and Telecommunications Divisions. In view of the production cycles of the contracts which cover a number of years, and the current product mix, the increased revenues will not as yet be reflected in the Group’s results and so the Group maintains its objective of a return to previous levels of profitability against a backdrop of a tense international market for components.

Sales in foreign subsidiaries were €67.0 million, an increase of 14.6%, while sales in the French companies increased by 10.4% to reach €52.7 million. 

Over the full period, international customers represented 71.5% of turnover and geographic variances were in line with expectations.

 


€ millions 2018* 2017 Var. 2017(1)
Q1 106,8 106,8 <5,0%>  112,7
Q2 119,7 106,2 +12,7% 105,5
Of which: Automotive
            Télécommunications
109,4
10,3
97,1
9,1
+12,6%
+13,0%
 96,3
9,2
H1 226,6 218,7 +3,6% 218,2
Of which: Automotive
               Télécommunications
208,5
18,0
199,6
19,1
+4,5%
<5,8%>
198,9
19,2

* Unaudited data.
(1) Data published in 2017 excluding changes to IFRS 15.


 

The AUTOMOTIVE Division generated 91.4% of the Group’s quarterly revenue, showing growth of 12.6%. As expected, the balance of sales shifted in favour of new contracts, with a particularly good level of shipments for heavy and specialist vehicles. The sales of telematic boxes and the good performance of other equipment and services in the Original Equipment Manufacturers segment helped to generate growth of 15.1% in comparison to the second quarter 2017, despite the end of a major contract.

Division Following an indifferent first quarter, the Aftermarket segment produced growth of 3.7%, driven by a gradual strengthening of international sales; a trend that ACTIA is seeking to further bolster by responding to the regulatory changes expected over the coming months in the area of technical inspection.

Concerning the electric vehicles segment (powertrains and batteries), the Group’s sales are not affected by the closure of Autolib in Paris, but remain limited by the current size of the end markets. At the same time, ACTIA is pursuing new opportunities in specialist vehicles and urban transport.

The TELECOMMUNICATIONS Division represented 8.6% of the Group’s quarterly revenue, showing growth of 13.0% this quarter. Sales had almost returned to the levels achieved at end 2017 and are expected to continue to show sustained growth. The business is being driven by the commercial successes of 2017 and the first half in the SatCom segment. New developments are expected in the international business, particularly in North Africa in the area of energy. To accompany this new growth phase, ACTIA has launched a property investment programme of €5 million (H1 2018 / H1 2019).

The Rail segment, a testimony to the synergies between the two divisions, has enjoyed significant sales expansion in response to the goals set out by the Group for this growth driver. This progress is expected to further accelerate over the coming months, supported over the long term by multi-year contracts.

In total, turnover for the first half 2018 reached €226.6 million, up by 3.6%, or 6.4% at constant exchange rates. Against the background of a tense market for components and the ramping up of new contracts, initially with lower margins, ACTIA maintains its profitability objective of returning to the excellent margin levels achieved in 2016, after a 2017 financial year marked by non-recurring costs related to the supply difficulties for certain components.

 

2018 OUTLOOK (reminder)

For 2018, ACTIA maintains its objective of moderate growth with a return to previous levels of profitability. The expected and, indeed, actual difficulties experienced in the international components market, could limit any improvements in profitability compared to 2017 and therefore hinder implementation of the drivers leading to a potential overachievement of the initial objective.

The Automotive Division will continue to replace (nearly 10% of sales) the historical contract through the development of new contracts in diverse market segments (both geographic and business wise), with a view to reducing its exposure to commercial risk. Elsewhere, the reinforcement of the partnerships with Alstom and Airbus confirms the bright outlook for the Group in Rail and Aeronautics. Lastly, the Telecommunications Division is well positioned to achieve robust growth starting this year.

With efficient production facilities, considerable international potential, a solid financial position and a widely acknowledged capacity for innovation in areas of strategic excellence, ACTIA is confident in its ability to continue to pursue its strategy of profitable growth.

 

PROPOSED DIVIDEND (reminder)

Payment of the dividend of €0.12 per share approved by the General Meeting of Shareholders on 30 May 2018 was made on 15 June 2018.

 


FUTURE DATES:

  • H1 2018 results: Monday 17 September (after trading)
  • SFAF briefing for H1 2018 results: Wednesday 19 September (at 2 pm)
  • Q3 turnover 2018: Wednesday 14 November (before trading)

CONTACTS :

  • ACTIA - Catherine Mallet - Tel: +33 (0)561 176 198 - CONTACT
  • CALYPTUS - Marie Calleux - Tel: +33 (0)153 656 868 - CONTACT

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