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Quarterly revenue up by 27%

Quarterly revenue up by 27%

Consolidated revenue for the ECA Group totaled €24.8m in the first quarter of 2017, as against €19.5 million in 2016 (+27.2%). The increase was largely driven by the solid performance of the Robotics and Aerospace divisions.
Tuesday, April 25 2017

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(1) Unaudited figures

Consolidated revenue for the ECA Group totaled €24.8m in the first quarter of 2017, as against €19.5 million in 2016 (+27.2%). The increase was largely driven by the solid performance of the Robotics and Aerospace divisions.

Robotics and Integrated Systems generated revenue of €14.9 million in the first quarter of 2017, versus €11.7 million (+26.4%) in 2016.

It was boosted by the strong sales recorded since the fourth quarter of 2016, notably including the contract for vessel demagnetization systems and UAV magnetic surveying systems announced in February (see the press release).

The Simulation division recorded revenue of €1.1 million, compared with €2.7 million in the first quarter of 2016. The division is still to receive the contribution from the second military vehicle simulator contract which it won in late 2016 (figures for the first quarter of 2016 were boosted by the first contract coming to an end).

Lastly, the Aerospace division recorded strong growth (+72%), with quarterly revenue of €8.9 million. The increase is mainly due to the contribution from ELTA, acquired in late November 2016 (see the press release).

 

Positive trends confirmed

The Group’s order book grew by more than 15% year on year. The outlook therefore remains highly satisfactory. The Group is also competing for various major calls for tender.

For 2017, the Group’s management is targeting revenue of more than €120 million.

 

Next key date:

Revenue announcement for the first half of 2017 on July 27, 2017.