ECA Group: slight increase in revenue in the first half of 2017

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Revenue

In the first half of 2017, ECA Group's consolidated revenue amounted to €54.4 million, up 2.6% compared with the first half of 2016. First half of 2016 revenue level was strong, so business in the first half of 2017 performed well, resulting from sound order intake level in 2016.

Revenue from the Robotics and Integrated Systems division amounted to €32.9 million in the first half of 2017, up 5.0% compared with the first half of 2016.

During the first half, this division recorded significant orders intake including a new contract of more than €4 million from the French navy for support for PAP subsea demining robots to be carried out in over five years  (see press release), or a contract of more than €2 million from Ifremer to develop and deliver a new autonomous underwater vehicle able to reach a water-depth of 6,000 meters with total autonomy (see press release).

Furthermore, the division carried out successful tests on the AUV A18D autonomous underwater vehicle, the first vehicle of which is to be delivered during the second half of the year. Offshore oil and gas represents a significant market potential for the A18D.

Finally, last June, the division successfully demonstrated the technological edge and all the capabilities of its Unmanned MCM Integrated System UMIS for underwater mine disposal during operational demonstrations to the Belgian navy (see news).

Revenue from the Aerospace division amounted to €17.7 million in the first half of 2017, up 29.6% compared with the first half of 2016. This increase benefits from the acquisition of ELTA at the end of November 2016.

During the first half, sales of emergency locator transmitters were steady; the division announced the launch of its new «ELiTE» emergency locator transmitter for commercial aviation and a partnership was set up with NICOMATIC to develop a new electric test solution for aeronautics.

Finally, in the Simulation division, revenue amounted to €3.8 million in the first half of 2017, down 52.3% compared with the first half of 2016. The first half is affected by an unfavorable comparison basis linked to the completion of the contract for military vehicle driving simulators (MVS) at the end of the first half of 2016. At the end of 2016, the division was awarded a new contract (see press release) for military vehicle driving simulators (MVS) which will contribute to revenue in the second half of 2017.

Outlook

The group is positioned on several significant calls for tender, particularly for airborne drones, drone systems or assembly systems for the aeronautical industry which have been pending decision for several months and should go through in the second half of 2017

In this context, the group confirms its objective of reaching revenue of €120 million in 2017.

Next press release:

Half-year results to be released on 11 September 2017