Strong growth in half-year revenue (+9.6%), growing order backlog (+12%) over one year

Monday, July 27 2015
After excellent results in the first quarter (+2.3% vs. Q1 2014), ECA Group revenue recorded very strong growth in Q2 (+15.3%).Revenue for the full half-year amounted to €43.1 million: +9.6% compared with H1 2014.

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(1) Unaudited figures.

After excellent results in the first quarter (+2.3% vs. Q1 2014), ECA Group revenue recorded very strong growth in Q2 (+15.3%).
Revenue for the full half-year amounted to €43.1 million: +9.6% compared with H1 2014.
The positive trend displayed by the Robotics and Integrated Systems (+25.4% in the half-year) and Simulation divisions (+26.2% in the half-year) was reaffirmed and amplified in Q2. The downturn in the Aeronautics division slowed down in Q2 and the division has a solid order backlog (+52.7% compared with June 2014).
The Group's overall activity is strong after the signature of several significant contracts within the Robotics and Integrated Systems division (see press releases of April 10 and 17, 2015) and an exceptional contract of more than €10 million in the Aeronautics division (see press release of April 22, 2015).
R&D efforts continued at a steady pace during the first half of the year. These efforts focused mainly on the A18 underwater drone and the various missions of the IT180 airborne drone. Regarding the latter, subsequent to the demonstration of the "Detection of malicious drone operators" mission (see press release of April 13, 2015) and considering the keen interest shown by customers, in particular regarding exports, ECA Group accelerated the industrialization of this activity in preparation of its marketing after the summer.

Outlook
The Group enjoys good visibility for the rest of 2015 with a significant increase (to €101 million) in its order backlog as at June 30, 2015, representing growth of 12% compared with June 30, 2014.
The Robotics and Integrated Systems division should continue to record a good level of activity for the remainder of the year. Furthermore, important orders initially planned for the first half of the year should ultimately be signed in Q3, meaning this division will record even better sales in the second half of the year.
The Aeronautics division expects strong revenue growth in the second half of the year. The contract of more than €10 million to provide a new assembly line for the front sections of the A320 to the Airbus Saint-Nazaire plant (see press release of April 22, 2015) should offset the decline in the division's sales in the first half of 2015. As at June 30, 2015, the order backlog had increased by more than 50% compared with June 30, 2014.
Lastly, the strong business development of the Simulation division and its order backlog of more than €17 million, a good amount for this segment, should enable the business activity to achieve annual revenue matching the very positive results of the first half of the year. This division currently shows ECA Group's best growth rate.
In the second half of the year, in keeping with the seasonality effect noted in previous years, the Group's business should be significantly higher than in the first half. The Group maintains its objectives for annual revenue.

Next report

Half-year results released on September 10, 2015

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