PR Newswire/Les Echos/
Press release 25 October 2012
21.2% SALES GROWTH IN THE FIRST HALF-YEAR
CONFIRMATION OF FULL-YEAR SALES TARGET
Gennevilliers, France, 25 October 2012
Sales 2011/2012 2012/2013 % change % change Forex
(EUR millions) published organic effect
Q1: 1 April - 30 June 169.3 224.0 + 32.3% + 21.2% + 4.0%
Q2: 1 July - 30 Sept. 211.0 237.1 + 12.4% + 2.9% + 3.9%
HY1 2012/2013 380.3 461.1 + 21.2% + 11.1% + 3.9%
11% ORGANIC SALES GROWTH IN THE FIRST HALF-YEAR
Faiveley Transport generated sales of EUR 237.1 million in the second quarter
of the 2012/2013 financial year, an increase of 12.4% compared to the same
period of the previous year. On a like-for-like basis, sales were up 2.9% over
the second quarter.
Overall, for the first half of 2012/2013, sales totalled EUR 461.1 million, an
increase of 21.2% compared to the first half of 2011/2012, of which 11.1%
growth on a like-for-like basis, a 3.9% positive foreign exchange effect and a
6.2% positive external growth effect (integration of Graham-White).
On a like-for-like basis, sales grew in all geographic regions:
* Europe grew by 10% thanks to a favourable comparative basis, strong
business activity in Italy, the delivery of equipment for SNCB's Brussels
RER trains and the delivery of new trains for the London underground.
France also reported growth and remains the Group's leading market with
15% of total group sales.
* The Asia-Pacific region recorded growth of 8% on a constant foreign
exchange basis, driven by a strong increase in deliveries to Russia.
China, the Group's second market with 13% of total sales, experiences a
recovery, notably with a significant increase in metro equipment
* The Americas reported organic growth of 18% for the first half of the
year, due to the ramp up in the delivery of Passenger projects and in
spite of the slowdown in the freight segment since the 2nd quarter.
Following the acquisition of Graham-White, the US now accounts for 11% of
total Group sales.
The Service activity continued to post steady, buoyant growth with a 14%
increase on a like-for-like basis over the first six months. Original equipment
activities achieved organic growth of 9% during the period.
As of 30 September 2012, the order book totalled EUR 1,680 million, a
year-on-year increase of 4.1% and a decline of 0.6% over the first half-year.
On a like-for-like basis, the year-on-year increase was 2.1%, with a decline of
1.3% over the first six months.
Major orders won by the Group during the first half of the year include:
* In France:
- The retrofit of platform screen doors for 18 stations of the Lille
Metro Line 1;
- A repeat order for air conditioning systems, brake components and
access doors for 70 trains of the Paris metro, built by Alstom and
Bombardier on behalf of RATP.
* In Morocco:
- Access doors, interior doors and braking systems for 14 high-speed
trains built by Alstom for the Tanger-Casablanca line.
* In Asia-Pacific:
- An access doors contract with Alstom for 42 new trains for
- In China, an order for access doors and air conditioning systems
for 46 CRH1-250 high-speed trains built by Bombardier Sifang
- In Russia, the supply of braking systems and pantographs for
Transmashholding's new EP20-type locomotives and a repeat order for
air conditioning systems for the Moscow metro.
CONFIRMATION OF FULL-YEAR SALES TARGET
Europe should report sales growth over the full financial year, with a
continued good level of deliveries.
In North America, after a strong start to the year, the US freight car market
is showing signs of slowing down, with an estimated 40,000 to 45,000 new
freight cars on an annualised basis during the second half (compared to initial
forecasts of 53,000 for the year), while the locomotives market remains stable
around 1,200 locomotives per year.
In China, the Group has been selected to supply braking systems for the
prototypes of two new high-speed platforms, CRH-3A and CRH-3G, built by the
Chinese manufacturers Tangshan Railway Corporation (TRC) and Changchun Railway
Corporation (CRC), respectively. These trains will have speeds of 250 km/h and
are to be tested for approximately one year before receiving certification from
regulatory authorities; series production orders may be placed after they have
been certified. More generally, the effects of the new investments plans in
China will likely materialize from 2013/14.
Lastly, in Russia, the Group should benefit from buoyant growth in its
The Group is maintaining its objective of sales growth over the full financial
year, with modest organic growth and the positive contribution of the
acquisition of Graham-White.
Shareholders' agenda: 27 November 2012 (after close of trading), Half-Year
FAIVELEY TRANSPORT, WORLD LEADER IN THE RAILWAY INDUSTRY
About Faiveley Transport Group
Faiveley Transport is a global leader in high tech components for rail systems.
The Group supplies manufacturers, operators and railway maintenance bodies
worldwide with the most comprehensive range of systems in the market: air
conditioning, passenger access systems, platform doors and gates, braking
systems, couplers, power collectors, passenger information and services.
FAIVELEY Transport employs more than 5,000 people in 25 countries.
For more information, please visit www.faiveleytransport.com.
Guillaume Bouhours Chief Financial Officer
Guillaume.firstname.lastname@example.org +33 1 48 13 65 03
NewCap Communications agency
email@example.com +33 1 44 71 94 99
Euronext Paris Compartment B, member of the NYSE Euronext Group
A component of the CAC Allshare and CAC Mid 60 indices
Bloomberg: LEY FP / Reuters: LEY.FP
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-0- Oct/26/2012 09:51 GMT
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