Saft Groupe SA reports Sales for the first quarter of 2013
PR Newswire/Les Echos/
Saft Groupe SA reports Sales
for the first quarter of 2013 Paris, 25th April 2013 - Saft, leader in the design and manufacture of advanced technology batteries for industry, announces its sales for the first quarter of 2013. Highlights - Q1 2013 sales were 133.5m, a YoY reduction at comparable perimeter* of
2.4% as reported and of 1.5% at constant exchange rates.
- Full year sales and profitability guidance unchanged.
* 2012 sales on the basis of comparable scope correspond to sales reported in Q1 2012 adjusted for sales of the Small Nickel Battery ("SNB") discontinued activity and services invoiced to Johnson Con trols Inc. in 2012 to support the Nersac lithium-ion production unit which Saft repurchased on January 1st 2013, amounting to EUR10.8m and EUR1.3m respectively for Q1 2012.
John Searle, Chairman of the Management Board, commented:
"Despite the difficult economic environment, notably in Europe where overall sales reduced, Saft has performed strongly in several markets and remains confident for the year as a whole. Sales in the transportation markets have grown strongly and important breakthroughs have been achieved in the telecom back-up power market for our new range of lithium-ion batteries. These positive trends are expected to continue. Progress in the energy storage market has been slower than anticipated due to the time taken to conclude a number of key contracts. Within the Specialty Battery Group division, the short cycle civil electronics market has been challenging, in particular in the United States where our customers remain cautious. Overall Saft has a solid backlog of orders and I can con firm our expectations for the year-end remain unchanged, although as previously stated, the performance will be stronger in H2 than in to H1."
TURNOVER (EUR million, at actual exchange rates)
First quarter 2013 Q1 2013 Q1 2012(2) Growth / (Decline)
As restated at actual at constant
exchange rates exchange rates IBG(1) 74.6 72.3 3.2% 4.6% SBG 58.9 64.5 (8.8)% (8.3)% Total 133.5 136.8 (2.4)% (1.5)% The average exchange rate in Q1 2013 was EUR1 to $1.32 (compared with EUR1 to $1.31 in Q1 2012). (1) Industrial Battery Group division's turnover for the first quarter of 2013 and 2012 excludes revenue from the small nickel batteries ("SNB") line of activity put up for sale in 2012 and presented as discontinued activity in the Group's consolidated financial statements. There is no other perimeter change between Q1 2012 and Q1 2013. (2) IBG division's Q1 2012 turnover is restated to exclude fees invoiced to Johnson Controls Inc. in 2012 for services rendered in connection with the Nersac production unit repurchased by Saft on January 1st 2013. Q1 2012 services fee amounted to EUR1.3m. Industrial Battery Group (IBG) Sales in Q1 2013 were EUR74.6m, a YoY growth of 3.2% as reported and 4.6% at constant exchange rates. Sales in the transportation market grew strongly with an 8.0% YoY increase at constant exchange rates. The rail business was strong in almost all regions while the aviation business benefited from increased sales of Li-ion batteries to the military. Sales in the stationary back-up power markets increased by 2.3% at constant exchange rates over the previous year helped by strong growth of nickel batteries to the U.S telecom operators. Sales to the energy storage segment were low, which was largely anticipated. The pipeline of opportunities remains high although there have been some delays in negotiating contracts in a number of important projects. Finally, sales of small nickel batteries were broadly flat YoY ("SNB" discontinued activity). Due to the on-going mandatory consultation process with the employee representatives, the sale of this activity is expected to take place by the end of Q2. Specialty Battery Group (SBG) Q1 sales totalled EUR58.9m, a decrease of 8.8% as reported and of 8.3% at constant exchange rates. Sales in the civil electronics market declined by 7.7% during the quarter at constant exchange rates, due to reduced demand from our metering customers in the United States. Space and Defense sales were 9.4% lower at constant exchange rates compared to prior year. The reduction in sales is entirely due to lower space deliveries which should be recovered by year-end. The overall Defense activities were broadly flat compared to prior year, with lower sales of military batteries for radios and growth in our project-based business. Financial calendar 2013 Annual shareholders' meeting 7 May 2013 2013 Q2 turnover and half year earnings 25 July 2013 2013 Q3 turnover 25 October 2013 IMPORTANT LEGAL INFORMATION AND CAUTIONARY STATEMENTS Certain statements contained herein are forward-looking statements including, but not limited to, statements that are predictions of or indicate future events, trends, plans, objectives or results of operation. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results and Saft's plans and objectives to differ materially from those expressed or implied in the forward looking statements. About Saft Saft (Euronext: Saft) is a world leader in the design and manufacture of advanced technology batteries for industry. The Group is the world's leading manufacturer of nickel batteries and primary lithium batteries for the industrial infrastructure and processes, transportation, civil and military electronics markets. Saft is the world leader in space and defence batteries with its Li-ion technologies which are also being deployed in the energy storage, transportation and telecommunication markets. Saft's 4,000 employees present in 18 countries, its 15 manufacturing sites and extensive sales network all contribute to accelerating the Group's growth for the future. For more information, visit Saft at www.saftbatteries.com SAFT Jill Ledger, Corporate Communications Director Tel: +33 1 49 93 17 77, firstname.lastname@example.org Vannara Huot, Investor Relations Director Tel: +33 1 49 93 17 10, email@example.com FTI Consulting Strategic Communications (ex FD - Financial Dynamics) Stéphanie BIA, Tel: +33 1 47 03 68 16, firstname.lastname@example.org Clément BENETREAU, Tel: +33 1 47 03 68 12, email@example.com Astrid VILLETTE, Tel: +33 1 47 03 69 51, firstname.lastname@example.org N° 15-13 www.saftbatteries.com
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