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
- 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
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
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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-0- Apr/26/2013 07:19 GMT
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