Faiveley Transport - Annual Sales 2012 2013

PR Newswire/Les Echos/ 
Press release - 26 April 2013 

               9.7% SALES GROWTH IN THE 2012/13 FINANCIAL YEAR

Gennevilliers, 26 April 2013

Sales                         2011/2012 2012/2013  % change  Organic  Forex
(€ millions)                                       reported  growth  effects
Q4: 1 Jan. – 31 March.            290     278       (4.2%)   (5.6%)   (0.5%)
Annual sales                      900     988       +9.7%    +3.3%    +1.9%


In line with previous announcements, the phasing of project deliveries was more
balanced during 2012/13 than in the previous financial year, leading to higher
quarterly growth at the beginning of the year and lower at the end of the year.
In the fourth quarter of 2012/13, the Group generated sales of EUR278 million, a
decline of 4.2% compared to the same period of 2011/2012, and down 5.6% on a
like-for-like basis.

For the financial year 2012/2013 as a whole, Faiveley Transport achieved sales
of EUR988 million, an increase of 9.7% compared to the previous year. On a
like-for-like basis, organic growth was 3.3%, in line with the Group's guidance
for the year. Over the year, the acquisition of Graham-White made a positive
contribution of 4.5%, and there was a positive foreign exchange effect of 1.9%.

On a like-for-like basis, this sales growth reflects the following developments
by region:

 * In Europe, organic sales growth was 3%, with a strong business activity in
   Italy, as well as an increase in project deliveries, especially in France, in
   the UK and in Benelux.

 * Sales in the Asia-Pacific region grew by 5%, primarily driven by the
   significant increase in project deliveries in Russia, as well as by growth in
   South-East Asia and India. Sales to China were virtually unchanged during the
   financial year;

 * North and South America reported organic growth of 4%, thanks to the
   delivery of projects in the Transit Segment which offset the decline in the
   Freight Segment.

The Services activity achieved an excellent year with sales growth of 22%,
including organic growth of 9%, and now accounts for 41% of the Group's total
sales. This significant increase reflects the success of sales initiatives aimed
at expanding the Group's range of services, as well as buoyant Italian and
French markets and the contribution of the recent acquisition of Graham White.

During the financial year, revenues from the original equipment business were
stable on a like-for-like basis.

The growth experienced by the Group confirms both the strength and balance of
its business model, with a presence in all geographic regions and all market
segments and a wide product range, both in original equipment and in services.


The Group's order book totalled EUR1,616 million at 31 March 2013, a decline of
4.4% compared to the end of March 2012, down 5.2% on a like-for-like basis.

During the fourth quarter, the Group won a number of major contracts, primarily
in Europe and Asia:
 * In the UK, Faiveley Transport was selected by Siemens to supply on-board
   doors for 112 Thameslink trains. This programme is a major capital 
   expenditure in the UK, intended to improve transport in the London area;
 * In Italy, the Group was awarded by Ansaldo-Breda, the contract for the
   supply of braking systems, air conditioning systems, pantographs and 
   couplers to equip 180 cars of the Milan Metro; Faiveley Transport was also 
   selected by Alstom to supply the braking systems for 70 Coradia regional
   trains ordered by Trenitalia;
 * In China, the Group received an order from Bombardier Sifang Transportation
   for airconditioning systems to equip 50 new generation Zefiro 250NG high-
   speed trains; in addition, Faiveley Transport won an order for the braking 
   systems of 80 new eight-axle locomotives built by Datong, in line with the 
   framework agreement signed in January for 150 locomotives;
 * In Russia, an additional order was made for air conditioning systems for the
   Moscow Metro, as well as contracts for electromechanical products on the EP20
   locomotives built by Transmashholding;
 * In India, Faiveley Transport will supply Hyundai Rotem with on-board doors
   and pantographs for the Hyderabad metro.


The Group's operating profit is expected between 11% and 11.5% of sales, meaning
an increase in the Group's profitability, in line with previous announcements.

During the financial year, the Group also achieved a satisfactory level of cash
flow generation, which as anticipated allowed for a reduction in net financial
debt over the year.


The Group expects organic growth between 0% and 3% for the 2013/14 financial
year, with the following sales outlooks by region:

 * Europe should achieve moderate growth, particularly due to the start of
   serial production deliveries of certain major projects awarded to the Group 
   over the last few years;

  * Asia-Pacific sales should be broadly stable, with an acceleration of
    locomotive deliveries in China that should offset the decline in the Group's
    metro projects in this country. In Russia, the level of activity should be
    consolidated after two years of very strong growth. India is targeting
    significant sales growth due to the delivery of metro equipment.

  * In North America, the freight market is expected at approximately 35,000
    cars per year, in line with performance over the past few months. Against 
    this backdrop, the Group will seek to pursue its development initiatives,
    particularly in the locomotive and service segments.

Next communication: 5 June 2013 (after close of trading), 2013/2014 Annual

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 6,000 people in 24 countries.

For more information, please visit www.faiveleytransport.com.


Guillaume Bouhours   Chief Financial Officer

                 Guillaume.bouhours@faiveleytransport.com +33 1 48 13 65 03
NewCap               Communications agency 
                 ehuynh@newcap.fr                         +33 1 44 71 94 99
Emmanuel Huynh 
Euronext Paris Compartment B, member of the NYSE Euronext Group 
A component of the CAC Allshare and CAC Mid 60 indices
ISIN: FR0000053142
Bloomberg: LEY FP / Reuters: LEY.FP 
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-0- Apr/26/2013 10:10 GMT
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