NewswireToday - /newswire/ -
Paris, Ile de France, France, 2013/07/24 - Patrick Boissier, Chairman & CEO of the DCNS Group, said: “In the course of the first half of 2013, we recorded an increase in revenue confirming our growth potential - DCNSgroup.com.
Operating profit did not see the same growth due to the impact of certain operational difficulties and increased investment in R&D.”
DCNS - FREMM In the absence of any major new contracts, the Group booked orders worth €578 million in the first half of 2013, compared with €813 million in H1 2012. At end June, the orderbook was worth €13.23 billion, compared with €14.2 billion a year earlier. This represents four years’ output.
First-half revenue rose to €1.63 billion, compared with €1.4 billion a year earlier, thanks to good progress on industrial programmes for the French Navy (FREMM frigates, Barracuda submarines and through-life support for front-line ships) and others for international client navies (notably Brazil, India and Russia).
Operating profit before impact of PPA (purchase price allocation) for the first half of 2013 amounted to €95 million, or 5.8% of revenue, compared with €98 million, or 7% of revenue, for the same period last year. The Group encountered operational difficulties in certain industrial programmes, primarily in the civil nuclear engineering sector. It also stepped up R&D investment relative to H1 2012 in order to maintain its technological leadership in key markets. An action plan has been launched to increase operating profitability.
The full-time equivalent employee headcount amounted to 13,511 as of end June 2013, compared with 12,987 twelve months earlier.
DCNS - Results
It should be noted that half-year results in terms of revenue (which is booked as industrial milestones are achieved pursuant to the terms of the different contracts) and order intake (which depend on important contracts) cannot be extrapolated to full-year trends.
H1 2013 highlights in chronological order
- DCNS and Odebrecht celebrated the official inauguration of the Brazilian Navy’s new submarine shipyard complex at Itaguaí in the presence of Ms Dilma Rousseff, the President of the Federal Republic of Brazil.
- DCNS acquired a majority stake (59.7%) in and took over the control of Irish tidal energy start-up OpenHydro.
- DCNS set up a corporate university, dubbed DCNS Universeaty®, drawing on 1,500 in-house specialists.
- DCNS launched training courses for Malaysian individuals as part of an innovative partnership to supply the Royal Malaysian Navy with six Gowind® front-line corvettes.
- DCNS began sea trials of the FREMM multimission frigate for the Royal Moroccan Navy.
- Exercises with the US Navy confirmed the capabilities of first-of-class FREMM multimission frigate Aquitaine.
- DCNS and local partners delivered the sixth and last Skjold-class fast patrol boat to the Royal Norwegian Navy.
- DCNS and PIRIOU set up KERSHIP, a joint venture that the partners hope will become a world leader in maritime security vessels.
- DCNS and ALCEN signed a cooperation agreement to foster SME growth.