2012 annual results

2012: structuring year

• Consolidated revenue: up by 74.5% to €827.3 million


• Profitability in line with target at 7.6% of revenue


• Successful deleveraging: gearing below 0.3

2013: new momentum

• AKKA is in running order


• AKKA is strengthening its positioning as specialist

Mid-term: new objective

• Operating margin of €100 million


• Strong growth in Germany


• Leverage outside of Europe

The Supervisory Board of AKKA Technologies Group approved the financial statements for the 2012 financial year at its meeting on March 28^th 2013. The audit of the consolidated financial statements has been completed and the certification report is in the process of being issued.

2012: MBtech consolidated for nine months (April 1^st to December 31^st)

AKKA is reinforced due to its European foundation in France and Germany

1/ 2012 was a strong year for AKKA Technologies. A structuring year.

• France, accounting for 54.6% of consolidated revenue, or €451.7 million, is a sound basis for the Group's growth strategy. Aeronautics and Rail were strengthened.
  
  Our know-how and expertise position us as a partner for major French customers.


• Germany, accounting for 32.8% of consolidated revenue, or €271.4 million, has significant growth potential in the Automotive sector, through diversification, as well as in the Aeronautics. This potential will enable the Group to build its largest development area in that country.


• Rest of the World, accounting for 12.6% of revenue, or €104.2 million, is growing very fast and includes 18 countries; it is a growth field for the future.

2/ The operating margin, which amounts to 7.6% of revenue, exceeding our targets.

Profit from business operations increased sharply to €63 million.

• The operating margin in France amounted to 5.9% of revenue, despite a highly competitive environment. The margin increased in the second half-year (7.3% compared with 4.6% in H1) The Q4 action plan, tight costs controls, and sales reorganisation began to deliver.


• The operating margin in Germany amounted to 4.8% of revenue. AKKA Germany turned in an outstanding performance (Operating margin equivalent of 15%). Meanwhile, as announced, MBtech's profit margins improved significantly, from 2.7% in 2011 to 4.3% in 2012. Excluding non-recurrent carve-out items (costs of deconsolidating Daimler), the operating margin increased by 100%. The productivity and diversification plan is ongoing.


• The Rest of the World profit margin remained at a high 13%, despite the dilutive impact of the MBtech start-ups (China and US).

On a pro forma basis revenue amounts to €925 million, while operating income amounts to €66 million. The mobility sector accounts for 82% of revenue and gives AKKA a unique specialist positioning.

3/ The Group's financial structure is strengthened in less than one year.

Gearing is 29.6% at December 31^st 2012, with shareholders' equity of €177 million and net debt of €52.4 million.

• Gross debt has fallen significantly since June 2012, while the cash position has been rebuilt.


• In March 2013, AKKA optimised its financing via a successful €100 million bond issue. 


• AKKA has restored its financial flexibility and has realigned its capacity to support the Group's development.

Medium-term target: operating margin of €100 million

In one year, AKKA has become an international group, set up a unique European foundation and is now ready to accelerate its world-wide expansion. The Group will generate an operating margin of €100 million in the medium term, sign of its new momentum.

Next meetings: April 2^nd at 6.00 pm in Lyon - 21 avenue Antonin Laborde, 9^th District, and April 3^rd 2013 at 11.30 am in Paris - NYSE Euronext - 39 Rue Cambon, 1^st District.^.

 

Next release: 2013 1^st quarter revenue on April 29^th 2013 after the stock market closes

"The best way to predict the future is to invent it.

Let's share our passion for technology.

AKKA Technologies is a European Engineering and Technology Consulting Group that supports large manufacturing and tertiary services companies, seeing their projects through from the initial studies and R&D to large-scale production. AKKA Technologies is an expert in various complementary business lines and brings real added value to customers in sectors including aeronautics, automotive, space/defence, consumer electronics, telecommunications, chemicals, pharmaceuticals, steel, energy, rail, marine and service industries.

AKKA Technologies is the leader in the automotive and aeronautics sectors in Germany and France, and thanks to the mobility of its staff and its international positioning, it collaborates on state-of-the-art technology projects around the world.

AKKA Technologies has more than 10,000 employees in over 20 countries, including Belgium, Canada, China, Czech Republic, France, Germany, Hungary, India, Italy, Morocco, Netherlands, Romania, Russia, Spain, Switzerland, Tunisia, Turkei, United Arab Emirates, United Kingdom and USA,. AKKA's focus is on building a Group with revenue of €1 billion, of which 50% outside of France.

AKKA Technologies is listed on Euronext Paris TM - Segment B, ISIN code FR0004180537.

Indices CAC® Small, CAC® Mid & Small, CAC® All-Tradable, CAC® All-Share

For more information, please visit www.akka.eu

Contacts:

AKKA Technologies

Nicolas Valtille - Group CEO - Tel: 04 78 92 60 83 - [email protected]

Delphine Méric - Investor Relations - Tel: 06 81 20 97 14 - [email protected]

 

Actus Lyon

Amalia Naveira - Analyst & Investor Relations - Tel: 04 72 18 04 97 - [email protected]

Marie-Claude Triquet - Press Relations - Tel: 04 72 18 04 93 - [email protected]

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