- In line with annual outlook
- Increase in sales and operating profitability
- Increase in orders on the domestic market
- A new brand for greater outreach
|Consolidated sales millions of euros (€m)||H1 2017||H1 2016||year 2016|
|EBITA 1 Operating margin (EBITA/sales) in %||84.7 5.0%||44.5 3.1%||102.5 3.2%|
|Consolidated net profit||59.9||44.6||87.5|
Orders takenOrders taken during the first half of 2017 amount to €2.608 billion. They brought the order book to €12.5 billion at end June 2017. They also confirmed the gradual rise in the average margin rate of the order book that had already been observed. This is a prerequisite for the long-term profitability of our operations if we are to build a solid and profitable future for the company and create the resources required for our development. The main orders taken in France or on international markets over the previous reporting period concern all the Group's sectors of activity, from construction programmes to services and equipment. The main notifications concern the intermediate-size frigate programme (FTI), the renovation of La Fayette-class frigates, the nuclear attack submarine programme (SSN), and the Australian submarine programme.
Sales, EBITA and net profitConsolidated sales stood at €1.707 billion, significantly higher than that of the first half of 2016. They were driven by the major domestic programmes, primarily the FREMM multi-mission frigate and the Barracuda nuclear attack submarine, international programmes with Brazil and Egypt as well as by Services, in particular with the maintenance programmes for nuclear attack submarines and ballistic missile nuclear submarines, as well as the mid-life refurbishment of the Charles de Gaulle aircraft carrier. EBITA stood at €84.7 million in the first half of 2017. The operating profitability of sales improved from one half-year to the other, from 3.1% in H1 2016 to 5% over the same period in 2017. These excellent momentum demonstrates that the actions undertaken under the Progress Plan and the Overall Performance Agreement continue to bear fruit and contribute to improving our competitiveness and profitability. Consolidated net profit for the first half of 2017 amounted to €59.9 million.
OutlookFor the whole of fiscal 2017, Naval Group confirms the outlook announced at the beginning of the year: a slight increase in sales, continued improvement of profit and operating profitability. Net profit should increase by 10 to 15% compared with 2016.
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