| |
property for sale in paphos polis cyprus
News and Information Article
PARIS, May 11 /-FirstCall/ -- Saft, leader in the design,
development and manufacture of high-end batteries for industry and defence,
announces its sales for the first quarter of 2006.
TURNOVER (EUR millions, under IFRS)
At actual exchange rates
Period Q1 2006 Q1 2005 Growth /
Exchange actual 2006 actual 2005 decline,
rate year-on-year,
as reported
Perimeter As reported As reported
(i.e., including (i.e., including
AMCO-Saft India Ltd ASB/MSB)
and excluding
ASB/MSB)
SBG 58.5 66.2 -11.60%
IBG 58.9 52.1 13.10%
RBS 19.6 23.1 -15.20%
Total 137 141.4 -3.10%
At constant exchange rates* and constant perimeter
Period Q1 2006 Q1 2005 Growth /
decline,
year-on-year,
Exchange actual 2006 actual 2006 at constant
rate perimeter
Perimeter Excluding AMCO- Excluding ASB/MSB and at constant
Saft India Ltd exchange rate
and
excluding ASB/MSB
SBG 58.5 67.8 -13.70%
IBG 58 53.8 7.80%
RBS 19.6 23.5 -16.60%
Total 136.1 145.1 -6.20%
(*) The average exchange rate in Q1 2006 was EUR1 : $1.20 (compared
with EUR1 : $1.31 in Q1 2005).
Q1 2006 sales of EUR 137.0m were down 3.1% as reported and down 6.2% at
constant exchange rates and constant perimeter, compared with Q1 2005.
As indicated in our 2005 earnings press release, there have been two
changes in perimeter between Q1 2005 and Q1 2006:
1) As announced on 15th February 2006, Saft has acquired a controlling
51% stake in an Indian industrial NiCd battery manufacturer, AMCO-Saft
India Ltd, effective from 1 January 2006. This acquired business
contributed incremental revenues of EUR 0.9m in Q1 2006, reported within
IBG.
2) There has been a change in accounting principle regarding the
ASB/MSB joint venture, which is now accounted for under the equity method.
This joint venture was proportionately consolidated in 2005 and contributed
revenues of EUR 1.8m in Q1 2005, reported within SBG.
Specialty Battery Group
SBG sales were down by 11.6% as reported to EUR 58.5m, and by 13.7% at
constant exchange rates and constant perimeter, compared with Q1 2005. This
EUR 9.3m fall at constant exchange rates and constant perimeter comprised a
EUR 12.2m fall in sales to the US Army and net growth of EUR 2.9m across
other segments, with civil lithium performing particularly strongly.
The decline in sales to the US Army in Q1 2006 was in line with
expectations and Saft continues to expect sales to this customer of
approximately EUR 20m for the full year 2006.
Industrial Battery Group
IBG sales increased 13.1% as reported to EUR 58.9m and by 7.8% at
constant exchange rates and constant perimeter, compared with Q1 2005.
Sales in the aviation and industrial standby segments continued to grow
strongly. This was partly offset by a fall in sales to railway customers
after an exceptional performance in 2005 essentially due to the phasing of
contract deliveries.
Rechargeable Battery Systems
RBS sales fell by 15.2% as reported to EUR 19.6m and by 16.6% at
constant exchange rates and constant perimeter, compared with Q1 2005. This
was entirely accounted for by the non-strategic telecom and consumer
segment, with emergency lighting battery sales showing year-on-year growth.
John Searle, CEO, commented "Saft has made a good start in 2006. The
negative impact of the previously announced decline in sales to the US Army
must not hide the good performance of the rest of the Specialty Battery
Group, and in particular the important civil lithium business. In the
Industrial Battery Group, growth continues in most segments, in line with
our expectations. Finally, RBS sales have recovered a little from the low
point seen in Q4 2005.
I can confirm that Safts full guidance for 2006, given at the time of
our 2005 results announcement, remains unchanged. The sales guidance of EUR
545m to EUR 555m based on the 2005 perimeter, approximates to EUR 540m to
EUR 550m based on the new 2006 perimeter."
About Saft
Saft (Euronext : Saft) is a world specialist in the design and
manufacture of high-tech batteries for industry. Saft batteries are used in
high performance applications such as industrial infrastructure and
processes, transportation, space and defence. Saft is the worlds leading
manufacturer of nickel-cadmium batteries for industrial applications and of
primary lithium batteries for a wide range of end markets. The group is
also the European leader for specialised advanced technologies for the
defence and space industries. With approximately 3,800 employees worldwide,
Saft is present in 18 countries. Its 18 manufacturing sites and extensive
sales network enable the group to serve its customers worldwide.
For more information, visit Saft at http://www.saftbatteries.com
Press and Investors Contacts:
Saft
Jill LEDGER, Corporate Communications and Investor Relations Director
Tel.: +33-1-49-93-17-77, jill.ledger@saftbatteries.com
FINANCIAL DYNAMICS
Elodie MARCHAND, Tel.: +33-1-47-03-68-17: elodie.marchand@fd.com
Jean-Benoit ROQUETTE, Tel: +33-1-47-03-68-12, jean-benoit.roquette@fd.com
Laurence DESMARAIS, Tel: +33-1-47-03-68-10, laurence.desmarais@fd.com
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 Safts
plans and objectives to differ materially from those expressed or implied
in the forward looking statements.
| |
|
|
 |
property for sale in paphos polis cyprus |
|
|
|
|
|
|
|
|
|
Locations
