Financial year ending March 31st
| Turnover (in million €) |
2003/2004 |
2002/2003 |
Variation % |
|
Second-quarter |
74.2 |
71.2 |
+ 5 % |
|
Rail Division |
60.6 |
58.7 |
+ 5 % |
|
Plastics Division |
13.5 |
12.5 |
- 8 % |
|
Consolidated turnover: 6 months |
144.8 |
140.4 |
+ 4 % |
|
Rail Division |
115.8 |
112.8 |
+ 3 % |
|
Plastics Division |
28.9 |
27.6 |
+5 % |
During the first half of the 2003/2004 financial year (the period from April 1st to September 30th), the Faiveley Group achieved a consolidated turnover of €144.8 million, up by 4%. Despite the postponement of rail projects from one budgetary period to the next and a less favourable economic environment in the plastics sector, the Rail Division expanded by 3% and the Plastics Division by 5%.
The Rail Division
The half yearly turnover totalled €115.8 million compared to €112.8 million the previous year, a growth of 3%.
Owing to the effects of projects being postponed, changes in business activity differed according to the various subsidiaries of the division. As the European and Hong Kong subsidiaries activity remained buoyant, this offset the limited downturn experienced by the subsidiaries in the United States, China and Brazil.
The Rail Division saw its portfolio rising thanks to anticipated major orders now coming to fruition.
The Plastics Division
With a turnover of €28.9 million, the division has seen a growth in sales of 5% compared to the first half year of 2002/03, chiefly due to the cosmetics activity. New contracts have been gained in the automotive sector. Despite this, the slackness which is becoming apparent in other sectors has had a negative economic effect on the level of business achieved by the division.
The investment and quality improvement programmes already underway are continuing and should have a measurable effect from the end of this financial year onwards.
The commercial outlook
The diversification of the group and its widely spread international presence have enabled it to offset local variations in activity.
At the end of September 2003, the group's order book stood at €365 million compared to €322 million on the same date a year earlier.
This order book does not yet take account of:
* a major order for platform screen doors for the Barcelona metro worth €55.4 million for the equipment and €34 million for maintenance for a duration of 15 years,
* an order for platform screen doors worth €5 million for the Guangzhou Metro in China,
* an initial order of €3 million for a new group product (half height platform screen doors) for MTRC Hong Kong, and
* in addition, two orders for onboard doors (TER and AGC) worth €24 million.
Regulated information
2003/2004 half yearly turnover: + 5% at €144.8 million. A healthy level of activity maintained.