IFRS standards, in millions of euros	30/09/2009	30/09/2008	r%
Sales volume	414.7	383.7	+8.1%
Operating profit	51.7	46.9	+10.2%
Operating margin (% of sales)	12.5%	12.2%
Net profit	32.6	30.2	+8.2%
Net profit group share	30.6	18.3
Net profit margin of group share (% CA)	7.4%	4.8%
Net earnings per share (in euros)	2.17	1.50	+45.1%

 

 

 

 

Faiveley Transport’s sales for the half year ending 30 September 2009 totalled €414.7 M, an increase of 8.1% over the same period in the previous year. With exchange rates and the scope of consolidation held constant, the increase was 6.0%. The change in scope accounted for 2.0% of the nominal growth and changes in exchange rates for 0.1%.

 

As of 30 September 2009, Faiveley Transport’s order book stood at €1,195 M, an increase of 4.9% over 31 March 2009 (€1,139 M), and 13.3% over September 2008 (€1,055 M).

 

 

 

	30/09/2009	31/03/2009
Air conditioning	18%	18%
Couplers	1%	2%
Customer Service	32%	31%
Electromechanical systems	3%	3%
Electronics	6%	6%
Brakes	23%	24%
On-board access doors	13%	12%
Platform Doors & Gates	4%	4%
Total sales volume	100%	100%

 

The changes observed are due mainly to contract planning.

 

 

 

Operating income came to €51.7 M, or 12.5% of total sales. This percentage is an increase compared to the figure of the previous year, thanks to good control of overheads. Operating income increased by 10.2% relative to 30 September 2008.

 

 

 

Taking into account the new shares issued in connection with the reorganisation of the Group’s shareholding at the end of December 2008, net earnings per share of the Group increased by 45.1% to €2.17, including an accretion effect of 29%.

 

 

 

Faiveley Transport expects its sales for the 2^nd half of 2009/2010 to be close to the level achieved in the same period of the previous year, which had increased by 24.5% over the preceding year (2007/2008). The Group should therefore record a new increase in its total sales for the 12 months of 2009/2010.

 

The world rail market remains strong, with numerous projects in all segments of the market and in all geographical regions. The strength of our sales teams and our innovative, flexible, multi-technology product line ensure that Faiveley Transport will be able to record steady sales growth in the medium term.