DCNS profitable growth continues
DCNS performed very well during the first half of 2012. “Our growth was in line with our target to double Group revenue between 2010 and 2020. The outstanding commitment of all DCNS teams contributed to the further increase of our performance, once again in line with our targets. These achievements improve our competitiveness on our key markets while enabling us to invest in the future. Despite the current economic environment, this is all to our advantage as we strive for success,” said Patrick Boissier, Chairman & CEO of DCNS.
In the first half of 2012, orders intake reached €813 million, compared with €1.2 billion in the first half of 2011. Major H1 2012 orders included through-life support for the French Navy’s submarines and FREMM multi-mission frigates.
At end June 2012, DCNS’ order book was worth €14.2 billion, stable compared to end June 2011. This represents five years of revenue. This strong order book fuels the Group’s future growth.
Revenue increased to €1.4 billion, compared with €1.2 billion for the first half of last year, thanks to good progress on industrial programmes for the French Navy (Barracuda submarines, FREMM frigates and through-life support for front-line ships) and in Brazil, India and Russia.
For the first half of 2012, DCNS operating profit before impact of PPA increased to €98 million, or 7.0 per cent of revenue, compared with €85 million, or 6.9 per cent of revenue, for the same period last year. The Group is reaping the benefit of the transformation programme launched in 2010 as part of the championship strategic growth plan. This strong bottom line will enable DCNS to continue to invest in technological innovation, market development as well as industrial resources and skills.