FY 2016/2017 results: Strong performance in the second half
Plaisir, October 30, 2017 - The Supervisory Board of Zodiac Aerospace Group met on October 30, 2017 and approved the financial statements for fiscal year 2016/2017 (September to August).
Yann Delabrière, CEO, said, "The good performance achieved in the second half shows that the industrial recovery and transformation of Zodiac Aerospace Group are under way. With the commitment of all Group employees, this momentum will continue in order to reach a sustainable performance level, in terms of both customer satisfaction and finances. Zodiac Aerospace is confident about the next stages of its development."
Current Operating Income (COI) stands at €217.6m for the fiscal year, at the high end of the €200m-€220m target for 2016/2017.
Cash generation has improved sharply to €249m over the fiscal year. Net debt at end-August 2017 has fallen to €846.6m, vs. €1,056.9m at end-August 2016 and net debt to EBITDA stands at 2.28x.
Zodiac Aerospace reported a strong second half-year: COI is a gain of €229m after a loss of €11m in the first half while cash generation totaled €445m in the second half.
The Group's industrial recovery and transformation are under way. For the fiscal year 2017/2018, Zodiac Aerospace is expecting slightly lower sales, a sharp increase in COI and a cash generation which should remain strong.