Plaisir, March 14, 2017 – Zodiac Aerospace reported sales of €2,445.3m for the first half of its fiscal year 2016/2017; -1.8% on a reported basis. Foreign exchange rates had a +0.8 point impact on growth rate in the period, offsetting part of the -2.6% organic decrease.
By branches Aerosystems was up 1% in H1 on a reported basis and flat excluding exchange rates while our Aircraft Interiors activities are down 3.7% reported and down 4.5% organic. Within this activity, Cabin branch and the Seats branch, are showing a similar organic change while the difference in reported variation is the consequence of different exchange rates exposure.
H1 sales down 2.6% organic vs. H1 FY15/16
H1 sales impacted by continuing industrial disruptions in seats UK and Cabin as well as weak market conditions for helicopters, business jets and regional
FOCUS plan on track with ongoing action plans targeting cost savings in H2 16/17
Challenging H1 will result in much stronger H1/H2 dissymmetry than last year
FY 16/17 COI should be around 10% below FY15/16
Current headwinds and remaining industrial issues in seats UK and cabin do not affect our ambition to return to historical profitability by FY2019/20