First half-year revenue stable and up by 3.6% in the second quarter
Paris, 27 July 2016 – Saft, leader in the design, development and manufacture of advanced batteries for industry, announces its sales and earnings for the six-month period ended 30 June 2016.
H1 2016 key figures
Ghislain Lescuyer, Chairman of the Management Board, commented:
″Group sales increased by 3.6% during the second quarter. This growth was mainly driven by civil and military aviation, telecom and civil electronics. In a worldwide macroeconomic context which continues to be difficult, this increase in sales also translates into improved operational performance in each of the three divisions: Civil Electronics, Space & Defense, and Transportation, Telecom & Grid.
As anticipated, Industrial Standby division sales stabilized in the second quarter. However, this division continues to be affected by the slowdown of investments in the oil sector.
Furthermore, we are rolling-out Power 2020 as planned, and expect the first operational benefits in the second half year. We are implementing a development approach that is even closer to our customers, reinforcing our industrial efficiency, particularly in the lithium-ion plants, and have completed the reorganization of the Group.
Total's friendly bid has been successful with 90.14% of our shareholders tendering their shares to the offer which is re-opened until August 2nd. We are convinced that Total Group's backing will enable Saft to strengthen its position and to accelerate its development.”
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