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

  • Group revenue stable in H1 2016 at €367.8 million (-0.4% at constant exchange rates compared to H1 2015), despite the impact of a slowdown of investments in the oil sector impacting the Industrial Standby division’s revenue (-15.5%)
  • Sustained revenue growth in the Civil Electronics (+3%), Space & Defense (+15.8%) and Transportation, Telecom & Grid (+3.6%) divisions in H1 2016, and improvement in EBITDA in these three divisions, notably benefiting from a stronger activity during the second quarter of 2016 (+3.6% at Group level)
  • EBITDA margin restated for non-recurring items related to Total's takeover bid (€7.9 million at EBITDA level), amounting to 14.3% in H1 2016 compared to 15.5% in H1 2015 and explained by lower volumes in the oil sector
  • Net profit of €3.5 million in H1 2016, compared to €30.1 million in H1 2015, affected by non-recurring items related to Total's takeover bid (€17.5 million at net profit level), by less favorable exchange effects and increased taxes


  • More than 90% shares acquired. Success of the friendly tender offer. Re-opening of the offer until August 2nd
  • 2016: year of transition which aims to reinforce the Group's medium-term profitable growth by implementing the Power 2020 plan
  • Medium-term objectives confirmed


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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