9.11.2010: Revenues as of September 30, 2010



During third quarter 2010, CS Group revenues registered €43.6 million, down 8.6% compared to third quarter 2009, compared to the decrease of 12.3% registered in H1 2010 (vs H1 2009).

In France, third quarter 2010 revenues amounted €32.5 million, with 2.5% of sequential growth compared to second quarter 2010.Lire phonétiquement

During this quarter, the Group registered €27.9 million of new orders, down compared to third quarter 2009 (€48.9 million) but should be offset in third quarter 2010 in order to return at a book-to-bill ratio of 1 in 2010. 

Backlog at end-September 2010 represents 15.3 months of revenues.

tableau test

Revenues in € million1

Q3 2009

Q3 2010

Variation
Q3 10/Q3 09

09/30/09

09/30/10

Variation
09.30.10/09.30.09

Defense, Space & Security

26.1

19.6

9.2 %

71.2

61.4

-13.8 %

Aeronautics, Energy & Industry*

15.1

15.2

+0.7 %

49.3

49.4

+0.2 %

Transportation

8.1

6.8

-16.0 %

26.4

20.8

-21.2 %

Products*

2.7

2.3

-14.8 %

7.9

7.9

0.0

Eliminations & others

0.2

-0.3

NA

1.2

-0.9

NA

CS total

47.7

43.6

-8.6 %

156.0

138.6

-11.2 %

Of which France

34.5

32.5

- 5.6 %

113.5

100.9

-11.1 %

Of which International

13.2

11.1

-15.9 %

42.5

37.7

-11.3 %

1 Unaudited figures
*
2009 figures restated of the transfer of the Department of Virtual Reality from Aeronautics, Energy, Industry Activity to Products Activity since January 1, 2010


Defense, Space & Security 
Revenues and orders of this activity remain down, impacted by French State program downsizing and major clients’ decision-making shift. The return to growth should be confirmed during Q4 2010.
This quarter was marked by the commissioning of the first operational air operations center of CLA 2000 program in Mont de Marsan. In the Space sector, CS delivered to the CNES the operating version of the chain of Pleiades satellite programming, it stands for the future control centers with the implementation of ISIS prototyping and continues its development in ESA. 

Aeronautics, Energy & Industry
This activity recorded stable revenues and showed good sales momentum with 19.4% growth in orders compared to Q3 2009, notably in Canada and Romania. The group continues to win new customers such as Liebherr Aerospace and increases its presence in existing customers.

Transportation 
During this quarter, the group had intense business activity including the ultimate submission of truck road charging system project. Moreover and in order to maintain and consolidate its technology leadership, CS signed a technology partnership agreement for the integration of free flow automatic vehicle detection and classification of vehicles in line with global requirements for market performance. 

Products
During this quarter, Diginext, a CS products subsidiary, continues its expansion abroad with the provision of tactical data link simulation tools (TACTX range) to the British joint testing center and the sale of Military GPS receptor (MilGPS) to the Netherlands Royal Navy and to the NAMSA (NATO Supply Agency). At the occasion of Euronaval exhibition, Diginext also announced the development of Stradivarius radar (beyond the horizon HF radar) which demonstrator should be installed in 2011. 


General overview of financial situation and results

As of September 30, 2010, the total number of employees was 2,092 versus 2,112 as of June 30, 2010. It has hired 174 new employees during the first nine months of 2010. The average occupation rate for billable employees amounted 81.4% (vs 80.5% as of end-September 2008). 

In view of Q3 2010 consolidated results, H2 2010 global outlook indicated on H1 results 2010 release published last August 31 remains unchanged.


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Barbara Goarant
Tel.: +33 (0)1 41 28 46 94

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Hugues Rougier
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