May 11, 2010: Q1 2010 Revenues (1)



During first quarter 2010, CS Group revenues reached €49.1 million, a level close to those registered in the last two quarters of 2009, down 11.8% compared to first quarter of 2008.

During this quarter, the Group registered €39.9 million of new orders, up 43% compared to first quarter 2009. Backlog at end-March 2010 represents 17 months of revenues.
 



tableau test

Revenues in € million

Q1 2009

Q1 2010

Variation
Q1 10 / Q1 09

Defense, Space & Security

26.1

22.6

-13.4%

Aeronautics, Energy & Industry

17.12

17.4

+1.7%

Transportation

9.1

6.5

-28.6%

Products

3.02

2.7

-10.0%

Eliminations & others

0.4

-0.1

NA

CS Total

55.7

49.1

-11.8%

Of which France

39.7

36.6

- 7.8%

Of which International

16.0

12.5

-21.9%

(1) Unaudited figures
(2) Since January 1, 2010, CS “Products BU” includes Virtual Reality Department figures;
2009 figures have been restated accordingly.


Defense, Space & Security
CS successfully passed significant acceptance test milestones of its major air defense programs and should start the deployment phase as soon as second half 2010. In the field of space systems, within the framework agreement signed earlier this year CS won its first contracts at ESA-ESOC and thanks to its experience gained in image-based intelligence, won the technical-operational design study of the future program GEODE 4D and the geophysical data overhaul for the French Hydrographic & Oceanographic Navy Service (SHOM).
 
Aeronautics, Energy & Industry 
The activity registered a moderate growth. The group has strengthened its business positions and has continued its development regarding the optimization of product innovation cycle for the benefit of its customers in France, Germany and Canada.
 
Transportation 
The revenues of this activity registered a 18.2% rebound compared to Q4 2009 level. During this quarter, the activity signed a contract for the implementation of a free-flow system on Port Mann Bridge/Highway 1, linking the Trans-Canada to downtown Vancouver. After the commissioning of free-flow systems on Dublin ring road (M50) in 2008 and the Golden Ears Bridge in Vancouver in 2009, CS confirms its technological leadership with an innovative solution for end-to-end toll collection and violation enforcement.
 
Products
The Products business unit deploys its offering in the field of military training, an issue for efficiency and cost optimization, combining its operational command and control center simulation tools and its tactical data links solutions. Symulzub, the project for military training in urban areas for the Army won earlier this year, is one illustration.
 
 
General description of the financial position and results

The total number of employees as of March 31, 2010 was 2,235 against 2,203 as of December 31, 2009. The average occupation rate for billable employees was 82.3% (vs. 80.7% at end-March 2009 and 81.1% on average in fiscal 2009).
 
In an environment that remains tense, the group remains confident in its ability to get back to revenues growth by the end of 2010, thanks to strong market positions and value-added offers. It continues its efforts to improve its operating margin with the strengthening of project management and the drastic management of expenses.
 
The Shareholders’ Meeting will be held on June 25, 2010 at 10:00 a.m., at the Group’s headquarters at 22, avenue Galilée – 92350 Le Plessis Robinson.
 

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

Investor relations
Hugues Rougier
Tel.: +33 (0)1 41 28 44 44