CONSOLIDATED TURNOVER FOR THE 1ST HALF 2024: +9.0% AT €79.1M
SOGECLAIR, supplier of innovative solutions with high added value for a safer and less-consuming mobility announces today its turnover for the 1st half 2024, ending on June 30 th, 2024. Non-significant exchange rate fluctuations for the period represent €0.0M compared with €+0.3M in 2023.
Turnover for H1 2024 is up by 9.0%, marking the 13th consecutive quarter of growth. As part of the ONE SOGECLAIR organization, we now present our turnover according to the location of our subsidiaries, rather than the location of our customers.
Business aviation (41% of turnover) grew by 12.5%, driven by North America (up 23.9%), thus overtaking Europe. Commercial aviation (36.6% of turnover) grew by 9.5%, with business in North America doubling to almost €3 million. Automotive (7.7% of turnover) jumped by 21.6%, defense (5.0% of turnover) by a strong 38.3%. Rail (5.9% of turnover) and space (2.1% of turnover) were down by 27.8% and 5.1% respectively.
During its meeting on July 16, 2024, the Board of Directors approved turnover for the first half of 2024.
For comparability with the first half 2023 turnover press release, turnover by customer location is as follows:
The French and European turnover by customers were stable, while the North American and Asia-Pacific markets were more buoyant. It is worth noting that it is the French and American sites that are benefiting from growth in the Asia-Pacific and European markets.
As forecast in the ONE SOGECLAIR plan, Solutions activities are sustaining growth, while Engineering is stable. The TOP 5 customers are the Airbus group with 22.9% of turnover (+1.2%), the Dassault group with 20.3% of turnover (+5.5%), Bombardier with 13.1% of turnover (-8.7%), General Dynamics with 7.3% of turnover (+160.7%) and Spirit Aerospace with 7.2% of turnover (+39.5%).
PERSPECTIVES
With 9% growth in the first half of the year, a geographical spread that strengthens the company's presence in the dynamic US market, and a well-diversified customer base, SOGECLAIR confirms its confidence in a year of sustained growth in 2024, reinforcing the progress made in implementing its ONE SOGECLAIR plan, which aims for €250 million in sales by 2030.
Next announcement: results for the 1st half 2024 turnover, on September 04, 2024, after closing of the Stock Market.