9 MONTHS TURNOVER TO SEPTEMBER 30, 2024
+7.4% at €115.8M
Growth in 3rd quarter: turnover +4.1% at €36.7M
SOGECLAIR, supplier of innovative solutions with high added value for a safer and less-consuming mobility announces today its turnover over 9 months ending on September 30th, 2024.
Non-significant foreign exchange variations for the period represent 0.0M€ compared with -0.5M€ in 2023.
Turnover to September 30, 2024, were up 7.4%, for the 14th consecutive quarter, despite an unfavorable base effect, particularly in the Solutions division.
Since 2023, we have been presenting our turnover according to the location of our subsidiaries, rather than the location of our customers.
Business aviation (42.6% of turnover) grew by 19.4%, driven in particular by North America, up 31.3%. Europe was up 8.3%. Commercial aviation (34.9% of turnover) stabilized (up slightly by 1.8%), driven by activities in North America. Automotive (7.4% of turnover) was up 4.9%, while defense (5.2% of turnover) rose sharply by 31.9%. Rail (6.1% of turnover) was down 29.5%, while space (2.2% of turnover) was down 2.6%.
Our well-diversified markets and sectors are enabling us to sustain growth in a tense market environment, particularly in the commercial aviation and automotive sectors.
For comparability with the turnover press release for September 30, 2023, turnover by customer location are as follows:
It should be noted that it is the French and American sites that are benefiting from growth in the Asia-Pacific and European markets. The investments made in North America in recent years are bearing fruit, enabling the Group to maintain its turnover growth.
As expected, for the year as a whole, the Solutions activities drove turnover growth, buoyed by the Equipment business, while Engineering was stable. Note that Q3 turnover growth of 4.1% to €36.7m was equally distributed between the two Bus.
The TOP 5 customers are Airbus with 22.3% of turnover (stable at +0.6%), Dassault with 20.3% of turnover (up +7.0%), Bombardier with 13.0% of turnover (down -11.6%), Gulfstream with 7.9% of turnover (up very sharply +162.2%) and Spirit Aerosystems with 6.8% of turnover (up sharply +18.3%).
PERSPECTIVES
With growth of 7.4% to the end of September 2024, a balanced geographical spread, presence in a dynamic US market and good diversification of its markets and customers, SOGECLAIR, through its resilient model, confirms its confidence for a year of sustained growth in 2024, which reinforces the progress made in executing its 2030 plan, which targets €250 million in turnover.
