Zodiac Aerospace delivers a strong growth of its sales revenue for 2011/2012

Plaisir, September 18, 2012 – Zodiac Aerospace reports another excellent fiscal year of sustained growth. Its sales revenue grew by 25% to end the 2011/2012 fiscal year (September to August) at EUR3,438 million. At like-for-like consolidation scope and exchange rate, growth for the year was 14.3%, compared with the stated annual growth target of ‘more than 10%’. External growth¹ contributed 6.5 points to revenue growth, whilst the impact of currency exchange rates was positive at 4.2 points. Excluding Rail and Airbags, the Group’s Aerospace activities grew by 16.6% on the basis of like-for-like consolidation scope and exchange rate.

Cabin Interiors

The Cabin Interiors segment reported strong revenue growth of 31% to end the full fiscal year at EUR2,115.4 million. Excluding consolidation scope effects1, this segment reported annual growth of 14.9% at like-for-like exchange rate. This improvement reflects significant progress in the Seats division, where Q4 growth remained consistent with that seen in the first 9 months of the fiscal year, and good performances from the Galleys division in Europe. External growth contributed 11.1 points to annual revenue growth.

AeroSafety & Technology

With total 2011/2012 sales revenue of EUR644.6 million, the AeroSafety & Technology segment reported revenue growth of 12.8% in terms of published data and 9.3% on the basis of organic growth (at like-for-like exchange rate). As in preceding quarters, this segment benefited from growth in Emergency Evacuation Systems and Electrical Interconnect Systems, with good sales progress reported by Emergency Arresting Systems in the second half of the year.

Aircraft Systems

The Aircraft Systems segment reported strong annual revenue growth of 20.4% to end the year at EUR678 million. At like-for-like consolidation scope and exchange rate, revenue growth for the year was 17.7%. All Aircraft Systems divisions remained well positioned in both the original equipment and after-sales markets.

Highlights of the quarter

The Zodiac Aerospace Group completed the process of setting up its exchange rate hedges during Quarter 4. Net EUR/$ transaction exposure budgeted for the 2012/2013 fiscal year is now around 45% hedged at an average rate of 1,26 EUR/$.

Outlook

On the basis of an annual sales revenue total that exceeded Group forecasts (organic growth of 14.3%, rather than the stated ‘more than 10%’), current operating margin for the year is expected to be 14%.

The Net Financial Debt/EBITDA ratio should be better than the target of 1.6.

The Zodiac Aerospace Group will publish its annual results and provide its FY 2012/2013 guidance on November 21.