Sogeclair: consolidated turnover for the 1st half of 2025 : +1,9% at €80.6M

Core Insights - SOGECLAIR reported a consolidated turnover of €80.6 million for the first half of 2025, reflecting a growth of 1.9% compared to the same period in 2024, and 1.7% at constant exchange rates [1][2][19] Financial Performance - The turnover for Q2 2025 remained stable with a slight decrease of 0.7% at constant exchange rates and perimeter [2] - The Commercial Aviation sector accounted for 35.8% of turnover, stabilizing at a decrease of 0.5% compared to H1 2024 due to a lack of new program developments [3] - The Business Aviation sector, representing 34.1% of turnover, saw a decline of 2.6%, influenced by an uncertain political climate in North America and a challenging comparison to H1 2024, which had a growth of 12.5% [3] - The Defense market, contributing 14.2% of turnover, experienced significant growth of 36.7% in the first half [4] - The Automotive sector, making up 7.0% of turnover, declined by 7.8% due to a difficult market environment [4] - The Rail market, representing 5.7% of turnover, saw a slight decline of 1.0% [4] - Space turnover increased by 6.3%, accounting for 2.2% of total turnover [4] Geographical Performance - Turnover in France increased by 4.4% to €55.1 million, representing 68.4% of total turnover [7] - The European market (excluding France) grew significantly by 29.6% to €4.1 million, representing 5.1% of total turnover [7][9] - The Americas saw a decline of 6.9%, with turnover at €18.8 million, representing 23.4% of total turnover [7][9] - The Asia-Pacific region, contributing 3.0% of turnover, decreased by 13.0% to €2.4 million [7][10] Business Unit Analysis - The Engineering Business Unit generated €41.9 million, accounting for 52.0% of turnover, with a growth of 9.4% [11][12] - The Solutions Business Unit reported a turnover of €38.7 million, representing 48.0% of turnover, but declined by 5.2% [11][14] - The growth in the Engineering BU was driven by strong performance in the Defense sector (+42.9%) and Business Aviation (+7.6%) [12][13] - The Solutions BU faced challenges due to a high base effect from H1 2024 and a decline in production activities [14][15] Future Outlook - Despite geopolitical and economic challenges, SOGECLAIR anticipates continued profitable growth for the fifth consecutive year since the Covid crisis [19] - The company is implementing various action plans aimed at improving commercial and operational performance, with expected positive effects by the end of 2025 and into 2026 [19] - Ongoing digitization efforts will focus on enhancing sales activities and improving production efficiency [20]