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Results for the 2011/12 fiscal year

Zodiac Aerospace again reports very good results

PLAISIR CEDEX, FRANCE -- (Marketwire) -- 11/21/12 -- Zodiac Aerospace again reports very good results in 2011/12

--  Sales revenue increased by +25.8% to EUR3440.6m; +14.4% increase in
    organic revenue
--  Current operating income up 26.4% to EUR486.4m, i.e. profit margin of
    14.1%
--  Net income attributable to Group shareholders up +33.8% to EUR318.9m

Zodiac Aerospace continued its external-growth strategy through its acquisition of Heath Tecna and Contour during the fiscal year, and has just signed a LoI to acquire the US company IMS, which specializes in seat-centric in-flight entertainment (IFE) systems.

The net debt/EBITDA ratio is 1.45, an improvement on the targeted 1.6 thanks to a good cash flow generation and a well controlled working capital requirement (WCR). Net debt was EUR831.6m.

Long-term growth outlook remains favourable, buoyed by the increased of current and new programs production rates. For the 2012/13 fiscal year, Zodiac Aerospace aims to another year of organic growth.

Plaisir, on November 21(st), 2012 - The Supervisory Board of Zodiac Aerospace has approved the Group's accounts for the 2011/2012 fiscal year. Olivier Zarrouati, CEO said: "Once again, our Group reported very good results for the 2011/12 fiscal year. Our sales revenue and current operating income each rose by more than 25%, buoyed by our organic growth and acquisitions of Heath Tecna and Contour during the year. At the same time, we have continued investing to develop new products and to get sales successes, in particular in the area of cabin interiors. We are actively pursuing this strategy with the acquisition of IMS, a US company specialist in seat-centric which reinforces our in- flight entertainment systems".

Good performances in 2011/12
---------------------------------------------------------------------------
In millions of euros                          2011/2012  2010/2011 % Change
---------------------------------------------------------------------------
Sales revenue                                   3,440.6 2,734.8[1]   +25.8%
---------------------------------------------------------------------------
Current operating income before IFRS3 impact      487.6      386.5   +26.2%
---------------------------------------------------------------------------
COI before IFRS 3/ Sales revenue                  14.2%      14.0%
---------------------------------------------------------------------------
Current operating income:                         486.4      384.8   +26.4%
---------------------------------------------------------------------------
Current operating income /Sales revenue           14.1%      14.1%
---------------------------------------------------------------------------
Net income attributable to Group shareholders     318.9      238.3   +33.8%
---------------------------------------------------------------------------
EPS                                                5.89       4.45   +32.4%
---------------------------------------------------------------------------
EPS before IFRS 3                                  6.15       4.58   +34.3%
---------------------------------------------------------------------------
Net debt                                          831.6      585.4
---------------------------------------------------------------------------
Net Debt/EBITDA ratio[2]                           1.45        1.3
---------------------------------------------------------------------------
EUR/$ (Transaction)                                  1.32       1.35

EUR/$ (Conversion)                                   1.31       1.39
---------------------------------------------------------------------------

Zodiac Aerospace achieved strong growth in 2011/2012 fiscal year. The Group's sales revenue increased by 25.8% to EUR3,440.6m during the course of its 2011/12 fiscal year (September to August). At like-for-like consolidation scope and exchange rates[3], organic sales revenue rose by 14.4% compared with an announced annual growth target of "more than 10%". External growth accounted for 7.2 percentage points of the growth in activity, while net exchange rates represented 4.2 points for the period. Aeronautical activities (excluding Trains and Airbags) increased by 16.7% at like-for-like consolidation scope and exchange rates. Zodiac Aerospace continues to grow in a buoyant market: with 13.6% organic growth in the fourth quarter, the Group has achieved 10 consecutive quarters of positive organic growth and eight consecutive quarters of double-digit organic growth.

The Group's Current Operating Income (COI) was up 26.2% to EUR487.6m, compared with EUR386.5m in 2010/11 (excluding IFRS 3 impact). The Current Operating Income margin was 14.2%, compared with 14.1% in 2010/2011.

The Current Operating Income margin rose by 20.2% at like-for-like consolidation scope, and by 14.8% at like-for-like consolidation scope and exchange rates, excluding IFRS3 impact. Changes in scope of consolidation(4) contributed EUR23.1m to the year. There was a net foreign exchange rate gain of EUR21.0m. After applying the IFRS 3 accounting standard, the Current Operating Income operations amounted to EUR486.4m, compared with EUR384.8m in 2010/11.

The introduction of new social provisions in France had a 0.1 percentage- point impact on the operating margin for the 2011/12 fiscal year.

A good operating performance for the Group's three business segments

Cabin Interiors: another year of strong growth thanks to organic growth and Acquisitions

The Cabin Interiors Segment reported a strong rise of 32.4% in its sales revenue to EUR2117.8m for the entire fiscal year. At like-for-like consolidation scope and exchange rates, the Segment reported growth of +15.0%. Cabin Interiors' sales revenue was, in particular, boosted by the very strong sales of its Seats division, as well as good sales of Galleys activities in Europe. External growth accounted for 12.4 percentage points of the annual growth in sales revenue. It was mainly thanks to Heath Tecna, which specializes in integrated cabin interiors, and has been consolidated since September 1, 2011; and to the UK company Contour, which specializes in premium seats, and has been consolidated since February 29, 2012. Excluding IFRS3 impact, the Segment's Current Operating Income increased by 30.6% to EUR331m, compared with EUR253.8m in 2010/2011. At like- for-like consolidation scope and exchange rates, Cabin Interiors reported a rise in its Current Operating Income of 13.6%. The Segment continued investing to develop new designs in the areas of seats, IFE[4] or galleys equipment. Changes in scope of consolidation accounted for an increase of EUR24.0m in the Current Operating Income, excluding IFRS3 impact, while the net foreign exchange gains had a total positive impact of EUR19.1m.

Aircraft Systems: strong performance for the year

The Aircraft Systems Segment achieved excellent sales for the 2011/2012 fiscal year. It reported a strong growth in its sales revenue of 20.4% to EUR678.1m, and of 17.7% at like-for-like consolidation scope and exchange rates. All its activities achieved good performances, both in terms of OEM and after sales. Its Current Operating Income was up 13.5% to EUR85.4m. This growth was impacted by a negative net exchange rate impact of EUR1.6m.

AeroSafety & Technology: continued growth

The AeroSafety & Technology Segment made sales revenue of EUR644.8m in the 2011/2012 fiscal year, an increase of 12.8% based on published figures, and a rise of 9.3% in organic revenue. Following on from previous quarters, the segment benefited from growth in emergency evacuation and electrical interconnect activities, and, in the second quarter, from a good increase in sales of emergency arresting systems activities. Its Current Operating Income rose by 24.6% to EUR83.6m based on published figures, and by 19.2% at like-for- like consolidation scope and exchange rates. The Segment benefited from a net foreign exchange gain of EUR3.7m and organic growth of EUR12.9m.


A strong rise in net income and EPS

Net income attributable to Group shareholders rose sharply by 35.6% to EUR332.8m, excluding IFRS 3 impact (accounting impact of external growth expenses), and of +33.8% to EUR318.9m after IFRS 3.

Earning per share was EUR5.89, compared with EUR4.45 after IFRS 3 impact. Before restatement of this IFRS 3 impact, it rose by 34.3% to EUR6.15 per share, compared with EUR4.58 in 2010/2011.

Net financial expense was -EUR33.2m compared with -EUR34.4m. Restated to account for the impact of the amortization of setting-up expenses or those of the syndicated loan rider, it amounted to -EUR32.4m compared with -EUR29.1m, an increase of EUR3.3m generated by the increase in our needs after the acquisitions of Heath Tecna and Contour.

Non-current Operating Income for the year were -EUR11.5m compared with - EUR17.2m in 2010/2011. They mainly comprise of expenses linked to IFRS 3: - EUR15.7m of amortization of intangible assets (compared with -EUR5.7m in 2010/2011), and -EUR2.9m of acquisition costs linked to external growth, compared with - EUR3.1m in 2010/2011. Moreover, in accordance with the memorandum of agreement signed with the seller of Cantwell Cullen & Co, acquired in 2009/2010, a partial refund of the price has been accounted for this fiscal year for a gross amount of EUR5.1m.

Restructuring and reorganization expenses were down compared with 2010/2011: EUR- 0.4m compared with EUR-5.8m.

The income from activities sold was +EUR10.9m compared with +EUR0.6m in 2010/2011. It arises from the sales of the Issy les Moulineaux building and the Driessen Services business, which were finalized during the course of the first- half of the fiscal year.

The tax expense was -EUR134.4m compared with -EUR95.9m in the previous year, i.e. a rate of 30.4% compared with 28.8% for the previous year.

Debt under control

Net debt was EUR831.6m at the end of the 2011/2012 fiscal year, compared with EUR1,054m at the end of the first-half, and EUR585.4m at the end of the 2010/20121 fiscal year.

This change was mainly due to the acquisitions of Heath Tecna on September, 1(st) 2011, and of Contour Aerospace on January 19, 2012, for enterprise values of $114m and £274m respectively. Heath Tecna has been consolidated in the accounts since September 1, 2011, and Contour Aerospace was consolidated for the first time on February 29, 2012.

The Net debt/EBITDA ratio[5] at the end of August 2012 was 1.45 compared with 1.3 at the end of August 2011. This ratio is well below the "Club Deal" covenant of which the maximum ratio at 08/31/2012 was 3.25. The Net debt/equity ratio (gearing) was 42% compared with 38% at year-end 2010/2011, and 59.2% at end of first-half 2011/2012.

Despite the strong rise in sales revenue, the Working capital requirement (WCR)/sales revenue ratio was practically unchanged at 29.4% compared with 29.3% at end-August 2011 (29.9% at end-August 2012, restated for businesses acquired).

An increase in the dividend offered

The Supervisory Board will propose at the Shareholders' Meeting to be held on January 9, 2013, the distribution of a dividend of EUR1.40 per share, compared with EUR1.20 per share in respect of the 2010/2011 fiscal year.


STRATEGY: Strenghtening in Cabin interiors segment

Further sales successes

In the 2011/2012 fiscal year, the Zodiac Aerospace Group, once more, achieved commercial success, and continued developing major programs.

--  During the summer, Zodiac Aerospace signed the Water & Waste contract
    for the Chinese aircraft Comac C919. The other equipment for which the
    Group has been pre-selected are currently in the process of
    contractual finalization. Moreover, Zodiac Aerospace has recently been
    selected by Comac to supply the Galleys & Lavatories of the C919,
    as well as the cockpit door of the same aircraft.
--  As to the Russian commercial aircraft Irkut MC 21 programme, Zodiac
    Aerospace has, to date, signed the contracts for the primary electrical
    power distribution, the whole cabin, as well as contracts for fuel,
    fuel gauging and inerting, and crew oxygen.
--  In the area of seats, Zodiac Aerospace has continued its programs of
    cabin refurbishment and equipment for new planes, and has won new
    orders, thanks, notably, to its entirely updated range of seats which
    provide passengers with more comfort.

The Group has, moreover, continued to support the increased of the Boeing 787 Dreamliner programme production rate, which, in November 2012, achieved the production rate of five aircraft per month, and aims to produce 10 aircraft a month by end-2013.

Finally, Zodiac Aerospace had continued to develop equipment and systems which it supplies for the Airbus A350XWB, the first flight of which is scheduled in 2013. This development accounts for a substantial part of the intangible investments for the year, which amount to EUR71.6m compared with EUR50.5m in 2010/2011.

Creation of a joint venture company with Embraer

On May 30, Zodiac Aerospace and Embraer SA, Brazilian leader of regional planes, signed an agreement to set up a joint venture company which will be in charge of manufacturing cabin interior equipment for the family of EMBRAER 170/190 jet aircraft. The joint venture production unit will be located in Mexico. This new joint venture company consolidates a fruitful partnership that has existed for a long time between Zodiac Aerospace and Embraer.

Zodiac Aerospace continues its external growth strategy

During the year, Zodiac Aerospace made two acquisitions in the area of the cabin, which were both finalized in the first-half. First of all, Heath Tecna completes Zodiac Aerospace's expertise in the area of cabin interiors of commercial aircraft, and enables it to offer its customers a wider range of services, in particular in terms of cabin refurbishment (retrofit), an area in which it is a world leader. This purchase was finalized on September 1, 2011. Then, Contour Aerospace, consolidated in the accounts for the first time on February 29(th), 2012, is a UK leader of premium aircraft seats. This Business activity completes the offer of Zodiac Seats in the First class and Business class seats areas. .

Zodiac Aerospace is actively pursuing its external growth strategy. On November 15(th),2012 the Group signed a letter of intent in view of acquiring IMS, a US company that specializes in Seat Centric IFE systems. Subject to obtaining the regulatory authorisations and the signing of the final contract, this acquisition should be finalized before end-2012.

New organization of the Group

To be closer to its end markets, Zodiac Aerospace is implementing a new organization in the 2012/2013 fiscal year, the main effect of which is the splitting of the Cabins Interiors Segment into three parts: Zodiac Cabin & Structures (cabin equipment and integrated cabin, for aircraft manufacturers and airlines), Zodiac Seats (aircraft seats) and Zodiac Galleys & Equipment (galleys, galleys equipment, trolleys and other equipment).

In December 2012, Zodiac Aerospace will publish its Q1 sales revenue on the basis of this new five-segment organization (Zodiac Aircraft Systems, Zodiac Aerosafety, Zodiac Cabin & Structures, Zodiac Seats and Zodiac Galleys & Equipment).

Currency hedging

At 11/15/2012, the Group hedged around 60% of its estimated exposure in respect of the 2012/2013 fiscal year at the rate of 1.265.

Outlook

The background for the aeronautical industry is good over the long term, with an average increase in traffic of 5% a year average, and over the medium term thanks to the increase in the pace of deliveries concerning existing commercial aircraft programs and the rise in the production rates of new programs. In these conditions, Zodiac Aerospace expects organic growth, again, in the new fiscal year, on a high comparison basis.

---------------------------------------------------------------------------
Forthcoming      Q1 sales revenue                December 18, 2012 (after
events:          Shareholders' Meeting           closing)
                 Q2 and H1 sales revenue         January 9, 2013
                                                 28  March 2013

---------------------------------------------------------------------------


                                    Notes

                     Consolidated sales revenue by quarter


--------------------------------------------------------------------------
In millions of      1st quarter   2nd quarter   3rd quarter   4th quarter
euros              2011/2012       2011/2012       2011/2012    2011/2012
--------------------------------------------------------------------------
AeroSafety &        142.5           148.6           163.2           190.5
Technology

Aircraft Systems    156.8           168.0           176.5           176.8

Cabin Interiors     479.3           472.1           568.6           597.7

Group Total         778.6           788.7           908.3           965.0
--------------------------------------------------------------------------
EUR/$ conversion     1.37            1.31            1.31            1.24
--------------------------------------------------------------------------


------------------------------------------------------------------------
In millions of    1st quarter   2th quarter   3th quarter   4th quarter
euros             2010/2011       2010/2011     2010/2011     2010/2011
------------------------------------------------------------------------
AeroSafety &       134.9           134.8           139.9         162.0
Technology

Aircraft Systems   131.5           132.6           152.2         146.9

Cabin Interiors    373.6           395.1           418.9         412.4

Group Total        640.0           662.4           711.0         721.4
------------------------------------------------------------------------
EUR/$ conversion    1.35            1.34            1.43          1.43
------------------------------------------------------------------------


VARIANCES
(Quarter compared with the same quarter of the previous year)
---------------------------------------------------------------------------
 Based on published figures      Q1          Q2          Q3          Q4
                              2011/2012   2011/2012   2011/2012   2011/2012
---------------------------------------------------------------------------
 AeroSafety & Technology        +5.6%      +10.3%      +16.6%      +17.6%

 Aircraft Systems              +19.2%      +26.7%      +15.9%      +20.3%

 Cabin Interiors               +28.3%      +19.5%      +35.8%      +44.9%
---------------------------------------------------------------------------
 Group Total                   +21.7%      +19.1%      +27.8%      +33.8%
---------------------------------------------------------------------------


--------------------------------------------------------------------------
 Based on organic revenue      Q1          Q2          Q3          Q4
                            2011/2012   2011/2012   2011/2012   2011/2012
--------------------------------------------------------------------------
 AeroSafety & Technology      +6.7%       +9.2%      +11.7%       +9.3%

 Aircraft Systems            +21.9%      +26.6%      +12.0%      +12.3%

 Cabin Interiors             +19.8%      +11.8%      +13.0%      +15.8%
--------------------------------------------------------------------------
 Group Total                 +17.5%      +14.2%      +12.5%      +13.6%
--------------------------------------------------------------------------
 Aerospace activities*       +20.8%      +17.6%      +13.9%      +15.0%
--------------------------------------------------------------------------

Organic changes 2010/2011
--------------------------------------------------------------------------
 Based on organic revenue      Q1          Q2          Q3          Q4
                            2010/2011   2010/2011   2010/2011   2010/2011
--------------------------------------------------------------------------
 AeroSafety & Technology     +10.4%       +1.6%       -3.3%       +9.8%

 Aircraft Systems             +9.3%      +15.3%      +21.8%      +15.2%

 Cabin Interiors             +25.5%      +23.7%      +19.8%      +25.7%
--------------------------------------------------------------------------
 Group Total                 +18.3%      +16.6%      +14.8%      +19.5%
--------------------------------------------------------------------------
 Aerospace activities*       +16.8%      +14.9%      +14.0%      +19.7%
--------------------------------------------------------------------------
*Excluding Trains and Airbags businesses


                     Cumulative consolidated sales revenue

---------------------------------------------------------------------------
In millions of  1(st) quarter   1(st) half-year  9 months  2011/2012 fiscal
euros             2011/2012        2011/2012     2011/2012       year
---------------------------------------------------------------------------
AeroSafety &            142.5            291.1         454.3         644.8
Technology

Aircraft Systems        156.8            324.8         501.3         678.1

Cabin Interiors         479.3            951.4        1520.0        2117.8

Group Total             778.6            1567.3       2475.7        3440.6
---------------------------------------------------------------------------
EUR/$ conversion         1.37              1.34         1.33          1.32

EUR/$ transaction        1.36              1.34         1.33          1.31
---------------------------------------------------------------------------


---------------------------------------------------------------------------
In millions of  1(st) quarter   1(st) half-year  9 months  2010/2011 fiscal
euros             2010/2011        2010/2011     2010/2011       year
---------------------------------------------------------------------------
AeroSafety &        134.9            269.7         409.6         571.7
Technology

Aircraft Systems    131.5            264.1         416.3         563.2

Cabin Interiors     373.6            768.7        1,187.5       1,599.9

Group Total         640.0           1,302.4       2,013.5       2,734.8
---------------------------------------------------------------------------
EUR/$ conversion     1.35             1.35         1.37          1.39

EUR/$ transaction    1.29             1.30         1.31          1.35
---------------------------------------------------------------------------


VARIANCES
(Aggregate at end of period compared with the same period of last year)
--------------------------------------------------------------------------
Based on
published      1(st) quarter   1(st) half-year  9 months  2011/2012 fiscal
figures          2011/2012        2011/2012     2011/2012       year
--------------------------------------------------------------------------
AeroSafety &       +5.6%            +7.9%        +10.9%        +12.8%
Technology

Aircraft Systems  +19.2%           +23.0%       +20.4%        +20.4%

Cabin Interiors   +28.3%           +23.8%       +28.0%        +32.4%
--------------------------------------------------------------------------
Group Total       +21.7%           +20.3%       +23.0%        +25.8%
--------------------------------------------------------------------------


Based on organic    1st quarter   1st half-year  9 months  2011/2012 fiscal
revenue             2011/2012        2011/2012     2011/2012       year
---------------------------------------------------------------------------
AeroSafety       &    +6.7%            +8.0%         +9.3%         +9.3%
Technology

Aircraft Systems      +21.9%           +24.3%       +19.7%        +17.7%

Cabin Interiors       +19.8%           +15.8%       +14.8%        +15.0%
---------------------------------------------------------------------------
Group Total           +17.5%           +15.9%       +14.7%        +14.4%
---------------------------------------------------------------------------
Aerospace             +20.8%           +19.2%       +17.3%        +16.7%
activities*
---------------------------------------------------------------------------
                    *Excluding Trains and Airbags businesses


+--------------------------------------------------------------------------
----+
|                          Current Operating Income:
|
+-------------------------+---------------------+---------------------+----
----+
|In millions of euros     |2011/2012 fiscal year|2010/2011 fiscal year|%
Change|
+-------------------------+---------------------+---------------------+----
----+
|Aerosafety  &  Technology|                 83.6|                 67.1|
+24.6%|
|Segment                  |                     |                     |
|
|                         |                     |                     |
|
|Aircraft Systems Segment |                 85.4|                 75.2|
+13.5%|
|                         |                     |                     |
|
|Cabin Interiors Segment  |                330.3|                252.1|
+31.0%|
|                         |                     |                     |
|
|Holding                  |                -12.9|                 -9.6|
|
|                         |                     |                     |
|
|Group Total              |                486.4|                384.8|
+26.4%|
+-------------------------+---------------------+---------------------+----
----+


+-------------------------------------------------------------------------+
|                     Income statement                 2011/2012|2010/2011|
+-----------------------------------------------------+---------+---------+
|Sales revenue                                           3,440.6|  2,734.8|
+-----------------------------------------------------+-------------------+
|   Amortization expense                              |     70.1|     61.6|
+-----------------------------------------------------+---------+---------+
|   Charge to provisions                              |     13.4|     14.3|
+-----------------------------------------------------+-------------------+
|Current Operating Income                             |    486.4|    384.8|
+-----------------------------------------------------+---------+---------+
|Non-current Operating Income                         |    -11.5|    -17.2|
+-----------------------------------------------------+-------------------+
|Operating profit:                                    |    475.0|    367.6|
+-----------------------------------------------------+---------+---------+
|Cost of net debt                                     |    -30.7|    -32.4|
+-----------------------------------------------------+---------+---------+
|Other financial income and expenses                  |     -2.5|     -2.0|
+-----------------------------------------------------+-------------------+
|Tax expense                                          |    134.4|     95.9|
+-----------------------------------------------------+-------------------+
|Income from continuing operations                    |    307.4|    237.3|
+-----------------------------------------------------+---------+---------+
|Income from operations being discontinued            |     10.9|      0.6|
+-----------------------------------------------------+-------------------+
|Income from continuing operations and operations     |    318.3|    237.9|
|being didiscontinued                                 |         |         |
+-----------------------------------------------------+---------+---------+
|Net income attributable to Group shareholders        |     -0/6|     -0.4|
+-----------------------------------------------------+---------+---------+
|Net income attributable to Group shareholders        |    318.9|    238.3|
+-----------------------------------------------------+-------------------+

+-------------------------------------------------------------------------+
|                            Summary balance sheet                        |
|                                      |                                  |
|In millions of euros 08/31/12 08/31/11|                 08/31/12 08/31/11|
|                                      |                                  |
|Non-current assets    2,346.9  1,756.9|Equity            2,056.8  1,591.6|
|                                      |                                  |
|                                      |Provisions and                    |
|Current assets        1,504.0  1,142.0|deferred tax        265.7    219.0|
|                                      |                                  |
|Cash and equivalents    161.8    224.7|Financial debt      993.3    810.1|
|                                      |                                  |
|                                      |Other current                     |
|                                      |liabilities         698.4    519.8|
|                                      |                                  |
|                                      |Liabilities held for              |
|Assets held for sale      1.5     18.7|sale                           1.8|
|                                      |                                  |
|                      4,014.2  3,142.3|                  4,014.2  3,142.3|
+--------------------------------------+----------------------------------+

+-------------------------------------------------------------------------+
|                         Summary cash flow statement                     |
|                                                                         |
|In millions of euros                                  2011/2012 2010/2011|
|                                                                         |
|Operating activities                                                     |
|                                                                         |
|Cash flow from operations                                 427.5     346.4|
|                                                                         |
|Change in WCR                                            -127.3     -20.2|
|                                                                         |
|Cash flow from continuing operations                      300.2     326.2|
|                                                                         |
|Cash flow from operations being discontinued                          0.1|
|                                                                         |
|INVESTMENT OPERATIONS                                                    |
|                                                                         |
|Acquisition of intangible fixed assets                    -71.6     -50.5|
|                                                                         |
|Acquisition of tangible fixed assets                      -84.1     -58.5|
|                                                                         |
|Change in scope of consolidation:                        -405.0    -210.4|
|                                                                         |
|Cash flow from investments of continuing operations      -560.7    -319.4|
|                                                                         |
|Cash flow from investments of operations being             27.4      -0.1|
|discontinued and assets held for sale                                    |
|                                                                         |
|FINANCING OPERATIONS                                                     |
|                                                                         |
|Change in debt                                            182.1     134.0|
|                                                                         |
|Treasury stocks                                             2.3      -1.6|
|                                                                         |
|Increase in equity                                         15.0      11.3|
|                                                                         |
|Dividends                                                 -64.8     -53.4|
|                                                                         |
|Cash flow linked to financing of continuing operations    134.6      90.3|
|                                                                         |
|                                                                         |
|                                                                         |
|Translation adjustment on cash position at the start of    35.3     -30.4|
|the period                                                               |
|                                                                         |
|Change in cash position                                   -63.2      66.7|
+-------------------------------------------------------------------------+

The audit procedures on the consolidated financial statements are being finalized.

The audit report will be issued once the work has been completed of reviewing the notes to the financial statements.

[1] Restated to account for the disposal of Driessen Services


[2] EBITDA: Income as in the definition in the "Club Deal" credit agreement

[3] Changes in scope of consolidation: Inclusion of Sell for one extra month, Heath Tecna for 12 months and Contour for six months - Exclusion of: Driessen Services for 12 months

[4] IFE: "In Flight Entertainment"

[5] EBITDA: Income as in the definition in the "Club Deal" credit agreement

Download the press release in PDF:

http://hugin.info/143758/R/1659658/537329.pdf

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that:

(i) the releases contained herein are protected by copyright and other applicable laws; and

(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Zodiac Aerospace via Thomson Reuters ONE

[HUG#1659658]

ZODIAC AEROSPACE CONTACT
Pierre-Antony VASTRA
Tel: +33 (0)1 61 34 25 68
Email Contact
Valerie AUGER
Tel: +33 (0)1 61 34 22 71
Email Contact
61, rue Pierre Curie - CS20001 - 78373 PLAISIR
CEDEX

MEDIA - IMAGE 7 CONTACTS
Flore LARGER
Tel: +33(0) 1 53 70 74 92 /
Email Contact

Priscille RENEAUME
Tel: +33 (0) 1 53 70 74 61 /
Email Contact

CONTACT ANALYSTES - KEIMA
Communication
Emmanuel DOVERGNE
Tel: 01 56 43 44 63 /
Email Contact

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DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
IoT is rapidly changing the way enterprises are using data to improve business decision-making. In order to derive business value, organizations must unlock insights from the data gathered and then act on these. In their session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, and Peter Shashkin, Head of Development Department at EastBanc Technologies, discussed how one organization leveraged IoT, cloud technology and data analysis to improve customer experiences and effici...
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Successful digital transformation requires new organizational competencies and capabilities. Research tells us that the biggest impediment to successful transformation is human; consequently, the biggest enabler is a properly skilled and empowered workforce. In the digital age, new individual and collective competencies are required. In his session at 19th Cloud Expo, Bob Newhouse, CEO and founder of Agilitiv, drew together recent research and lessons learned from emerging and established compa...
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
"IoT is going to be a huge industry with a lot of value for end users, for industries, for consumers, for manufacturers. How can we use cloud to effectively manage IoT applications," stated Ian Khan, Innovation & Marketing Manager at Solgeniakhela, in this SYS-CON.tv interview at @ThingsExpo, held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...
Everyone knows that truly innovative companies learn as they go along, pushing boundaries in response to market changes and demands. What's more of a mystery is how to balance innovation on a fresh platform built from scratch with the legacy tech stack, product suite and customers that continue to serve as the business' foundation. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, discussed why and how ReadyTalk diverted from healthy revenue and mor...
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
Major trends and emerging technologies – from virtual reality and IoT, to Big Data and algorithms – are helping organizations innovate in the digital era. However, to create real business value, IT must think beyond the ‘what’ of digital transformation to the ‘how’ to harness emerging trends, innovation and disruption. Architecture is the key that underpins and ties all these efforts together. In the digital age, it’s important to invest in architecture, extend the enterprise footprint to the cl...
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Businesses and business units of all sizes can benefit from cloud computing, but many don't want the cost, performance and security concerns of public cloud nor the complexity of building their own private clouds. Today, some cloud vendors are using artificial intelligence (AI) to simplify cloud deployment and management. In his session at 20th Cloud Expo, Ajay Gulati, Co-founder and CEO of ZeroStack, will discuss how AI can simplify cloud operations. He will cover the following topics: why clou...
"Dice has been around for the last 20 years. We have been helping tech professionals find new jobs and career opportunities," explained Manish Dixit, VP of Product and Engineering at Dice, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform and how we integrate our thinking to solve complicated problems. In his session at 19th Cloud Expo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and sh...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...