Saft announced an increase of 12.4% in sales during the first half of the year (H1), driven by sales amounting to 370.8 million ($410.6 million). Compared to the first half of 2014, the EBITDA during H1 2015 was $63.7 million, an increase of 17.1% compared to H1 2014. An increase of $10.3 million was also seen in the net income for H1 2015 compared to H1 2014.
Ghislain Lescuyer, chairman of the management board, stated that he is satisfied with the sales performances despite challenging comparables in several market segments. By this he meant the lower sales of lithium-ion batteries for both the telecom and ESS (energy storage systems) segments.
Despite having a sales growth of 6.3% at constant exchange rates during the first quarter of this year, the industrial battery group (IBG), saw sales falling 12.2% in the second quarter of 2015 compared to the same quarter last year. This sales reduction in this segment was mainly due to a 14% fall in battery sales for stationary back-up power and ESS applications. The battery sales for ESS in the first half of 2015 fell stronger than anticipated at the beginning of the year.
The company saw good performances in the transportation markets and specialty battery group (SBG). The SBG group comprises of sales to the civil electronics market and space and defence.
Given the performance in H1 2015, the company has confirmed annual guidance of sales growth of over 5% at constant exchange rates and an EBITDA margin of at least 15.8% They expect IBG revenue to return to growth during the second half of this year with strong sales in the stationary battery segment. Saft expects its Evolion lithium-ion batteries to drive the sales.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: firstname.lastname@example.org.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.