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DCNS Reports Strong Revenue Growth 2013 - Operating profit down due to difficulties in civil nuclear energy -
DCNS Reports Strong Revenue Growth 2013


PRZOOM - /newswire/ - Paris, Ile de France, France, 2014/02/18 - Operating profit down due to difficulties in civil nuclear energy -

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Commenting on the results detailed below, Patrick Boissier, Chairman & CEO of the DCNS Group, said: “In 2013, our revenue increased 14%. In the four years since we launched our Group-wide championship strategy, revenue has risen 40%. Despite a strong performance in our core business, significant operational difficulties in civil nuclear energy prevented us from achieving the targeted increase in our operating profit in 2013. We are, however, more committed than ever to improving our overall performance in order to exploit our full potential of growth in international naval defence markets and the energy sector.”

Order intake in 2013 amounted to €2.3 billion, compared with €2.5 billion in 2012. The biggest order booked in 2013 was for the maintenance and modernisation of the frigates built under Saudi Arabia’s Sawari I programme. As of end-2013, the DCNS order book was worth €13.22 billion, compared with €14.46 billion a year earlier, and represented four years of revenue.

Revenue for 2013 amounted to €3.36 billion (compared with €2.93 billion in 2012) as work progressed on industrial programmes for France (FREMM frigates, Barracuda submarines, and through-life support for French Navy’s front-line ships) and international customers (notably Brazil, India, Malaysia and Morocco). Revenue growth was boosted by progress made ahead of planning on the construction of two BPC-type projection and command vessels for Russia.

In 2013, operating profit before impact of purchase price allocation amounted to €166 million, or 5.0% of revenue, compared with €209 million, or 7.1% of revenue, in 2012. These numbers are explained by the operational difficulties encountered by industrial programmes in civil nuclear energy. Organisational and industrial measures have been taken to increase profitability in this area from 2014. At the same time, DCNS ( is maintaining the increase of its R&D expenditures to meet the needs of client navies and confirm the company’s technological leadership.

As of end-2013, the number of full-time equivalent employees stood at 13,648, compared with 13,183 twelve months earlier. Of this total, 12,924 worked in France, compared with 12,828 as of end 2012.

2013 highlights (in chronological order)

- DCNS and Odebrecht celebrated the official inauguration of the Brazilian Navy’s submarine shipyard complex at Itaguaí in the presence of Dilma Rousseff, the President of the Federal Republic of Brazil.
- DCNS acquired a majority stake (59.7%) in and took control of Irish tidal energy start-up OpenHydro.
- DCNS set up a corporate university, DCNS Universeaty®, drawing on 1,500 in-house specialists.
- DCNS launched training courses for Malaysian specialists as part of an innovative partnership to supply the Royal Malaysian Navy with six Gowind® front-line corvettes.
- DCNS began sea trials of the FREMM multimission frigate for the Royal Moroccan Navy.
- DCNS and local partners delivered the sixth and last Skjold-class fast patrol boat to the Royal Norwegian Navy.
- DCNS and PIRIOU set up KERSHIP, a joint venture positioned as a future world leader in maritime security vessels.
- DCNS signs French Ministry of Defence’s SME Defence Pact.
- DCNS completes CVN Charles-de-Gaulle refit.
- DCNS signs contract for maintenance and modernisation of the frigates built under the Saudi Arabia’s Sawari I programme.
- DCNS signs ‘generation contract’ under French government initiative to promote employment for young people and seniors.
- DCNS signs contract with BAE Systems to supply high-performance equipment for the Royal Navy’s Astute-class nuclear-powered attack submarine programme.
- DCNS floats out FREMM frigate Provence.
- DCNS commits to contributing to the development of pilot tidal energy farms following a call for expressions of interest by the French government.
- DCNS articulates its values in line with its vision of the future. As the lead sponsor for the film En Solitaire, the Group promoted its values personified by the heroes.
- DCNS and STX France float out the first of two BPC-type projection and command vessels on order for the Russian Federation.
- DCNS begins sea trials of the FREMM multimission frigate Normandie.

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DCNS Reports Strong Revenue Growth 2013

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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any DCNS Group securities in any jurisdiction including any other companies listed or named in this release.

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