Nexter: New Products Underpin 2010 Growth
The Board of Directors of Nexter Systems met this past week to close the 2010 consolidated accounts of Nexter group.
Orders taken by Nexter group for the 2010 fiscal year totaled €601 Million, of which 45% export and 52% taken by the Group's munitions division.
2010 orders are the result of a complementary weapons systems/munitions industrial model as Nexter Munitions export sales retraced the path of Nexter Systems' own sales over the last 4 years.
The Group's consolidated turnover totaled €1076 Million over 2010 (€887 Million in 2009). The 20%+ growth in turnover reflects the Group's delivery performance (108 armored infantry combat vehicles and 78 Caesar artillery systems) and support services (multi-year performance-based support contracts for equipment in use by French and overseas armed forces).
For the 5th consecutive year, the consolidated operating margin of the Nexter group exceeded 10% of its turnover thanks to its solid and effective business model. The 2010 current operating margin was 12.5% after restatement of items strong to previous periods, a performance that is testimony to the Company's firm control over its contracts.
Net consolidated earnings for the Nexter group were €164 Million and take account of significant Research & Development spending (over 10% of consolidated turnover).
Nexter group's order book is worth €2032 Million and provides work for around 2½ years.