The Nexter Systems Board of Directors met on this week to approve the Nexter Group consolidated financial statements for the 2009 fiscal year.
Orders received by the Nexter Group during the 2009 fiscal year totaled €1,286 million, compared with €560 million in 2008. This 130% increase is the result not only of excellent order levels from our French customer base, but also the strong growth seen in export sales, which totaled €193 million for the year. The increase has also been driven by the weapons systems range development policy, which has already resulted in initial orders for fifteen highly protected ARAVIS® vehicles, twenty 105 mm light canons and fifteen SH20 retractable mounts for helicopters.
Consolidated turnover for the Nexter Group totaled €887 million in 2009 (€579 million in 2008). This 53% growth in Group consolidated revenue reflects increased deliveries of Armored Infantry Combat Vehicles (VBCI in French) and Caesar® canons, as well as armed forces equipment operational readiness services.
For the fourth consecutive year, the Nexter Group is able to report consolidated operating profit in excess of 10% of revenue, thus confirming its ability to deliver stable and consistent profitability. Current operating profit (excluding completed contracts) was 12.5% in 2009.
This performance also reflects the degree of control exercised by the company over its contracts.
Consolidated net income for the Nexter Group was €141 million for the 2009 fiscal year. This income takes account of the high level of expenditure devoted to new product research and development (11% of consolidated revenue).
The Nexter Group order book of €2,508 million represents approximately 3 years of work.