Cockerill Maintenance & Ingénierie

Cockerill Maintenance & Ingénierie

Press Relations

communication@cmigroupe.com

Key figures

CMI is today structured to grow in a  fluctuating economic environment. The four Sectors that underpin its activity have developed through the years. Operational synergies and the complementary nature of  the cycles have forged solidarity between these four elements, reinforcing the Group’s stability. Similarly, the sound geographic coverage of its entities has enabled it to elude the accumulating  economic turbulence. Against this background of rapid growth, CMI has endeavored to retain a light  structure, which is indispensable for seizing opportunities on the markets.

The data below has been published in accordance with IFRS (International Financial Reporting Standards) norms. The application of these recognized standards guarantees homogenous consolidation of the accounts of the Group across the whole of its scope. This also enables international comprehension of the Group’s performance.

Turnover

EUR Mios20082009201020112012
CMI Energy 338 548 000 268 457 000 135 197 000 169 430 000 165 541 000
CMI Defence 10 546 000 63 437 000 59 441 000 197 567 000 260 229 000
CMI Industry 285 554 000 256 625 000 201 800 000 181 905 000 208 417 000
CMI Services 192 578 000 146 254 000 165 499 000 161 764 000 158 602 000
Total 827 226 000 734 773 000 561 937 000 710 666 000 792 789 000

Making constant progress since 2010, CMI turnover amounts to 792.8 million Euros. CMI thus returns to a level of activity equivalent to that of before the 2008 crisis. Growth in 2012 is concentrated on the activities of CMI Defence, and to a lesser degree on those of CMI Industry. Continuing the growth trend will depend upon the level of orders taken during the first half of 2013.

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Order entries

EUR Mios20082009201020112012
CMI Energy 376 035 000 36 778 000 157 532 000 168 006 000 166 636 000
CMI Defence 3 831 000 276 446 000 308 891 000 60 636 000 34 081 000
CMI Industry 378 483 000 86 157 000 208 423 000 282 670 000 128 818 000
CMI Services 174 957 000 131 577 000 171 876 000 183 323 000 157 475 000
Total 933 306 000 530 958 000 846 722 000 694 635 000 487 010 000

Order entries in 2012 amount to 487 million Euros. Despite this relatively poor score, the Group order book is promising, with more than 50% of orders relating to products which were not in the Group portfolio on January 1st, 2008.

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Order entries: geographic distribution

 

On the geographical level, order intake in Europe remains relatively stable, decreases in the BRIC countries and the Middle East, and doubles in Africa, where the Group intends to develop in the future.

EUR Mios2009201020112012
RoW 37 612 000 (7%) 45 411 000 (5%) 11 782 000 (2%) 22 860 000 (5%)
Africa 8 731 000 (2%) 27 497 000 (3%) 20 535 000 (3%) 52 330 000 (10%)
Nafta 3 518 000 (1%) 38 264 000 (5%) 48 539 000 (7%) 22 740 000 (5%)
Middle East 274 621 000 (52%) 293 626 000 (35%) 148 348 000 (21%) 90 480 000 (19%)
BIC 66 689 000 (13%) 249 100 000 (29%) 201 950 000 (29%) 97 630 000 (20%)
Europe 139 786 000 (26%) 192 825 000 (23%) 263 478 000 (38%) 200 970 000 (41%)
Total 530 960 000 846 720 000 694 630 000 487 010 000

Operating result

EUR Mios20082009201020112012
Operating result 25,01 11,741 10,005 20,108 32,126

The operating result of CMI amounts to 32.1 million Euros, 60% up on 2011. Following ten years of positive results, this outstanding performance confirms the winning strategy pursued since the change in shareholding in 2002. This performance in 2012 has been principally driven by CMI Defence and CMI Energy.

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Cash-flow

EUR Mios20082009201020112012
Cash-flow 75,684 54,184 61,355 52,462 39,108

CMI closed the 2012 financial year with a net cash-flow position of 39.1 million Euros. This decrease compared to 2011 has to be seen in the light of an even more significant reduction in the use of short term financing to cover the Group’s working capital. With a constant growth in average profitability, CMI has gained the confidence of its financial partners, who have multiplied the granting of bank guarantees by a factor of six during the last ten years.

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Shareholders' equity

EUR Mios20082009201020112012
Shareholders's equity 122,694 119,699 123,244 72,075 88,586

At the end of 2012, CMI shareholders’ equity amounts to 88.6 million Euros, an increase of 23% compared to 2011. This increase largely comes from the positive results recorded in 2012, very slightly hindered by a negative currency exchange factor.

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Safety

CMI Group posted its best safety performance in 2012, with a level of frequency of 5.19 and a level of severity of 0.10. These results cover the entire scope of the Group including those of CMI FPE, its Indian subsidiary. Thanks to the policy pursued for several years, safety is today part and parcel of CMI Group’s organization and operating procedures.

 20082009201020112012
Level of Frequency (LF) 18,31 20,03 12,28 10,7 5,19
Level of Severity (TS) 0,78 0,44 0,36 0,43 0,10
  • Level of Frequency (LF): Frequency level of accidents causing stoppage. Accidents X 1 000 000 / hours worked
  • Level of Severity (LS): Severity level of accidents causing stoppage. Days lost X 1 000 / hours worked
 

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Workforce

Nb. employees20082009201020112012
CMI Energy 285 281 260 273 286
CMI Defence 65 82 105 145 175
CMI Industry 1154 973 957 1105 1178
CMI Services 1723 1692 1831 1706 1885
CMI Corporate 129 164 165 164 153
Total 3 356 3 192 3 318 3 393 3677

The men and women who work at CMI are the Group’s main asset. On 31 December 2012, the Group had 3 677 people under contract, up by 8.3% from the previous year. This growth is the result of an intensive recruitment drive, with 762 contracts of employment signed in 2012. It is noteworthy that the workforce of CMI Defence has grown for six consecutive years.

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Workforce: geographic distribution

Nb. employees20082009201020112012
Rest of the world 234 209 225 178 190
United States 228 166 184 184 177
Brazil 194 198 402 327 489
India 487 495 531 599 654
France 802 796 790 826 896
Belgium 1411 1306 1204 1279 1271
Total 3356 3170 3336 3393 3677

With 3 677 persons at the end of 2012, CMI is principally present in Europe (62%), in India (17.8%), in Brazil (13%) and in the United States (5%). This workforce is made up of 38% blue collar workers and 62% white collar workers. In 2012, CMI workforce particularly increased in Brazil (+50%), and also in India and France.

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