Edition:
United States

Zodiac Aerospace SA (ZODC.PA)

ZODC.PA on Paris Stock Exchange

23.85EUR
21 Jun 2017
Change (% chg)

€-0.05 (-0.23%)
Prev Close
€23.91
Open
€23.90
Day's High
€23.93
Day's Low
€23.85
Volume
337,739
Avg. Vol
878,392
52-wk High
€28.85
52-wk Low
€19.11

Latest Key Developments (Source: Significant Developments)

Safran buys helicopter flight data firm ISEI
Thursday, 22 Jun 2017 06:00am EDT 

June 22 (Reuters) - Safran ::* Safran Electronics & Defense has purchased the French company ISEI, specialized in flight data acquisition systems and associated services for helicopters and light airplanes.* Agreement for the sale was today at the Paris Air Show by Jean-Claude Marcellet, President of ISEI, and Martin Sion, Chief Executive Officer of Safran Electronics & Defense.* ISEI’s systems will be added to the Cassiopée product range from Safran Electronics & Defense, designed to enhance operational efficiency for airlines and other operators.* Financial terms not disclosed.  Full Article

French group Safran buys stake in Kalray
Thursday, 22 Jun 2017 04:11am EDT 

June 22 (Reuters) - Safran ::* Acquired an equity interest in Kalray through its Safran.* Safran Corporate Ventures is participating in a €23.6 million round of fresh funding alongside investors that have backed Kalray for many years, including CEA Investissement and ACE Management, in addition to a new Asian investor, the Pengpai investment fund.  Full Article

Safran signs new production contract for Strix sights on Tiger helicopter
Wednesday, 21 Jun 2017 06:30am EDT 

June 21 (Reuters) - Safran ::* Safran Electronics & Defense has signed a contract with the Organization for Joint Armament Cooperation (OCCAR) to supply 18 more Strix optronic sights for the Tiger helicopter program in France..* Latest tranche is part of France's revised 2014–19 defense spending plan, which calls for a homogenous fleet of 67 Tiger HAD (multi-role attack) helicopters.* Strix is a major part of the Tiger HAD’s weapon system and plays a crucial role in all missions, from reconnaissance to escort, protection, fire support and attack.  Full Article

Zodiac and Sichuan Haite announce strategic partnership for repairs in China
Monday, 19 Jun 2017 02:36am EDT 

June 19 (Reuters) - Zodiac ::* Zodiac Aerospace Services and Sichuan Haite High Tech announce a strategic partnership for repairs in China.* The two companies have signed a long-term agreement to combine their expertise and strengths to provide Chinese operators with a local repair service for toilets, evacuation slides, technical seats and Electrical Inserts.* Zodiac Aerospace Services will provide Sichuan Haite High Tech with intensive support, training and a reliable and continuous supply of spare parts to operate under the highest quality standards.  Full Article

Zodiac aerospace sales of 3,789.3 million euros for the first 9 months of 2016/2017
Wednesday, 14 Jun 2017 11:42am EDT 

June 14 (Reuters) - ZODIAC AEROSPACE ::REPORTED SALES OF EUR 3,789.3 M FOR THE FIRST 9 MONTHS OF ITS FISCAL YEAR 2016/2017; -1.4% ON A REPORTED BASIS.CONFIRMS GUIDANCE FOR FY 2016/2017 AND ITS LONG TERM OUTLOOK..Q3 SALES EUR 1.34 MILLION VERSUS EUR 1.35 MILLION YEAR AGO.  Full Article

Zodiac Aerospace announces signature of undertakings by family shareholders
Friday, 9 Jun 2017 01:00am EDT 

June 9 (Reuters) - ZODIAC AEROSPACE ::REG-ZODIAC AEROSPACE : SIGNATURE OF UNDERTAKINGS BY FAMILY SHAREHOLDERS.CERTAIN MEMBERS OF ZODIAC AEROSPACE FOUNDING FAMILY SHAREHOLDERS HAVE SIGNED TODAY UNDERTAKINGS TO LOCK AND TENDER THEIR SHARES TO SAFRAN'S TENDER OFFER.THIS BRINGS TO APPROXIMATELY 27% OF ZODIAC AEROSPACE'S CAPITAL TOTAL OF UNDERTAKING FROM REFERENCE SHAREHOLDERS TO SAFRAN PUBLIC OFFER.CERTAIN FAMILY SHAREHOLDERS OF ZODIAC AEROSPACE HOLDING LESS THAN 5% OF ZODIAC AEROSPACE'S CAPITAL HAVE ALSO SIGNED COMMITMENTS FOR RESIDUAL PARTICIPATION.CERTAIN FAMILY SHAREHOLDERS OF ZODIAC AEROSPACE HOLDING LESS THAN 5% OF ZODIAC AEROSPACE'S CAPITAL WILL BE ABLE TO REMAIN SHAREHOLDERS OF CO AT LATEST UNTIL JANUARY 2022.  Full Article

Zodiac Aerospace ‍supervisory board terminated position of Olivier Zarrouati as chairman of Executive Board​
Tuesday, 6 Jun 2017 02:40am EDT 

June 6 (Reuters) - ZODIAC AEROSPACE :‍SUPERVISORY BOARD TERMINATED POSITION OF OLIVIER ZARROUATI AS MEMBER AND CHAIRMAN OF EXECUTIVE BOARD​.‍SUPERVISORY BOARD DECIDED TO APPOINT YANN DELABRIÈRE AS MEMBER AND CHAIRMAN OF EXECUTIVE BOARD OF ZODIAC AEROSPACE, EFFECTIVE JUNE 16, 2017​.  Full Article

Safran to lower Zodiac offer to below 25 euros/share for Zodiac -La Tribune paper
Wednesday, 24 May 2017 05:54am EDT 

May 24 (Reuters) - Safran /Zodiac ::* Safran to lower offer for Zodiac to new offer of below 25 euros/share for Zodiac, French business paper La Tribune reports on its website.* Offer will be comprised of two thirds in cash and one third in shares, La Tribune reports.* Safran declines to comment on the report in La Tribune.  Full Article

Zodiac Aerospace announces continuation of discussions with Safran
Friday, 28 Apr 2017 01:00am EDT 

April 28 (Reuters) - Safran SA ::Continuation of discussions with Safran <<>> with a view to complete transaction.H1 profitability strongly impacted by additional costs of aircraft interiors branch and by an unfavorable mix in aerosystems branch.Anticipate a strong rebound of our profitability for H2 2016/2017.Seats UK has been through serious operational problems in ramp up of business seats programs, which have triggered unanticipated extra costs of around EUR 40-50 million ($43.5-54.3 million).Zodiac seats UK's difficulties should be curbed by December 2017.In seats UK difficulties encountered during H1 will lead to new extra costs in H2, especially penalties.Olivier Zarrouati accepted to remain CEO for a while, focusing on finalization of Safran deal, if Safran and Zodiac come to a renewed deal.  Full Article

Zodiac Aerospace H1 net result group share swings to EUR 24 mln loss
Friday, 28 Apr 2017 01:00am EDT 

April 28 (Reuters) - Zodiac Aerospace SA ::H1 2016/2017 sales slightly down 1.7 pct to EUR 2,447 million ($2.66 billion) and down 2.6% on a like-for-like basis.H1 2016/2017 current operating income loss of EUR 12 million, strongly impacted by aircraft interiors activities, as announced.H1 net loss group share EUR 24.0 million versus profit EUR 43.7 million year ago.Continuation of the action plans implementation and significant improvements expected in H2 16/17 to reach an estimated COI between EUR 200-220 million.Medium-term development potential unimpaired, under any scenario, with the aim of restoring a "mid double-digit" profitability by 2020.Net financial debt of EUR 1,325 million as of end of February 2017, resulting in a net debt to shareholders' equity ratio of 0.41.Compliance with covenants expected by end of August 2017 while financing is secured for the medium-term.  Full Article

More From Around the Web

Aerospace group Zodiac aims to resolve delivery issues by end-September -Chairman

PARIS, June 23 Zodiac Aerospace aims to have its problems with delays in deliveries and the quality of products fixed in September, before the planned merger with Safran, the chairman of its executive board Yann Delabrière told Les Echos newspaper.