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Zodiac Aerospace SA (ZODC.PA)

ZODC.PA on Paris Stock Exchange

23.56EUR
26 May 2017
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Latest Key Developments (Source: Significant Developments)

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

Zodiac shares fall after company postpones results publication
Tuesday, 18 Apr 2017 03:06am EDT 

April 18 (Reuters) - Zodiac ::* Shares fall by around 2 pct.* Zodiac said on April 14 that it would postpone the publication of its half-year results by a week from April 20, citing an excessive workload due to merger discussions with engine maker Safran nL8N1HM1AQ.* Safran is also exploring plans to lower its $9 billion bid for Zodiac Aerospace and may simplify its structure amid continued turmoil at the seats maker and pressure from its own shareholders, a financial source said. nL8N1HM1I7.* Earlier in April, activist hedge fund TCI Fund Management called on Safran to set up an ad-hoc independent directors' committee to review the company's valuation of Zodiac Aerospace, according to a letter seen by Reuters. nL5N1HB4JP.  Full Article

PPLocal private shareholder lobby group says will oppose Safran/Zodiac deal
Thursday, 16 Mar 2017 04:00am EDT 

Safran /Zodiac : PPLocal is lobby group that acted on behalf of Solocal shareholders and it says in statement that it will also look to oppose Safran/Zodiac deal on behalf of private shareholders . Safran's planned $9 billion takeover of Zodiac has come under pressure after Zodiac issued a new profit warning this week [nL5N1GS3JC] . Hedge fund TCI has also renewed its calls for the deal to be scrapped Further company coverage: [SAF.PA] ((sudip.kargupta@thomsonreuters.com;)).  Full Article

Safran announces successful syndication of 4 billion euros acquisition bridge facility
Monday, 13 Mar 2017 03:50am EDT 

Safran : The syndication of the 4 billion euros bridge facility was successfully closed on March 6, 2017 . The facility, underwritten fully by Bank of America Merrill Lynch who also serves as bookrunner, was syndicated within a group of Safran's relationship banks. . The facility, supported by 12 banks as mandated lead arrangers, was oversubscribed by 70% . The bridge facility has a maturity of 12 months, with two 6-month extension options Further company coverage: [SAF.PA] ((sudip.kargupta@thomsonreuters.com;)).  Full Article

Zodiac Aerospace proposed dividend of 0.32 euro per share for FY approved
Friday, 20 Jan 2017 12:25pm EST 

Zodiac Aerospace : Shareholders approved proposed 0.32 euros ($0.34) per share dividend for 2015/2016 fiscal year and option payment of dividend in new shares . Issue price of new shares to be issued in consideration for dividend has been set at 20.02 euros .Payment date: February 14, 2017.  Full Article

Safran says Zodiac deal will not dilute focus on LEAP engine development
Thursday, 19 Jan 2017 02:30am EST 

Safran CEO Philippe Petitcolin : Says not worried about Zodiac Aerospace recovery from industrial problems . Safran CEO says Zodiac synergies will be much higher than the annual 200 million euros already identified . Safran ceo says LEAP engine development on track, will not divert any resources from this due to Zodiac merger Further company coverage: [SAF.PA][ZODC.PA] (Reporting By Tim Hepher) ((tim.hepher@thomsonreuters.com;)).  Full Article

Airbus says any loss on A380 would not have big group impact
Wednesday, 13 Jul 2016 12:37pm EDT 

Airbus chief Bregier: says may not break even on A380 at 12 deliveries a year, but can reduce fixed costs by reorganising teams . says profit or loss on A380 at 12 deliveries a year would not be material for airbus . says decided to put on hold A380neo version for some years, can't count on it to get additional orders for now . says may be able to lift production of a380 again in future as airport congestion grows . says expects will get U.S. export licences needed for sale of jets to Iran soon . says vast majority of suppliers are taking appropriate action to handle increases in production . says Zodiac Aerospace on right track on business class seats for A350, but not for lavatories . says more customers asking for earlier deliveries than asking for postponements . says would not make sense for now to produce more than 60 single aisle jets a month . says hopes Bombardier will no longer practise 'dumping' to win orders Further company coverage: [AIR.PA] (Reporting by Tim Hepher) ((Mark.R.Potter@thomsonreuters.com;)).  Full Article

Zodiac Aerospace says main family shareholders sign collective retention agreement
Wednesday, 22 Jun 2016 02:45am EDT 

Zodiac Aerospace SA : Main family shareholders of the Zodiac Aerospace Company have on June 20, completed and registered with the French Tax Authority a collective retention agreement . Collective retention agreement of main family shareholders to run for two years with possible renewal in 12-month periods .Shares subject to aforementioned agreement currently represent around 23 pct of capital and 34 pct of gross total voting rights.  Full Article

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Safran investor TCI says reduced offer for Zodiac still too high

LONDON UK hedge fund TCI said aero engine maker Safran's reduced offer for Zodiac Aerospace was still too high and it would vote against the deal.