Sukhoi reveals IPO plans
Offering Russian aircraft manufacturer Sukhoi is planning an initial public offering (IPO) in 2010, according to deputy director general Maksim Grishanin. Meanwhile, Russian bank Vnesheconombank is considering taking a stake of around 10% in the company, as part of a plan to set up a state development corporation based around the bank. Vnesheconombank and Deutsche Bank have already signed an agreement to provide £16.9 million ($33 million) in financing for Sukhoi's Superjet 100 programme.
R-R achieves record orderbook
Earnings Rolls-Royce is looking ahead to a continuing strong performance in civil orders, after achieving a record backlog of £20 billion ($39 billion), with £7 billion in new orders in 2006. Underlying profit before finance costs increased 14% in 2006, to £519 million ($1 billion) from £454 million in 2005, while sales were up at £3.77 billion from £3.56 billion. During the year civil engine deliveries edged down by 3% to 856 as a result of weak demand in the regional sector. This was partially offset by increased Trent engine deliveries, however, and underlying original equipment revenues grew by 15%. Underlying services revenues, which represent 59% of civil aerospace revenues, also increased 15%.
GECI boosted despite A380 delays
Turnover French aerospace and general aviation manufacturer GECI has overcome delays on Airbus programmes to post a slight increase in turnover for the first half. The company's first half turnover edged up from €16.2 million ($21 million) in 2005-6 to €17.3 million in 2006-7 (see graph), but it posted higher direct costs - up from €11.6 million to €14.4 million - because of A380 and A350 programme delays at Airbus. The group says it has been forced to "finance extra work needed to meet the objectives of the A380 and A400M programmes".
Rannoch renames itself Era
ReBranding US-based technology firm Rannoch has taken on the name of Era, the European technology company it acquired in October. The company says the renaming follows a series of strategic acquisitions, including the purchase of BAE's noise monitoring specialist TAMIS at the end of last year. Chief executive Dave Ellison says the move gives the company a "singular identity" which it will take into the "new era of surveillance - in other words".
B/E forecasts growth on widebody orders
Results B/E Aerospace is forecasting growth for the next three years after posting strong 2006 results. The cabin interior company's continued growth will not only build on a burgeoning retrofit market, but also benefit from a recent boom in widebody orders, according to chairman and chief executive Amin Khoury. The company turned in an $85.6 million net income for 2006.
Full year loss fails to dampen Spirit
Growth Spirit Aerosystems is forecasting around a 25% increase in revenue to as much as $4.1 billion in 2007, despite a negative impact on its fourth quarter and full-year earnings for 2006 because of costs associated with its November initial public offering. The Wichita, Kansas-based manufacturer posted a $72 million pre-tax loss for the year as a whole on revenues of $3.2 billion.
Source: Flight International