French aircraft equipment company Zodiac Aerospace has pushed back the publication of its interim results because of the extra workload created by an acquisition bid from high-technology group Safran.
Zodiac was scheduled to release its full figures for the period from Sept. 1, 2016 to Feb. 28, 2017 on April 20, but this has now been pushed back to April 28.
“This postponement is explained by an unusual workload linked to ongoing discussions with Safran as part of the merger project between Safran and Zodiac Aerospace announced on Jan. 19, 2017. An update on this project will be made at the time of the half-yearly results publication,” Safran said in a statement issued April 14.
Zodiac has already revealed that its first-half sales fell 1.8% to €2.4 billion ($2.6 billion) because of “continuing industrial disruptions” in its UK seating and cabin business, as well as “weak market conditions” for helicopters, business jets and regional aircraft. At the time, Safran said this new information would be taken into account as part of its takeover plans.
If the deal goes ahead, the combined companies would rank as the third largest aerospace company in the world, with around 92,000 employees, €21.2 billion in revenue and a €2.7 billion operating income. They will also rank as the second-largest aircraft equipment supplier, with revenues of around €10 billion.
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