ZODIAC AEROSPACE - ANNUAL REPORT 2013-2014 "TRAVEL JOURNAL" [96]

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Another YEAR of ORGANIC GROWTH

Once again the Group posted revenue growth, with a substantial contribution coming from Zodiac Aircraft Systems. Net income was down slightly over the previous year due to unfavorable exchange rates and the temporary operational difficulties encountered by Zodiac Seats and Zodiac Galleys & Equipment. The Group's financial structure remains very solid with a debt-to-EBITDA ratio of 1.42 (before the purchase of Greenpoint Technologies).
In March 2014, the lending banks renewed their confidence in the Group by contributing more than €1 billion to a new “club deal”, which extends the maturity of our debt.
As a result of the above, Zodiac Aerospace has every confidence in the next phase of its external and internal growth.

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Jean-Jacques Jegou

Executive Vice-President, Administration and Finance

€4.2 billion in consolidated revenue

€567.3 million in current operating income*

€354.4 million in reported net income

13,6% operational margin*

€1,35 in net earnings per share*

*Excluding the effect of IFRS 3

96 TRAVEL JOURNAL 2013/2014