Adjustment to the order book at March 31, 2017


Adjustment to the order book at March 31, 2017 and profit warning

Vincennes, June 14, 2017
A commercial negotiation which has just been finalized on a major on-going contract has led the Group to reduce the volume of services provided for in this contract by €36 million.
Factoring in this element, the Group has adjusted its order book amount at March 31 to €345 million[i][1] compared with €323 million1 at March 31, 2016.
The delay on leads for 2017 and a sharp contraction in its markets, led the Group during its first quarter revenue publication on May 16, 2017 to revise its revenue target range down to between €250 million and €290 million. The Group maintains this target.
This reduction in business volume has triggered a significant position of under capacity in certain Group facilities and in particular in the Romanian manufacturing facility.
Under these circumstances, and taking the above elements into account, the Group expects to post a current operating loss for 2017 of between -2.5% and -3.5% of its revenue.
Next press release: Q2 2017 revenue on August 7, 2017 after market close.

[1] o.w. €107 million in Gas Processing contracts in Venezuela, for which the Group does not anticipate any significant movement in 2017.