Spanish Aerospace Group SENER Reports Falling Revenue

Spain's SENER Group, a supplier of electromechanical systems, communications intelligence, and modernisation services to the defence industry, reported falling sales in its 2018 financial results, released on 3 July. The company generated revenue of EUR589.2 million (USD663.4 million) in 2018, a fall of 22.3% on the previous year. Net profit was...

Spain's SENER Group, a supplier of electromechanical systems, communications intelligence, and modernisation services to the defence industry, reported falling sales in its 2018 financial results, released on 3 July.

The company generated revenue of EUR589.2 million (USD663.4 million) in 2018, a fall of 22.3% on the previous year. Net profit was down by an even greater margin, having fallen from EUR459.1 million to just EUR21.6 million last year. The company attributed its weaker revenue performance largely to the failure to replace significant contracts won by its energy business in 2015.

Although just 22% of SENER's sales were made in Spain, this was a marked increase from 2017's 6%.

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Source: www.janes.com