FFP_REGISTRATION_DOCUMENT_2017

GROUP PRESENTATION Portfolio presentation

1

www.zodiacaerospace.com

BUSINESS

OWNERSHIP STRUCTURE (31/12/2017)

Zodiac Aerospace was founded at the end of the 19th century, and originally specialised in inflatable products, particularly balloons and then boats. The aerospace equipment business became increasingly important through the 1970s, and in 2007 became Zodiac Aerospace’s sole business. The group is now a world leader in a number of products, including evacuation and arresting systems, aircraft seats and cabin equipment. Revenue in the 2016/2017 financial year fell 1.6% on a reported basis and by 2.0% at constant scope and exchange rates. There was no scope effect and exchange rates boosted revenue growth by 0.4 points. Recurring operating margin came in at 4.2%, down from 5.2% in the previous financial year. Recurring operating income was affected by additional costs incurred in the Aircraft Interiors business, to improve delivery performance for customers. That negative impact was partly offset by the contribution from the Aerosystems business. In early 2017, Zodiac Aerospace and Safran entered exclusive talks with a view to a business combination. In May 2017, they announced the terms of a transaction intended to create a leading French player in the global aerospace industry. FFP acquired a 5.4% stake in Zodiac Aerospace in 2006 and 2007. In the first quarter of 2010, FFP acquired another 0.54% of the company’s shares. The total amount invested was €152 million. In the third quarter of 2012, the FFP group (via its wholly owned FFP INVEST subsidiary) arranged hedging using derivative instruments, which expired on 14 March 2014 and resulted in a capital gain of €39 million. In September 2015, FFP INVEST acquired 3,352,000 additional shares in Zodiac Aerospace for €77 million, equal to 1.16% of the company’s capital. At 31 December 2017, FFP INVEST owned 5.2% of the group’s capital. The value of the shareholding, for the purposes of Net Asset Value and the consolidated financial statements, is based on the share price at 31 December 2017. FFP INVEST , represented by Frédéric Banzet, is a member of the Zodiac Aerospace Supervisory Board. FFP’S INVESTMENT

5.2% FFP INVEST

65.1%

Free float and other

25.3%

Family and employees*

4.4%

Treasury shares*

* Data at 31/08/2017

MAIN FIGURES

2015/16

2016/17

(in millions euros)

Revenue Change

5,209

5,127

6.0% -1.6%

Recurring operating income

270

218

Margin

5.2% 4.2%

Net profit attributable to equity holders of the parent

108

73

Net margin

2.1% 1.4%

0.32

0.32

Net dividend (€)

Equity

3,218 1,057

3,186

Net debt

847

17

FFP

2017 REGISTRATION DOCUMENT