Ricardo announced mixed results for full-year FY19. Revenues were up 2% to £384m, with flat CC/CS growth. We estimate that revenues declined slightly (flat to -1%) in H2, impacted by a collapse in Technical Consulting (TC), it ER&D unit.
We are now entering the season for Q1 earnings, and as always we will look into changes in major trends. The state of the automotive industry will be an area we will be closely monitoring.
Ricardo published its H1 FY19 results, which were in line with its trading update of January 2019. Ricardo’s revenues were GBP 188m, up 3.7% yoy and up 2% yoy at CC/CS. Its adjusted operating margin was 8.8%, slightly down, by 10 bps yoy.
British ER&D service vendor Ricardo has renewed and expanded its engine manufacturing contract with McLaren. The company will manufacture engines for McLaren’s Track 25 plan. McLaren is expanding its car portfolio and as part of Track 25, will design 18 new models or derivatives of existing models.
British ER&D service vendor Ricardo provided a “trading update” that suggested a soft performance in H1FY19, the period ending December 31, 2018.
British ER&D vendor Ricardo unveiled its “trading update” to provide some information about its financial performance in FY18 for its revenues, profitability, and bookings. Ricardo’s full-year FY18 revenues were above £380m, up 7.9% yoy, and up 5.1% yoy at
ERDservices is pleased to announce its ranking of the fastest-growing ER&D service vendors in CY 2017. Note that this ranking is based on reported numbers (and not on CC or CC/CS numbers). More about the methodology below the chart.
Ricardo surprised us by a very solid financial performance in H1 FY18 (ending December 30, 2017). Revenues were up 9.3% to £183m, and up 7% both at CS and CC/CS. Its Performance Product (small series manufacturing) was up 22%
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