BBA Aviation plc is headquartered in London and listed on the London Stock Exchange. BBA Aviation’s market leading businesses are focused on flight support services and the aviation aftermarket, primarily in the business and general aviation sector.

Our Flight Support businesses, Signature Flight Support and ASIG, provide specialist on-airport support services including refuelling and ground handling to the owners and operators of private, business, military and commercial aircraft. Flight Support has nearly 200 locations worldwide, covering geographies with large numbers of business jets and aircraft movements.


Our Aftermarket Services businesses, Dallas Airmotive, Premier Turbines, H+S Aviation, International Turbine Service, W. H. Barrett Turbine Engine Company, International Governor Services and Ontic are focused on the repair and overhaul of gas turbine engines and the manufacture and service of aerospace components, sub-systems and systems. Aftermarket Services has 20 locations worldwide, distributed to support customer requirements

http://www.bbaaviation.com/about-us/company-overview/what-we-do.aspx

BBA Aviation: Goldman Sachs cuts target price from 425p to 405p and keeps a buy recommendation.

Dividend Currency Exchange Rate

RNS


RNS Number : 1287G

BBA Aviation PLC

02 May 2014






Notice of dividend currency exchange rate - 2013 final dividend



2 May 2014



On 5 March 2014, BBA Aviation plc announced a final dividend of 11.00 cents per share for the year ended 31 December 2013.



Eligible shareholders will continue to receive their dividends in sterling, unless an election has been completed and registered with the Company's registrars. The deadline for the currency election in respect of the forthcoming dividend payment was 30 April 2014.



This announcement confirms that the currency exchange rate applicable for the 2013 final dividend for shareholders who have not made a currency election before the applicable deadline and who therefore continue to receive their dividend in sterling is:




Declared dividend



Exchange rate

Dividend to be paid for those receiving dividends in sterling


11.00 cents per share

0.591944

6.51138 pence per share




Subject to shareholders' approval at the Annual General Meeting on 7 May 2014, the final dividend will be paid on 23 May 2014 to shareholders who were on the register at the close of business on 11 April 2014.

Interim Management Statement

RNS


RNS Number : 4104G

BBA Aviation PLC

07 May 2014






7 May 2014



Interim Management Statement



In advance of its Annual General Meeting today, BBA Aviation plc, the leading global aviation support and aftermarket services provider, is issuing an Interim Management Statement for the period from 1 January to 6 May 2014.



For the four months to 30 April 2014, overall trading was in line with our expectations with Group revenue 1% higher than the prior year and up 2% on an organic basis (excluding the impact of exchange rates, fuel prices, acquisitions and disposals).



Revenue in Flight Support grew by 8% and by 6% on an organic basis. The signs of recovery in business and general aviation (B&GA) in North America continued with movements up 4% in the first quarter. Weakness continued in our other major markets with European B&GA movements flat and commercial movements down 2% in North America and Europe.



Against this background, Signature Flight Support performed well and in ASIG, whilst we are experiencing some pricing pressure, initiatives to drive improvement in operational and cost performance continue. Importantly, preparations for the commencement of operations in support of the new Terminal 2 at London Heathrow are progressing well. We continue to make strategic progress and during the period, Flight Support completed the previously announced acquisitions of Skytanking, the commercial fuel services provider in the US and the Jet Systems FBO at Westchester County Airport.



In Aftermarket Services revenues declined by 11% and by 6% on an organic basis, which excludes the impact for the disposal of APPH. Although engine overhaul activity remained somewhat subdued in the first quarter, more recently the increase in flying hours seen in the second half of 2013 is beginning to feed through into overhaul events. The previously announced phased rationalisation of ERO's US footprint is proceeding to plan, with savings expected to begin to accrue from mid-2014. Following completion of two major contracts at the end of 2013, Legacy Support is performing as anticipated and the adoption of licences signed in 2013 is proceeding ahead of plan. We have recently signed a new licence with Kidde for fire protection applications that, together with the Rolls-Royce Dart licence announced earlier this year continues the expansion of Legacy Support's product portfolio.



Engine Repair & Overhaul (ERO) has recently been awarded significant rotorcraft authorisations in North America and the Middle East. In support of this strategically important award, and building on its experience in Brazil and Singapore, ERO will be investing $43 million in authorisation fees, capex, tooling, engines and will be establishing its first engine overhaul facility in the Middle East. Total capital expenditure for the year is now expected to be around 2.0x depreciation and amortisation, supporting significant future growth in both divisions.



Trading cash flows have followed the usual seasonal pattern and the Group's balance sheet remains strong, supporting substantial investment capacity. To date approximately $23 million of shares have been acquired as part of the previously announced $125 million share re-purchase programme.



The Group has recently refinanced its bank facilities, signing a new 5-year $650 million multi-currency revolving credit facility and reducing to $200 million the remaining tranche B of the 2011 facility which has 2 years left to maturity, giving total bank facilities of $850 million. The new $650 million facility is provided by 11 relationship banks and was oversubscribed.



Commenting on the Interim Management Statement, Simon Pryce, BBA Aviation Group Chief Executive said:



"We have made a good start to the year. The recovery in our major market continues and we are dealing effectively with weaker European and commercial markets, with the Group performing to plan. We are successfully executing our growth strategy with the award of engine authorisations supporting a material investment in our strategically important rotorcraft service offering, as well as through the continued expansion of the Flight Support network. Our businesses are well positioned and we are therefore confident that 2014 will be another year of progress for BBA Aviation."

Half Yearly Report

http://www.moneyam.com/action/news/showArticle?id=4862653

Interim Management Statement

RNS


RNS Number : 2618X

BBA Aviation PLC

18 November 2014






18 November 2014



Interim Management Statement



BBA Aviation plc, the leading global aviation support and aftermarket services provider, is today issuing its Interim Management Statement for the period 1 July to 17 November 2014.

The financial information set out below relates to the four months to 24 October 2014, unless otherwise stated.



Overall Group trading was broadly in line with our expectations with Group revenue 5% higher than the prior year and up 5% on an organic basis (excluding the impact of exchange rates, fuel prices, acquisitions and disposals).



Revenue in Flight Support grew by 14% and by 8% on an organic basis. The market recovery in business and general aviation (B&GA) in North America has continued with movements up 4% year to date. B&GA movements in Europe are down 1% year to date and commercial movements remain weak with a decline of 2% in North America and flat in Europe.



Against this background, Signature Flight Support continues to perform strongly, well ahead of its primary market. ASIG's performance in the period was adversely impacted by the previously highlighted cost pressures primarily associated with the start-up of operations at London Heathrow's new Terminal 2, which we expect will begin to abate in 2015, and more recently at Singapore Changi International Airport. In addition, ASIG continues to experience pricing pressure in certain markets and was recently notified that it has lost the Terminal One Group Association, L.P. (TOGA) ground handling contract at
John F. Kennedy International Airport from early next year (the TOGA contract is expected to contribute approximately $36 million of revenue in 2014).



In Aftermarket Services revenue was flat, excluding the impact of the APPH disposal at the beginning of the year. In Engine Repair and Overhaul (ERO) the on-going footprint rationalisation is proceeding to plan with the ground breaking for the new engine repair and test facility in early October. We saw a modest improvement in volumes in the period, although activity, particularly on older mid-cabin engines, remains softer than anticipated. ERO also experienced some short-term throughput issues impacting margin as the reorganised facilities come up to speed. Although revenues are down in Legacy Support, which benefited from the completion of two significant contracts in the second half of 2013, it is performing better than anticipated and has successfully adopted the two licences signed earlier this year.



During the period, Signature Flight Support signed two agreements to extend its Signature SelectTM network; one with SkyserviceTM for its three locations in Toronto, Calgary and Montreal, and one with Menzies Aviation in Barcelona, marking Signature's first Signature SelectTM in Europe and Signature's first foothold in Spain. This extension of the Signature network is in addition to the previously announced acquisition of Wiggins Airways FBO at Manchester-Boston Regional Airport in October. In September, Legacy Support signed two new licences with Curtiss-Wright for electro-mechanical, hydraulic and pneumatic valves and actuators. Legacy Support has now signed 8 new licences over the last 12 months.



Total capital expenditure for the year is expected to be around 2x depreciation and amortisation, including Signature's large development projects at London Luton, which is due to become operational in early 2017, and at San Jose, which is due to be completed by the end of 2015.



Trading cash flows have followed the usual seasonal pattern and the Group's balance sheet remains strong. The $125 million share re-purchase programme is ongoing and to date approximately $63.5 million of shares have been repurchased.



ERO's Dallas Airmotive business is cooperating with the U.S. Department of Justice (DOJ) in an investigation relating to payments in South America by agents and employees of the business from 2008-2012. Dallas Airmotive is engaged in settlement discussions with the DOJ. The Company expects to take an exceptional charge of approximately $15 million in the fourth quarter of 2014 related to this matter.



During the period, the Group also agreed a settlement with the IRS in relation to the 2006 to 2010 tax years resulting in a cash inflow and exceptional gain of $20.6 million.



Commenting on the Interim Management Statement, Simon Pryce, BBA Aviation Group Chief Executive said:



"BBA Aviation's Flight Support division is now realising the benefits of the significant investments made in Signature in recent years as B&GA movements in North America continue to recover, although this has been partly offset by ASIG's growth costs which will abate in 2015. The recovery in B&GA movements is taking longer than anticipated to have a meaningful impact on engine repair and overhaul volumes in our Aftermarket Services division, which is also experiencing some short-term throughput inefficiency associated with the footprint rationalisation programme. This is being partly offset by a stronger than expected performance in Legacy.



Ethical and legal compliance are core values of this Group and any breach of our high standards of conduct are taken extremely seriously. We continually look for ways to strengthen our compliance and control programmes to ensure we uphold these standards, which are fundamental to the way we operate.



Despite the softness of ERO's market and performance, we expect 2014 to be another year of absolute progress. Having already committed significant growth investment this year and with a good further pipeline for opportunities, we have good momentum going in to 2015."

25 Feb Societe... 420.00 Buy

Final results

Highlights



Markets: US B&GA continues to show good growth

· US business & general aviation movements up 4%

· European business & general aviation movements down 1%

· Commercial aviation movements down 2% in North America and up 3% in Europe



Flight Support (59% of Group OP): Strong performance driven by Signature

· Organic revenue growth of 8%; underlying operating profit increase of 14%

· Signature: continued delivery and market outperformance

· ASIG: outperforming key markets, overall performance impacted by start-up costs

· Outlook: further good growth driven by Signature with improvements in ASIG offsetting loss of JFK contract



Aftermarket Services (41% of Group OP): Good performance by Legacy offset by market challenges in ERO

· Organic revenue decline of 4%; underlying operating profit decline of 12%

· ERO: weaker than anticipated markets with footprint rationalisation on track

· Legacy: better than anticipated performance against a very strong prior year comparator

· Outlook: Legacy remains solid, ERO stabilised with overall benefits of footprint rationalisation offsetting on-going market weakness



Growth and value creation

· Flight Support expansion: eight new Signature FBOs and nine new Signature SelectTM locations

· Aftermarket Services portfolio growth: major rotorcraft authorisations awarded supporting expansion into new territories, Legacy Support licences successfully adopted

· Substantial 2014 investments progressing well and supporting future growth

· Continued strong pipeline of value creative opportunities

· The Board is pausing the share repurchase programme (which is 62% complete as at 4 March 2015)
//////////////////////////////////////////////////////////////////////////////////////////////////
Sharecast -

BBA Aviation gives positive outlook after mixed 2014, pauses share buyback

Wed, 04 March 2015



BBA Aviation gives positive outlook after mixed 2014, pauses share buyback

BBA Aviation broadly met expectations with its annual results on Wednesday with strong growth in its flight support division offsetting weakness in aftermarket services, as the company predicted further growth in 2015.
However, the company said it was pausing its share buyback programme, which is 62% complete, as it sees a "strong pipeline of value creative opportunities".

Group revenues were 3% higher in 2014 at $2.29bn. On an organic basis, which excludes currency, fuel, acquisitions and disposals, revenue increased by 3%.

Underlying pre-tax profit was up 1% at $172.4m, with underlying earnings per share rising by the same amount to 30.7 cents. The full-year dividend was lifted 5% to 16.20 cents per share.

The flight support division, which accounts for around three-fifths group earnings, saw underlying operating profit rise 14% as continued outperformance by its Signature business and general aviation unit was enough to make up for operational challenges and start-up costs in the ASIG ground handling business.

In the aftermarket division, underlying operating profits fell 12% as a better-than-expected performance in legacy support work was outweighed by "market pressures" in the engine repair and overhaul (ERO) side of things.

Looking ahead, the group said improvements in ASIG should offset the recent loss of a contract at JFK airport, while strong momentum is predicted for Signature. Meanwhile in aftermarket, the legacy support outlook remains solid while ERO has now stabilised.

"In addition, our overall performance will be supported by further incremental contributions from the substantial investments made across the group in recent years. The board therefore expects further good growth in 2015," BBA said.

The stock was up 0.3% at 343.9p by 15:30.

Very tenuous speculation on the FT about a possible t/o bid in the background......hence the recent rise.

Market Buzz
Barclays starts BBA Aviation at 'overweight'
Thu, 22 September 2016


BBA Aviation Quote
more

Price: 255.70
Chg: 8.30
Chg %: 3.35%
Date: 16:49

FTSE 250 Quote
Price: 17,987.77 Chg: 53.89 Chg %: 0.30% Date: 17:14
(ShareCast News) - BBA Aviation got a boost on Thursday as Barclays initiated coverage of the stock at 'overweight' with a 280p price target.
It said that operating in an attractive market with excellent market positioning, there are two potential areas for further share price upside.

The first is the Landmark acquisition, where integration is going to plan and cost synergies are marginally ahead of expectations.

Secondly, Barclays said that thanks to very strong cash generation, it sees scope for the group to deleverage quickly and expects BBA to review its target capital structure in 2017, allowing for incremental shareholder return potential over the medium term.

The bank said BBA's Signature Flight Support business is a unique asset, with leading share in an attractive market providing aviation services for the business and general aviation market.

"A decent long-term growth profile underpinned by both cyclical and structural factors is further strengthened by BBA's track record of growth ahead of the market, which we see as sustainable as the company begins to take advantage of network benefits from the Landmark acquisition."

Barclays said that on an earnings basis, BBA trades more or less in line with the FTSE 250 but looks more attractive on a dividend yield basis, and offers a growth profile that is ahead of the market.

At 0857 BST, BBA shares were up 3.3% to 255.50p.

BBA Aviation underlying operating profits rise
StockMarketWire.com
BBA Aviation reports a strong performance for the year to the end of December with underlying total operating profit up 63% at $330.1m.

Continuing group revenue increased by 25% to $2,149.1 million, including a $558.7 million contribution from acquisitions.

Continuing Flight Support revenue increased 55%, reflecting a good Signature result and the contribution of acquisitions of $545.9 million, including Landmark Aviation and the addition of four new FBOs in Italy, offset by the impact of lower fuel prices and foreign exchange movements that reduced Flight Support revenue by $68.3 million.

Aftermarket Services' revenue was down 10% driven by ERO. Continuing underlying Group operating profit was $302.6 million (2015: $181.5 million).

The group said there was an excellent performance in Flight Support as well as a $132.4 million contribution from acquisitions, of which $21.9 million related to cost synergies.

Aftermarket Services, now only 12% of continuing group underlying operating profit pre central costs, was down 30%; again due to ERO's weak performance.

Continuing group underlying operating profit margin increased to 14.1% (2015 constant fuel price: 11.0%) with a greater contribution from Signature partly offset by a lower margin in Aftermarket Services.

Underlying net interest increased by $32.1 million to $63.9 million (2015: $31.8 million) mostly due to the acquisition facilities drawn down on completion of the Landmark Aviation acquisition.

Net debt increased to $1,335.3 million (2015: net cash position of $456.5 million).

On a covenant basis, the net debt to EBITDA ratio increased to 3.1x (2015 historically adjusted for the results of the capital raise: 2.3x), and on a reported basis to 3.2x (2015 historically adjusted 2.3x).

Interest cover on a covenant basis decreased to 6.5x (2015: 8.5x), due to the increased interest on the drawn debt.

Underlying profit before tax increased to $238.7 million (2015: $149.7 million).

The group's underlying tax rate for continuing operations is 16.5% (2015: 13.9%).

Underlying profit before tax increased by 60% and the adjusted average number of shares increased by 308 million via the October 2015 capital raising; resulting in continuing underlying adjusted earnings per share (EPS) increasing by 8% to 19.4 cents (adjusted 2015: 18.0 cents).

Exceptional and other items after tax, for continuing and discontinued operations, totalled $316.0 million.

It said the key items of this were the previously reported impairment charge of $184.4 million in relation to ERO's assets due to its continuing challenging trading environment; and the impairment charge of $109.1 million following the write down of ASIG's assets in anticipation of its sale.

Further items which were all anticipated include:

- restructuring expenses of $9.9 million (2015: $15.1 million), mainly associated with ERO's ongoing footprint rationalisation programme;

- $24.9 million of integration costs related to the acquisition of Landmark Aviation

- $98.6 million of non-cash amortisation of acquired intangible assets (2015: $9.3 million), an increase resulting primarily from the acquisition of Landmark Aviation.

Continuing statutory loss before tax was $82.2 million compared with a $77.4 million profit for the prior year.

Chief executive Simon Pryce said: "2016 was a transformational year for BBA Aviation.

"Effective execution of our strategy and continued operational delivery has significantly repositioned the Group and materially enhanced its growth prospects and value creation potential.

"We completed the significant acquisition of Landmark Aviation, which materially expanded the Signature network, and made further investment in Ontic's IP protected licence portfolio.

"We executed the successful integration of 62 new FBOs into the Signature FBO network, delivering greater cost synergies more rapidly than originally anticipated.

"We also successfully sold six Landmark FBOs required by the US Department of Justice and ASIG, which completed in January 2017.

"This has all been achieved at the same time as delivering a strong underlying operational performance with excellent cash generation and deleveraging.

"As a result Signature comprises the majority of the Group and has a global network of over 200 FBOs that can meet more of the needs of our customers at most of the locations they want to fly to.

"This enhances and extends our opportunity for continued market outperformance. Ontic, which generates the majority of the Aftermarket operating profit, is a unique portfolio of IP protected licences enhanced by the business acquired from GE Aviation at the end of 2016.

"As we begin to adopt the GE products we are pleased with our initial findings.

"Ontic continues to see significant growth opportunities and has a strong pipeline and a good order book.

"Although ERO, continues to be impacted by reduced legacy mid-cabin fixed wing flying, our footprint reduction programme remains on track and should lead to further improved financial performance even at lower levels of activity.

"In summary, the Group is now focused on higher value-added, better IP protected, high ROIC and strongly cash generative businesses with enhanced prospects and the Board remains confident of good growth in 2017."

At 9:29am: (LON:BBA) BBA Aviation PLC share price was -8.55p at 296.45p


Story provided by StockMarketWire.com

2 Mar
Liberum Capital
325.00
Hold
2 Mar
JP Morgan...
347.00
Overweight
2 Mar
Barclays...
340.00
Overweight

Trading Statement
RNS
RNS Number : 3541W
BBA Aviation PLC
14 November 2017
 
14 November 2017
Trading update
BBA Aviation ("the Group"), a market-leading provider of global aviation support and aftermarket services, is pleased to announce a trading update for the period 1 January to 31 October 2017.
The Group's trading performance remains in line with expectations, with revenue up 10.2% year-on year for the ten months to October, reflecting good organic growth in Signature and the contribution from acquisitions.
In Flight Support, Signature revenues in the ten months to 31 October grew 14.2% and on a like-for-like basis (organic, constant currency, adjusting for higher fuel prices) were up 3.8%. US B&GA flight movements have grown 3.7% over the nine months to 30 September, with improved growth of 4.3% for the three months ended 30 September. Signature like-for-like revenue growth for the same three month period ended 30 September was 5.3%. The Signature outperformance during the three months ended 30 September in part reflects good progress with our commercial renegotiations for the enlarged network.
The recent hurricanes: Harvey, Irma and Maria, caused minimal impact overall across the Signature network and we were able to re-establish services quickly and provide support for the rescue and relief efforts.
Signature has recently signed a Signature Select licence agreement with Fly Across at Toluca International airport in Mexico, our first location in Mexico and the closest B&GA airport to Mexico City. This increases the Group's affiliate FBO programme, Signature Select, to 19 locations.
In Aftermarket Services, revenue in the ten months to 31 October grew 1.8% but on a like-for-like basis declined 2.8%.  Like-for-like revenue growth at Ontic was more than offset by declining revenues in ERO.  Ontic which generates the majority of the Aftermarket Services underlying operating profit has performed well with a good contribution from the GE licences acquired at the end of 2016 and continues to see a strong pipeline of future growth opportunities.
Wayne Edmunds, BBA Aviation Interim CEO commented "The Group has traded in line with expectations during the period. We are particularly pleased with Signature's performance since the half year, which in part reflects the positive customer response to our enlarged network proposition. The outlook for the full year remains unchanged."
 
Notes:
The Group will publish its preliminary results for the year ending 31 December 2017 on 1 March 2018.
 
Enquiries:
BBA Aviation plc
David Crook, Group Finance Director
Kate Moy, Head of Investor Relations and Communications
(020) 7514 3999
 
Tulchan Communications
David Allchurch
(020) 7353 4200
 
 
Information on BBA Aviation plc
 
BBA Aviation plc is a market leading, global aviation support and aftermarket services provider, primarily focused on servicing the Business and General Aviation (B&GA) market.  We support our customers through three principal businesses: Signature Flight Support and Signature TECHNICAirTM which provide premium, full service flight and home base support including refuelling, ground handling and MRO services through the world's largest fixed base operation (FBO) network for B&GA users with around 200 locations covering key destinations in North America, Europe, South America, Caribbean, Africa and Asia. Ontic is a leading provider of high-quality equipment and cost-effective solutions for the continuing support of maturing and legacy aerospace platforms with locations in the USA, Europe and Asia. Engine Repair & Overhaul/Global Engine Services is a leading independent engine service provider to global B&GA operators, the rotorcraft market and regional airline fleets with locations in the USA, Europe, South America, Asia and the Middle East. For more information, please visit www.bbaaviation.com 

11:40 08/01/2018
Broker Forecast - Citigroup issues a broker note on BBA Aviation PLC
Citigroup today upgrades its investment rating on BBA Aviation PLC (LON:BBA) to buy (from neutral) and raised its price target to 400p (from 330p). Story provided by StockMarketWire.com