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

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