Upward revision of 2010 targets

Upward revision of 2010 targets

Infotel expects a turnover of € 110 M associated with 10% operating margin

Bagnolet, 16 September 2010

After publishing the excellent results of the first half of 2010 (press release and financial report available on www.infotel.com), Infotel defined its targets for 2010 and announced its incorporation in the CAC Small 90 and SBF 250 indexes.

First half 2010: Excellent performance in growth and profitability

Infotel had an excellent first half, with a rising turnover of 27.6%, € 54.7 M (+ 21.6% on a like-for-like basis with the incorporation of Addax on 1 January 2010). Activity was brought by Services (+29.2% € 51.7 M), while Software (+5.3%, € 3 M) had a good level of royalties associated with software sales by IBM and confirms its expansion in the archiving sector.

Infotel has high levels of results, which confirm the turnaround of margins already seen in the second half of 2009. The operating income has more than doubled, at € 5.0 M as opposed to € 1.9 M in H1 2009, with an operating margin of 9.15%. The net profit (group share) also displayed an increase of more than 100% to achieve € 3.1 M (as opposed to € 1.4), with a net margin of 5.6%.

These excellent results reinforce Infotel‘s already solid financial situation, with € 34.8 M in Group equity, no debt, and a net cash of € 17.7 M at 31 June 2010 (as opposed to € 18.6 M at 30 June 2009), after the payout of dividends and the acquisition of Addax.

Upward revision of 2010 targets

In light of these good results and the good visibility of the Group for the second half, Infotel aims for an annual turnover of € 110 M), associated with an operating margin of 10%.

Infotel joins CAC Small 90 and SBF 250 indexes

Following the quarterly review of the Euronext Paris indexes on 3 September 2010, the Index Committee decided to include Infotel in the CAC Small 90 and SBF 250 indexes from 20 September 2010.

Next meetings:
Midcap Event 20 & 21 September 2010
Publication of Q3 turnover: 20 October 2010

About Infotel

Listed on Compartment C of Euronext Paris since January 1999 (ISIN code FR0000071797), Infotel is an expert in database management and web applications. At the cutting edge of technology innovation, Infotel develops its expertise in two complementary divisions: IT services and high-tech software publishing. As part of its "Ambitions 20012" plan, Infotel has set itself two major goals: perform almost all service provision from its service desks, and become a front-line player in dematerialisation. In 2009, Infotel had a turnover of € 89.2 M.