Annual Turnover 2011: +14.8%

Annual Turnover 2011: +14.8%

Acceleration of growth in the last quarter: +22.0%
€ 120 M turnover target surpassed

Bagnolet, 31 January 2012

In €M, at 31 December 2011 2010 Δ 2011 / 2010 2011
on a like-for-like
basis*
2010
pro forma**
Δ 2011 like-for-like /
2010
pro forma
Q1 30.0 27.8 +7.9% 30.0 27.2 +10.4%
Q2 30.0 26.9 +11.6% 30.0 26.1 +14.7%
Q3 29.0 24.6 +17.8% 28.6 24.6 +16.5%
Q4 34.5 28.3 +22.0% 34.5 28.3 +21.8%
Annual turnover 123.5 107.6 +14.8% 123.1 106.2 +15.9%
- where Services Turnover 116.2 102.2 +13.7% 116.2 100.8 +15.3%
- where Software Turnover 7.3 5.4 +35.1% 6.9 5.4 +28.2%

* 2011 on a like-for-like basis: after deduction of the turnover of the company Insoft Software GmbH (€0.37 M) acquired 30/06/11
** 2010 pro forma: after deduction of the turnover of Harwell Management (€1.37 M) accounted for from 01/07/2010

Target surpassed €123.5 M turnover in 2011

Infotel recorded for the second consecutive quarter an acceleration in growth of its activity. The turnover for the last quarter 2011 reached € 34.5 M as opposed to € 28.3 M in the same period in the previous year, an increase of 22.0% (+21.8% in financial data from acquisitions). The Group’s two divisions have had a positive dynamic. The Services division proceeded to open new accounts, both in Paris and other regions, and the Software division continues its diversification strategy, supported by the recent acquisition of Insoft.

For the year, activity grew 14.8% to € 123.5 M (+15.9% to € 123.1 M in financial data), surpassing the target of € 120 M (excluding external growth) announced by the Group in March 2011.

Growth of activity in the last quarter: +22%

The Services division (94.1% of turnover) recorded an expansion in all sectors (Insurance, Pensions, Banking, Aeronautics, etc.) with the winning of new contracts, new customers, and new projects among existing customers (such as Arkéa, I-BP, BNP Paribas, EADS, Airbus, PSA).

Supported by expert subcontracting, Infotel continues its recruitment strategy with the creation of 61 jobs in the last quarter, reaching a workforce of 971 people as of 31 December 2011. In total, 289 people were recruited in 2011. The average annual inter-contract rate is 1.5%, illustrating a high level of activity.

The Services activity grew 19.2% in the last quarter and 13.7% in the year (+15.3% in financial data). Following the signing of an agreement in December 2011, the acquisition of Empeiria (€ 2 M in turnover and 8% in project management in 2011, expert in Object technologies: Java, DotNet…) was finalised and it will be incorporated in the Group’s accounts from 1 January 2012. The company, based in north France, strengthens Infotel’s regional operations and opens new development prospects abroad, notably in Belgium.

The Software division (5.9% of turnover) registered a record last quarter in terms of royalties from IBM sales and represented a growing part of the Group’s activity. The Software activity grew 79.6% in the last quarter and 35.1% in the year (+28.2% in financial data). The activity benefited from the growth dynamic triggered by ADS in archiving and the acquisition of Insoft Software GmbH, consolidated from 1 July 2011. Insoft Software GmbH aims to support the distribution of new software developed by Infotel through a direct commercialisation strategy. The establishment of synergies between the two companies is under way and it will enable the Group to benefit from an extended range of complementary products.

Forecast: good visibility and continued growth

Positioned in strategic activity segments and strengthened by a recurring economic model, Infotel looks to continue its dynamic growth in 2012, based on a geographical network and a complementary Services/Software offering.

The Group will define its targets for 2012 during the publication of its annual results on 8 March.

Next meeting:

Publication of annual results 2011: 08 March 2012 (after trading)

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 2012″ 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 2011, Infotel had a turnover of €123.5 M.