2015 First half Results

2015 First half Results:
increase in revenues and margins

Turnover: € 86.4 million (+13.9%)
Operating margin: 10.6%
Net margin: 6.9%

Bagnolet, August 26, 2015

€M, at June 30 2015 2014 Δ 2015 / 2014
H1 Turnover 86.4 75.9 +13.9%
– Services 82.3 72.4 +13.7%
– Software 4.2 3.5 +18.5%
Personnel expenses 39.6 35.2 +12.6%
External expenses 34.5 30.5 +13.0%
Depreciation, amortization and provisions (1.5) (1.3) Ns
Operating income
- as % of turnover
9.2
10.6%
7.6
10.0%
+21.7%
Income Taxes 3.3 2.6 +29.4%
Net income (Group share)
- as % of turnover
6.0
6.9%
4.9
6.5%
+21.6%

A first half of growth

In the first half, Infotel achieved a turnover of € 86.4 million, a completely organic growth of 13.9% compared to the first half of 2014.

The Services division (95% of total turnover) achieves a first-half revenue of € 82.3 million, up 13.7%, marking the outperformance of this activity on its market (Syntec Numérique forecasts growth of 1.8% for IT in France in 2015).

The Software division (5% of total revenue) in the first half achieves a turnover of € 4.2 million, up 18.4% thanks to the good level of sales and a positive effect of the euro / dollar exchange rate.

Profitability continues to grow

Operating income posted in the first half 2015 is € 9.2 million, up 21.7% compared to first half 2014, generating an operating margin of 10.6% against 10.0% in the first half of 2014. This performance confirms the relevance of the approach of Infotel, which managed to industrialize the evolution of strategic IT systems of its key account customers, from mobile to Big Data, in optimized regional service centers, thus managing to combine control of development and resources (less than 2% of inter-contracts in the first half), technical quality and functional coverage.

Net income (group share) for the six months of the consolidated entity stood at € 6.0 million, up 21.6% (against € 4.9 million in the first half of 2014), yielding a net margin of 6.9% against 6.5% in the first half of 2014

A very strong financial position

Infotel’s financial position remains very strong. The Group equity amounted to € 58.5 million (against € 51.7 million at June 30, 2014) and the Group has no financial debt. Cash is plentiful at € 33.2 million on June 30, 2015, an increase of € 6.5 million compared to June 30, 2014, and after the payment of dividends.

Confidence for the end of 2015

The trends observed in the first half should extend over the year: current service centers load is rising, especially in the banking sector, new business is being signed in France as in Europe and new software sales are expected by the end of the year.

Given the strong performance for the first half of 2015, Infotel is confident about its growth objectives and safety margins for the current year. The year-end objectives will be clarified September 16, 2015.

 

Upcoming events:
Analyst meeting and Press Release: September 16, 2015
Q3 Revenues: October 28, 2015 (after market close)

About Infotel

Listed on Compartment C of Euronext Paris since January 1999 (ISIN code FR0000071797) Infotel is the Specialist of large accounts information management systems, from mobile to very large volume databases (Big Data). At the forefront of technological innovations, Infotel develops its expertise around two complementary poles: computer services and software editing. With over € 157 million turnover in 2014 Infotel has a staff of over 1,800.