#Communiqués Financiers


Second quarter: +14.7%
Confirmation of solid growth
Favourable outlook for 2011

Bagnolet, july 28th, 2011

In M€, at june, 30th 1er qua.
1er qua.
Δ 2011 / 2010 1st qua. 2010
pro forma*
Δ 2011 / 2010
pro forma
1st quarter 30,0 27,8 +7,9 % 27,2 +10,4 %
2e quarter 30,0 26,9 +11,6 % 26,1 +14,7 %
half-year turnover 60,0 54,7 +9,7 % 53,3 +12,5 %
– Services revenue 56,7 51,7 +9,6 % 50,4 +12,6 %
– Software revenue 3,3 3,0 +10,8 % 3,0 +10,8 %


* 1st week 2010 pro forma: after deduction of Harwell Management’s turnover accounted for as of July 1, 2010

The second quarter of 2011, up 14.7%, confirmed the good orientations of the beginning of the year and was part of the continuation of a positive commercial dynamic. Half-year 2011 revenue amounted to €60 million, up 12.5% compared to a pro forma 1st half of 2010 of €53.3 million.

A dynamic 1st half: new successes for the Services business and further growth in the Software business

Services grew by 12.6% to €50.4 million and Software by 10.8% to €3.3 million. In a well-oriented market context, Infotel benefits from its local positioning and its ability to support its customers in their development, both in France and, increasingly, internationally. In order to cope with this dynamic development, Infotel continues to make the recruitment and training of beginners one of its priorities, while using subcontracting in a controlled way. During the 1st half of the year, the Group made 120 new hires.

The Services division (94.5% of turnover) posted a very low inter-contract rate (1.3%), reflecting the dynamism of its activity. New Service Centers and AMTs were opened during the second quarter for The Group’s clients in the Insurance, Retirement and Banking and Aeronautics sectors, which led the Group to develop its activities beyond the borders of France, particularly in Germany and China. Infotel’s new agency, opened in northern France at the beginning of the year, began its deployment with the prospection of a portfolio of high-potential customers. At the same time, Infotel Business Consulting (IBC), a new subsidiary of Infotel specializing in the project management of IT projects, now employs 10 people and is gradually taking over its activity.

The Software division (5.5% of turnover) has achieved a high level of revenue thanks to a good performance of royalties from IBM sales since the end of 2010. The deployment of Merge Backup software, officially announced by IBM in May 2011, will strengthen the commercial ties between IBM and Infotel in the coming months. Regarding Arcsys and Infoscope Tests, the new software developed by Infotel as part of a direct marketing strategy, lthe conquest of new customers continues: the Arcsys archiving and dematerialization platform has new references among its customers, such as Almerys, a subsidiary of Orange.

Outlook: Business growth associated with an opportunistic acquisition strategy

Infotel confirms its target of €120 million in revenue for 2011 (excluding external growth).

At the same time, the Group is pursuing a targeted external growth strategy, recently illustrated by the acquisition of the German database specialist Insoft Software GmbH.

Insoft Software GmbH (turnover of €1 million in 2010) and Infotel are positioned in the same market for very high volume DB2 database technical software, and are complementary, both in terms of product range and geographical areas.

Initially, DB/IQ software from Insoft Software GmbH and Infotel’s Infoscope software will be merged, and Infotel will expand the distribution of its software, including Arcsys, in Germany. Ultimately, Insoft Software GmbH is set to become Infotel’s international distribution platform. This strategic acquisition responds to Infotel’s desire to expand the distribution of its own products.

In 2011, the Group will remain attentive to any external growth opportunity allowing it to enrich its offer or complete its geographical network, in accordance with its Services/Software business model, and in compliance with its identity as a local engineering group.

Next appointment:
Publication of the 2011 half-year results: August 31, 2011 (after the stock market)

About Infotel

Listed on Compartment C of Euronext Paris since January 1999 (Isin code FR0000071797), Infotel is the specialist in the management of databases and their Web applications. At the forefront of technological innovations, Infotel develops its expertise around two complementary areas of expertise: IT services and high-tech software publishing. As part of its “Ambitions 2012” plan, Infotel has set itself two main objectives: to achieve almost all of its services in Service Centers and to become a key player in dematerialization. In 2010, Infotel had a total turnover of €107.6 million.

Michel Koutchouk Co-founder