1ST HALF 2012 REVENUE: +14.6%

1ST HALF 2012 REVENUE: +14.6%
#Communiqués Financiers

1ST HALF 2012 REVENUE: +14.6%

(+11.9% at constant scope)
Sustained activity and ramp-up of service centers
Confidence in the outlook

Bagnolet, July 30, 2012

In M€, as at 30 June 2012 2011 Δ 2012 / 2011 2012 cp*
1st quarter 36,7 30,0 +22,3 % 35,9
2nd quarter 32,1 30,0 +7,0 % 31,3
1st half-year 68,8 60,0 +14,6 % 67,1
– Services 64,7 56,7 +14,1 % 63,7
– Softwares 4,1 3,3 +24,2 % 3,4

*2012 constant scope: after deduction of the turnover of Insoft Software GmbH (€0.69 million) acquired on 30/06/11 and Empeiria (€0.97 million) consolidated as of 01/01/12

Infotel recorded a good 1st half of 2012 with a turnover of €68.8 million, up 14.6% compared to 2011. After a very strong growth in the 1st quarter (+22.3%), the 7.0% increase in turnover during the 2nd quarter (+4.2% at cs) is not representative of a fundamental trend for the second half.

Excluding contributions from Insoft Software GmbH (Software division) and Empeiria (Services division), acquired in 2011 and integrated on 30 June 2011 and 1 January 2012 respectively, the business grew by 11.9%, representing organic growth above the market.

1st half of 2012: sustained activity and ramp-up of service centers

The Services division (94% of revenue) grew by 14.1% to €64.7 million (+4.6% in the 2nd quarter). Activity was strong in all sectors except the Automotive market, with an increase in several major service centers in the Insurance, Retirement, Banking and Aeronautics sectors. Nearly 120 people were recruited in the first half of the year, and the activity rate remains within the Group’s usual standards.

The Software division (6% of revenue) grew by 24.2% to €4.1 million, including +69.8% in the second quarter (+40.3% at pc). The business recorded two good quarters in terms of royalties from IBM sales. In France, commercial activity is well received by the market, but the wait-and-see attitude and relatively long decision cycles push back the purchase forecast in the second half of the year.

Confidence in the 2012 outlook

The integration of Empeiria, which strengthened the Services Division, continues in good conditions and has strengthened Infotel’s geographical network in the North region. Infotel’s positioning on the strategic activities of key accounts makes it possible to maintain a satisfactory level of activity.

At the same time, the acquisition of Insoft Software GmbH, intended to become the international distribution platform of the Software Division, has strengthened the marketing of the Group’s software (in particular The Arcsys archiving software) in Germany.

Given this good 1st half and the strength of the Group’s business model (nearly 70% of the Service activity carried out on a flat-rate basis), Infotel is confident about the annual outlook and will confirm its objectives when the half-year results are published.

Next appointment:
Publication of half-year results: August 29, 2012 (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 2011, Infotel had a total turnover of €123.5 million.

Michel Koutchouk Co-founder