Q1 2012 REVENUE: +22.3%

Q1 2012 REVENUE: +22.3%
#Communiqués Financiers

Q1 2012 REVENUE: +22.3%

(+19.5% like-for-like)
An excellent 1st quarter driven by the dynamism of service centers

Bagnolet, May 16, 2012

In M€, at 31 March 2012 2011 Δ 2012 / 2011 2012 cp*
1st quarter 36,7 30,0 +22,3 % 35,9
– Services 34,4 27,8 +23,9 % 34,0
– Softwares 2,3 2,2 +2,1 % 1,9

*2012 constant scope: after deduction of the turnover of Insoft Software GmbH (€0.37 million) acquired on 30/06/11 and Empeiria (€0.47 million) consolidated as of 01/01/12

Infotel recorded an excellent 1st quarter of 2012 with a turnover of €36.7 million, up 22.3% compared to the 1st quarter of 2011. 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 increased by 19.5%.

Scaling up service centers

The Services division (93.8% of turnover) grew by 23.9% to €34.4 million. The 1st quarter saw an increase in service centers in all sectors (Insurance, Retirement, Banking, Aeronautics, etc.) with the exception of the Automotive market.

The contracts signed in the second half of 2011 are bearing fruit and allow Infotel to show dynamic growth by maintaining a contract rate at its lowest.

Over the period, Infotel recruited some fifty new employees, bringing the Group’s salaried workforce to more than 1,000 people.

The integration of Empeiria, which has strengthened Infotel’s geographical network in the North region, is taking place in good conditions. This acquisition, which is fully in line with the Group’s proximity strategy, also opens up new prospects for international development, particularly in Belgium.

Software (6.2% of revenue) grew by 2.1% to €2.3 million. The business recorded a very good 1st quarter 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.
The acquisition of Insoft Software GmbH, which has been consolidated since 1 July 2011, has contributed positively to revenue and is also proceeding in good conditions. The German company will enable Infotel to accelerate its distribution of new software as part of its direct marketing strategy.

Outlook 2012: confirmation of annual targets

Given this very good 1st quarter, Infotel confirms its revenue target of €135 million, combined with a further increase in results.

The payment of a dividend of €2.25 per share for the 2011 financial year will be submitted to the vote of the Annual General Meeting on 23 May 2012.

Next appointment:
Publication of 2012 half-year revenue: July 30, 2012 (after stock exchange)

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