2012 annual results

Revenue: €134.3 million, +8.7%
Profit from recurring operations: €7.1 million
Net income Group share: €4.7 million
Dividends: €2 per share (proposed at the AGM of 22 May 2013)
“2016 Performance” plan: a target of €200 million in turnover

Bagnolet, March 13, 2013

In M€, at 31 December	2012⁽¹⁾	2011
Consolidated revenue	134,3	123,5
— Services	127,3	116,2
— Softwares	7,0	7,3
Personnel costs	62,8	55,05
External loads	60,1	53,1
Profit from recurring operations	*7,1*	*11,0*
*— as % of turnover*	*5,3 %*	*8,9 %*
Income taxes	(2,6)	(4,0)
Net income Group share	*4,7*	*7,4*
*— as % of turnover*	*3,5 %*	*6,0 %*

(1) Current scope: consolidated data including the turnover of Insoft Software GmbH (€1.21 million) acquired on 30/06/11 and Empeiria (€1.41 million) consolidated as of 01/01/12

2012: activity up +8.7%, above the market

In a still difficult market context (+0.7% in 2012, source IDC), Infotel recorded revenue of €134.3 million for 2012, up 8.7% compared to the previous year (+7.4% at constant scope).

The Services division (posted growth of 9.5% to €127.3 million, thanks in particular to the ramp-up of major service centres at major accounts such as Airbus, Crédit Mutuel, BNP Paribas, PSA and Axa.

The Software division was down 4.3% to €7.0 million, due to a temporary decline in IBM royalties.

Priority to growth, temporarily impacting margins

In 2012, personnel costs represented 46.8% of turnover (vs. 44.5% in 2011) and external subcontracting costs amounted to 39.3% of turnover (vs. 38.0% in 2011) – reflecting in particular a one-off increase in intercontract in the second half of the year. For the whole year, Infotel made 275 recruitments.

These developments, the result of strategic decisions to focus on growth, resulted in a current operating income of €7.1 million compared to €11.0 million, representing an operating profitability of 5.3%.
Net income Group share amounted to €4.7 million (3.5% of revenue).

Solid financial structure

Infotel’s financial position at 31 December 2012 was solid with €44.2 million in equity, no debt and a cash position of €16.9 million.

Dividends: increase in the payout ratio

Infotel’s Board of Directors will propose to the Annual General Meeting on 22 May 2013 the payment of a dividend of €2 per share for the 2012 financial year. This decision, motivated by confidence in the future and the desire to involve shareholders in Infotel’s successes, led to an increase in the payout ratio from 40% in 2011 to 57% of net income in 2012.

Confidence for 2013

With increased operational efficiency and good visibility for the Software business, Infotel expects revenue growth to outpace the market in 2013 combined with higher profitability.

“2016 Performance” plan, new ambitions: €200 million and 1,700 employees

In a context of widespread connected mobility and exponential growth in the volume of data to be processed (Big Data), Infotel presents its 2013-2016 “Performance 2016” strategic plan.

The Group aims to reach €200 million in turnover with 1,700 employees (excluding subcontractors) by 2016 with the priority objectives of pursuing development among key accounts via service centers, by supporting them on the mobility and optimized management of their large volumes of data both in France and internationally.

Next appointment:
Publication of revenue 1st quarter 2013: May 15, 2013 (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 very large volume databases serving key accounts. At the forefront of technological innovations, Infotel develops its expertise around two complementary areas of expertise: IT services and software publishing. With more than €134 million in turnover in 2012, Infotel has more than 1,500 employees.

2012 annual results