Operating margin: 11.4%
Dividend: €1 per share (proposed to the AGM of May 31, 2017)
Bagnolet, March 15, 2017
The Board of Directors, which met on March 15, 2017, approved the annual accounts for the 2016 financial year.
|In €m, as of December 31
|Consolidated turnover||190,5||174,6||+ 9,1 %|
|— Services||181,9||167,0||+ 8,9 %|
|— Softwares||8,6||7,6||+ 13,3 %|
|Employee costs||87,9||79,0||+ 11,3 %|
|External loads||73,7||69,9||+ 5,5 %|
|Depreciation and amortization||(3,5)||(3,1)||ns|
|Current operating income
as a % of turnover
|+ 10,1 %|
|EBITDA||28,8||25,6||+ 12,7 %|
|Income taxes||(7,6)||(7,1)||+ 7,3 %|
|Net profit attributable to the Group
as a % of turnover
|+ 6,0 %|
Growth driven by Services
In a global IT services market estimated to grow by 2.8% for 2016 (source Syntec Numérique), Infotel recorded revenue of €190.5 million, fully organic growth of 9.1% compared to 2015.
The Services division grew by 8.9% to €181.9 million thanks to a still sustained level of activity of the service centers at most major customers and in particular in the Banking and Services sectors with ongoing projects in within Banque de France, Banque Populaire, Caisse d’Epargne, BNP Paribas, EPO or even Airbus and Air France…
The Software division, at €8.6 million, includes the amount of IBM royalties for €5.3 million.
Improved results and still high level of operating profitability
Current operating income amounted to €21.8 million compared to €19.8 million a year earlier, representing an increase of 10.1% and operating profitability of 11.4%.
This performance is linked to the good control of expenses: they remained virtually stable in 2016 at 79.6% of revenue compared to 79.5% in 2015.
The inter-contract rate, still low, was 2.1% for the year as a whole.
Net income, Group share, stands at €13.7 million, up 6.0%, which generates a high net margin of 7.2% of revenue.
Solid financial structure
With shareholders’ equity increasing to €72.5 million and no financial debt, the Group’s financial situation is very solid. The Group’s cash at December 31, 2016 increased to €51.3 million compared to €47.0 million at the end of 2015.
Proposed dividend: €1 per share
Infotel’s Board of Directors will propose to the General Meeting of May 31, 2017 the payment of a dividend of €1 per share for the 2016 financial year. This proposal is motivated by the very good performance recorded on the financial year and the renewed confidence of management in the outlook for 2017. The payout rate will thus stand at 48.5% of net income.
Confident in the outlook for 2017, Infotel confirms a growing level of activity and the maintenance of a good level of operating profitability.
As part of its new strategic plan, Infotel has set a 5-year objective of doubling in size by integrating acquisitions while continuing to outperform the market and maintaining a good level of operational profitability.
General Assembly: May 31, 2017 – afternoon
Publication of 1st quarter revenue: May 31, 2017 after market close.
Listed on Compartment B of Euronext Paris since January 1999 (Isin code FR0000071797), Infotel is the specialist in large account management systems, from mobile to very large databases (Big Data). At the forefront of technological innovations, Infotel develops its expertise around two complementary areas of expertise: IT services and software publishing. With a turnover of €190.5 million in 2016, Infotel employs more than 2,000 people.