Turnover: €209.3m, +9.9%
Current operating profit: €23.4m, +7.1%
Dividend proposed to the General Meeting: €1.15 per share, +15%
The Board of Directors, which met on March 14, 2018, approved the annual accounts for the 2017 financial year.
|In €m, as of December 31
|Consolidated turnover||209,3||190,5||+ 9,9 %|
|– Services||201,2||181,9||+ 10,6 %|
|– Softwares||8,1||8,6||– 5,9 %|
|Employee costs||96,5||87,9||+ 9,8 %|
|External loads||81,6||73,7||+ 10,6 %|
|EBITDA||26,6||25,1||+ 6,0 %|
|Depreciation and amortization||(3,5)||(3,5)||ns|
|Current operating income
as a % of turnover
|+ 7,1 %
|Income taxes||(7,3)||(7,6)||– 2,9 %|
|Net profit attributable to the Group
as a % of turnover
|+ 15,2 %
These accounts have been audited and certification reports are being prepared.
Strong growth in Services: +10.6%
In an IT services market estimated to grow at 3.4% for 2017 according to Syntec Numérique, Infotel recorded revenue of €209.3 million, fully organic growth of 9.9% compared to 2016.
The Services division grew by 10.6% to €201.2 million thanks to a very sustained level of activity in the service centers at most of the Group’s major customers and the obtaining of listings with major accounts such as the Caisse des Depots. The Banking sector (35% of Services activity) remains the leading contributor, followed by industry (26% of Services activity).
The Software division, with revenue of €8.1 million, includes the amount of IBM royalties down to €4.6 million. Excluding IBM royalties, the Software division grew by 7.6%.
Further improvement in results and operating profitability still high
Current operating income amounted to €23.4 million compared to €21.8 million a year earlier, i.e. an increase of 7.1% and operating profitability at 11.2% of turnover.
This performance is explained by an increase in operating profitability in Services and good control of expenses, which remained virtually stable in 2017 at 79.5% of revenue compared to 79.6% in 2016.
The inter-contract rate, which is still very low, is 1.7% for the year as a whole.
Net income, Group share, stands at €15.8 million, up 15.2% and generates a net margin of 7.5% of turnover.
Robust financial structure
With equity increasing to €81.6 million and no financial debt, the Group’s financial situation is very solid with net cash increasing to €64.3 million.
Proposed dividend: €1.15 per share
Infotel’s Board of Directors will propose to the General Meeting of May 31, 2018 the payment of a dividend of €1.15 per share for the 2017 financial year. This proposal is motivated by the excellent performance recorded on the financial year and renewed management confidence in the outlook for 2018. The payout ratio will thus be 48.5% of net income.
Confident in the outlook for the current year, Infotel confirms a growing level of activity and the maintenance of a good level of operating profitability.
In the longer term, the Group has set itself the following objectives:
to continue to outperform the market,
to maintain organic growth of around 10% on average over the next four years, supplemented by additional growth achieved through acquisitions,
maintain a good level of operating profitability.
General Assembly: May 31, 2018 – afternoon
Publication of 1st quarter revenue: May 31, 2018 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 €209.3 million in revenue in 2017, Infotel employs over 2,200 people.
Actifin – Communication Financière
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