UPWARD REVISION OF THE 2010 TARGETS
Infotel targets revenue of €110 million combined with an operating margin rate of 10%
Bagnolet, september 16th, 2010
After publishing excellent results for the 1st half of 2010 (press release and financial report available on www.infotel.com), Infotel specifies its objectives for 2010 and announces its admission to the CAC Small 90 and SBF 250 indices.
1st half of 2010: excellent performance in growth and profitability
Infotel achieved an excellent 1st half, with revenue up 27.6% to €54.7 million (+21.6% at constant scope excluding the integration of Addax on 1 January 2010). Activity was driven by the Services division (+29.2% to €51.7 million), while the Software division (+5.3% to €3 million) benefited from a good level of royalties related to software sales by IBM, and confirmed its ramp-up in the archiving sector.
Infotel returns to high levels of results that confirm the recovery in margins already observed in the second half of 2009. Operating income more than doubled to €5.0 million compared to €1.9 million in the first half of 2009, representing an operating margin of 9.15%. And net income (Group share) also increased by more than 100% to €3.1 million (compared to €1.4 million), representing a net margin of 5.6%.
These excellent results reinforce Infotel’s already very solid financial position, with €34.8 million in Group equity, no debt, and cash of €17.7 million at 30 June 2010 (compared to €18.6 million at 30 June 2009) after payment of dividends and payment of the Addax acquisition.
Upward revision of the 2010 targets
In view of these good results and the good visibility the Group has in the second half of the year, Infotel is now targeting annual revenue of €110 million, combined with an operating margin rate of 10%.
Infotel integrates the CAC Small 90 and SBF 250 indices
Following the quarterly review of the Euronext Paris indices on 3 September 2010, the Scientific Indices Council took the decision to admit Infotel to the sample composing the CAC Small 90 and SBF 250 indices as of 20 September 2010.
Midcap Event: September 20 and 21, 2010
Q3 revenue: October 20, 2010
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 “Ambition 2012” plan, Infotel has set itself two main objectives: to carry out almost all of its services in Service Centers and to become a key player in dematerialization. In 2009, Infotel had a total turnover of €89.2 million.