DEVOTEAM (EPA:DVT) Continuity of Devoteam's activities during the lockdown period and impacts of the Covid-19 health crisis

Transparency directive : regulatory news

15/04/2020 18:48

presse release.

Paris, 15 April 2020

Situation update

Continuity of Devoteam's activities during the lockdown period and impacts of
the Covid-19 health crisis

2020 Business update

Devoteam has quickly deployed a crisis unit and Business Continuity Plan (BCP)
to adapt its activities to the lockdown and preserve the health of its
employees in face of the current Covid 19 crisis. To ensure the continuity of
its customer projects, the Group operates remotely with around 85% of its
teams. The proportion of consultants carrying out projects on customers' sites
is limited.

The Group's activities are impacted by the lockdown measures across Europe,
particularly in France, Germany and the Benelux. Other Group countries show
lower impacts thanks to exposure to essential sectors such as
telecommunications, health and the public sector.

Devoteam resorted to annual leave for teams directly affected as well as to
short-time work measures in certain countries, subject to approval by the local
authorities.

The start of new projects slowed down by approximately 50% overall compared to
the budget, since the implementation of lockdown measures mid-March. The Group
remains in constant contact with its customers to adapt its activity.

Investments with our partners in innovation and training

The Group is launching an ambitious training plan for its consultants with
unlimited access to the training catalogs from strategic partners Google, AWS,
Microsoft, ServiceNow and Salesforce with an associated certification
program.
At the same time, Devoteam continues to invest in its Kubernetes DevOps Academy
with the objective of certifying several hundred employees on open source
technologies.

This will boost consultants' skills on technologies contributing the most to
the acceleration of the economy's digitalization.

2019 dividend

Due to the uncertainty, the Management Board, supported by the Supervisory
Board, decided, on April 9th 2020, to favor a cautious approach by proposing
not to distribute dividends for the 2019 financial year at the Annual General
Meeting of shareholders on 5 June 2020.

A strong financial position

Building on the 10 March 2020 financial communication, the Group maintains a
solid financial base. As a reminder, as at 31 December 2019, the Group had a
net cash position of EUR48 millions, including EUR81.6 million of gross cash
restated for EUR33.6m of financial debts mostly due in July 2021.

As at 31 March 2020, gross cash stood at EUR79.1 million with stable financial
debts. The Group also confirmed lines of credit with European major banks, with
a maturity close to 4 years, and amounting to EUR105 million which remains
undrawn at this date.

2020 outlook

Given the macroeconomic environment, the Group does not have sufficient
visibility to communicate an outlook for the 2020 financial year at this
stage.

An update on the outlook will be made on 19 May 2020, during the financial
communication for the 1st quarter of 2020.

ABOUT DEVOTEAM

At Devoteam, we deliver innovative technology consulting for business.

As a pure player for Digital Transformation of leading organisations across
EMEA, our 7,600 professionals are dedicated to ensuring our clients win their
digital battles. With a unique transformation DNA, we connect business and
technology.

Present in 18 countries in Europe and the Middle East, and drawing on more than
20 years of experience, we shape Technology for People, so it creates value for
our clients, for our partners and for our employees.

Devoteam achieved revenues of EUR761,9 millions in 2019.

At Devoteam, we are Digital Transformakers.

Devoteam SA (DVT) is listed in the B Compartment of Euronext Paris (ISIN :
FR0000073793), part of indices CAC All Shares, CAC All-Tradables, CAC
Mid&Small, CAC Small, CAC SOFT. & C.S., CAC TECHNOLOGY and ENT PEA-PME 150.

Executive Board                        Financial communication

Stanis de Bentzmann,                   Vivien Ravy,
Co-CEO                                 Group controlling & investor relations
stanislas.de.bentzmann@devoteam.com    Director
                                       vivien.ravy@devoteam.com

Press contacts

Le Public Système
Séverine Picault,
s.picault@lepublicsysteme.fr
+33 6 19 45 68 29
www.devoteam.com

www.devoteam.com

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25/10/2021 18:05

DEVOTEAM (EPA:DVT) Continuity of Devoteam's activities during the lockdown period and impacts of the Covid-19 health crisis

Transparency directive : regulatory news

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