INFOTEL (EPA:INF) - Infotel : 2016 annual results: another strong year. Revenue: €190.5 million. Operating margin: 11.4%. Dividend: €1 per share (proposed at the General Meeting of May 31, 2017).

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15/03/2017 17:51

Euronext B - ISIN: FR0000071797
Reuters: ETOF.PA - Bloomberg: INF FP

                                                  Press release
                                                  Bagnolet, March 15, 2017

                   2016 annual results: another strong year

                          Revenue: EUR190.5 million
                           Operating margin: 11.4%

  Dividend: EUR1 per share (proposed at the General Meeting of May 31, 2017)

The Board of Directors, in its meeting of March 15, 2017, approved the annual
financial statements for fiscal year 2016.

In EURm, at December 31
(audited accounts)                              2016       2015     Change

Consolidated revenue                           190.5      174.6      +9.1%
Services                                       181.9      167.0      +8.9%
Software                                         8.6        7.6     +13.3%
Personnel expenses                              87.9       79.0     +11.3%
External expenses                               73.7       69.9      +5.5%
Depreciation, amortisation and provisions       (3.5)      (3.1)       ns
Current operating income                        21.8       19.8     +10.1%
as a % of revenue                               11.4%      11.3%
EBITDA                                          28.8       25.6     +12.7%
Income tax                                      (7.6)      (7.1)     +7.3%
Net income, Group share                         13.7       12.9      +6.0%
as a % of revenue                                7.2%       7.4%

Growth led by the Services division

On a global IT services market that grew by an estimated 2.8% in 2016 (source:
Syntec Numérique), Infotel posted a revenue of EUR190.5 million, representing
fully organic growth of 9.1% from 2015.

The Services division was up 8.9% to EUR181.9 million, benefiting from
continued momentum in service centres at most major clients, and particularly
in the Banking and Services sectors, with ongoing projects at Banque de France,
Banque Populaire, Caisse d'Epargne, BNP Paribas, EPO, Airbus and Air France.

The figure for the Software division, at EUR8.6 million, includes EUR5.3
million in royalties from IBM.

Income up; operating profitability still strong

Current operating income amounted to EUR21.8 million vs EUR19.8 million one
year earlier, an increase of 10.1% with operating profitability of 11.4%.

This strong performance was supported by solid cost control: expenses were
largely stable in 2016 at 79.6% of revenue, compared to 79.5% in 2015.

The inter-contracts rate remained low at 2.1% for the full year.

Net income, Group share came in at EUR13.7 million, up 6.0%, generating a high
net margin amounting to 7.2% of revenue.

Solid financial structure

With shareholders' equity increasing to EUR72.5 million and no financial debt,
the Group's financial situation is very solid. The Group's cash position was
EUR51.3 million at December 31, 2016, an increase from EUR47.0 million at the
end of 2015.

Proposed dividend: EUR1 per share

The Infotel Board of Directors will propose the payment of a dividend of EUR1
per share for 2016 to the General Meeting of May 31, 2017. This proposed
dividend reflects the excellent performance posted for the year as well as
management's renewed confidence in the outlook for 2017. It will bring the
dividend payout ratio to 48.5% of net income.

Outlook

Confident in its outlook for 2017, Infotel continues to post business growth
and strong operating profitability.
According to its new strategic plan, Infotel aims to double in size in the next
five years by consolidating acquisitions while continuing to outperform the
market and maintaining strong operating profitability.

                                  Next events
                   General Meeting: May 31, 2017 (afternoon)
          Publication of Q1 revenue: May 31, 2017 after market close.

About Infotel

Listed on Compartment B of Euronext Paris since January 1999 (ISIN code
FR0000071797), Infotel specialises in large-account information management
systems, from mobile to very large volume databases (Big Data). Operating at
the forefront of technological innovation, Infotel develops its expertise
across two complementary divisions: IT services and software publishing.
Infotel posted a revenue of EUR190.5 million in 2016 and employs over 2,000
people.

Contacts

Infotel                                                               Actifin
Michel Koutchouk                                     Financial Communications
Chief Executive Officer                                  Ghislaine Gasparetto
Tel.: +33 (0)1 48 97 38 38                         Tel.: +33 (0)1 56 88 11 11
michel.koutchouk@infotel.com                           ggasparetto@actifin.fr

                                www.infotel.com

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INFOTEL (EPA:INF) - Infotel : 2016 annual results: another strong year. Revenue: €190.5 million. Operating margin: 11.4%. Dividend: €1 per share (proposed at the General Meeting of May 31, 2017).

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