INFOTEL (EPA:INF) - Infotel : 2017 annual results: solid performances. Revenue: €209.3m, up +9.9%. Current operating income: €23.4m, up 7.1%. Dividend for proposal at the AGM: €1.15 per share, + 15%.
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Euronext B - ISIN: FR0000071797
Reuters: ETOF.PA - Bloomberg: INF FP
Press release
Bagnolet, March 14, 2018
2017 annual results: solid performances
Revenue: EUR209.3m, up +9.9%
Current operating income: EUR23.4m, up 7.1%
Dividend for proposal at the AGM: EUR1.15 per share, + 15%
The Board of Directors, in its meeting of March 14, 2018, approved the annual
financial statements for fiscal year 2017.
In EUR million at December 31
(audited accounts) 2017 2016 Change
Consolidated revenue 209.3 190.5 9.9%
Services 201.2 181.9 10.6%
Software 8.1 8.6 - 5.9%
Personnel expenses 96.5 87.9 9.8%
External expenses 81.6 73.7 10.6%
EBITDA 26.6 25.1 6.0%
Depreciation, amortization
and provisions (3.5) (3.5) ns
Current operating income 23.4 21.8 7.1%
as a % of revenue 11.2% 11.4%
Income tax (7.3) (7.6) - 2.9%
Net income, Group share 15.8 13.7 15.2%
as a % of revenue 7.5% 7.2%
The accounts have been audited and the Statutory Auditor's report is
underway.
Services division chalks up sharp growth: +10.6%
In a global IT services market estimated to have grown 3.4% in 2017 (source:
Syntec Numérique), Infotel chalked up EUR209.3 million in revenue,
representing fully organic growth of 9.9% from 2016.
The Services division recorded 10.6% growth in revenues to EUR201.2m, amid
extremely robust activity at the service centers of the group's biggest clients
and the reference provider contracts won with blue- chip accounts, such as
Caisse des Dépôts. The Banking sector is still the biggest contributor to
business (35% of Service division revenues), followed by industry (26% of
Services revenues).
The Software division, reported sales of EUR8.1m, including lower royalties
from IBM, at EUR4.6m.
Excluding royalties from IBM, the software division posted growth of 7.6%.
New growth in earnings and operating profit still high
Current operating income amounted to EUR23.4 million vs EUR21.8 million one
year earlier, up 7.1%, while operating profit came in at 11.2%.
This fine performance was fueled by operating profit growth at the Services
division and the group's cost control, which were practically stable at 79.5%
in 2017, compared with 79.6% in 2016.
The inter-contract rate remained very low at 1.7% for the full year.
Net income, Group share came in at EUR15.8 million, up 15.2%, generating a net
margin amounting to 7.5% of revenue.
Solid financial structure
With shareholders' equity increasing to EUR81.6 million and no financial debt,
the Group's financial position is extremely solid, with net cash increasing to
EUR64.3m.
Proposed dividend: EUR1.15 per share
Infotel's Board of Directors will propose the payment of a dividend of EUR1.15
per share for 2017 to the General Meeting of May 31, 2018. This proposed
dividend reflects the excellent performance posted for the year as well as
management's renewed confidence in the outlook for 2018. This will bring the
dividend payout ratio to 48.5% of net income.
Outlook
Confident in its prospects for 2018, Infotel remains on track for continued
growth in sales and strong operating profitability.
Further, the Group aims to:
- continue outperforming the market,
- maintain an average growth rate of around 10% over the next four years,
complemented by additional growth achieved through acquisitions,
- maintain a healthy level of operating income.
Upcoming events:
General Meeting: May 31, 2018 (afternoon)
Publication of Q1 revenue: May 31, 2018 after market close.
About Infotel
Listed on Compartment B of Euronext Paris since January 1999 (ISIN code
FR0000071797), Infotel specializes 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 revenue of EUR209.3 million in 2017 and employs over 2,200
people.
Contacts
Infotel
Michel Koutchouk
Financial Communications
Vice President
Tel.:+ 33 1 48 97 38 38
michel.koutchouk@infotel.com
Actifin
Financial Communications
Ghislaine Gasparetto
Tel.: +33 1 56 88 11 11
ggasparetto@actifin.fr
www.infotel.com