INFOTEL (EPA:INF) - Infotel : H1 2018 results: Growth and profitability. Revenue: €115.2m, +11.5%. Current operating income: €10.7m. Group net income: €7.1m.
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19/09/2018 17:40
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Euronext B - ISIN: FR0000071797
Reuters: ETOF.PA - Bloomberg: INF FP
Press release
Bagnolet, September 19, 2018
H1 2018 results: Growth and profitability
- Revenue: EUR115.2m, +11.5%
- Current operating income: EUR10.7m
- Group net income: EUR7.1m
The Board of Directors approved the 2018 half-year financial statements at its
meeting of September 19, 2018. They were subject to a limited review by the
Statutory Auditors. The half-year financial report is available on the
Company's website: (www.infotel.com).
In EURm, at June 30
(audited accounts) H1 2018 H1 2017 Change
Consolidated revenue 115.2 103.3 +11.5%
o/w Services 110.5 99.0 +11.7%
o/w Software 4.6 4.3 +6.3%
Personnel expenses (51.7) (48.0) +7.7%
External expenses (49.0) (40.1) +22.2%
Depreciation, amortization
and provisions (1.6) (1.8) -9.8%
Current operating income 10.7 11.2 -4.6%
as a % of revenue 9.2% 10.8% -
Operating income 10.9 11.1 -2.4%
Income tax (3.8) (3.9) -3.6%
Group net income 7.1 7.1 -0.2%
as a % of revenue 6.1% 6.9%
A momentum-packed first half
Infotel posted organic revenue growth of +11.5% to EUR115.2m in H1 2018,
compared to +4.2% on average for the market as a whole according to Syntec
Numérique forecasts for 2018.
The Services division generated revenue of EUR110.5 million, an increase of
+11.7% on the back of solid momentum in digital transformation projects as our
clients ramped up development of service centres.
The Software division earned revenue of EUR4.6 million, up +6.3% over the
period, including a +2.8m increase in IBM royalties.
Good half-year results
Current operating income came out at EUR10.7m in H1 2018, down slightly
year-on-year due to a one-off rise in external expenses which included
substantial investments in employee training campaigns aimed at addressing our
clients' digital transformation needs.
The Group also kept up an active recruitment policy, hiring 214 new employees
amid persistently tense competition for new industry talent.
The inter-contracts rate remained under control at 1.8% for the first half of
the year.
Group net income totalled EUR7.1m, generating a net margin of 6.1%.
Robust financial structure
Shareholders' equity climbed to EUR79.4m and the Group has no financial debt.
The Group's cash position also improved to EUR59.5m vs. EUR46.7m in the first
half of 2017.
Strong guidance for 2018
The Group expects growth in the second half to be on a par with H1, with some
uncertainty triggered by recruitment tensions.
Over the longer term, the Group is on track to double in size by 2022 by
consolidating acquisitions and maintaining a solid operating margin.
Upcoming event:
Publication of Q3 2018 revenue: October 24, 2018 after market close.
About Infotel
Listed on Compartment B of Euronext Paris since January 1999 (ISIN code
FR0000071797) Infotel is specialised in large account information management
systems, from mobile to very large volume databases (Big Data). At the
forefront of technological innovations, Infotel develops its expertise around
two complementary business lines: IT services and software publishing. Infotel
posted revenue of EUR209.3 million in 2017 and employs over 2,500 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