INFOTEL (EPA:INF) - INFOTEL : Third-quarter 2020 revenue: €54.4m. Nine-month revenue: €173.0m. Limited decrease; recovery initiated.

Transparency directive : regulatory news

21/10/2020 17:45

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

Press Release
Paris, 21 October 2020

                       Third-quarter 2020 revenue: EUR54.4m
                          Nine-month revenue: EUR173.0m
                      Limited decrease; recovery initiated

Revenue
(in EURm)
                2020  2019   Change 2020 / 2019
Q1              66.0  62.8          +5.0%
Q2              52.5  59.5         -11.8%
Q3              54.4  60.3          -9.8%
Services        52.2  57.7          -9.5%
Software         2.2   2.6         -15.9%
9-month total  173.0 182.7          -5.3%
Services       166.4 176.0          -5.4%
Software         6.4   6.7          -4.4%

Business activity resumes in the third quarter, increasing sharply in September

Against the backdrop of a major health crisis, third-quarter 2020 revenue came
out at EUR54.4m, down 9.8% on third-quarter 2019. Revenue for the first nine
months of the year totalled EUR173.0m, with a limited decrease of 5.3% compared
with the same period in 2019.

The Services business posted revenue of EUR166.4m in the first nine months of
2020, down 5.4%. Business activity resumed gradually in the third quarter,
employees on subsidised leave being reintegrated massively to respond to the
substantial recovery in September.
Just 45 employees were on subsidised leave at end-September, compared with 150
at end-June, and Infotel plans to further reduce the number of personnel on
subsidised leave between now and the end of the year.

Among the key accounts for which Infotel is a leading partner, the Group
confirms that it has recovered a large part of its business with Air France. In
Industry, business activity with PSA has now almost returned to its pre-crisis
level, while business with Airbus has stabilised at around 60% of pre-crisis
revenue.

In Banking / Finance, Infotel has reinforced its position through stronger
activity with BNP PARIBAS, Groupe BPCE and Banque de France. Business is also
improving in the Insurance / Pensions sector, for example with a new service
centre at AG2R, which should be staffed by some 20 employees by the end of the
year.

Infotel UK Consulting Ltd also staged a recovery, with the resumption of its
service business with Nissan and Virgin Money.

Overall, the Infotel Group employed 2,434 people at end-September and the
inter-contract rate remained low for the quarter at 3.2%.

www.infotel.com

The Software business posted IBM royalties of EUR1.12m in the third quarter,
the decrease resulting from US dollar depreciation over the period.

In September, Infotel announced the signature of a multi-year contract for its
Orlando software with American Airlines.

Year-end target

Infotel is confirming its guidance on full-year revenue, with a limited
year-on-year decrease (-7% to -8%), and on operating margin, which will be
close to that of 2019. It expects to see a return to growth in 2021.

                                 Next event:
                 Q4 2020 revenue: 27 January 2021 after market close.

About Infotel

Listed on Compartment B of Euronext Paris since January 1999 (ISIN code
FR0000071797), Infotel specialises in information management systems for major
accounts, from mobile to very high-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 EUR248.4 million in 2019 and employs over 2,400
people.

Contacts

Infotel                          Actifin
Michel Koutchouk                 Financial Communication
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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26/04/2024 17:45

INFOTEL (EPA:INF) - INFOTEL : Third-quarter 2020 revenue: €54.4m. Nine-month revenue: €173.0m. Limited decrease; recovery initiated.

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