INFOTEL (EPA:INF) - Infotel : Solid business recovery in Q2 2021: +23.1%. Growth of 9.0% in H1 2021, outperforming guidance.

Transparency directive : regulatory news

28/07/2021 17:45

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

Press release
Paris, 28 July 2021

               Solid business recovery in Q2 2021: +23.1%

            Growth of 9.0% in H1 2021, outperforming guidance

Revenue (EURm)
                  2021   2020   2019   2021/ 2020   2021/ 2019

                                        (%)           (%)
Q1                64.5   66.0   62.9     -2.2%         +2.7%
Services          62.6   63.6   60.6     -1.7%         +3.2%
Software           2.0    2.3    2.3    -15.9%        -12.6%
Q2                64.6   52.5   59.5    +23.1%         +8.5%
Services          62.9   50.6   57.7    +24.3%         +9.1%
Software           1.7    1.9    1.9    -11.4%        -10.0%
1st half         129.1  118.4  122.4     +9.0%         +5.5%
Services         125.5  114.2  118.2     +9.9%         +6.1%
Software           3.6    4.2    4.1    -13.9%        -11.4%

Solid business recovery in Q2 2021

Infotel recorded a significant improvement in revenue in the second quarter of
2021, up +23.1% to EUR64.6m, following a drop of -2.2% in the first quarter.
Revenue for H1 2021 climbed +9.0% year-on- year to EUR129.1m. This performance
reflected a growth of +5.5% compared to H1 2019, exceeding the target set by
the company of generating a comparable level of revenue to 2019.

The Services business saw a robust improvement of +24.3% to EUR62.9m in Q2 2021
versus a slight dip of -1.7% in Q1. Over the first half, revenue picked up
+9.9% to EUR125.5m.

The Services division benefited from very strong sales momentum.

The Banking/Finance sector got a boost from new contracts with Banque de France
and BNP Paribas, and from the ramp up of the activity with Crédit Agricole,
contributing 40.8% to Services revenue at end-June 2021, versus 39.8% for the
same period in 2020.

The Industry sector accounted for 22.7% of Services revenue, with business from
Airbus holding steady.

With a contribution up slightly to 19.2%, Services / Transport nevertheless
incorporated a strong recovery by Air France over the period. Insurance /
Pensions climbed to 14.1% versus 13.6% in 2020. The Administration sector
stabilised at 3.1%.

The nationwide roll-out of the C3D2 service for shadow IT management is going
according to plan, underscoring the relevance of the company's positioning with
large corporates.

With 202 gross new hires over the period (vs. 143 last year), the total
workforce headcount was 2,669 at end-June 2021. The persistently low
inter-contract rate averaged 2.5% in H1.

The Software business recorded revenue of EUR1.7m in Q2 versus EUR1.9m over the
same period in 2020, including IBM royalties of EUR0.83m.

Revenue for the first half came out at EUR3.6m, including EUR1.9m in IBM
royalties.

As the airline sector started on the road to recovery, the Orlando software
suite (aircraft documentation management system) gained multiple new clients
such as Republic Airways, Air France, FlyaDeal, Emerald, Fiji Airways and
Binter, and still boasts considerable growth potential for the future.

Growth above guidance

H1 2021 performance signalled a return to growth, with full-year 2021 revenue
now expected to top that of 2019.

                                Upcoming events
           2021 H1 results: 22 September 2021, after market close
             Analyst meeting: 23 September 2021 - 11:30 a.m.

About Infotel
Listed on Compartment B of Euronext Paris since January 1999 (ISIN code:
FR0000071797), Infotel specialises in information management systems for key
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 EUR235.2m in 2020 and employs more than 2,600
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

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INFOTEL (EPA:INF) - Infotel : Solid business recovery in Q2 2021: +23.1%. Growth of 9.0% in H1 2021, outperforming guidance.

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