2001/2002 results

  • June 11, 2002Regulated information

Company puts on a new dimension after doubling its size and expanding its offer
Results are sustained, despite a difficult market and the reorganization of Arcome

Financial year ended March 31st
In M€
financial statements
+ Idesys
7 months
Operating profit(2)
Operating margin
Net profit(3)
Net margin

(1) Idesys consolidated over 12 months, Arcome over 7 months
(2) After employee shareholder scheme
(3) Net profit before goodwill, provision (and capital loss) on company own shares
(4) Net profit before goodwill, after provision (and capital loss) on company own shares: 0.9M€

2001/2002 financial year: a new dimension after doubling the company's size

In 2001/2002, the SoluCom Group acquired a new dimension, with a turnover up 90% at 21.6M€, and a head count that more than doubled, rising from 108 to 234 employees. Excluding the acquisition of Idesys and Arcome, the organic growth comes out to 27%.
Now that it has the critical size and a comprehensive offer with which it can address the largest infrastructure projects, the Group has captured several major contracts, including TotalFinaElf (worldwide network reorganization).
The Group's strengthening is also reflected by a particularly well balanced client portfolio (in terms of sector breakdown) and limited risk (no client represents more than 8% of the turnover).

Results are sustained, despite the difficult economic context and the reorganization of Arcome

The 2001/2002 financial year was impacted upon by 7 difficult months in an economic context marked by:
– a disaster-stricken Operator market from September 2001, after a glum first half-year;
– a Corporate market whose IT budgets are basically declining, with nevertheless, situations that vary from one client to another, some of them maintaining a sustained demand.
Besides, Arcome, a subsidiary acquired in early September 2001 – specializing in telecom consulting (technical, marketing, strategic, and regulatory) with a customer base mostly comprised of Operators – has been reorganized, with a view to preserving the Group's profitability conditions.



The 2001/2002 figures result from contrasting moves:
– resistance for the Solucom-Idesys perimeter, with an operating margin of 12.2% and a net margin of 8%. Q4 confirmed this trend;
– difficulties for Arcome, the impact of which, over the 7 consolidation months, is reflected by an operating loss of -0.5 M€, out of a turnover of 2.3M€.

The consolidated results display an operating result after employee profit sharing of 1.8M€ (operating margin: 8.6%) and a net profit before goodwill, provision (and capital loss) on company own shares of 1.1M€ (net margin: 4.9%).
The distribution of a gross dividend (including a tax credit) of 0.18€ shall be submitted to the General Meeting of September 30, 2002. Besides, in line with the new Corporate Governance requirements, it shall be suggested to change the Group's legal organization into a Board of Directors and a Supervisory Board with three independent members. Pascal Imbert would then be appointed Chairman of the Board of Directors and Michel Dancoisne would be appointed Chairman of the Supervisory Board.

An organization suited for a sluggish market context in 2002

Pursuant to the action taken regarding Arcome during Q1 2002, the Group is in a configuration that permits it to face a market expected to remain difficult throughout 2002. The visibility regarding the business level for 2002/2003 is limited for the time being, and it is quite difficult to determine a date for recovery.
Regarding financial 2002/2003, providing that the market conditions remain stable, the Group has as its objective to achieve a turnover of 24M€, with an operating profitability that should exceed that of the 2nd half of 2001/2002 (6.4%). It is important to note that the first half of this year shall be subject to the impact of the summer's low business level, without benefiting from the full effect of the action taken for Arcome.
Aside from improving its profitability, in 2002 SoluCom focuses its action on consolidating the Group on its new perimeter and conquering new positions in a disturbed market.

About the SoluCom Group:

Solucom, which was formed through the merger of SoluCom, Idesys and Arcome, is active in infrastructure consulting and engineering in the telecoms and networks, security and e-technologies segments. The Group has positioned itself in very high value-added services.

The Solucom Group's client roster includes some very prestigious names, all of which are very large accounts, including Air France, Amadeus, Arcelor, Auchan, Banque de France, BNP-Paribas, Caisse d'Epargne, Cegetel, Crédit Agricole, EDF, France Télécom, Groupement Cartes Bancaires, La Poste, the French Ministries of Finance and the Interior, LVMH, Renault, SNCF, Société Générale, Suez, TotalFinaElf and Vivendi.

SoluCom trades on the NextEconomy segment of Euronext Paris.
Euroclear Code 7486 – FTSE: 972, IT services – ISIN: FR0004036036.


Co-Présidents – Fondateurs
Tél. : 01 30 43 35 00


Laurence KIPFER
Relations Analystes-Investisseurs
Relations presse
Tél. : 01 53 67 36 36

Regulated information

Download a PDF file about 2001/2002 results

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