H1 2007/2008 – Operational result: up 57% – Annual targets up

  • November 27, 2007Regulated information
In million euros H1 2007/2008 H1 2006/2007 Change
Revenue 33.5 22.7 +48%
Operational result 4.2 2.7 +57%
Current operating margin 12.6% 11.8%  
Operating income 4.2 2.7 +54%
Net group profit 2.7 1.8 +52%
Net margin 8.1% 7.9%  


48% growth during the first half of the year, of which 20% organic

During the first half of fiscal 2007/2008 (ending March 31, 2008), Solucom’s revenue stood at €33.5m, up 48%. On a like for like basis (excluding New'Arch, KLC and Vistali), Solucom’s growth was 20%, a clear acceleration compared to previous years.

Along with the excellent sales dynamics, reflected by Solucom’s strengthened cooperation with several key accounts, the group’s growth was fuelled by a higher head count (+19% over the period), which now stands at 626.


Significant rise in the daily sales price: +5%

Once again, the half-year was marked by the high level of operating indicators. The activity rate remained stable at 85%, in compliance with the normative rate. The sales price gained 5% over the average daily rate achieved in 2006/2007, of which +3% on a like for like basis.

In that context, the half-yearly operational result gained 57% over one year, i.e. a current operating margin of 12.6%, significantly higher than the one achieved one year earlier. With such a margin, Solucom is already positioned at the top of the 11% to 13% bracket targeted for the whole of financial 2007/2008.

The group’s share of net profit gained 52%, at €2.7m at mid-year, representing a net margin of 8.1% versus 7.9% one year earlier.


The cash position remains positive after the acquisition of Vistali

As at September 30, 2007, the net cash stood at €1.5m, after €5.1m disbursements related to the acquisition of Vistali and the payment of complementary costs for previous acquisitions. Equity further rose, at €22.3 as at September 30, 2007.


Priorities maintained during the second half-year: recruitment, integration of Vistali, and development of the governance consulting offer.

During the second half of the year, Solucom plans to pursue its efforts in terms of recruitment and, in particular, has launched the 3rd edition of Solucommunity in order to cement its relationships with major engineering and business schools.

From the operating point of view, the group will also strive to pursue the integration of Vistali, particularly by structuring a common offer with Dreamsoft, in order to materialize its ambitions in SOA architectures consulting and continue to confirm, more than ever, its position as the French leader in that area.

Lastly, from the sales point of view, while further strengthening its position in technology consulting, the group will pursue the development of its range of offers in terms of governance consulting. These efforts have already enabled Solucom to win significant projects during the half-year elapsed, focused on such buoyant themes as the management of project portfolios, ITIL approaches (Information Technology Infrastructure Library), and sourcing strategies.

The annual growth target now exceeds 35%.

In the context of pursuing IT investments, even though the economic context encourages caution, and given the advance on its business plan at mid-year, Solucom rose its targets for 2007/2008.

Solucom now targets sales revenue of €72m, up more than 35%, versus the initial €70m, for a current operating margin ranging between 11% and 13%, for the whole of financial 2007/2008.

Forthcoming publications: Q3 2007/2008 sales, February 5, 2008 (after the market closes)


Solucom: Governance & Technologies Consulting
Solucom is an information systems consulting firm specializing in governance and technology consulting. Its positioning is summarized by its mission statement: IS performance to serve companies' core business requirements.
Solucom also advises telcos for strategy, marketing, and innovation.
Solucom is the partner of the largest French companies in their national and international projects:
Air France-KLM, Alstom, ANPE, Banque de France, BNP Paribas, Bouygues Telecom, Carrefour, Crédit Agricole, EDF, Gaz de France, La Poste, L’Oréal, Ministry of the Economy and Finance, Ministry of National Education, Ministry of the Interior, Neuf Cegetel, Orange, RTE, SFR, SNCF, Société Générale, Suez, Total.

Solucom is listed on Euronext Paris – Eurolist – Section C, NextEconomy section.
ISIN code: FR0004036036 – LCO; ICB: 9533 – Services Informatiques

All of our financial information is published on www.solucom.fr


Solucom

Pascal IMBERT

CEO

Phone: +33 (0)1 49 03 25 00

Pascale BESSE

Finance Director

Phone: +33 (0)1 49 03 25 00
Kaparca Finance

Mathieu OMNES
Analyst & investor relations

Phone: +33 (0)1 72 74 81 87

Nicolas BOUCHEZ

Press contact

Phone: +33 (0)1 77 35 04 37

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