Half year turnover for 2008/2009: 47.7 million euros, up 43%, of which 14% organic growth

Solucom's turnover for the second quarter of the 2008/2009 financial year was €22.5m, reflecting overall growth of 38% compared to the same period last year. Excluding Cosmosbay~Vectis' contribution, the group achieved organic growth of 15%.

Performance in line with first half 2008/2009 forecasts

As anticipated, the deterioration in the economic climate gave rise to indications of a slowdown that appeared gradually over the course of the half-year. These first indications, which chiefly concerned a few ordering parties, did not, however, prevent some sectors, such as utilities, from remaining particularly lively. Despite this deterioration, which was especially noticeable for Cosmosbay~Vectis, the group achieved half year results in line with forecasts, without, however, exceeding them, unlike the previous year.

Turnover for the half year was €47.7m, reflecting overall growth of 43%. Organic growth for the half year was 14%, maintaining a higher rate of growth than the consultancy segment of the Software and Services market, estimated at 6% by Syntec Informatique.

More than 900 employees at the end of September

On 30 September 2008, the group had 910 employees, compared to 666 on 31 March 2008. Including Cosmosbay~Vectis' teams from April 1st, group's workforce grew by 5% over the half year, in an employment market that is still highly competitive.

The level of activity for the first half of 2008/2009 was 80%, taking into account the inclusion in the group's scope of Cosmosbay~Vectis, whose level of activity has historically been lower than that of Solucom. On a like for like basis, the group's level of activity remained stable compared to the first half of 2007/2008, at 85%.

Increased vigilance in a more challenging environment

The recent acceleration of the financial crisis suggests a new tightening of the economic environment and the group is remaining extremely vigilant regarding changes in its market. In this context, the objective of turnover of €105m is being maintained, but is now more ambitious. Furthermore, the group confirms its objective of an operating margin on ordinary activities of between 10% and 12%.

Next announcement: half year results for 2008/2009 on 25 November 2008 (after closing of the stock market).

Solucom: IT to serve our clients' performance results
Solucom is an IT & management consultancy.
Solucom also gives advice to large corporations regarding their IT systems strategies, and assists them in defining and steering their IT projects. Upstream, Solucom also gives advice to companies and telcos for their marketing strategies, business performance, and core business transformation projects
Its positioning is summarised by its mission statement: IT to serve our clients' performance results.

Solucom is the partner of the largest French companies in their national and international projects:
Air France-KLM, Alstom, ANPE-Unedic, AP-HM, Banque de France, BNP Paribas, Bouygues Telecom, Carrefour,  Crédit Agricole, EDF, GDF SUEZ, La Poste, L'Oréal, Ministries of the Economy, of National Education,  and of the Interior, MMA, Orange, RTE, Sanofi-Aventis, SFR, SNCF, Société Générale, Total.
Solucom was awarded the "innovative company" qualification by OSEO Innovation.
Solucom is listed on compartment C of the Paris Euronext market of NYSE Euronext.
ISIN code: FR0004036036 – LCO; ICB: 9533 – Services Informatiques

LCO