Q1 Revenues 2008/2009: 27.2 millions euros, up 47%

Revenues of Solucom for the first quarter of 2008/2009 was €25.2m, up 47% compared to the same period last year.

Cosmosbay~Vectis has been consolidated since 1 April 2008 and contributed €5.8m to the group's invoices for the quarter. The merger of the two companies has confirmed the complementary nature of Cosmosbay~Vectis and Solucom services, which has been illustrated with the finalisation of the first joint projects. However, this synergy did not have an impact on the figures for the first quarter and will only appear gradually over the course of the financial year.

On a like for like basis, Solucom's organic growth was 14%, which is substantially higher than that for the overall market and is line with the Group's annual growth plan.

875 employees on 30 June 2008

Solucom had 875 employees on 30 June 2008, against 666 on 31 March 2008. This 31% increase in the workforce is essentially the benefit of the merger with Cosmosbay~Vectis, which took effect on 1 April 2008.

The group's capacity utilization rate was 81% for Q1 2008/2009. As would be expected, this is slightly lower than the 84% achieved during 2007/2008, because of the consolidation effect of Cosmosbay~Vectis, whose utilization rate is historically lower than Solucom's.

On a like for like basis, Solucom's utilization rate was 85%.

Confirmation of priorities for 2008/2009

As expected, orders from some clients have shown the first signs of slowing down. However, overall the market continues to present demand. The group has continued to observe considerable pressure in the employment market. Recruitment and the control of turnover remain key factors in the group's development in 2008/2009.

Solucom has confirmed its priorities for the year, focusing on the successful merger with Cosmosbay~Vectis and the continuation of dynamic growth.

In financial terms, the group stands by the objectives that were set for 2008/2009: turnover of €105m, with the consolidation of Cosmosbay~Vectis over twelve months, and a margin on ordinary activities of between 10% and 12%.

Furthermore Solucom declares that it acquired an additional 6% of Cosmosbay~Vectis' capital on 5 June 2008, on the same terms as the initial operation. The group now holds almost all of Cosmosbay~Vectis' capital.

Next announcement: turnover for the first half of 2008/2009 on 21 October 2008 (after close of 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, AP-HM, Banque de France, BNP Paribas, Bouygues Telecom, Carrefour,  Crédit Agricole, EDF, GDF SUEZ, La Poste, L'Oréal, Ministries of the Economy and Finance, of National Education,  and of the Interior, MMA, Neuf Cegetel, 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

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