Solucom passes the 100 millions euros mark in turnover in 2008/09 – Dynamic organic growth in 4th quarter:+16%

In M€	2008/09	2007/08	Variation
Turnover 9 months	74,3	62,9	+ 40%
Turnover Q4	27,6	20,1	+ 38%
Annual turnover	101,9	73,0	+ 40%

 

In Q4 of its 2008/09 financial year (ended 31 March 2009), Solucom achieved a turnover of € 27.6M, up overall by 38%. On a constant basis, excluding Cosmosbay~Vectis, which was consolidated on 1 April 2008, quarterly organic growth was 16%, as against 14% for the first nine months of the period.

During the quarter the business environment featured major clients displaying increased care and cost-cutting programmes that involved the deferral or stopping of certain projects.

Nonetheless, due its major sectoral presence and the scope of the services it offers, Solucom was able to seize the pockets of growth that remained among certain clients and in certain areas. Thus for the entire 2008/09 financial year the Industry – Utilities sector represented 36% of turnover, as against 28% in the previous year, while the Public sector, which benefited from the contribution of Cosmosbay~Vectis, progressed from 5% to 9%.

At the end of the 2008/09 financial year, Solucom's annual turnover was € 101.9M, up overall 40%, of which 14% came from organic growth. This figure falls within the € 100 to 105M range announced when the half-year results were published.

 

966 employees at end 2008/09

As announced at the end of November, the Company, while remaining very vigilant, has continued its recruiting efforts through to the end of the financial year. As at 31 March 2009, Solucom therefore had 966 employees, as against 666 a year earlier, annual growth of 45%, of which 13% was on the same consolidation scope.

Solucom thus took a major step towards one of its 2010 targets, to go beyond the 1,000 mark in employees by that time.

The company's activity rate was 79% over the whole year. Cosmosbay~Vectis's activity rate, which had dropped to 57% in Q2, has started to recover, with 65% in Q4. It is, however, still far off the company's historical rate, between 70% and 75%.

Excluding Cosmosbay~Vectis, the company's activity rate was 83% in 2008/09, in line with the normative overall rate of 82% – 84%.

 

Operating margin of 10% – 12%

At the end of the last quarter of the 2008/09 financial year Solucom confirmed that its annual operating margin would be between 10% and 12%, in line with its initial target.

When it publishes its 2008/09 annual financial statements Solucom will address its outlook for the 2009/10 financial year.

Upcoming dates: results for the 2008/09 financial year, 2 June 2009 (after close of trading).

 

About Solucom

Solucom is a management and IT consulting firm.

Solucom's customers are among the top 200 large companies and public bodies. To them, Solucom is capable of mobilizing and combining the skills of nearly 1,000 staff members.

Our mission statement? To place innovation at the heart of business lines, target and steer transformations that are sources of added value, and turn the information system into an actual asset designed to serve corporate strategies.

Solucom is listed on NYSE Euronext Paris and has been granted the innovative company award from OSEO Innovation

For further information, www.solucom.fr

 

Solucom Pascal IMBERT Chairman of the Board Phone: +33 1 49 03 25 00 Pascale BESSE Finance Director Phone: +33 1 49 03 25 00

Actus Finance Mathieu OMNES Analysts & investor relations Phone: +33 1 72 74 81 87 Nicolas BOUCHEZ Press relations Phone: +33 1 77 35 04 37