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2015 Annual Results: an excellent year

2015 Annual Results: an excellent year

Revenue: + 11.2%
Operating margin: 11.3%
Dividend: 1 € per share (proposed at the AGM on May 25, 2016)

Bagnolet, March 17, 2016

The Board of Directors, which met on March 16, 2016 approved the annual accounts for the fiscal year 2015.

In € million at December 31,
(Audited accounts)
Consolidated revenue174.6157.0+ 11.2%
– Services167.0149.8+ 11.5%
– Software7.67.2+ 5.3%
Personnel expenses(79.0)(71.5)+ 10.5%
External expenses(69.9)(63.3)+ 10.4%
Depreciation, amortization and provisions(3.1)(2.8)+ 10.4%
Current operating income
in % of revenue
+ 16.9%
Income tax(7.1)(5.7)+ 23.0%
Net income, Group share
in % of revenue
+ 16.4%

Growth led by Services

On a global IT services market up 2.1% in 2015 (source Syntec Numérique), Infotel has recorded revenue of € 174.6 million, an entirely organic growth of 11.2% compared to 2014.

The Services division grew by 11.5% to € 167.0 million thanks to very strong business service centers, with in particular a rise in activity in the Banking / Finance sector.

The Software division, to € 7.6 million, is up 5.3% from 2014. It integrates € 4.2 million royalties from IBM.

Results growth and strong profitability

Current operating profit was € 19.8 million against € 16.9 million a year earlier, an operating margin of 11.3%.

This performance is linked to maintaining a stable level of expenses: personnel expenses were 45.2% of revenue on the year 2015 and subcontracting expenses amounted to 34.3% of revenue in 2015.

The inter-contracts rate remained very low over the year, to 1.8%.

Net income Group share was € 12.9 million representing a net margin of 7.4% of revenue.

Solid financial structure

The excellent results for the year also resulted in a strong cash generation: with a cash flow of € 22.4 million, a need for working capital and investments under control, Infotel has increased its cash € 8.7 million in 2015.
Infotel financial position at December 31, 2015 is thus further strengthened with € 65.6 million of equity, no debt and a cash position of € 47.0 million at year end.

Proposed dividend of € 1 per share

The Infotel Board of Directors will propose to the General Meeting of 25 May 2016 the payment of a dividend of € 1 per share for the year 2015. This proposal is motivated by the very good performance on the exercise and the renewed confidence of management in 2016 outlook. This will bring the distribution rate to 51.4% of net income.

Confidence for 2016

Infotel confirms the ambitions of the “Performance 2016” strategic plan with revenue of around € 200 million including acquisition (s) while maintaining profitability. This positive outlook validates the Group strategy, with positioning on niche markets for mobility and big data, deployment of new service centers in France and abroad associated with the software marketing policy on a worldwide basis.

Upcoming events:
General Meeting of Shareholders: May 25, 2016 afternoon
2016 Q1 revenue press release: May 25, 2016 after market

About Infotel

Listed on Compartment B of Euronext Paris since January 1999 (ISIN code FR0000071797) Infotel is the Specialist of large accounts information management systems, from mobile to very large volume databases (Big Data). At the forefront of technological innovations, Infotel develops its expertise around two complementary poles: computer services and software editing. With € 175 million in revenue in 2015, Infotel employs nearly 2000 people.



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