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Annual results 2008

Annual results 2008

Very good operating margin (10.1%)
and net margin (7.7%)
Dividend proposal of 3 euros

Bagnolet, 18 March 2009

In €M, at 31 December20082007
On a like-for-like
basis(1)
Δ
2008
/ 2007
2007
published
figures
Turnover88.5482.77+ 7.0 %84.39
Recurring Operating Income8.985.39+ 66.6%6.12
Ordinary Operating Income(2)8.988.32+ 7.8%9.06
In % of turnover(2)10.1%10.1%10.7%
Consolidated Net Profit6.814.59+ 33.2%3.30
Ordinary Net Profit(2)6.815.56+ 22.4%6.22
In % of turnover(2)7.7%6.7%7.4%

(1) Odaxys Consulting sold end 2007 (€ 1.6 M)
(2) Expenses related to the assignment of free shares in 2007 (€ 2.9 M)

CONTINUING THE GROWTH OF ACTIVITY IN 2008: +7%

Infotel continued its development during 2008, brought about by growth in Services (93% of turnover) which increased by 7.9% on a like-for-like basis. Given the slight decrease in Software (-3.8% on 7% of turnover), the total turnover increased 7% on a like-for-like basis in 2008, € 88.54 M.

Despite the current economic climate, the Group benefited from its status as main partner in the services desks for key accounts, in which web-to-databases are a strategic development line.

HIGH LEVEL OF PROFITABILITY: 10.1%

The ordinary operating income increased 7.8%, € 8.98 M (on a like-for-like basis). Careful handling of expenses, based in particular on the use of subcontracting, enabled a high level of operating margin to be maintained, 10.1% of turnover. In total, the changes in staff-related expenditure was limited to 5.3%.

The gradual expansion of service desks enabled competence management to be optimised. The rate of inter-contracts thus has remained a very low level of 2.2%.

The ordinary net profit increased 2.4% to € 6.81 M, a net margin of 7.7% as opposed to 6.7% in 2007 (on a like-for-like basis).

At 31 December 2008, the financial situation of Infotel shows to be particularly solid with equity of €32.6 M, no debt and a net cash of €21.6 M (+€2.7).

DIVIDEND PROPOSAL: 3 EUROS PER SHARE

The Board of Directors proposed to the Shareholders’ Meeting of 26 May 2009 the payment of a dividend of 1.5 euro per share and an exceptional dividend payment of 1.5 euro per share, giving a total of 3 euros per share, representing, actual price, a return of 9.4%.

FORECAST: A ROBUST FINANCIAL MODEL FOR THE SHORT TERM, NEW AIMS FOR 2012

In 2009, Infotel will continue to apply its attested development model, based on several lines:

  • a strategy of proximity, with the opening of a new agency in Brest in March;
  • better integration of software in the service provision, thanks to a new organisation of the sales area;
  • expansion in the dematerialisation market;
  • and the creation, during the first half of the year, of a new top-level consulting structure.

This development is described as part of the new strategic plan “Ambitions 2012” with two main goals:

  • to perform, by 2012, almost all service provision from the service desks;
  • to become a front-line player in dematerialisation.

Next meeting:
Publication of Q1 2009 turnover: 29 April 2009 (after trading)

About Infotel

Listed on Compartment C of Euronext Paris since January 1999 (ISIN code FR0000071797), Infotel is positioned at the forefront of technology innovation for companies, offering database and web application solutions. Infotel develops its expertise around two core divisions: IT services and high-tech software. In 2008, Infotel achieved a turnover of € 88.5 M.

banque

Bank

Automatic process of loan request and the simplification of KYC "Know Your Customer".

Features

  • Improvement of KYC and the onboarding of new clients with automatic identity verification thanks to intelligent ID document processing on the web or in an application.
  • Acceleration in the dealing with requests for loans and mortgages: process and automatic classification of new documents, extraction of information and validation of data points.
  • Fraud prevention and respect of rules: automation of compliance requirements on contracts, financial documents and ID documentation.
  • Easing and simplification of the consumer spending comprehension: classification of bank transfers from the study of receipt and invoice item data.
Brevets

Patents

Automated process of scientific papers and other documentation linked to the registering of a patent for intellectual property.

Features

  • Recognition and automatic indexation of fields for a precise search among the documents relating to the patent application.
  • Standardisation of the documents with online specifications: bibliopraphy, expired patent, renewed patent, etc.
Comptabilité

Accounting

Automatic processing of receipts, bills and other financial documents.

Features

  • Automisation of the accounting process: declaration of VAT, supplier bills, etc.
  • Standardisation and harmonisation of the business accounting processes.
  • Improving data security with the deletion of manual errors and with the synthesising of controls.
  • Contribution to the reduction in fraud risks, à la réduction des risques de fraude, reinforcement of operational security, audit trails and internal controls.
  • Support in the change management and accounting teams on the appropriation of this new solution.