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Update on the impact of the Covid-19 epidemic


Update on the impact of the Covid-19 epidemic

Bagnolet, 15 April 2020

An update by Infotel on the effects on its activity from the Covid-19 epidemic.

Impact on activity

The Covid-19 epidemic and the related confinement measures have had a moderate impact on Infotel’s activity so far.

Infotel has been able to continue providing services to the majority of its clients while also implementing the necessary measures to protect its employees.

The impacts on its activity vary according to the activity sector:

  • In Banking/Insurance (36.2% of the 2019 revenue of the Services activity), none of the Group’s projects have been deferred or cancelled. Certain clients in this sector have even signed new contracts to strengthen intervention by Infotel’s teams in this particular environment.
  • In Services/Transport (21.2% of the 2019 revenue of the Services activity), Air France-KLM has, at present, halted nearly 90% of its activity and therefore has virtually suspended most services. In 2019, Air France-KLM accounted for 6.3% of the Group’s full-year revenue.
  • In Industry, and in aerospace in particular, the stoppage by Airbus of half of its production has led to a freeze on services in April. Activity should resume gradually from May.

In terms of employment, Infotel took immediate steps in view of the situation: remote working by almost all staff, short-time work, use of holiday leave and days off under the 35-hour work week, reduction of some outsourcing, a freeze on recruitment and youth training programmes.

Objectives pending revision

Given the expected economic slowdown and the uncertainties around the pandemic, Infotel, after an excellent start to the first quarter, anticipates a decline in activity in the second quarter but is unable for now to provide an estimate of its effects as they will depend on how long the confinement measures remain in place and the pace at which activity resumes around the country. Consequently, and for as long as visibility remains at this uncertain level, the Group cannot provide specific revenue and profitability objectives.

Thanks to a very solid financial position, with zero financial debt and net cash at the end of the 2019 financial year of €74.6 million, Infotel has the necessary resources to get through this crisis. Nevertheless the Board of Directors has decided that it will no longer propose a dividend of €1.60 per share for the 2019 financial year. A new dividend proposal will be submitted to the Shareholders’ Meeting of 20 May 2020.

General meeting behind closed doors

Given the uncertainties resulting from the current context linked to Covid-19, the General Meeting of May 20, 2020 at 2:30 p.m. will be held at the registered office, without the physical presence of the shareholders.

Upcoming event:
Publication of Q1 2020 revenue: 20 May 2020

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. Infotel posted revenue of €248.4m in 2019 and employs over 2,500 people.



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


  • 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.


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


  • 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.


Automatic processing of receipts, bills and other financial documents.


  • 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.