Shareholders
Press Release
Paris, 2 august 2007
PRESS RELEASE
First-half 2007 revenue: 331.9m
Organic growth: 6.7%
Revenue |
First half 2007 |
First half 2006 |
Overall growth |
Organic growth |
France |
212.9 |
216.9 |
-1.8%* |
3.2% |
International |
119.0 |
102.9 |
15.6% |
13.7% |
Total |
331.9 |
319.8 |
3.8% |
6.7% |
* changes in the consolidation scope include the cessation in mid-2006 of an equipment resale business which generated 10 millions euros of revenues in the first half of 2007.
Message from Jacques Tordjman, Chairman and CEO:
“Our group has continued to post solid growth, particularly in its international activities. The pace of activity stepped up in the second quarter, with organic growth reaching 7.1%.
The group has demonstrated its commercial dynamism and its ability to reach the objectives set out in the 2010 business plan.
New contracts won during the first half year and the good level of recurrent activities should result in higher organic growth in France during the second half.
Internationally, the group is satisfied with the sales performance of all its subsidiaries.”
Comments on activity
France
GFI Informatique posted significant commercial successes in the first half. The Solutions business is growing, with the signature of a time management contract with Kraft Foods and a transport management contract with the Sarthe departmental authorities. The Systems Integration business bid successfully for the implementation of a project to install an Oracle integrated management system for the ICADE group. The Consulting and Electronic Payments businesses implemented a Special Payment Voucher system for Caisse Nationale des Caisses d’Epargne.
The increasing weight of the group’s Service Centres and its outsourcing activities continues to be seen in our three development axes: regional, national and offshore. All GFI Informatique’s offices are therefore taking their full part in this industrialisation process, offering adapted solutions to their customers:
- At regional level, the need for proximity is reflected, for example in the signature of major contracts in the credit insurance and pension sectors
- Nationally, the headcount at the Lille Back Office Service Centre has increased by 25% since the start of the year in order to respond to additional demand
- Offshore, Morocco has proved to be an efficient alternative and is showing constant growth with, for example, the signature of a large contract with a market leader in retail sector.
In the context of more demanding human resources requirements (recruitment, salaries) and prices, the group’s revenue remains satisfactory in line with its industrialisation strategy.
International
- Spain / Portugal: organic growth in Spain and Portugal remains strong. The group has strengthened its Electronic Payment activities in Portugal through the acquisition of Bull Portugal. The acquisition has also enabled this subsidiary to intensify its activities in the Public Sector and Banking.
- Germany / Benelux / Switzerland: these businesses confirmed their turnaround in the first half, posting increases in revenue.
- Italy: revenue is increasing thanks to the group’s activities in the Energy sector. The restructuring plan is under negotiation with employee representatives and the Italian ministry of employment.
- Morocco: the group’s offshore platform is now operational and the sales and marketing pipeline for these new activities is promising.
Headcount
At the end of June 2007 the group employed 8,654 people, up from 8,385 at end-December 2006. In France, the headcount increased by 148 over the six months to reach 5,101 people at end-June 2007. The staff turnover rate was 9.5% over the first half year at group level, and 7.6% in France.
Financial communications timetable
GFI Informatique will publish its first-half 2007 earnings on 12 September, after the Paris market closes.
For further information, please contact
Investor Relations: Bertrand Maes – Email: bmaes@gfi.fr - Tel. +33 (0)1 53 93 44 25Press relations: Martine Canaque - Email: mcanaque@gfi.fr - Tel. +33 (0)1 53 93 43 80
About GFI Informatique
GFI Informatique is a major player in the IT services sector, providing four strategic offerings: consulting, systems integration, infrastructures and production, and solutions. The group covers all stages of the information system life cycle and caters mainly for large corporates, public bodies and local authorities. GFI Informatique has 16 skills centres and 5 service centres. In 2006, the group recorded revenues of €633.1 million and employed a workforce of more than 8,000. GFI Informatique has over 40 branches in France and 9 international agencies in Southern and Northern Europe, Morocco and Canada.
