A NOVO : 2006/2007 third quarter revenues


Third quarter revenues came to ¤76.8M, compared with ¤72.3M¤ for the same period one year earlier, an increase of 6.3%.

Given the discontinuation of the remaining "non-core" business (assembly in Malaga) in June 2007, growth in core businesses was 8% for the quarter and at 9% on a constant scope basis, (i.e. excluding the disposal of a subsidiary in the United Kingdom AMS* in late April and the integration of the "On Site" business of Multimedia Market as of April 1, 2007) in line with our expectations.

The table below shows revenue trends based on the new segmentation**:

in ¤M Q3 2006/2007 Q3 2005/2006 Change
Mobility 36.2 36.3 0%
Access 27.6 24.3 +14%
Display 11.3 9.0 +26%
Total Core 75.2 69.6 +8%
Non Core 1.7 2.7 -37%
Total 76.8 72.3 +6.3%

The Strategic Business Area (SBA) "Mobility" reported moderate growth for the quarter. On a constant scope basis, growth would have been 3%, for two principal reasons:

  • In the United Kingdom, O2 renewed the current contract for a period of four years but also integrated all of its logistics flows through a single platform. This operation temporarily penalizes business in this country.  
  • In the United States, A NOVO Americas, always eager to prioritize added-value services, moved to a new facility in Fort Worth, Texas. This move led to a temporary decline in revenues. At this occasion, our principal contracts with VERIZON, ASURION and SAMSUNG were renewed.

Current EBIT margin will nevertheless show improvement over the full year.

The "Access" SBA continues to grow in all countries and for all clients. In France, revenues have stabilized and should begin rising again in the quarters to come. EBIT for this business has thus returned to the level reached in the same quarter one year earlier.

The "Display" SBA continues to post significant growth. EBIT rose substantially over the quarter and should reach breakeven in the course of the first quarter of 2007/2008.

Accordingly, for the full year 2006/2007, A NOVO confirms its revenue and earnings guidance.

* AMS has developed a hands-free kit business for vehicles that generated revenues of ¤3.3M over the first semester.
** From now on, the company's financial reporting is organized around three principal Strategic Business Areas (SBA). The "Mobility" SBA includes cell phones and other "smart phones". The "Access" SBA includes decoders and network access. The "Display" SBA includes PCs, monitors and flat screens.

An analysis of revenues based on the previous reporting format is presented below:

in ¤M Q3 2006/2007 Q3 2005/2006 Change
Multimedia * 34.7 29.0 +20%
North 14.2 12.0 +19%
South 20.5 17.0 +21%
Telecom ** 40.4 40.6 -
North 25.4 27.1 -6%
South 15.0 13.5 +12%
Total Core 75.1 69.6 +8%
Non Core 1.7 2.7 -37%
Total 76.8 72.3 +6,3%

* Multimedia includes Videocom (decoder, set-up box) as well as flat screens and computers.
** Telecom includes mobility and the infrastructure and network businesses.

About A NOVO

With revenue of ¤293.8 million and 4,700 employees, A NOVO is the leading pan-European provider of maintenance and customisation services for the digital technologies used by major Telecommunications and Multimedia companies to deliver Triple Play (Voice/Data/Image) solutions. A NOVO runs 16 American and European Centres of Excellence, and handles a high product turnover with an acknowledged level of quality.

For more information, please visit our website: www.a-novo.com


François Lefebvre, CFO
Tel: +33 (0)1 58 17 00 81
Marc Thoumyre, Communications
Tel: + 33 (0)1 58 17 00 88

ESIN Codes: FR0004152593 (shares), FR0000181174 (OCÉANE convertible bonds), FR0000341174 (ABSA), Bloomberg Code: NOVO FP; Reuters Code: ANOV.L

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