On October 27, 2008, Mr François Enaud, General Manager of the Steria Group, will temporarily take the position of CEO for France.
This change of organization in France aims at speeding up the benefits likely to result from the transformation programme initiated in 2007, at improving the international synergies and at making this geographical area substantially more profitable in 2009 through the implementation of an immediate plan of actions.
For the third quarter of 2008, the Group's consolidated revenue should post a rebound in terms of organic growth with a growth of +3.5%1 (+5%1 in France), to be compared with0.5% in the first half of 2008.
In spite of operational difficulties encountered in France in the second half-year, the Group forecasts, for the full 2008, a consolidated operating margin of 7.5% to be compared with the current consensus of forecasts at around 7.8%.
Outside of France, all of the other geographical areas continue to post performances in line with the forecasts, and the Group confirms the successful integration of Xansa, with cost synergies ahead of the roadmap and an offshore dynamics in strong acceleration.
The financial position of the Group is sound since, end of 2008, the available credit lines not utilised are estimated at approximately 200 million euros. Steria reaffirms its confidence in its ability to comply with its banking covenants on December 31, 2008.
(1): non audited figures
Steria is listed on Euronext Paris, Eurolist (Compartment B) ISIN: FR0000072910, Bloomberg Code: RIA FP, Reuters Code: TERI.PA CAC MID&SMALL 190, CAC MID 100, CAC Soft&CS, CAC Technology SBF 120 general index, SBF 250, SBF 80, IT CAC, NEXT 150 For further information, please visit our website: http://www.steria.com
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