|Current operating margin||13.0%||13.0%|
|Group's share of net profit||6.2||4.6||+33%|
At the end of the 2006/2007 financial year (ended on 31 March 2008), Solucom achieved consolidated turnover of EUR73.0m, up 38% on 2006/2007. During the financial year Solucom posted high, organic growth of 21%, and benefited from full year contributions from New'Arch, KLC and Vistali.
Staff increases by 27% in 2007/2008
The contribution of Vistali employees and continued heavy investment in recruiting let the Group post an annual growth in its staff of 27%, 18% if not counting Vistali at 1 April 2007. At 31 March 2008 Solucom had 666 employees, as against 524 a year earlier.
Top of the range achieved: 13% operating margin in 2007/2008
The 2007/2008 financial year was marked by the Group's favourable operational indicators. The significant increase in the average sales price, already noted at the end of the first half, continued through the second half of the year. The daily rate came to ¤ 726 in 2007/2008, up 5% on the previous financial year. Efficiency rates remained high, in line with normative levels at 84%.
In this context current operating earnings in 2007/2008 were up 38% to ¤ 9.5M. The operating margin was 13%, the top end of the range initially envisaged for the entire year, confirming the success of the merger with Vistali.
The Group's share of net profits came to ¤ 6.2M, up 33%, representing a comfortable net margin of 8.5%.
At 31 March 2008 Solucom had net cash of ¤ 5.4M, prior to the acquisition of Cosmosbay~Vectis, with shareholders' equity at ¤ 25.8M. Solucom will be recommending at its Shareholders' General Meeting on 26 September 2008 the payment of a dividend of ¤ 0.19 per share, up 36% on the previous year.
Success of the 1st stage of the 3-Year Plan
The sales successes recorded in 2007/2008 and the excellent financial results let the Group close off as a success the 1st stage of the 3-Year Plan, which seeks to make Solucom one of the Big 5 IT consulting companies in France by 2010.
Integrating Vistali strengthened the Group's success as the French leader in SOA consulting. At the same time, the Group continued to establish its position in the field of governance, posting rapid sales growth in a strong market.
The acquisition of Cosmosbay~Vectis at the start of the 2008/2009 financial year lets Solucom speed up the consolidation of its position in every area of IT consulting, by complementing its traditional skills while providing the Group with new skills areas such as consulting on trade portals and e-business, as well as management consulting.
2008/2009: a new year of sustained growth
Within a business environment that remains dynamic, despite the climate that was dampened by the financial crisis and global economic difficulties, Solucom intends pursuing its profitable growth strategy in 2008/2009.
The successful integration of Cosmosbay~Vectis, through the fast realization of sales and operating synergies, will be the central priority for Solucom in the period. In parallel, the Group plans staying on course on growth by speeding up its positioning in the governance field and emphasising its commercial investments. To support all this, recruiting and retaining the loyalty of staff will remain one of the Group's central preoccupations.
And lastly, 2008/2009 will be characterised by an ambition, to exploit the Group's new scale to let it change both its image and status in the eyes of its clients.
Turnover ¤ 105M and operating margin of 10% - 12% in 2008/2009
Solucom has set itself the target to achieve turnover of ¤ 105M by consolidating Cosmosbay~Vectis for the twelve months, and to deliver an operating margin of between 10% and 12%.
Upcoming dates: Q1 2008/2009 turnover, on 29 July 2008 (after close of trade).
Solucom: IT to serve our clients' performance results
Solucom is an IT consultancy.
Solucom also gives advice to large corporations regarding their IT systems strategies, and assists them in defining and steering their IT projects. Upstream, Solucom also gives advice to companies and telcos for their marketing strategies, business performance, and core business transformation projects
Its positioning is summarised by its mission statement: IT to serve our clients' performance results.
Solucom is the partner of the largest French companies in their national and international projects:
Air France-KLM, Alstom, ANPE, AP-HM, Banque de France, BNP Paribas, Bouygues Telecom, Carrefour, Crédit Agricole, EDF, Gaz de France, La Poste, L'Oréal, Ministries of the Economy and Finance, of National Education, and of the Interior, MMA, Neuf Cegetel, Orange, RTE, Sanofi-Aventis, SFR, SNCF, Société Générale, Suez, Total.
Solucom was awarded the "innovative company" qualification by OSEO Innovation.
Solucom is listed on compartment C of the Paris Euronext market of NYSE Euronext.
ISIN code: FR0004036036 - LCO; ICB: 9533 - Services Informatiques
All of our financial information is published on www.solucom.fr
Chairman of the Board
Phone: : +33 (0)1 49 03 25 00
Phone: : +33 (0)1 49 03 25 00
Analyst & investor relations
Phone:: +33 (0)1 72 74 81 87
Phone:: +33 (0)1 77 35 04 37
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