SOLUCOM : Dynamic growth in H1 2015/16 revenues: +25% of which 16% like-for-like
(unaudited consolidated data)
|2015/16||2014/15||Like-for-like change (1)||Total reported change|
(1) excluding Audisoft Oxéa (consolidated since 01/11/14), Hudson & Yorke (consolidated since 01/3/2015) and Hapsis (consolidated since 01/04/2015)
At 30 June 2015, Solucom posted consolidated Q1 2015/16 revenues of €46.5m, up 25% on Q1 2014/15.
On a like-for-like basis, excluding the contributions from Audisoft Oxea, Hudson & Yorke and the Hapsis assets, revenues advanced 16% over the period.
This figure does however include the contribution from PEA Consulting's industrial assets. Consolidated in Solucom's accounts as of 1/10/14, this entity generated revenues of €0.8m in H2 2014-15. Its revenue contribution ceased to be booked separately as of 1 April 2015.
Improvement in the average daily rate
In Q1 2015/16, the consultant utilisation rate came out at 83%, stable on full-year 2014/15.
The average daily rate rose sharply over the three-month period to €741 from the full-year level of €718 in 2014/15. This 3% improvement stemmed from the integration of the companies recently acquired by the Group as well as from favourable like-for-like trends in prices.
Visibility remains limited with the Q1 2015/16 order book standing at 3.3 months, stable on the level reported in 2014/15.
Solucom's financial position remains extremely solid, even after the acquisitions of Hapsis and Arthus Technologies. As such, the Company still has ample financial resources to seize other external growth opportunities should they arise in the future.
Further growth in staff levels in Q1 2015/16
At end-June 2015, the headcount totalled 1,562 employees, up 3% on the end-March 2015 level of 1,514. This increase in staff numbers includes the addition of 36 employees stemming from the acquisition of the assets of Hapsis on 1 April 2015.
For the time being, the staff turnover rate is still low, despite a certain degree of human-resources tension that is beginning to emerge due to the recovery in the market. At the end of June 2015, the staff turnover rate stood at 10% for the twelve-month period, stable on full-year 2014/15.
Full year guidance confirmed
Solucom has confirmed its full-year financial forecasts and is targeting revenue growth in excess of 12%, excluding Arthus Technologies, and operating margin on ordinary activities of between 11% and 13%.
In light of brisk business levels recorded since the beginning of the 2015/16 fiscal year and the acquisition of the Swiss consulting firm, Arthus Technologies, consolidated in Solucom's accounts as of 1 July 2015, Solucom will be raising its revenue growth objectives when it publishes its H1 2015/16 results.
Next publication: 21 October 2015 (after market close), publication of 2015/16 interim revenues.
Solucom is a management and IT system consulting firm.
Solucom's clients rank among the top 200 major companies and local authority bodies. To serve its clients' needs, Solucom has access to a network and the collective skills of more than 1,500 employees.
The Group's mission is to place innovation at the heart of business, target and steer value-creating transformations and turn IT systems into real assets designed to serve corporate strategy.
Solucom is listed on Euronext Paris and integrated in the Tech40 index. In addition, the group is eligible to benefit from the PEA-PME share-savings plan and was awarded the "Innovative Company" label by the French public investment bank, BPIFrance.
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