SQLI : 2011 first-half sales are on-budget, confirming a steady improvement to the current operating margin
For the first half of 2011, SQLI's sales revenues amounted to €85.1 million, compared with €86.3 million for the same period of fiscal 2010. This level of business is wholly in line with the Group's budget.
By refocusing on more value-added business (through the deconsolidation of SQLI Poitiers on 31 December 2010 and of SQLI Méditerranée on February 28), sales revenues inevitably decreased, but this was partly offset by the integration of the Belgian agency WAX! Interactive in March 2011 together with a positive sales momentum. On a comparable basis, business has grown slightly (+2%) since the beginning of the year.
The engineering business is growing globally, building on a favorable market, recurrent key customers, and a number of refocusing measures.
SAP business slowed down due to difficulties in the second half of 2010 to which the Group reacted by reorganizing its Belgian business and introducing tighter contract management procedures in France. These measures should bear fruit in the second half of 2011.
The web agency business was stronger in the provinces than in Paris. The Group is trying to leverage its technical assets as markets evolve, giving the Internet a growing role in advertising.
The Group's workforce decreased due to changes in scope. On June 30, 2011, SQLI had 1,810 employees compared to 1,897 in December 2010. Departures during this period have been offset by a selective approach to hiring based on the Group's strategy.
Business during the first half year was marked by the signing of major contracts in the fields of healthcare (especially regional IT platforms in Martinique and Haute-Normandie) and e-business (including a European B2B site for Groupe Air Liquide's Health and Industry entities, and a market-place for Royal Canin). In addition, the incorporation of WAX! Interactive led to an e-commerce contract involving several Group entities, underscoring the strategic value of the transaction and the potential of business synergies.
By controlling management indicators (a slight increase in the activity rate and average daily rate) and introducing cost-reduction measures, SQLI gradually improved its operational performance. The Group expects a higher current operating income in the first half of 2011 than for the whole of 2010 (€ 2.6 million).
SQLI will issue its 2011 first half-year figures on September 27 2011 after the Bourse closes.
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About Groupe SQLI: Founded in 1990, SQLI is a supplier of services for innovative internet technologies and new SAP products. The Group is a one of the major French players in its sector.
It has a number of agencies in France (Paris, Lyon, Toulouse, Bordeaux, Dijon, Rouen and Nantes) and abroad (Switzerland, Luxemburg, Belgium, the Netherlands and Morocco).
With a workforce of nearly 2,000, SQLI posted sales of €170 million in 2010. Since July 21 2000, SQLI has been listed on the NYSE Euronext in Paris (FR0004045540 - SQI). www.sqli.com
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