|
In million Euros (m€) (1)
|
2007
|
2006
|
Var.
|
Q4 2007
|
Q4 2006
|
Var.
|
|
Turnover
|
370
|
267
|
+39%
|
112.5
|
80.8
|
+39%
|
|
Operating margin (2)
|
31.3
|
22.4
|
+40%
|
12.6
|
8.3
|
+51%
|
|
In % of Turnover
|
8.5%
|
8.4%
|
11.2%
|
10.3%
|
(1): non-audited figures
(2): current operating profit excluding the impact of stock options and amortization of intangible assets resulting from acquisitions
In 2007, Devoteam achieved 370M€ in revenues, 17% organic growth and an 8.5% operating margin, up 40%. At present, the Group has 3,950 employees in 20 countries and carries out 45% of its activities outside France.
4th Quarter Performance
The last quarter of 2007 saw a growth of 39%, of which almost half was organic. The Group's workforce increased by 260 persons: 110 new recruits and 150 persons joining Devoteam through an outsourcing contract with Nokia Siemens Networks.
The operating margin rose to 11.2% for the quarter and was driven by an increase in activity, a favorable calendar effect and a growing international business. The Group's gross cash position was brought back to 60 m€ at the end of the year. The full year audited accounts will be published on March 12, 2008.
Important facts
Analysis per business line:
After having broken into the Swiss and Italian markets in the area of IT Service Management (ITSM) in 2007, the Group will henceforth extend this offer to the Scandinavian, Middle-East and Eastern European markets. In this field, Devoteam has recently won a major IT implementation contract for the Total Group as part of its project to harmonize its IT production capabilities.
Analysis per vertical client sector:
The energy sector is particularly dynamic in the 4th quarter with the implementation of a Weblog application intended to create knowledge communities for a Dutch energy supplier and an automatic meter reading application project (machine to machine) in Norway.
The public sector was notably marked by a new framework contract with the Swedish government, an IT governance project for the Norwegian Immigration Ministry and an outsourcing contract for the European institutions (Luxembourg).
The telecom and medias sector (33% of turnover) continues to invest significantly; Devoteam has recently won several innovative projects with such new customers as Italtel, AOL, Telenor, TMobile and Vodafone. The successful integration of auSystems has made it possible to structure Devoteam's Telecom offer, hence allowing the signing of the contract with Nokia Siemens Networks. The Group now has a unique striking power in Europe in the areas of IPTV and convergence.
Despite some turbulence, the financial sector (22% of turnover) has remained very active this quarter with new projects in France (Natixis, Axa, BNP Paribas) and in Benelux (Fortis, ING).
Analysis by activity sector:
|
Turnover
|
France
|
International
|
Business
Consulting
|
Technology Consulting
|
|
FY 2007
|
205
|
165
|
75
|
295
|
|
FY 2006
|
174
|
93
|
62
|
205
|
|
Growth
|
+18%
|
+78%
|
+20%
|
+44%
|
In million euros (m€)
In line with its strategy, Devoteam has maintained its international development plan and revenues outside France now represent 45% of the Group's total revenue (organic growth of 23%). Entities with the highest growth rates are Austria, Czech Republic and the Middle East. In comparison to 2006, organic growth in France is stable at 13%.
The strengthening of the Technology Consulting Division (Solutions) was significant in 2007 (+44%), particularly due to the acquisitions (auSystems) and outsourcing contracts in France, Belgium and Spain.
The Business Consulting division achieved an organic growth of 20% in 2007.
The operating margin is stable at around 11% for the Business Consulting and International divisions; the increase in profitability being mainly noted in the France and Technology Consulting divisions.
Sustainable development
In terms of sustainable development, two main actions have been conducted:
- one year after the launching of the Devoteam Charter, a study entitled « Great Place to Work » has been carried out to better meet the expectations of the group's employees ;
- a best practices guide (Green Guide) was offered to all the group's employees (available on-line at www.devoteam.com ).
Perspective 2008
The market remains dynamic and despite uncertainties, Devoteam forecasts a turnover of 430 M€ and an operating margin of almost 9% in 2008. |
