PRESS RELEASE
GFI INFORMATIQUE
GFI INFORMATIQUE FINALISES SALE OF ITS CANADIAN OPERATIONS
Saint-Ouen (France), 8 March 2012 - Gfi Informatique has just finalized the sale of its 62.4% holding in Gfi Canada and its subsidiaries to Investissement Québec and Capital régional et coopératif Desjardins, in association with the existing minority shareholders, which are the management (Magrit Group) and the Fonds des Travailleurs du Québec (FTQ) solidarity fund.
The transaction will help to ensure the continuity of the Canadian group's development strategy and management.
The transaction is a part of Gfi Informatique's strategy of refocusing its activities, as presented in the strategic plan in the second half of 2009. Due to the Canadian activities' shareholding structure and portfolio of businesses, they had no commercial and technical synergy with the rest of the Group.
The transaction provides Gfi Informatique with CAD 75 million, or about €56 million, of which €46 million will be received immediately and the balance in 18 months. The impact on the company's 2012 consolidated financial statements is a positive addition of about €3 million to earnings. As from 2011, in application of IFRS 5, the Canadian businesses will be treated as assets held for sale.
The businesses sold had 2011 revenues of €65.7 million, including €33.4 million in the year's first half. Their first-half operating margin was €4.7 million, and their consolidated net profit (attributable to the Group) was €1.2 million.
This transaction helps Gfi Informatique to take on additional resources to accelerate its development and pursue its targeted acquisition strategy.
Next meeting: 14 March 2012 - announcement of 2011 annual results
Notice:
The items in this press release other than historical facts are estimates. They do not constitute guarantees because of the inherent difficulties in forecasting results. Actual results may differ significantly from explicit or implicit forecasts.
About Gfi Informatique
Gfi Informatique is a major player in value-added IT services and software in Europe, and occupies a strategic position in its differentiated approach to global firms and niche entities. With its multi-specialist profile, the Group serves its clients with a unique combination of proximity, sector organisation and quality industrial solutions. The group has more than 8,490 employees and had 2011 revenues of €618.1 million. Gfi Informatique is listed on the Paris Euronext, NYSE Euronext (Compartment B) - ISIN Code: FR0004038099.
For more information: www. gfi.fr
About FTQ
The Fonds de Solidarité FTQ is a labour-sponsored venture capital fund that calls upon the entire Quebec population for savings and solidarity. Its overriding mission is to contribute to creating and maintaining jobs in Quebec by investing in small
and mid cap companies. It also aims to provide its owner-shareholders with a reasonable return. It is the only institution with a mandate to achieve this balance, which is a core principle of a union-backed venture capital company.
For more information: www.fondsftq.com
About Investissement Québec
Investissement Québec's mission is to foster the growth of investment in Québec, thereby contributing to economic development and job creation in every region. The Corporation offers businesses a full range of financial solutions, including loans, loan guarantees and equity investments, to support them at all stages of their development. It is also responsible for administering tax measures and prospecting for foreign investment.
For more information: www.investquebec.com
Investissement Québec 1 866 870-0437
About Capital régional et coopératif Desjardins
Capital régional et coopératif Desjardins, this year celebrating its 10th anniversary, is a publicly traded company managed by Desjardins Venture Capital. With close to 107,000 shareholders and net assets of $1,220.4 million, the Company contributes to Québec's economic development while driving the growth of cooperatives and the resource regions. Capital régional et coopératif Desjardins directly and indirectly supports close to 300 companies, cooperatives and funds in various industries spanning all Québec regions.
For more information: www.capitalregional.com
For more information, contact:
GFI INFORMATIQUE
Administrative and Financial Director - Cyril Malher
Tel. +33 1 44 04 50 64 - cyril.malher@gfi.fr
KEIMA COMMUNICATION
Investor Relations - Emmanuel Dovergne
Tel. +33 1 56 43 44 63 - emmanuel.dovergne@keima.fr
PRESS RELATIONS
Alix Hériard
Tel. +33 1 56 43 44 62 - alix.heriard@keima.fr
