ACQUISITION OF AWAK'IT STRENGTHENS POSITIONS IN DIGITAL
Saint-Ouen (France), 11 February 2014 - In the fourth quarter of 2013, Gfi Informatique recorded revenue growth of 2.1% to €201.7 million. Over 2013 as a whole, revenue rose 11.3% to €742.7 million with a 15.6% increase in France.
| € million | Q4 2013 | Q4 2012 | Change % | Like-for-like growth [1] |
| France | 171.8 | 167.0 | +2.9% | +0.5% |
| International | 29.9 | 30.7 | -2.3% | +2.1% |
| Q4 REVENUE | 201.7 | 197.7 | +2.1% | +0.7% |
| € million | 31 December 2013 | 31 December 2012 | Change % | Like-for-like growth 1 |
| France | 631.8 | 546.5 | +15.6% | +1.8% |
| International | 111.0 | 120.7 | -8.2% | -6.1% |
| FULL-YEAR REVENUE | 742.7 | 667.3 | +11.3% | +0.4% |
Commenting on these results, Vincent Rouaix, Chairman and Chief Executive Officer of Gfi Informatique, said:
"By delivering revenue growth in France of 6.1% in 2011 followed by 10.0% in 2012 and 15.6% in 2013, Gfi Informatique achieved its goal of developing an economic growth model that is robust and creates value, with the right combination of steady organic growth and targeted acquisitions that are efficiently integrated. The strengthening of the Digital business through the takeover of Awak'IT further reinforced Gfi Informatique's image as an innovative company in a new market segment, after establishing positions in Outsourcing and the Cloud."
Sustained growth in France in the fourth quarter: +2.9%
France: revenue rose 2.9% in Q4, and was up 0.5% on a like-for-like basis. Full-year revenue growth reached 15.6% and 1.8% on a like-for-like basis.
Gfi Informatique's results in the fourth quarter of 2013 were outstanding given that the comparison basis was unfavourable in terms of business days (-1 day).
France is the Group's growth engine, representing 85% of consolidated revenue, and GFI Informatique continued to win major contracts there, strengthening its position among the leading digital services companies on the market. Noteworthy deals included Tests and Mainframe services center for Société Générale, facility management for Thales Alenia Space and outsourcing of E commerce solution for Yves Rocher.
The robust growth recorded in France (in spite of a challenging economic environment) allowed Gfi Informatique to post a very favourable book-to-bill ratio of 1.15. A steady improvement in the quality of contracts, together with continued progress in industrialisation, translated into a further rise in the average daily rate, up €19 (excluding SW) from the 2012 level. The activity rate was very buoyant during the quarter, rising 0.4 point year-on-year.
International: Like-for-like growth inches back into positive territory
Revenue generated outside France during the fourth quarter came to €29.9 million, up slightly (+2.1%) from the year-earlier period. Over the year as a whole, revenue totalled €111.0 million, down 6.1% like-for-like.
- Southern Europe: After several quarters of declines, Spain delivered revenue growth of 3.3% in the fourth quarter, and in Portugal the like-for-like decline narrowed to 1.8%. Conditions there are slightly less challenging than before.
- Northern Europe also returned to growth (+6.9%) during the quarter and was more or less flat over the full year, even though projects were often postponed.
- Morocco was faced with a challenging local trading environment and did not land expert contracts during the quarter to offset a decline in the domestic market. The company is nonetheless taking action and working on expanding into other French-speaking African countries.
Acquisition of digital communication specialist Awak'IT
Late in January, Gfi Informatique acquired 100% of Awak'IT, a consultancy offering global digital, corporate and HR communication services to large firms. Awak'IT has recognised expertise in new digital media (Web TV, intranet, mobile tablets, collaborative and social networks, e-training, etc.) and counts a number of prestigious firms among its clients, including many CAC 40 companies. Its highly qualified creative and technical teams have earned the company many awards, particularly two "TOPCOMs" with L'Oréal and Air Liquide on 6 February of this year. Through this acquisition, Gfi Informatique intends to become a leading player in the Digital market (in France) both in terms of creation and execution. The Group also plans to unlock significant commercial synergies in this booming segment.
Group targets reiterated
Gfi Informatique is reiterating its target of improving operating margin and profitability in 2013, notably in France. With a strong business outlook for 2014 and given the progress made, the Group is forecasting further organic and profitability growth this year.
[1] Like-for-like growth restated of element of business combination
Next release: 4 March 2014, 2013 full-year earnings
Disclaimer
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 considerably 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 services its clients with a unique combination of proximity, sector organisation and quality industrial solutions. The Group has around 10,000 employees and generated pro-forma revenue of €743 million in 2013.
Gfi Informatique is listed on the Paris Euronext, NYSE Euronext (Compartment B) - ISIN Code: FR0004038099.
For more details: www.gfi.fr
ANNEXES
Full year revenue
| Sales (in euros '000) | 12 months 2013 | 12 months 20112 | Reported growth | Like-for-like growth |
| France | 631,8 | 546,5 | 15,6% | 1,8% |
| Spain | 63,2 | 67,4 | -6,3% | -6,3% |
| Portugal | 16,5 | 21,5 | -23,4% | -12,9% |
| Northern Europe * | 25,5 | 25,9 | -1,7% | -1,6% |
| Morocco | 5,8 | 5,9 | -2,3% | -1,8% |
| Total | 742,7 | 667,3 | 11,3% | 0,4% |
Quater
| Sales (in euros '000) | 4th quarter 2013 | 4th quarter 2012 | Reported growth | Like-for-like growth |
| France | 171,8 | 167,0 | 2,9% | 0,5% |
| Spain | 17,5 | 17,0 | 3,3% | 3,3% |
| Portugal | 4,0 | 5,4 | -25,6% | -1,8% |
| Northern Europe * | 6,8 | 6,4 | 7,0% | 6,9% |
| Morocco | 1,6 | 1,9 | -17,0% | -16,5% |
| Total | 201,7 | 197,7 | 2,1% | 0,7% |
| Sales (in euros '000) | 3rd quarter 2013 | 3rd quarter 2012 | Reported growth | Like-for-like growth |
| France | 147,0 | 120,7 | 21,8% | 3,6% |
| Spain | 14,5 | 15,5 | -6,6% | -6,6% |
| Portugal | 3,9 | 4,9 | -20,2% | 3,7% |
| Northern Europe * | 6,0 | 6,6 | -8,2% | -8,0% |
| Morocco | 1,1 | 1,1 | -6,4% | -9,5% |
| Total | 172,5 | 148,8 | 15,9% | 1,9% |
| Sales (in euros '000) | 2nd quarter 2013 | 2nd quarter 2012 | Reported growth | Like-for-like growth |
| France | 152,0 | 124,7 | 21,9% | 2,7% |
| Spain | 16,1 | 17,3 | -7,1% | -7,1% |
| Portugal | 4,1 | 5,7 | -27,8% | -25,8% |
| Northern Europe * | 6,5 | 6,6 | -1,2% | -1,0% |
| Morocco | 1,5 | 1,4 | 8,2% | 11,1% |
| Total | 180,2 | 155,7 | 15,7% | 0,5% |
| Sales (in euros '000) | 1st quarter 2013 | 1st quarter 2012 | Reported growth | Like-for-like growth |
| France | 161,0 | 134,1 | 20,1% | 0,5% |
| Spain | 15,1 | 17,7 | -14,5% | -14,5% |
| Portugal | 4,4 | 5,5 | -19,5% | -19,5% |
| Northern Europe * | 6,2 | 6,4 | -4,2% | -4,1% |
| Morocco | 1,6 | 1,5 | 9,8% | 11,5% |
| Total | 188,4 | 165,2 | 14,0% | -1,9% |
| * Belux, Switzerland |
| For information, please 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 HERIARD DUBREUIL Tel.: +33 1 56 43 44 62 alix.heriard@keima.fr |
