| In millions of euros IFRS standards (*) | 2010 | 2009 | VAR |
| Turnover | 102.5 | 94.2 | +8.8 |
| Current operating profit | 6.3 | 3.6 | +74.1 |
| As a% of turnover | 6.2% | 3.8% | |
| Other operating income and expenses | (1.2) | (0.6) | |
| Operating income | 5.1 | 3 | +71.7 |
| Net profit | 4.2 | 2.5 | 72.2% |
| In% of C | 4.1% | 2.6% |
REGULAR AND DYNAMIC GROWTH
Driven by its positioning of high value-added services and innovative services in the fields of Business Intelligence, Web & IT and ERP, Micropole achieved during its 2010 financial year a turnover of 102, € 5 million, up + 8.8% (+ 6.8% at constant scope and exchange rates). The last quarter of 2010 confirmed this very good trend with an acceleration in sales which increased by 10.1% compared to the fourth quarter of 2009.
BETTER THAN EXPECTATIONS
This good level of activity, recorded over the entire financial year and across all of the group’s activities, resulted in a 74.1% increase in current operating income. The current operating margin reached 6.2%, up 2.3 points over 12 months.
Operating profit was up 71.1% to reach € 5.1 million, or 5.0% of sales. This level of income is all the more appreciable as it includes € 0.9 million of non-recurring charges, linked to the regrouping of all the Parisian entities on the new Levallois-Perret site.
In the end, after taking into account a stable financial result at -0.3 M € (vs. -0.2 M € in 2010) and a tax charge of 0.6 M € including the recognition of CVAE for € 0.5 million, net income stood at € 4.2 million, up 72.2% compared to the previous year.
A FINANCIAL SITUATION STRENGTHENED BY THE STRONG GENERATION OF CASH FLOW
The good level of profit recorded in 2010 made it possible to increase the group’s equity to more than € 57 million (vs. € 53 million) and to have a positive net cash position at the end of 2010 of € 0.7 million ( cash flow of € 16 million) against net debt of € 1.1 million at the end of 2009. The increase in cash flow also took place in a context of strong investment in the industrial tool and the implementation a share buyback program of over one million shares (€ 0.9 million).
SOLID GROWTH PROSPECTS IN 2011
Driven by strong commercial activity and innovative projects in many fields (Life Sciences, MDM, Sustainable IS, Extended Business Intelligence, Search Based Applications), 2011 is looking good. The merger with the Belgian company OASIS Consultants, a Gold SAP partner, also ensures the strengthening of Micropole’s presence on the northern European markets (Belgium, Luxembourg, and Holland).
The group is therefore engaged in 2011 on several priority projects:
A proactive recruitment policy for 450 employees,
The strengthening of international activity, which currently represents a little more than 20% of total turnover, and which is a necessity as much for the positive contribution on the group’s margins as for the capacity of Micropole to support its clients in the deployment of their projects. This expansion policy will be based on targeted external growth operations which will concern the most economically dynamic geographic areas in Europe but also, depending on the opportunities, on other continents.
A NEW 3-YEAR DEVELOPMENT PLAN, 2013 DEADLINE
The group intends to pursue its development strategy over the next three years by targeting a turnover of € 150 million at the end of 2013 while strengthening its status as a specialized player, focused on high added value services and a leader in its markets. .
Based on a very good industrial positioning and a recognized image of quality, this development strategy will be based on 3 main axes:
Balanced and strong growth around the 3 current activities with a dissemination of business expertise and technological skills throughout the current and future geographic coverage of the group;
The opening of new activities in addition to current offers and meeting the same criteria of specialization and added value;
A policy of external growth in France and internationally consistent with the strategy.
“After a very positive year for Micropole in 2010, we are also anticipating significant organic growth in 2011. The financial resources at our disposal will also enable us to pursue a policy of dynamic external growth, in order to achieve the objectives of our plan to three years. However, all of our development will remain based on our differentiation strategy, which is the real key to our growth in the years to come. » , Comments Christian Poyau, Chairman and CEO of Micropole
HIGHLIGHTS IN 2010
The group’s historical activities (BI and Web & IT) generally performed well in the face of a still contrasting economic situation in the first half of the year.
Business Intelligence posted a 10% increase in turnover. The year 2010 was marked in particular by the signing of several major projects / clients, particularly in the banking and automotive sectors. In addition, major trends have been observed around the evolution of historical BI platforms, the advent of Agile BI (with new technological ranges and new methods of project implementation), the priority of organizations given to EPM (Enterprise performance Management).
The Web & IT activity, which brings together E-commerce and business applications, also posted sustained growth of 10% in 2010 with the signing of new projects / clients in the field of services.
ERP activity suffered during the first part of the year from weak market dynamism but benefited from a reversal in the last quarter. This year of transition has been the framework for several partnerships, in particular with Exalead for the development of Search Based Applications (SBA). Micropole strengthened its ERP offer in the Rhône-Alpes region and implemented several national projects around SAP software.
The Training activity has been strengthened around the implementation of e-learning projects (creation of new HRIS and training, creation of modules and educational content).
Finally, the Group’s development was marked by the opening of the Lille branch, thus supplementing its coverage in the North region. At the end of 2010, the Micropole Group had a real European dimension, with 9 sites in France, 3 in Switzerland, 1 in Belgium and 1 in Holland. 22% of 2010 turnover was achieved internationally.
