Revenues up nearly 15
50% increase in net income
| In millions of euros - IFRS (*) | June 30, 2011 | June 30, 2010 | |
| Sales figures | 58,1 | 50,7 | |
| Current operating income | 2,8 | 2,6 | |
| As a % of sales | 4,9 % | 5,1 % | |
| Other operating income and expenses | (0,1) | (1,1) | |
| Operating income | 2,7 | 1,5 | |
| Taxes and financial expenses | (0,8) | (0,2) | |
| Net income | 1,9 | 1,3 |
(*) Audited figures
In line with its expectations, Micropole Group recorded a clear increase in its revenues and strong growth in its net income during the first half of 2011. The Group has therefore fully achieved its objectives for the first half of 2011 and remains confident for the second half.
Sales and commercial activity
Micropole posted consolidated revenues of €58.1 million in the first half of 2011, representing growth of almost 15% compared to the first half of 2010. On a like-for-like basis, growth was 9.1%, driven by the dynamism of all the group's activities, namely Business Intelligence, e-Business (e-commerce sites, web application development, etc.) and ERP. Demand for Business Intelligence is strong, particularly for budgeting and financial management solutions, a field in which Micropole is the European leader.
This performance was accompanied by a balanced distribution between the various geographic zones, with international sales now accounting for nearly 25% of total revenues.
The first half of the year was also marked by a strong investment in recruiting and retaining our employees in order to achieve the ambitious growth objectives that Micropole has set itself, in a recurring context of strong skills shortages. Thus, while maintaining a stable turnover rate compared to the previous period, more than 200 new employees have already joined the group during this half-year.
Net income up sharply by nearly 50%.
Micropole recorded a current operating income of €2.8m in the first half of 2011, up by more than 10% compared to the same period in 2010. In addition to its recruitment efforts, the group has maintained its investments in brand awareness through numerous marketing and communication actions with its prospects, clients and partners.
Net income amounted to €1.9 million, up 50% compared to 2010. The group recalls that in 2010 it had recorded a provision for a non-recurring and exceptional expense of €0.9m, following the transfer of all its Parisian consulting and engineering teams to the single site in Levallois-Perret.
Finally, from a financial point of view, Micropole's fundamentals remain sound with a stable cash position compared to the previous period of €9.3m, and shareholders' equity of €54.1m. Taking advantage of its solid structure, the group has also carried out a major share buyback program for a total of €2.5m, followed by the cancellation of treasury shares.
H2 2011 Outlook
Despite the uncertainties linked to the current macro-economic situation, business forecasts for the second half of 2011 remain satisfactory to date. The Group obviously remains vigilant with regard to developments in the global economic environment.
" We continue to enjoy a positive external and internal growth dynamic, bolstered by our client portfolio, the vast majority of which is international in scope, and by our recent acquisitions in January of the Belgian company Oasis Consultants, and in June of the Chinese company Easteq and the digital agency Wide. We are continuing to study the acquisition of teams and companies in France and abroad, in line with our long-term strategy," commented Christian Poyau, Chairman and CEO of Micropole.
