|million euros - IFRS|| S1
|Current operating profit||2,2||2,1||4,3||3,2||34%|
|as % of turnover||4,8%||4,6%||4,7%||4,1%|
|Other operating income and expenses||(0,2)||(0,2)||(0,4)||(0,4)||-|
Micropole-Univers, a European consultancy and services company specialising in the fields of Business Intelligence, E-Business, CRM and ERP, posted a 2008 current operating profit of 4.3 million euros, or 4.7% of turnover, up 34% on 2007.
An 18% increase in year-on-year turnover combined with continued improvement in productivity, boosted the operating profit to 3.9 million euros. Net profit for the year showed a 59% increase, at 2.7 million euros compared to 1.7 million in 2007.
At the end of 2008, the group’s equity capital amounted to 50.3 million euros and its debt ratio stood at virtually zero, with 0.8 million euros of medium and long term debt. The group had 12.2 million euros in cash, its operations having generated cash flow of nearly five million euros over the year.
Micropole-Univers intends to pursue the development plan launched in early 2007 which has proved to be highly appropriate in financial terms, with the results showing a very marked upturn over the last two years.
All Micropole-Univers’ divisions showed strong development in 2008 in line with objectives, with EBusiness displaying notable progress.
Micropole-Univers recently acquired a 100% stake in Isartis, an IT systems consultancy firm founded in 2002, which specialises in SAP packages.
This acquisition was paid for in cash, with a supplementary payment linked to performance criteria in terms of turnover and profitability. The company will be consolidated in Micropole-Univers’ accounts as of April 1st 2009.
Isartis has a 2008 turnover of 3.5 million euros (financial year closing on June 30th), operating profitability of 17%, and over 40 references in SAP integration projects to its name, and so this external growth operation brings significant development leverage to Micropole Univers’ ERP business.
Isartis has a team of around thirty consultants, and is a special SAP partner on training for the SAP France centre. It is the leading supplier of skills in terms of number of days sold for SAP’s Consultancy arm, and is also a AVD (Added Value Distributor) for the sale of SAP licences in the SME/SMI sector.
“There is genuine synergy in the merger of Micropole-Univers and Isartis in both industrial and business terms. The group contributes its commercial strength, its brand image and its major account presence. These various points, allied to the high level of skill acquired by Isartis’ teams around our ERP SAP solution, will enable us to accelerate business growth in the coming years,” conclude Michael Perrin and Christophe Collignon, co-founders of Isartis.
Prospects for 2009 are difficult to predict. But based on an industrial business model which continues to prove its worth, Micropole-Univers’ business should continue to display moderate organic growth in a market which, according to the latest Syntec Informatique estimations, is indicating zero growth.
The company will pursue the development of its business, underpinned by a number of strong points:
Micropole-Univers is also keeping a close eye on external growth opportunities in Europe (Benelux, Germany and German-speaking Switzerland), with the Group targeting profitable medium-sized companies positioned on high value-added services.
“While keeping a close watch on a market which is both uncertain and complex, we remain positive and dynamic. We are pursuing our business development serenely, while taking care to continue the diversification of our portfolio in different business sectors,” says Christian Poyau, Chairman and CEO of Micropole-Univers. “In order to develop the Group’s turnover, we will not hesitate to consider external growth operations internationally.”