|In million euro - IFRS (*) Norms||June 30th 2010||June 30 2009|
|Current Operating Income||2,6||1,6|
|% of turnover||5,1 %||3,4 %|
|Other products and operating expenses||(1,1)||0|
|Taxes and financial expenses||(0,2)||(0,3)|
(*) Audited figures
In line with group expectations, MICROPOLE achieved clear growth in its business over the first halfyear 2010, and saw a particularly strong surge in its financial performance.This momentum is underpinned by the decision to invest in new industrial tools with the re-location of the head office to the new site in Levallois-Perret, as well as the reworking of the group’s visual identity.
MICROPOLE attained a consolidated turnover of €50.7 m over the first half-year 2010, this representing 8.3 % growth like-for-like over last year. This performance has been supported by very robust sales in the group’s traditional business, which is in Business Intelligence, a field in which the group is a leader in both France and Switzerland, and the Web and IT business, which includes ebusiness and business applications. During this period, a balanced spread between different business sectors has emerged, as has a strengthening of the geographical weight of the regional agencies, whose contribution to the overall turnover now amounts to 15%, with an average growth rate 20% higher than in the last financial year. This performance also strongly points to a market having significant growth potential.
The group’s development continues to be built around a loyal and diversified customer base as well as an innovative and differentiating service offer, constantly adapted to meet client and market expectations.
The company recorded a current operating income of € 2.6 m in the first half-year 2010, representing 5.1% of the turnover for the period (as against 3.4% for the same period in 2009), and a 62% increase like-for-like. This strong growth is essentially due to the continued improvement in business during this half-year, and in line with the prospects announced at the beginning of the year. The group has therefore fully met its targets for this first half-year 2010.
Net income stands at €1.3 m, but remains the same as for the first half-year 2009, due to a one-off expense of 0.9 m arising from the re-location of all the Paris consulting and integration teams to a single site at Levallois-Perret. This expense, related to grouping 7 former traditional group sites, includes the rent on empty premises vacated, redecoration/repair expenses and depreciation of residual fixed assets.
Finally, from a financial viewpoint, MICROPOLE fundamentals remain healthy with a 7% debt ratio and €.54.1m in capital. To take advantage of its solid structure, the group has proceeded with the buyback of 1.1 million shares since the beginning of the year.
Business forecast for the second half-year 2010 is satisfactory, and enable anticipation of continuing turnover growth. The group has re-implemented an active recruitment policy to fully take advantage of the pick-up in business. « The economic environment of the second half-year has been well-geared for all our business lines to date. We are therefore still feeling very confident, and maintain our strategy of internal and external growth based on our high added-value services and consulting offer » comments Christian Poyau, MICROPOLE C.E.O.