#Communiqués Financiers

9-month revenue: +22.4%
Continued growth momentum

Bagnolet, october 2010

En M€ 2010 2009 Δ 2010 / 2009
1st quarter 27,8 22,2 + 25,6 %
2nd quarter 26,9 20,7 + 29,7 %
3rd quarter 24,6 21,9 + 12,2 %
Total turnover 9 months 79,3 64,8 + 22,4 %
– revenue Services 75,2 60,4 + 24,5 %
– Software revenue 4,1 4,4 (7,5 %)

Ramp-up of service centers in all sectors and continuation of the commercial momentum

Infotel had a very satisfactory 3rd quarter, up 12.2% to €24.6 million. On a like-for-like basis (excluding the integration of Addax on 1 January 2010), activity reached €23.5 million.

As Harwell Management was accounted for as of July 1, 2010, this 3rd quarter represents a proforma turnover of €25.4 million, up 16% compared to the 3rd quarter of 2009.

The Services division experienced sustained activity (+15.8% to €23.5 million in the third quarter vs. €20.3 million in 2009) with an intercontract rate of less than 1% and an appropriate use of subcontracting. The ramp-up of service centers in all sectors (Automotive, Banking, Retirement Insurance, etc.) continued and contributed to the good performance of the period. This good direction of activity is also reflected in the commercial dynamism of the quarter : the Group has made new account openings in Paris and in the provinces and gained new listings within major accounts, thanks in particular to the quality of its national coverage.

The Software division (-33.2% to €1.1 million in the 3rd quarter vs. €1.6 million in 2009) suffered from the combination of two cyclical factors: on the one hand, the increase in the euro/dollar parity, and on the other hand, the wait-and-see attitude of IBM customers in view of the launch of the new zEnterprise mainframe series and new versions of HPU. In the longer term, the recent signing of a new agreement with IBM for the distribution of MergeBackup software is promising for the future. In addition, Infotel is intensifying its commercial prospecting for the “Arcsys” archiving and dematerialization platform and the “Infoscope Tests” test support software, two new offers that are of great interest.

Confirmation of the 2010 objectives

In view of these good results and the good visibility available to the Group, Infotel confirms its objective of an annual turnover of €110 million, combined with an operating margin rate of 10%.

Next appointment:
Publication of 2010 annual turnover: January 27, 2011 (after stock exchange)

About Infotel

Listed on Compartment C of Euronext Paris since January 1999 (Isin code FR0000071797), Infotel is the specialist in the management of databases and their Web applications. At the forefront of technological innovations, Infotel develops its expertise around two complementary areas of expertise: IT services and high-tech software publishing. As part of its “Ambition 2012” plan, Infotel has set itself two main objectives: to carry out almost all of its services in Service Centers and to become a key player in dematerialization. In 2009, Infotel had a total turnover of €89.2 million.

Michel Koutchouk Co-founder