Third-quarter revenue: €71.4m, +13.5%

Third-quarter revenue: €71.4m, +13.5%
#Communiqués Financiers

Continued strong levels of activity in Q3 2022

Third-quarter revenue: €71.4m, +13.5%
9-month revenue: €220.7m, +14.9%

Paris, October 26, 2022

Infotel, (ISIN: FR0000071797 – ticker: INF), the leading digital transformation partner for key accounts in Europe, today announced the publication of its revenue for the third quarter of 2022 and the first nine months of 2022.

(in €m)
2022 2021 Change
2022 / 2021
Q1 74.4 64.5 +15.3%
Q2 74.9 64.6 +15.9%
Q3 71.4 62.9 +13.5%
Services 68.3 60.8 +12.4%
Software 3.1 2.1 +44.6%
9-month total 220.7 192.0 +14.9%
Services 213.0 186.1 +14.4%
Software 7.7 5.9 +31.4%

Continued strong levels of activity in Q3 2022

In line with the sales momentum recorded in the second quarter, Infotel posted revenue of €71.4m in the third quarter of 2022, up +13.5% compared with 2021.

Over the first nine months of 2022, total revenue was up +14.9% to €220.7m. This performance is twice the sector growth forecast of +7.4% for 20221.

The Services business generated growth of +12.4% in the third quarter of 2022. Over the first nine months of the financial year, growth stood at +14.4%, confirming the continued strong demand from key clients in support of their digital transformation.

Over the first nine months of the year, the Banking/Finance sector accounted for 41.2% of the Services business, Industry for 26.7%, Services – Transport for 17.3%, Insurance – Pensions for 11.6% and Administrations for 3.2%.

Recent new clients are contributing to the growth in activity, for example with the launch of new services for SNCF’s passenger business, new contracts for RTE and an acceleration in the growth of service centers for the banking sector with the roll-out of new solutions at BNP Paribas, BPCE, Banque de France and Crédit Mutuel Arkéa.

In the United Kingdom, Infotel is launching a major project to set up direct sales to Nissan customers. Activity in the Principality of Monaco is booming with new projects serving the Government.

In what remains a tight hiring market, Infotel is capitalizing on the attractiveness of its employer brand to further strengthen its teams. With 485 gross new hires since the beginning of the year, including 174 in September alone, the total headcount increased to 3,040 at the end of September. The inter-contract rate was very low over the first three quarters, at 0.8%.

The Software business posted third-quarter revenue of €3.1m, up +44.6%. Over nine months, revenue totalled €7.7m, an increase of +31.4%.

IBM royalties amounted to €1.5m in the third quarter and €3.8m for the first nine months of the financial year.

Orlando, the technical documentation software suite for aircraft, continued its very strong growth with the signing of two new contracts over the period, with Air New Zealand and Air Cairo.

Target confirmed for the end of the year

In a very buoyant business environment and with an offering aligned with market needs, Infotel reiterates its confidence that it will continue to record sustained growth at the end of the year and achieve a current operating margin at least equal to that of the first half, in line with its 2026 strategic plan.

Upcoming event:
Publication of Q4 2022 revenue: January 25, 2023, after market close

About Infotel

Listed on Compartment B of Euronext Paris since January 1999 (ISIN FR0000071797), Infotel specialises in digital transformation for major accounts, from mobile to very high-volume databases (Big Data). Operating at the forefront of technological innovation, Infotel develops its expertise across two complementary divisions: IT services and software publishing. Infotel posted revenue of €263.4m in 2021 and employs more than 3,000 people.

1 Numeum, July 2022:

Michel Koutchouk Co-founder