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GROUP ANNUAL GROWTH: +13.6%
ORGANIC GROWTH: + 8.1 %
ACQUISITION OF ROFF (INTERNATIONAL SAP SPECIALIST)
Saint-Ouen (France), 1 February 2017 - Gfi Informatique recorded a 13.9% increase in revenue, to €282.1 million, in the fourth quarter, bringing revenue for the full year 2016 to €1,015.4 million, corresponding to annual growth of 13.6%.
Revenue |
4
th
quarter
2016 |
4
th
quarter
2015 | Facial growth | Organic growth |
(in millions of euros) | ||||
France | 216.1 | 211.8 | 2.0% | 1.5% |
International | 66.0 | 35.8 | 84.3% | 12.3% |
Total | 282.1 | 247.6 | 13.9% | 2.4% |
Revenue |
12 months
2016 [1] |
12 months
2015 | Facial growth | Organic growth |
(in millions of euros) | ||||
France | 832.2 | 763.5 | 9.0% | 7.5% |
International | 183.3 | 130.5 | 40.5% | 11.6% |
Total | 1 015.4 | 894.0 | 13.6% | 8.1% |
"Gfi Informatique posted an outstanding performance in 2016, with its highest organic growth in France and abroad since 2009. Moreover, the acquisitions of Roff and Efron in the fourth quarter have enabled the Group, as we had announced, to rebalance its international activities, with international business now accounting for nearly a quarter of total revenue, and enable us to serve our customers whether in Europe, Latin America, Eastern Europe or Africa" said Vincent Rouaix, Chairman & CEO of Gfi Informatique .
STRONGEST ANNUAL ORGANIC GROWTH FOR SIX YEARS
In France: overall growth of 2.0%, with organic growth of 1.5%, in the fourth quarter, bringing overall growth to 9.0% for the full year 2016, with organic growth of 7.5%.
Overall sales momentum in France increased, accounting for around 75% of the Group's pro forma sales [2] compared with 85% the previous year. At 7.5% year on year compared with 5.9% in 2015, the level of organic growth is the strongest of the past six years.
Although growth continued in the fourth quarter, it slowed slightly due to calendar differences (1 day less) and seasonal trends that were slightly different from those of the previous year.
The year's sales successes were reflected in the quality of the business indicators. At 31 December 2016, the order book was up by 7.5%, the weighted pipeline by 10% and the year-on-year book-to-bill ratio stood at 1.12.
At 31 December 2016, the main indicators remained high in line with the previous year and in line with our expectations.
The number of productive staff stood at 8,429 people at 31 December 2016, corresponding to an increase of 464 people.
AT INTERNATIONAL LEVEL: POSITIONING CONFIRMED BY AN EXCELLENT FOURTH QUARTER
International sales totalled €66.0 million in the fourth quarter, corresponding to overall growth of 84.3% with organic growth of 12.3%. Sales for the full year came to €183.3 million, up by 40.5% overall and by 11.6% on an organic basis.
ACQUISITION OF EFRON WITH OPERATIONS IN SPAIN, NORTH AMERICA AND LATIN AMERICA
Efron is a reputed Spanish digital services firm with nearly 750 employees and revenue of €37 million. It generates more than €30 million of its revenue in the Spanish market. Its customers include major players in the banking, insurance and healthcare sectors. This acquisition greatly strengthens Gfi Informatique's position in Spain (+30%) and will reinforce its presence with key accounts such as Santander, BBVA, Telefonica, Mapfre and Quiron where it can expand its entire services and products offering. Efron is also firmly established in America (20% of revenue), serving its customers in North America, Mexico and Colombia. Efron has been included in the Group's consolidation scope since 1 October 2016. The increase in Gfi Informatique's critical mass in these markets is expected to contribute rapidly to improved profitability in the region.
ACQUISITION OF ROFF GROUP, CONSOLIDATED WITH EFFECT FROM 1 NOVEMBER 2016
With more than 800 employees, Roff ranks among the top European players in the SAP solutions integration and maintenance market. The group, whose prestigious customers include EDP, Givaudan and Solvay, expects to generate revenues of more than €60 million in 2016. Based in Portugal, Roff has exported its expertise and currently generates nearly half its revenues with foreign customers, mainly in Switzerland, France, Northern Europe, and Latin America. With close to 90% of its production resources located at its Portuguese facilities, the company's organisation allows it to propose a competitive offer in terms of both quality and price. The group has also developed specialist expertise around the Outsystems platform.
This acquisition gives Gfi Informatique a workforce of more than 1,000 employees worldwide dedicated to SAP technology, grouped under the Roff banner.
FINANCIAL POSITION
Gfi Informatique recorded organic growth in France for the sixth consecutive year despite the uncertain economic conditions. At the same time, the Group experienced unprecedented international expansion through acquisitions and strong momentum of local activities.
Gfi Informatique, which continues to invest heavily in France in exportable technologies, now has an international profile that enables it to serve its customers wherever they are, whether in Eastern Europe, the Iberian Peninsula or Latin America.
In these conditions, the Group's operating margin is expected to increase further in terms of value but to decline slightly as a percentage of revenue as the result of investments made in products, industrial process improvement and security and the postponement of some deals, particularly in telecommunications. These elements are not expected to have any significant impact on profitability. This temporary stage in our profitability growth does not affect our profitability improvement objective for 2017 and mid-term.
There are currently no other known events that could affect the Group's financial situation.
Next financial release : 23 February 2017, Full year 2016 results.
Disclaimer:
The items in this press release other than historical facts are estimates. They do not constitute guarantees because of the inherent difficulties in forecasting results. Actual results may differ considerably from explicit or implicit forecasts.
About Gfi Informatique
Gfi Informatique is a major player in value-added IT services and software in Europe, and through its differentiated approach occupies a strategic position between global firms and niche entities. With its multi-specialist profile, the Group serves its customers with a unique combination of proximity, sector organisation and industrial-quality solutions. The Group has around 14,000 employees and generated revenue of €1,015 million in 2016.
Gfi Informatique is listed on the Paris Euronext, NYSE Euronext (Compartment B) -ISIN Code: FR0004038099.
For more information:
www.gfi.world
For any further information, please contact: | ||
GFI INFORMATIQUE
Chief Financial Officer Cyril Malher Tel:+33 1 44 04 50 64 cyril.malher@gfi.fr |
KEIMA COMMUNICATION
Investor Relations Emmanuel Dovergne Tel: +33 1 56 43 44 63 emmanuel.dovergne@keima.fr |
AGENCE YUCATAN
Media Relations Caroline Prince Tel: +33 1 53 63 27 35 cprince@yucatan.fr |
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APPENDICES
Revenue | 3 months | 3 months | Reported growth | Like-for-like growth | 1st quarter | 1st quarter | Reported growth | Like-for-like growth | |
(in euros '000) | 31/03/2016 | 31/03/2015 | 2016 | 2015 | |||||
France | 207.8 | 187.6 | 10.8% | 8.3% | 207.8 | 187.6 | 10.8% | 8.3% | |
International | 35.2 | 31.2 | 12.9% | 10.2% | 35.2 | 31.2 | 12.9% | 10.2% | |
Spain | 21.5 | 19.4 | 10.7% | 10.7% | 21.5 | 19.4 | 10.7% | 10.7% | |
Portugal | 4.4 | 3.6 | 21.3% | 21.3% | 4.4 | 3.6 | 21.3% | 21.3% | |
Northern and Eastern Europe * | 6.3 | 6.4 | -1.6% | -1.4% | 6.3 | 6.4 | -1.6% | -1.4% | |
Morocco - Africa | 3.0 | 1.8 | 71.1% | 22.9% | 3.0 | 1.8 | 71.1% | 22.9% | |
Total | 243.0 | 218.8 | 11.1% | 8.5% | 243.0 | 218.8 | 11.1% | 8.5% | |
* Belux, Switzerland, Poland | |||||||||
Revenue | 6 months | 6 months | Reported growth | Like-for-like growth | 2nd quarter | 2nd quarter | Reported growth | Like-for-like growth | |
(in euros '000) | 30/06/2016 | 30/06/2015 | 2016 | 2015 | |||||
France | 423.7 | 373.8 | 13.4% | 11.0% | 215.9 | 186.2 | 15.9% | 13.8% | |
International | 78.4 | 63.2 | 24.0% | 15.2% | 43.2 | 32.0 | 34.9% | 20.0% | |
Spain | 46.9 | 39.8 | 18.0% | 18.0% | 25.5 | 20.4 | 24.8% | 24.8% | |
Portugal | 9.1 | 7.4 | 23.3% | 23.3% | 4.7 | 3.7 | 25.3% | 25.3% | |
Northern and Eastern Europe * | 16.8 | 12.3 | 35.8% | 2.2% | 10.5 | 6.0 | 75.9% | 6.1% | |
Morocco - Africa | 5.6 | 3.7 | 51.9% | 11.8% | 2.5 | 1.9 | 33.9% | 1.5% | |
Total | 502.1 | 437.0 | 14.9% | 11.6% | 259.1 | 218.2 | 18.7% | 14.7% | |
* Belux, Switzerland, Poland | |||||||||
Revenue | 9 months | 9 months | Reported growth | Like-for-like growth | 3rd quarter | 3rd quarter | Reported growth | Like-for-like growth | |
(in euros '000) | 30/09/2016 | 30/09/2015 | 2016 | 2015 | |||||
France | 616.1 | 551.7 | 11.7% | 9.9% | 192.3 | 177.9 | 8.1% | 7.4% | |
International | 117.2 | 94.6 | 23.9% | 13.0% | 38.8 | 31.4 | 23.6% | 8.7% | |
Spain | 68.4 | 59.8 | 14.4% | 14.4% | 21.4 | 20.0 | 7.3% | 7.3% | |
Portugal | 13.9 | 11.2 | 23.8% | 23.8% | 4.8 | 3.9 | 24.5% | 24.5% | |
Northern and Eastern Europe * | 27.2 | 18.1 | 50.9% | 2.0% | 10.5 | 5.7 | 83.7% | 1.5% | |
Morocco - Africa | 7.7 | 5.5 | 38.9% | 12.3% | 2.1 | 1.8 | 13.0% | 13.3% | |
Total | 733.2 | 646.3 | 13.5% | 10.3% | 231.1 | 209.3 | 10.4% | 7.6% | |
* Belux, Switzerland, Poland | |||||||||
Revenue | 12 months | 12 months | Reported growth | Like-for-like growth | 4th quarter | 4th quarter | Reported growth | Like-for-like growth | |
(in euros '000) | 31/12/2016 | 31/12/2015 | 2016 | 2015 | |||||
France | 832.2 | 763.5 | 9.0% | 7.5% | 216.1 | 211.8 | 2.0% | 1.5% | |
International | 183.3 | 130.5 | 40.5% | 11.6% | 66.0 | 35.8 | 84.3% | 12.3% | |
Spain | 103.0 | 80.6 | 27.8% | 15.3% | 34.6 | 20.8 | 66.5% | 17.9% | |
Portugal | 30.4 | 15.8 | 92.6% | 19.3% | 16.5 | 4.5 | 262.7% | 8.3% | |
Northern and Eastern Europe * | 39.4 | 24.5 | 60.5% | 1.2% | 12.1 | 6.5 | 87.3% | 23.2% | |
Morocco - Africa | 10.5 | 9.6 | 9.9% | -5.5% | 2.8 | 4.0 | -29.8% | -29.8% | |
Total | 1 015.4 | 894.0 | 13.6% | 8.1% | 282.1 | 247.6 | 13.9% | 2.4% | |
* Belux, Switzerland, Poland |
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Organic growth
References to revenue changes in terms of organic growth imply that: