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News and Information Article
PARIS, October 19 /-FirstCall/ -- Groupe Silicomp (Paris
FR0000063794) - 2006 Q3 sales amounted to EUR 29.1 million(*), an increase
of over 20% compared to 2005 Q3, of which 15% is purely organic.
The first effects of the recovery in Asia are beginning to be felt (8%
of Group sales), Belgium is catching up after lower than expected sales
earlier in the year (6% of Group sales) and Switzerland recorded strong
sales (6% of group sales). In France (77% of group sales), operations were
in line with the July guidance revision.
Over the first 9 months of the financial year, sales totalled EUR 88.3
million(*), a year-on-year increase of 20.5%, or 14.8% on a like-for-like
basis.
Growth in France was satisfactory, in particular after taking into
consideration the unfavourable basis effect affecting the Information
Technology Division, as there were only 62 working days in 2006 Q3,
compared to 64 the previous year. Other divisions posted remarkable growth.
International operations were particularly buoyant in Belgium and
Switzerland, and Asia benefited both from a good level of sales and from
the "catching-up effect" of the recognition of work-in-progress of projects
which had been delayed (on grounds beyond Silicomps control). Business
trend was satisfactory in North America.
EUR millions (unaudited 2006 2005 % change
data)
Actual Like-for-like
By quarter
Q1 29.1 23.4 24.6% 17.6%
Q2 29.8 25.6 16.5% 10.5%
Q3 29.1 24.2 20.2% 15.1%
9 months, by business / region
Information Technologies 42.7 37.8 13.1% 13.1%
Consulting & L@bs 6.2 3.7 65.7% (28.3%)
Systems & Networks 19.1 15.0 26.6% 26.6%
Subtotal France 68.0 56.6 20.2% 14.0%
North America 2.8 2.5 10.5% 5.8%
Asia 7.1 5.5 30.0% 18.4%
Switzerland / Belgium 10.4 8.7 19.9% 20.6%
Subtotal foreign 20.3 16.7 21.8% 17.6%
subsidiaries
9-month sales 88.3 73.2 20.5% 14.8%
Workforce increased by 2.4% over the period to 1,174. Average workforce
reached 1,149, a 17% increase compared to 2005 Q3.
The inter-contracts rate was 3.5% (compared to 3.1% in 2005 Q3).
Average Billable Utilization Inter-contract Technical
workforce rate rate rate (1) outsourcing
(billable (EUR
days thousands)
billed))
2004 Q1 875 78.0% 76.0% 4.9% 2,630
Q2 886 78.6% 75.8% 3.2% 4,303
Q3 896 79.2% 70.0% 3.0% 4,661
Q4 920 79.5% 76.3% 3.8% 4,023
2005 Q1 931 79.8% 78.0% 6.0% 4,727
Q2 946 80.0% 77.3% 4.0% 4,156
Q3 983 80.4% 71.1% 3.1% 3,606
Q4 1,057 81.2% 77.9% 3.9% 5,094
2006 Q1 1,118 81.1% 79.0% 5.5% 5,173
Q2 1,140 81.5% 79.0% 3.7% 5,593
Q3 1,149 81.5% 70.0% 3.5% N/A
(1) France engineering structure
Quarterly financial statements will be approved by the Board of
Directors on 15 November 2006.
2006 Q3 operating margin forecast is virtually similar to the same
period of 2005, in spite of the unfavourable basis effect.
FULL YEAR 2006 OUTLOOK
Prospects are good and are in line with our previous guidance:
- Full-year double digit organic growth;
- Profit from operations in the region of EUR 6 million;
- Earnings per share of about EUR 0.85.
The sales order backlog is at a good level. In addition, Q4, with 63
working days, will benefit from a more favourable basis effect than Q3. The
group should record high sales levels in the last months of 2006 and a
significant increase in profit from operations margin is expected.
Note that a large number of contracts have been signed recently, here
are a few examples:
- The Systems & Network business
- provides third-party application maintenance of the infrastructures
of a telecommunication operator until September 2008 ;
- takes part in the integration of the infrastructure of an
international news channel.
- The Information Technology business
- secured a major contract (EUR 1 million) for the development of
software in aeronautics (A400M) ;
- performs test in an on-board safety electronic device in the field of
transport;
- continues to take part in the development of the French government
Personalised Medical File initiative with SNR;
- opened a new Software Development Center dedicated to one of its
major customers, with forecast sales of about EUR 2 million by the end of
2007;
- capitalising on its long expertise in logistics (in particular with
Fedex) signed its first project with DHL.
- The Consulting & L@bs business has opened two new accounts in the US
for tests in the field of automated payment systems.
The Groups technological advance and proximity to its customers,
combined with development capacities in India enable Groupe Silicomp to
secure a large number of projects and as a consequence increase its
workforce in France.
Silicomp is a group with strong fundamentals, due to the organisation
and structuring of its fields of expertise with significant prospects and
potential.
Coming up: Thursday 23 November 2006 after close of markets: 2006 3rd
quarter results
(*) Preliminary unaudited results
This news release contains certain forward-looking statements, which
are subject to a certain number of risks and uncertainties. These
statements concern estimated or forecasted 2006 results, that may
materially differ from actual results, depending on a number of factors
such as the adequacy of estimated expense accruals and reserves and second
half-year end adjustments arising from the customary review by Group
management, the Audit Committee and the Statutory Auditors, notably as
concerns post-Balance Sheet events that are not yet known to GROUPE
SILICOMP.
These statements also concern future financial performances and risks
linked to the sector, activity and performances objectives forecast by
GROUPE SILICOMP. The facts or actual results may, accordingly, differ
significantly from those estimated or forecast. Although the Group strives
to set reasonable objectives, these do not constitute any guarantee as to
events that unfold, the activity and actual performances. These risk
factors include, but are not limited to, information services market
trends, the level of investments by our corporate clients, the capacity of
the Group to maintain its technological advance, litigation, its capacity
to define and implement strategic partnerships in its principal sectors of
activity and its capability to develop and profit from new software and
services. Given the uncertain nature of these forward-looking statements,
the reader is advised that they do not constitute a guarantee by the Group
or others as to the realisation of GROUPE SILICOMP objectives and projects.
Neither we nor others assume any responsibility for the accuracy and
completeness of the aforementioned forward-looking statements. The latter
strictly apply to the present press release. The Group is in no way bound
to update such forward-looking statements.
About Groupe Silicomp
Groupe Silicomp is a leading Information Technology Solutions provider
of innovative, high-technology content solutions. The Group is active in
consulting and implementation services, and is a recognised specialist in
computer security. The Groups unique know-how for developing communication
systems for your future needs is reflected in its control and integration
of network systems, industrial applications and real-time, on-board
computing. With a presence on three continents, Groupe Silicomp is the
preferred partner of major manufactures. For more information, please visit
our website at http://www.silicomp.fr
Shares of Groupe SILICOMP (ISIN Code: FR000063794) trade on the
Euronext Paris Stock Exchange (Eurolist - compartment C) since 16 June
1998.
Press Contact Company contact
Bernard GARRIGOU-TORCHY Jean-Michel GLINER, CEO
BGT Communication Groupe SILICOMP
Tel. +33(0)1-46-47-40-96 Tel. +33(0)4-76-41-66-66
BGTcom@wanadoo.fr info@silicomp.fr
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