SOLVING EFESO INTL : Revenue for the 3rd quarter of 2015

Efeso Consulting.4718.English.Solving Efeso Communiqué T3 2015 v7

ABU DHABI, ATLANTA, BARCELONA, BERLIN, BRUSSELS, BUDAPEST, BUENOS AIRES, CAIRO GOTHENBURG, 'S-HERTOGENBOSCH, ISTANBUL, LISBON, MANCHESTER, MEXICO CITY MILAN, NEW DELHI, NEW YORK, PARIS, RIYADH, SAÕ PAULO, SEOUL, SHANGHAI, SINGAPORE SAINT PETERSBURG, STOCKHOLM, TOKYO

Financial Information I Paris, 12 November 2015

EFESO CONSULTING

REVENUE FOR THE THIRD QUARTER OF 2015:

€16.5 million: up 12% / Q3 2014 (up 10% at constant exchange rates) Positive effects of the Group's international strategy

• up 15% in Europe, integration of the Belgian company Empact

• up 19% in Asia, continued growth

Paris, 12 November 2015 - Efeso Consulting (Alternext: ALEFE), an international consultancy firm specialised in strategy and operational excellence, positioned in rapidly growing markets, publishes its revenue for the third quarter of 2015.

Filippo Mantegazza, Chairman of the EFESO Consulting Management Board, said, 'Revenue for the third quarter of 2015 reflects our ability to maintain high levels of growth connected in particular with the momentum of large scale projects rolled out for our international clients. With offices in 26 countries, the Group is well placed to balance and diversify its sources of growth in Europe, emerging markets and North America.'

1/ Continued sales growth

EFESO achieved revenue of €16.5 million in the third quarter of 2015, an increase of 12.2% (up 10.4% at constant exchange rates and 0% growth on a like-for-like basis) compared with the third quarter of 2014.

Europe recorded growth of 15% (14% at constant exchange rates) but there was a mixed picture at country level. In France, revenue posted a 23% fall in relation to the third quarter of 2014 (it may be recalled that, in the third quarter of 2014, a one-off project was carried out from France by teams from several European countries). In Spain, the strong growth in revenue (59%) was related to a large-scale project that began in the third quarter of 2014 and continued into 2015. Following several quarters of decline, revenue in Italy stabilised in comparison with the third quarter of 2014 as a result of several measures taken in late 2014. Since 1 May 2015, the Belgian company Empact has been consolidated in the Group's financial statements and its contribution to the Group's revenue was €1.5 million.

Asia posted growth of 19% due to the gradual implementation of projects for major international clients (15% at constant exchange rates). Business rebounded sharply in the Middle East (83% growth), particularly in the Gulf states, but fell in Russia, and remains connected to the international context which is limiting investments by major international clients (down 76%). In total, growth in emerging countries reached 15% (23% at constant exchange rates).

www.efeso.com

Within a fiercely competitive environment, business in North America contracted by 3% over the quarter in comparison with the previous year (down 17% at constant exchange rates), due in particular to the suspension of a project.

Revenue analysis	Q3 2015	Q3 2015 / Q3 2014	Sales breakdown
France	€3.3 million	-23%	19.9%
Europe (excl. France)	€8.1 million	+44%	49.0%
Emerging countries	€2.7 million	+15%	16.6%
North America	€2.4 million	-3%	14.5%
Total	€16.5 million	+12.2%

EFESO Consulting revenue for the 2015 financial year to date was €53.8 million, an increase of 13.7% (10.1% at constant exchange rates) and 4.4% on a like-for-like basis in comparison with the first nine months of 2014.

2/ Integration of Empact

Since May 2015, teams from EFESO Consulting and Empact have been working together closely to develop commercial synergies, in particular in operational excellence consultancy for service companies. Since 1 September 2015, Empact has been called Efeso Belgium.

3/ Outlook: continued development momentum

33% of the 2,600 consultancy service clients worldwide who responded to the survey conducted by 'Source for Consulting' expected to see increasing use of consultancy services in 2015; this figure was only 12% in 2014.

With these positive signs allied to the continued growth in revenue over the third quarter of 2015 and the diversity of its growth drivers, both geographic and sectoral, the Group confirms its 2015 objective of outperforming the consultancy market and maintaining higher growth in operating profitability than in sales.

Next communication: Revenue for the fourth quarter on 4 February 2016 (after close of trading)

Contacts:

David AUREGAN, Chief Financial Officer, Tel: [phone] - [e-mail]

Antoinette DARPY, Press, Tel: [phone] - [e-mail]

EFESO Consulting shares trade on Alternext Paris.

Free float: 18%

Number of outstanding shares: 24,300,428 ISIN FR0004500106

Ticker: ALEFE

Date of IPO: 02/07/1998

Code 6467 Bloomberg: ALEFE:FP Reuters: ALEFE.PA

This document may contain forward-looking financial information (particularly with regard to targets and trends) and forward-looking statements concerning Efeso Consulting's financial position and performance, its operations and its strategy.

Such forward-looking disclosures and statements are based on data or assumptions that could ultimately prove inaccurate and are subject to a number of risk factors, and in particular currency fluctuations and general economic and financial conditions. EFESO Consulting SA does not assume any duty or responsibility towards investors or towards any other party to update or revise, whether as a result of new information, future events or otherwise, all or part of the statements, forward-looking information, trends or targets provided in this document.