Business & Decision : 2019 ANNUAL REVENUE & RESULTS

Business & Decision, an international consulting and systems integration group, announces, for the 2019 fiscal year, total consolidated revenue of € 204.0 million and a net loss of € 11.0 million, group share.

Revenue

€ m	2019	2018	Var.	Var. (1)
Revenue	204.0	218.4	-6.6%	-7,0 %

Total revenue amounted to € 204.0 million for the 2019 financial year, decreasing 6.6% over the 2018 financial year. At constant exchange rates(1) and comparable structure, revenue decrease is 7.0%.

• French operations recorded € 132.6 million for 2019, down 8.8% over last year, mainly due to a decline in activity in Ile-de-France.

• International operations represent total revenue of € 71.5 million decreasing 2.1%. The relative stability of activity is noted in all countries, despite performance of operations in Belgium. At constant exchange rates, revenue decline is 3.3%.

Income

€ m	2019 (2)	2018
Current operating income	-2,8	1,6
Operating income	-6,2	-1,5
Financial result	-1,7	-1,4
Tax	-3,1	-3,2
Net income	-11,0	-6,2

(1) At constant exchange rates: 2019 average annual rates applied to 2018.

(2) Accounts have been reviewed by the Board of Directors on 11 February 2020. Audit of accounts procedures are in progress.

Pierre-Louis Biaggi, Chief Executive Officer of Business & Decision, declares: '2019 was marked by the implementation of the Transformation plan. The main operational difficulties were concentrated in Ile-de-France and in the United States. In the second half of 2019, we are already note improvement in operating results, from € -4.9 million in the first half of 2019 to € -1.3 million in the second half of 2019.'

• Current operating income amounted to € -2.8 million, mainly due to the drop in revenue in France and to the difficulties of the Mi-Case project in the United.

• Operating income amounted to € -6.2 million, after impact of exceptional expenses of € 2.7 million including costs of the transformation plan in France and in Tunisia, and Goodwill depreciation of € 0.7 million.

• Net income, group share, is € -11.0 million, including a financial result of € -1.7 million and tax expenses of € 3.1 million.

• Total balance sheet is € 185.3 million at the end of 2019, in comparison do € 156.8 million at the end of 2018. The application of IFRS 16 resulted in the creation of an asset of € 28.3 million for the rights to use leased fixed assets and a corresponding rental debt of € 24.3 million.

• Orange group continued to support the financing of Business & Decision activity through the establishment of short- and medium-term credit facilities, amounting to € 25 million.

Outlook

The implementation of the transformation plan continues in 2020. Improvement actions cover all the countries in which the group operates.

Up-coming publications

29 July 2020: 2020 first half revenue & results

About Business & Decision

Business & Decision, an international Consulting and Systems Integration company, is a leader in Business Intelligence (BI) and CRM, and a major player in e-Business. We leverage a unique combination of technical, functional and industry specialization, as well as partnerships with all of the key software vendors, to deliver maximum-value projects and help clients break through barriers to innovation such as Big Data and digital transformation. Business & Decision operates in 11 countries and employs 2,400 employees in France and worldwide. Business & Decision is a subsidiary of Orange Business Services.

To learn more: www.group.businessdecision.com

CONTACT:

Safa Baghai

Business & Decision

Tel: [phone]

[e-mail]