Annual Results 2014:

Turnover: €264 M (+7%) - COI: €14.2 M (+30%) Net Income: €6.1 M (+68%)

Paris, 18 March 2015 - Groupe Open (ISIN: FR 0004050300; NextEconomy segment - 972, IT

services), the digital services company, publishes its results for 2014.

Annual Results 2014

In € million

2014

2013

Growth

Turnover

264.3

247.1

+7%

Current Operating Income

14.2

10.9

+30%

% COI

5.4%

4.4%

Other operating income and expenditure

of which moving costs

-2.4

-1.0

-1.8

Operating Income

11.8

9.1

+30%

Cost of financial debt

-1.3

-1.7

Tax expenditure

-4.4

-3.8

Net income from continuing activities

6.1

3.6

+68%

Net income from activities now

discontinued, sold or in the process of being transferred

-0.8

0.1

Net income

5.3

3.7

In 2014, Groupe Open posted significant growth on all its performance indicators, with growth in turnover outstripping that of the market (7%, of which 4.6% organic growth) and a rise in current operating income (+30%).
Last April, Groupe Open acquired smartTrade Services to reinforce its Market Finance business in France. This business unit now has over one hundred staff working in the functional organisations of banks.
At the end of September 2014, Groupe Open disposed of the Industry branch of its PEA Consulting business, thus refocusing its Consulting activities on the Banking and Insurance sectors. Turnover and income figures for 2013 and 2014 have therefore been restated to take
account of this disposal.

News Release - Groupe Open - 18 March 2015



The workforce at the end of 2014 had increased to 2,937 in-house production-side employees, up more than 5%.
In 2014, Groupe Open's positioning - supporting its clients in their industrial and digital transformation issues - was shown to be a success.
This original model sets the company apart and provides the response to companies seeking to combine rationalisation-related performance levers, through industrial transformation, with those relating to innovation and mobility to meet competitiveness imperatives.
Groupe Open has illustrated its growth by achievements in banking, insurance, industry and energy, revealing key market trends, with a growth rate of 8% in industrial transformation and
57% in the digital transformation of its clients.
As announced, Groupe Open has confirmed its return to growth and profitability in its international activities.

Turnover in €

million

2014

2013

France

240.0

226.2

International

24.4

20.9

BALANCE SHEET AND CASH FLOW

In € million

Dec 2014

Dec 2013

Goodwill

104.8

102.0

Non-current assets

112.5

109.2

Cash flow

16.8

24.8

Current assets

86.7

86.8

Total ASSETS

199.2

196.0

The financial structure is stable compared to 31 December 2013. Some key points are the following:

the smartTrade services acquisition was financed on the company's own funds,

the bonds issued in 2007 were redeemed, with refinancing by a bank loan at more favourable market interest rates,

excellent control over the working capital requirement (WCR) against a backdrop of strong growth.

Gearing stands at 3%.

News Release - Groupe Open - 18 March 2015

In € million

2014

2013

Net cash flow from operations

5.7

3.0

Net cash flow from investment

-5.2

-1.2

Net cash flow from financing operations

-6.1

-5.2

Variation in net cash flow

-5.6

-3.4

Cash and cash equivalents at opening

20.9

24.3

Cash and cash equivalents at close

15.3

20.9

Summary & Future Prospects

2014 was marked by the confirmation of Groupe Open's sound positioning and original model and the company feels confident for 2015.
On the strength of its current workforce combined with a significant order portfolio, Groupe Open
can expect further organic growth in its turnover.
The reduction in expenditure on premises (the head office was moved in January 2015), potential improvements in margins internationally and the ongoing rationalisation process will all contribute to the objective of growth in current operating income.
These factors, combined with the reduction in the cost of financial debt and the end of the losses on the Consulting activity that was disposed of, suggest that a sharp increase in net income (Group share) is likely.
These excellent results and good forward visibility have encouraged the Group to resume dividend distributions. Groupe Open's board of directors has therefore put a proposal to the Annual General Meeting called for 20 May 2015 to distribute dividends of €0.16 per share.
The company has also announced the cancellation of the 315,040 treasury shares, subject to effective acceptance after the mandatory period for any objections from creditors.

These results will be discussed in detail at the SFAF meeting scheduled for Thursday 19 March at 12:30 in the reception rooms of the Shangri-La Hotel. Turnover for Q1 2015 will be announced by a news release on Thursday 23 April 2015 after the close of trading.

CONTACTS:

Nathalie MREJEN - Financial Communications

Tel: 01 71 06 31 08 nathalie.mrejen@open-groupe.com

Agence Image7

Roxane Planas - Priscille Reneaume

Tel: 01 53 70 74 18

rplanas@image7.fr - preneaume@image7.fr

About Groupe Open

With its 3,300 staff, Groupe Open is a leading player in Industrial and Digital Transformation for businesses. It is present mainly in France, but also has international operations in Belgium, the Netherlands, Luxembourg, Spain and China.

Listed on the Stock Exchange, Groupe Open is among the top French digital service companies and has three businesses - Consulting, Application Services and Infrastructure Services - with a unique combination of Professionalism and Proximity,

Value and Innovation

Groupe Open's stated ambition is to consolidate its position among the leading digital service companies in France, building for the future while remaining true to its core values: Relevance, Audacity, Ethics & Responsibility, Passion and Commitment For further information: www.open-groupe.com

News Release - Groupe Open - 18 March 2015

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