GROUPE OPEN Annual Results 2015: COI: €17.3 million (+22%)
Net incom: €8.8 million (+66%)Paris, 16 March 2016 - Groupe Open (ISIN: FR 0004050300; NextEconomy segment - 972, IT services), Digital Services Company, publishes its 2015 results.
In € million | 2015 | 2014 | Growth |
Turnover | 282.3 | 264.2 | +6.8% |
Current operating income | 17.3 | 14.4 | +22% |
% COI | 6.1% | 5.5% | |
Other operating income and expenditure | -0.7 | -2.4 | |
Operating income | 16.6 | 12.0 | +41% |
Cost of net financial debt | -1.0 | -1.3 | |
Tax expenditure | -6.3 | -4.4 | |
Net income from continuing activities | 9.3 | 6.3 | +52% |
Net income from activities discontinued, sold or in the process of being transferred | -0.5 | -1.0 | |
Net income | 8.8 | 5.3 | +66% |
Groupe Open has confirmed the financial performances posted in the course of 2015, showing very strong growth on all indicators: a rise in turnover exceeding that of the market (6.8% of which 6% organic) and a significant improvement in its income, both current operating income (+22%) and net income (+66%).
The productive workforce of Groupe Open is now 3,350, up 150 on 2014.
This annual growth in turnover went hand-in-hand with a stable average daily rate and an improvement in the occupation rate.
Groupe Open posted very strong growth (+20%) in its digital business, backed up by increase in industrial transformation services (+10%). This confirms the relevance of Groupe Open's positioning in 2015.
Internationally, Groupe Open stabilised its business.
Turnover in € million | 2015 | 2014 |
France | 258.3 | 240.0 |
International | 24.0 | 24.2 |
COI in € million | 2015 | 2014 |
France | 16.7 | 13.7 |
International | 0.6 | 0.5 |
In € million | Dec 2015 | Dec 2014 |
Goodwill | 104.8 | 104.8 |
Intangible fixed assets | 1.2 | 0.7 |
Non-current assets | 114.1 | 112.5 |
Cash flow | 26.3 | 16.8 |
Current assets | 99.9 | 86.7 |
Total ASSETS | 214.1 | 199.2 |
In € million | Dec 2015 | Dec 2014 |
Shareholders' equity | 106.6 | 99.1 |
Financial debt | 10.3 | 14.4 |
Non-current liabilities | 4.8 | 12.9 |
Current liabilities | 102.3 | 87.2 |
Factoring | 6.6 | 5.2 |
Total LIABILITIES | 214.1 | 199.2 |
The financial structure continued to improve, with very good control over working capital requirement.
In € millions | 2015 | 2014 |
Net cash flow from operations | 17.2 | 5.7 |
Net cash flow from investment | -3.2 | -5.2 |
Net cash flow from financing operations | -4.5 | -6.1 |
Variation in net cash flow | 9.5 | -5.6 |
Cash and cash equivalents at opening | 15.3 | 20.9 |
Cash and cash equivalents at close | 24.8 | 15.3 |
The company generated very significant cash (€15.3 million) and posted a net cash flow surplus of €9 million, placing it in a sound position to launch into its growth plan with high ambitions.
Groupe Open is building up its skills in Big Data and reinforcing its centre of expertise with a core group of top-level experts. The partnership with CentraleSupélec Executive Education continues with the recruitment and training of 100 data scientists.
The first class of 20 consultants will be graduating this March and a new class will be starting in early April.
There is similar development of new talents underway in DevOps and in SMACS technologies (social, mobility, analytics, cloud, security).
Regarding its offering, Groupe Open has set up its organisation dedicated to the digital market, organised around a number of agencies.
IoT (Internet of Things) Agency: a comprehensive offering encompassing the whole technological value chain.
Mobility & Geolocation Agency: expertise at the service of the user experience with bespoke support to guarantee 5-star apps.
Big Data Agency: creation of Kynapse byOpen, BigData Consulting & Innovation headed by Stéphane Messika (Graduate of Ecole Normale, Agrégation diploma in Mathematics, PhD in IT, Founder of LATEOS), to enable companies to get value out of their data.
Digital Commerce Agency: covering e-business needs through e-commerce websites, m-commerce websites and marketplaces.
Groupe Open is now seeing the appearance of the first apps from its shared Technological Innovation Platform (transforming the know-how of its personnel into apps and enabling co- production of innovative applications with its clients). For the Institut Curie, for example, the company has designed and developed the first totally personalised, secure mobile application (myCurie) to accompany patients through their treatment process.
acquisition of LATEOS with a view to providing support to clients in their digital commerce projects and to providing the basis for the creation of the Big Data and Digital Commerce agencies.
the acquisition of MCO Finance, the publisher of a software suite for credit and crowdfunding activities, available notably in SaaS mode.
The expertise and systems of these companies (cumulative turnover of €4 million in 2015) will provide a boost for all the activities of the Groupe Open.
In 2015, Groupe Open exceeded expectations in terms of organic growth and net income.
Thanks to its cash generation (€15.3 million) and the elimination of the company's debt (net cash flow of €9 million), it is now in a strong position to go on the offensive.
At the start of 2016, the dynamic is excellent, driven by the Strategic Plan, thereby encouraging Groupe Open to confirm its expectation of further growth in turnover and income for 2016.
The roll-out of the Strategic Plan has commenced, with the first acquisitions (LATEOS and MCO), the development of new skills and the launch of the dedicated digital agencies.
Other acquisitions will be finalised in the digital business in the course of 2016 in order to get everything into place for Groupe Open to achieve its objective of turnover of €500 million and current operating income of 10% by 2020.
The Board of Directors will propose to the next General Meeting on 19 May that a dividend of €0.25 per share be distributed.
The company has also resumed its programme of share buybacks, acquiring a total of 28,000 shares. It will continue to do so as market conditions allow, with a view to its external growth and/or the incentive plan that will accompany the roll-out of its Strategic Plan.
Nathalie Mrejen - Communication
Tel: +33 (0)1 71 06 31 28
nathalie.mrejen@open-groupe.com
About Groupe Open
With its 3,500 staff and 2015 turnover of €282 million, Groupe Open is a leading player in digital services. Open works on the Industrial and Digital Transformation of companies and is present mainly in France, as well as having international operations in Belgium, the Netherlands, Luxembourg and China.
Listed on the Stock Exchange, Groupe Open is among the top French digital service companies and has a digital offering in three dimensions: the extension of its IT and digital activity to provide end-to-end coverage, the supply of an e-commerce platform allowing direct access to the services proposed by Groupe Open, and the provision of a technical innovation platform shared with its clients and personnel.
Groupe Open adopts a forward-looking approach structured around its corporate values: Relevance, Audacity, Ethics & Responsibility, Passion and Commitment - www.open-groupe.com
elise.plat@wellcom.fr / sonia.perret@wellcom.fr
Groupe Open SA issued this content on 16 March 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 16 March 2016 17:58:04 UTC
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