GROUPE OPEN Groupe Open
Open doubles net income (Group share) Improvements in all financial ratios Proposal made to pay dividends of €0.13 per shareParis, 20th March 2013 - GROUPE OPEN (ISIN: FR 0004050300; NextEconomy segment - 972, IT services), the digital services company (ESN), unveils full financial results for 2012.
Financial Results - in millions of € | 2012 | 2011 | GROWTH |
Turnover | 242.2 | 255.4 | -5% |
Current operating income before profit sharing | 12.9 | 12.7 | +2% |
Current operating income (% of turnover) | 12.4 5.1% | 12.6 4.9% | -2% |
Other operating income and expenditure | -1.2 | -2.8 | |
Operating income | 11.2 | 9.8 | +13% |
Cost of financial debt | -1.6 | -2.2 | -37% |
Other financial income and expenditure | -0.1 | -0.2 | |
Tax expenditure | -4.7 | -3.4 | |
Net operating income | 4.8 | 4.0 | +17% |
Net income from ceased/transferred activities * | -0.1 | -1.4 | |
Net income | 4.7 | 2.6 | +96% |
Net income per share | 0.54 | 0.27 | +100% |
GROUPE OPEN has seen net income (Group share) double this year. Turnover for the year 2012 was €242.2 million.
The production-side workforce now numbers 2,775, an increase on 2011.
Turnover in millions of € | 2012 | 2011 |
France | 221.1 | 230.0 |
International | 21.1 | 25.4 |
Current operating income in millions of € | 2012 | 2011 |
France | 12.7 | 13.8 |
International | -0.3 | -1.2 |
As predicted, international operations have broken even despite a decline in turnover as a result of previous conditions.
Faced with what promised to be challenging market conditions, early on in 2012
GROUPE OPEN implemented a new action strategy focused on redoubling commercial efforts.
The implementation of this strategy has borne fruit in the form of:
- securing numerous new accounts, and new accreditations in the Banking, Insurance, Transport, Energy and Public sectors
- recruitment allowing for a 12% increase in the group's team of managers and commercial experts
- development of the group's range of services, and the development of major new
partnerships with Google Business, HP Software, Perfecto Mobile, …
- strengthening of Open's Consulting division, with the acquisition of management consultancy PEA Consulting.
GROUPE OPEN is committed to balancing Professionalism & Proximity, keeping faith with French industrial resources (onshore structure), and Value & Innovation as Open works to deliver innovative solutions that keep pace with the latest in technological developments for business: Cloud, Social, Mobile, Big Data and more.
This positioning has allowed GROUPE OPEN to assert its status as a leading player in the field of Digital Transformation and Performance Boosting for the IT departments of large organisations, increasing its brand reputation and reaffirming its strong commitment to CSR (Corporate Social Responsibility). This includes a Human Resources policy which places great emphasis on social commitments (reduced employee turnover, recruitment up in early 2013, over 600 new employees recruited so far this year), equality (no discrimination on the basis of gender, age or disability) and training.
liabilities
The group's financial structure has been vindicated by a strong performance in terms of cash flow generation.
Gearing is 0%.
In millions of € | 2012 | 2011 |
Net cash flow from operations | 14.1 | 6.5 |
Net cash flow from investments | -2.6 | -2.6 |
Net cash flow from financing operations | -8.1 | -20.3 |
Variation in net cash flow | 3.4 | -16.4 |
Cash and cash equivalents at opening | 20.9 | 37.3 |
Cash and cash equivalents at close | 24.3 | 20.9 |
The cash flow figures for 2012 reveal:
- in terms of the group's activity, strong net income and excellent operational performance in cutting down on outstanding client invoices, a result of the industrialisation of this key process across the group;
- in terms of financing, redemption of treasury stock (cancelled in August 2012), distribution of dividends and reduced reliance on external financing.
In light of these results, the GROUPE OPEN's board of directors put a proposal to the shareholders' AGM held on 15th May 2013, recommending the distribution of a dividend of €0.13 per share.
The year 2012 saw GROUPE OPEN prove its resilience in challenging market conditions. The increase in net income and the improvement seen in all financial ratios are highly positive indicators of the company's strong health.
With an increase in recruitment for the first time in three years, along with an increase in new contracts and the successful implementation of the commercial action strategy, the Groupe Open is well on the way to meeting its growth targets for 2013.
CONTACT:
Nathalie MREJEN - Financial Communications
Tel: 01 40 53 36 00
nathalie.mrejen@open-groupe.com
About Groupe OpenWith over 3000 employees, GROUPE OPEN is a leading player in the field of Digital Transformation and Performance Boosting for the IT Departments of large companies. The group is based in France, with international operations in Belgium, the Netherlands, Luxembourg, Spain and China
Listed on the Paris Stock Exchange, GROUPE OPEN is among the leading French digital service providers (ESN), offering Consulting, Application Services and Infrastructure Support with a unique combination of strengths which sets Open apart from the competition: Professionalism and Proximity, Value and Innovation
In order to better respond to the priorities of today's business clients, and the need to be competitive at all times, GROUPE OPEN's strategy is based on continually boosting the group's value added and its capacity for innovation.
GROUPE OPEN's stated ambition is to consolidate its position among the leading digital business service experts in France, building for the future while remaining true to the core values which define the company's identity: Pertinence, Audacity, Ethics & Responsibility, Passion and Commitment.
Find out more at www.open-groupe.com
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