Revenues for the 1st Half of 2018: €135.8m

Revenues for the 1st Half of 2018 : €135.8m
H1 organic growth* : +8.5%
H1 Large Account organic growth* : 10.1%
H1 Mid-Market organic growth* : 2.6%

The Keyrus Group continues to grow, having achieved revenues for this first half of the year of €135.8m, an increase of 6.8% (+8.5% at constant structure and exchange rates) as compared with the first half of 2017.

Consolidated revenues for the second quarter of 2018 were €67.7m, an increase of 4.6% as compared with the second quarter of 2017 (+6.4% at constant structure and exchange rates). This performance consolidates our sustained organic growth, which has been ongoing for several years now, thanks to Keyrus's innovative positioning around its core business : Data, the strategic linchpin of companies' digital transformation.

This positioning is particularly innovative: Keyrus is constantly exploring new business models and technologies to better assist its clients with their digital transformation issues ; after having worked to bring on board offerings by partner start-ups through the activities of the Keyrus Innovation Factory, at the start of this year the Group launched its corporate studio under the Younicorns brand name, dedicated to co-creating new business models with its clients and tackling novel challenges surrounding digital transformation in a joint effort to create value.

In addition, the Group continues to ramp up the general implementation of its commercial, marketing, and managerial strategy so as to enhance its governance focused on successfully achieving the aims of the Keyrus 2020 Plan. This implementation brings with it structural investments.

Growth for the second quarter was 4.4% for Large Account activities (6.6% at constant structure and exchange rates) and 5.6% for Mid-Market activities.

Large Account activities benefited from the strong start in the first quarter of 2018, having gone on to increase by 10.1% on an organic basis over the first half of this year, notably with strong growth in North and South America.

Mid-Market activities posted organic growth of 2.6% in the first half of 2018, which was a solid performance, considering that the first half of 2017 had benefited from extra business linked to projects related to the implementation of the DSN [Nominative Social Declaration/Déclaration Sociale Nominative].

All activities continue to look promising for the second half of the year, and the Group remains confident of its ability to improve its performance yet further.

Keyrus will publish its results for the first half of 2018 after market close on 24 September 2018.

Breakdown of revenues by operational sector

* DEFINITION OF THE NOTION OF ORGANIC GROWTH IN REVENUES

The notion of organic growth in revenues involves presenting the revenues of the preceding year (N-1, in this case, the 2017 financial year) restated in such a way as to apply the exchange rates and scope of consolidation of the current year (N, in this case, the 2018 financial year). The Group thus calculates N-1 revenues by :

• using the exchange rates of year N to calculate the reported revenues of companies outside the Eurozone in year N-1 ;
• adding to the reported revenues for year N-1 the N-1 revenues of companies that came within the scope of consolidation in year N ;
• deducting from the reported revenues for year N-1 the N-1 revenues of companies that went out of the scope of consolidation in year N.

In 2018, the adjustments to go from reported 2017 revenues to organic 2017 revenues look as follows :

** IFRS 15
The IFRS 15 revenue recognition standard came into effect on 1st January 2018. Unless otherwise specified, 2017 revenues indicated in this press release have been restated so as to be in accordance with the application of the IFRS 15 standard and comparable with 2018 revenues in terms of accounting methods.