Q sales. Analysts & Investors Presentation

Transcription

1 Analysts & Investors Presentation

2 2 Table of contents I. Q performance II. Outlook III. Conclusion

3 3 01 Q performance

4 Q Performance Key figures 2017 sales 4 Sales Q1 Reported Q1 Organic France 210.3m +1.2% +0.0% International 70.3m +99.6% +13.3% Group 280.5m +15.4% +2.0%

5 Sales & overall growth Gfi organic growth Q performance A quarter of consolidation in France 5 Financial data (France) Comments 13,8% 8,3% 7,4% 5,9% 5,9% 2,7% 3,5% 1,8% 3,2% 1,5% H1-15 H2-15 Q1-16 Q2-16 Q3-16 Q4-16 Q1-17 Q1 sales up 1.2% to 210.3m, flat organic sales A very demanding comparison basis with two major outsourcing contracts won in Q (CNES and 3SI), which generated strong growth at the time Two specialised businesses entered the consolidation scope in Q1, Metaware, a provider of mainframe modernisation systems, and Novulys, a specialist in CRM based on Microsoft technology Productive workforce rose to 8,460 people, up from 8,260 the previous year 15,6% 6,1% 10,0% 9,1% 13,1% 8,5% 15,9% 10,8% 8,1% The average daily rate was virtually stable and the workforce activity rate declined slightly, but remained at a high level. KPI were temporarily affected by oneoff situations in limited perimeters 496,7 546,6 631,8 689,5 373,8 389,7 2,0% 1,2% 207,8 215,9 192,3 216,8 210,3 France now only accounts for 75% of Group revenue versus 85% last year H1-15 H2-15 Q1-16 Q2-16 Q3-16 Q4-16 Q1-17 Sales ( m) Overall growth

6 6 Q performance International business is a sustainable growth source Financial data (International) Org. change y-o-y 20,0% 1,5% 1,1% 1,3% 0,4% 0,6% 2,1% 4,5% 1,0% 6,1% 2,4% 12,3% 12,4% 9,1% 10,2% 7,6% 8,7% 12,3% 13,3% (0,8%) (0,4%) (3,3%) (5,6%) (8,4%) (12,0%) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q International sales of 70.3m in Q1 2017, i.e. 25% of Group sales, almost doubling y-o-y, of which 13.3% organic growth: Iberia - Latam ( 54.1m) - Very strong growth of %. Robust organic growth across the region (Spain +15.2% and Portugal +23.1%). Both countries benefited from the strong market trend and commercial synergies with the Group, notably following recent acquisitions. In the first quarter, historical activities represented 30.1m while Efron and Roff s combined activities contributed 24m. Northern and Eastern Europe ( 12.5m) - The region recorded a stellar quarter with growth of 98.4%, fuelled by the integration of Polish company Impaq, acquired in March 2016, and a strong upsurge in activity in BeLux. Morocco - Africa ( 2.8m) - A bout of weakness, but this quarter was not representative. The Group is continuing to invest in order to reach the critical size needed to fully tap the region s momentum.

7 7 02 Outlook

8 2017 Growth Acceleration in France and a growth spurt abroad Unchanged drivers Account Management across our footprint Ongoing opportunity gains with eligibility for big deals Strong growth in specialised offers Development of our systems integration offering outside France Commercial synergies from recent acquisitions (Impaq, Efron, Roff, Metaware, etc.) Strong commercial momentum in France At end Q month rolling B-to-B: 1.02, an increase since the beginning of the year Backlog: +20.7% y-o-y Weighted pipeline: +21.8% y-o-y Strong growth in international activities Recovery in southern Europe, underpinned by latest acquisitions (Impaq, Efron, Roff) Development in new regions (Eastern Europe, MEA and LatAm) 8

9 2017 profitability Productivity sources triggered Concrete improvement factors Major, accretive deals signed or being signed ROI phase in Solutions ROI phase in measures to support the Group s expansion, notably outside France Synergies from recent acquisitions (Roff, Efron, Metaware, etc.) Again, a marked seasonal effect between the first and second half-year 9 Pursuit of an accretive M&A strategy GFI Informatique pressed on with its external growth strategy in solutions and outside France, in inherently accretive markets and/or allowing optimisation of cost structures in its existing footprint Confirmation of sales growth target on the basis of unchanged conditions, and of an improvement in the operating margin in 2017

10 10 03 Conclusion

11 Renewed ambitions Building on its stronger balance sheet and shareholder structure, Gfi is embarking on a new expansion phase Roadmap based on: Winning market share in our historical footprint Continuing to move up the value chain through software publishing and systems integration Development in new countries (LatAm, Eastern Europe, MEA) viewed either as an element missing from our industrial assets or as an opportunity for expansion to sell our solutions 11 Potential for acceleration, including: Major deals in Europe enabling us to target a leadership position Adding or ramping up high value-added Skill Centres (Digital Transformation, SAP, etc.) to be leveraged at Group level Opening or strengthening growth markets (Eastern Europe or LatAm) offering strong growth and favourable competitive environments

12 FRANCE SPAIN PORTUGAL BELGIUM SWITZERLAND LUXEMBOURG UNITED KINGDOM POLAND ROMANIA MOROCCO COTE D IVOIRE ANGOLA USA MEXICO COLUMBIA BRAZIL

13 Appendix: quarterly performance Q revenue 13 Revenue 3 months 3 months (in euros '000) 31/03/ /03/2016 Reported grow th Like-for-like grow th France 210,3 207,8 1,2% 0,0% International 70,3 35,2 99,6% 13,3% Iberia-Latam 54,1 25,9 109,1% 16,5% Northern and Eastern Europe 12,5 6,3 98,4% 15,4% Morocco - Africa 2,8 3,0-8,0% -18,3% ROW 0,9 0,0 0,0% 0,0% Total 280,5 243,0 15,4% 2,0%