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Visiativ
Earnings Release • Jan 28, 2020
1754_iss_2020-01-28_348bcb49-a562-4ce9-a9ff-2a7d6e9b1428.pdf
Earnings Release
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Target achieved: 2019 revenues of €203.2 million up 25% including 7% like-for-like growth
Lyon, 28 January 2020 – 6.00 pm. The Visiativ Group, a designer of digital platforms for corporate transformation, is listed on Euronext Growth Paris (ISIN: FR0004029478 – ticker: ALVIV).
Visiativ posted 2019 consolidated revenues of €203.2 million, up 25% (up 7% like-for-like).
The Group has therefore achieved the €200 million revenue target set out in the Next100 strategic plan launched in 2017 one year ahead of schedule.
2020 is the first year of the new CATALYST 2023 strategic plan, which aims to consolidate Visiativ's position as a strategic partner for accelerating corporate innovation and transformation focusing on five strategic areas: renewed operational organization, strengthened governance, an financial target of €30 million EBITDA by 2023, an innovative HR strategy and strong CSR commitments.
| €m - Data at 31/12 | 2018 (12 months) |
2019 (12 months) |
Change | LFL growth1 |
|---|---|---|---|---|
| Total revenues | 163.2 | 203.2 | +25% | +7% |
| o/w recurring revenues | 97.7 | 127.1 | +30% | +9% |
| % recurring revenues | 60% | 63% | ||
| Integration - Dassault Systèmes | 108.6 | 126.2 | +16% | +2% |
| Software | 28.7 | 31.8 | +11% | +4% |
| Consulting | 16.1 | 32.3 | +101% | +28% |
| Integration – Business Development | 9.8 | 12.9 | +31% | +27% |
Consolidated 12-month revenues – Unaudited data
Visiativ posted Q4 2019 consolidated revenues of €76.3 million, up 12% including 5% like-for-like growth1 .
Full-year consolidated revenues totalled €203.2 million, exceeding the €200 million target which the Group expected to achieve in 2019. Overall growth came out at 25% for the year, combining like-for-like growth1 (7%) and the consolidation impact of acquisitions.
In 2019, Visiativ generated international revenues of €48.2 million, up 126% (up 20% like-for-like) and accounting for 24% of Group consolidated revenues (versus 13% in 2018).
1 Growth at constant consolidation scope adjusted for the consolidation of ABGI Group (01/04/2018), Valla (01/04/2018), Innova Systems (01/07/2018), Audros Technology (01/07/2018), Dimensions Group (01/12/2018), ABGI UK (former Jumpstart) (01/01/2019), CCSL (01/07/2019) and Living Actor (01/12/2019).
2019 revenues by division
• The Integration (Dassault Systèmes) division achieved overall growth of 16% in 2019 including 2% likefor-like growth. Business remained strong in Q4 2019 with record billings of over €50 million (€50.9 million), up 5% versus Q4 2018, which was already particularly high (27% total quarterly growth last year).
The division continued its international development driven primarily by the 2019 acquisition of UK-based CCSL and 14% organic growth outside France. The percentage of sales generated abroad came to 25% in 2019, up from 13% in 2018 and 8% in 2017.
- The Software division continued its transformation in 2019, with recurring business accounting for 49% of division revenues and SaaS sales (subscription) up 9% like-for-like, accounting for 25% of division revenues. Software revenues rose 11% year-on-year including 4% like-for-like growth.
- The Consulting division witnessed a buoyant year-end (79% growth including 50% like-for-like growth in Q4). Full-year sales doubled from €16.1 million to 32.3 million, reflecting the impact of acquisitions, the successful integration of Jumpstart in the UK and strong organic growth of 28%.
- The Integration - Business Development division, which covers Visiativ's cloud-based and Rapid Manufacturing businesses, finished the year on a strong note (70% growth in Q4) in line with the Q3 trend driven by the commercial and industrial restructuring of the division. Year-on-year growth came to 31% almost entirely consisting of organic growth (27%).
Recurring revenues (maintenance, SaaS, subscriptions) rose 30% in 2019 (up 9% like-for-like) and accounted for 63% of consolidated sales (versus 60% last year).
2019 profit growth target confirmed
After a brisk second half performance Visiativ has significantly exceeded its annual consolidated revenue target of €200 million.
This performance allows the group to confirm the EBITDA growth target for the year 2019 as a whole.
To coincide with the publication of 2019 full-year results in mid-March 2020, the Group will provide more information on the priority areas of the CATALYST 2023 strategic plan, including the profit growth drivers earmarked to generate EBITDA of €30 million by 2023.
Financial calendar
- FY 2019 results: Tuesday 17 March 2020
- Q1 2020 revenues: Wednesday 22 April 2020
- General Meeting: Thursday 28 May 2020
- H1 2020 revenues: Wednesday 29 July 2020
- H1 2020 results: Wednesday 23 September 2020
- 9-month 2020 revenues: Wednesday 21 October 2020
- FY 2020 revenues: Wednesday 27 January 2021
- FY 2020 results: Wednesday 24 March 2021
These dates have yet to be confirmed and may be subject to change if necessary. All publications will be issued after close of trading on Euronext Paris.
ABOUT VISIATIV
A true platform of human and digital experiences, Visiativ is a global player with multiple areas of expertise (consulting, software editing and integration, platform creation, IT outsourcing). Through its unique value proposition, it helps accelerate companies' innovation and digital transformation. Working with mid-caps since its foundation in 1987, the Visiativ Group posted 2019 revenues of €203 million and boasts a diverse portfolio of over 18,000 customers. Covering all of France's business hubs and with operations worldwide (Belgium, Brazil, Canada, USA, the Netherlands, Luxembourg, Morocco, UK and Switzerland), Visiativ has over 1,000 employees. The Visiativ share (ISIN code FR0004029478, ALVIV) is listed on Euronext Growth Paris. The share is eligible for the PEA and PEA-PME personal equity plans and FCPI/FIP investment funds, thanks to its status as an "innovative business" recognised by Bpifrance.
For further information, visit www.visiativ.com
| VISIATIV CONTACT | INVESTOR CONTACT | PRESS CONTACT |
|---|---|---|
| Lydia JOUVAL | ACTUS | ACTUS |
| External communication | Mathieu OMNES | Serena BONI |
| Tel.: +33 (0)4 78 87 29 29 | Tel.: +33 (0)1 53 67 36 92 | Tel.: +33 (0)4 72 18 04 92 |
| [email protected] | [email protected] | [email protected] |
Appendices
Q4 consolidated revenues – unaudited data
| €m | Q4 2018 | Q4 2019 | Change | LFL growth1 |
|---|---|---|---|---|
| Total revenues | 67.9 | 76.3 | +12% | +5% |
| o/w recurring revenues | 43.4 | 50.7 | +17% | +9% |
| % recurring revenues | 64% | 66% | ||
| Integration - Dassault Systèmes | 48.4 | 50.9 | +5% | -1% |
| Software | 10.6 | 9.7 | -9% | -10% |
| Consulting | 6.2 | 11.1 | +79% | +50% |
| Integration – Business Development | 2.7 | 4.7 | +70% | +70% |
1 Growth at constant consolidation scope adjusted for the consolidation of ABGI Group (01/04/2018), Valla (01/04/2018), Innova Systems (01/07/2018), Audros Technology (01/07/2018), Dimensions Group (01/12/2018), ABGI UK (former Jumpstart) (01/01/2019), CCSL (01/07/2019) and Living Actor (01/12/2019).
