Board/Management Information • May 14, 2019
Board/Management Information
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Paris, May 14th 2019
| M€ - non audited | Q1'19 | Q1'18 | Var | ||
|---|---|---|---|---|---|
| Consolidated Sales | 6.6 | 11.0 | -4.4 | -40% | |
| Consolidated net revenues | 3.6 | 5.3 | -1.7 | -32% | |
| Videofutur (non consolidated net revenues) | 3.0 | 2.1 | +0.9 | +42% |
Consolidated revenue for Q1 2019 was € 6.6 million and net revenue € 3.6 million. Vitis (Videofutur) net revenue, not consolidated, was up 42% to € 3.0 million. For the first time, more than 50% of the net revenue for the Group's extended scope came from services, reflecting the change initiated several years ago.
In this context, Netgem's Board of Directors decided to separate the functions of Chairman and Chief Executive Officer, appointing Mr. Mathias Hautefort as its Chief Executive Officer, replacing Mr. Joseph Haddad who will remain Chairman. Mr. Mathias Hautefort will assume his new position on July 1st, 2019, and will remain President of Vitis (Videofutur). This evolution will not result in an increase in compensation costs.
"Mathias Hautefort has demonstrated, in the Group and before, his ability to develop service activities at the intersection of technology, media and telecoms. His appointment significantly strengthens the transformed Group's ability to return to growth" says Joseph Haddad, Chairman, CEO and co-founder of Netgem
"Netgem can build on its proven expertiseexperience in Services, coupled with an industrial capacity and innovation in Connected Devices, and a healthy balance sheet. I look forward to contributing to its development", says Mathias Hautefort, CEO nominated of Netgem
Mathias Hautefort, 51, is President and Founder of Vitis, created in 2016 with the support of three shareholders - Netgem, Caisse des Dépôts et Consignations and Groupe Oceinde. Vitis, a player in France's Broadband Plan, is dedicated to the development of very highspeed broadband internet in Public Initiatives Areas (rural areas and medium-sized cities), bringing to market innovative fiber offerings combining technology and content under the trademark Videofutur.
He joined the Netgem Group in 2013. Previously, he began his career at the Ministry of Economy, Finance and Industry, in the Auvergne region then at the Treasury Department, before being technical adviser to the Minister. He then joined Suez in 2000, where he was appointed Deputy Chief Executive Officer of Lyonnaise Cable (Noos). In 2005 he was Chief Executive Officer of Viaccess attached to the Content Division of the France Telecom Group. He was then Deputy General Manager of Infogrames (Atari) in 2007 and President of Pace Europe in 2008.
Mathias Hautefort is a graduate of Ecole Polytechnique and ENST (Corps des Mines).
● Half Year 2019 activity August 1st, 2019, before stock market opening ● Q1 2019 activity October 17, 2019, before stock market opening
NETGEM is the pioneer of the connected home, with the invention of the Box in 1996, and the co-creation of the independent operator of services for the very high-speed and Fiber in France, under the brand VideoFutur. Millions of homes around the world today use the NETGEM Box, under brands of our distribution partners, operators of telecommunications services and entertainment. NETGEM is listed on Euronext Paris Compartment C (ISIN: FR0004154060, Reuters: ETGM.PA, Bloomberg: NTG: FP)
www.netgem.com
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