Press release: Paris, May 12, 2009
ACTIVITY FOR FIRST QUARTER 2009 UP 11.1%
| In €m |
2008 |
2009 |
Change % |
Turnover
France
International |
206.1
153.0
53.1 |
229.1
158.9
70.2 |
+11.1%
+3.8%
+32.1% |
| Labour Force |
11,000 |
12,600 |
+14.5% |
ACTIVITY:
- Activity for the first quarter is up 11.1% including acquisitions (3.8% in France, 32.1% abroad). On a like-for-like basis, activity fell 3.6% (-4.4% in France, -1.1% abroad), strongly impacted by the abrupt halt of projects in the Automotive sector. The impact of the Automotive sector aside, organic growth would have shown a slight increase during the first quarter.
- Activity in other sectors was also affected by the economic crisis but is satisfactory overall. The Energy, Banking and Finance, and Aerospace sectors grew compared to last year.
- The activity ratio for the first quarter is 88.1% (94% for the first quarter of 2008). Excluding the impact of the Automotive sector, the activity ratio is 91.8%, which is "only" 2% less than the 2008 ratio.
- The changing market has witnessed increased pricing pressures in all sectors as well as increased competitive pressure.
EXTERNAL GROWTH
ALTEN made three acquisitions during the first quarter of 2009:
- Two companies in France: one specialised in the design of "vehicle" systems, engine control and motorisation systems (180 consultants, turnover for 2008: €14M), and the other specialised in Banking and Finance activities (220 consultants, turnover: €28M).
- A company in Italy specialised in Telecoms and embedded Software (150 consultants, turnover: €10M)
These companies were consolidated as of January 1, 2009.
2009 OUTLOOK
Given the level of incertitude for the coming months, ALTEN has launched several plans:
- Partial unemployment for employees in the Automotive sector and the implementation of training and adaptation plans,
- Increase of the activity ratio by leveraging on the mobility of skills between the different sectors of activity and reducing the number of inter-contracts through turnover (net reduction in the number of consultants, 380 consultants in the first quarter)
- Reduction of general expenses,
- Increased rate of development in the most dynamic sectors.
Due to the unfavourable calendar of the first half of 2009 (2 working days less than the first half of 2008), ALTEN expects turnover for the first half of the year to rise by 5 to 7% compared to 2008 (and fall by approximately 6 to 7% on a like-for-like basis).
As the European Leader in Technology Consulting and Engineering, ALTEN carries out design and research projects for the technical and IT divisions of major clients in industry, telecoms and services. ALTEN's stock is listed on 'compartment B' of the Euronext Paris stock exchange (ISIN FR0000071946). It is part of the SBF 120, the IT CAC 50 and MIDCAP 100 indexes, and is eligible for the SRD.
Technology Consulting and Engineering
For more information: www.alten.fr
Contact: Matthieu Roquet Montégon 06 16 92 80 65