Earnings Release • May 20, 2020
Earnings Release
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Euronext B – ISIN: FR0000071797 Reuters: ETOF.PA – Bloomberg: INF FP
Press Release Bagnolet, 20 May 2020
| Revenue (in €m) |
2020 | 2019 | % change 2020/ 2019 |
|---|---|---|---|
| Q1 | 65.97 | 62.85 | +5.0% |
| Services | 63.63 | 60.60 | +5.0% |
| Software | 2.34 | 2.25 | +4.0% |
Infotel posted revenue growth of +5.0% in Q1 2020, despite the Covid-19 pandemic whose initial effects were observed during March 2020, interrupting a nevertheless promising start to the year.
The sectors immediately impacted were Industry with Airbus and PSA, and Services/Transport with Air France, accounting for 30% of the Group's total revenue in 2019.
As soon as the discontinuation or suspension of client projects was announced, Infotel immediately took the necessary measures to deal with this situation: French government job retention scheme, reduction of sub-contracting, use of homeworking, anticipated holiday leaves, hiring freeze.
Given the current economic slowdown and the uncertainty related to developments in the pandemic, Infotel expects a decline in the level of activity in Q2. The Group cannot specify revenue and profitability objectives.
Infotel has observed profound changes which will have short/medium-term effects: homeworking which is here for the long term and will impact the management and location of teams, competitive advantages for clients which the Group has helped make the shift to digitisation and which are strengthening their positions, easing of the labour market, etc. Infotel's teams are already working to anticipate these effects.
Given its very solid financial position, with zero financial debt and net cash at the end of March 2020 of €77.5 million, Infotel has the necessary resources to get through this crisis and pursue its development. With a view to the gradual resumption in activity, barring a spike in the pandemic, Infotel is endeavouring to maintain all its teams and has not made any layoffs.
The Shareholders' Meeting held today in camera decided to reduce the dividend by 34% to €1.05.
Listed on Compartment B of Euronext Paris since January 1999 (ISIN code FR0000071797), Infotel specialises in information management systems for major accounts, from mobile to very high-volume databases (Big Data). Operating at the forefront of technological innovation, Infotel develops its expertise across two complementary divisions: IT services and software publishing. Infotel posted revenue of €248.4m in 2019 and employs over 2,500 people.
Michel Koutchouk Financial Communication Chief Executive Officer Ghislaine Gasparetto Tel.: +33 (0)1 48 97 38 38 Tel.: +33 (0)1 56 88 11 11 [email protected] [email protected]
Infotel Actifin
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