Neurones S.A. — Earnings Release 2019

Sep 11, 2019

National Storage Mechanism | Additional information

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PRESS INFORMATION

Heading: 1st half 2019 results                                                    Nanterre, September 11, 2019 (after trading)

1st half 2019 operating profit stands at 10.9%

Accounts at June 30 (audited in € millions)	H1 2018	2018	H1 2019
Revenue	243.1	490.1	253.8
Business operating profit *	21.3 (8.8%)	47.1 (9.6%)	28 (11%) **
Operating profit	20.6 (8.5%)	46 (9.4%)	27.6 (10.9%) **
Net financial income	0.7	1.6	0
Income tax	(7.5)	(18)	(9.1)
Net profit after tax	13.8 (5.7%)	29.6 (6%)	18.5 (7.3%)
of which, group share	12.1	26	15.9
Staff at end of period	5,123	5,160	5,217

Achievements

At identical scope, first half-year growth was 5.3%.

Before taking into account a non-recurring gain **, the first half-year operating profit would have been 9.1% of revenue (compared with 8.5% in the first half of 2018).

The first application of IFRS 16 on leases has no material impact on the operating profit and generated a decrease of €0.5 million in financial income.

Over one year, net cash (excluding IFRS 16 lease liabilities) increased by €34 million. At June 30, 2019, net cash totaled €182.3 million.

Finally, employee turnover decreased by nearly 5 points compared with the first half of 2018.

Outlook

For the year 2019, NEURONES confirms its forecasts:

• consolidated revenue of approximately €505 million,
• operating income of between 10 and 10.5% **.

*   Before the cost of bonus shares.

** A disposal gain of +€4.6 million was recorded at end-January. This increased the operating profit by 1.8% for the half year and 0.9% for the year as a whole.

About NEURONES

With 5,200 experts, the NEURONES group specializes in Consulting (Management, Organization and Digital) and IT Services (Infrastructures and Applications). It supports its clients in their digital transformation and information system outsourcing projects.

Euronext Paris (compartment B - NRO) - Enternext Tech 40 – SRD medium values

www.neurones.net

Press Relations: O’Connection Floriane Monnier Tel.: +33 6 32 37 57 28 [email protected]	NEURONES Matthieu Vautier Tel.: +33 1 41 37 41 37 [email protected]	Investor Relations: NEURONES Paul-César Bonnel Tel.: +33 1 41 37 41 37 [email protected]

PRESS INFORMATION

Heading: 1st half 2019 results                                                    Nanterre, September 11, 2019 (after trading)

1st half 2019 operating profit stands at 10.9%

Accounts at June 30 (audited in € millions)	H1 2018	2018	H1 2019
Revenue	243.1	490.1	253.8
Business operating profit *	21.3 (8.8%)	47.1 (9.6%)	28 (11%) **
Operating profit	20.6 (8.5%)	46 (9.4%)	27.6 (10.9%) **
Net financial income	0.7	1.6	0
Income tax	(7.5)	(18)	(9.1)
Net profit after tax	13.8 (5.7%)	29.6 (6%)	18.5 (7.3%)
of which, group share	12.1	26	15.9
Staff at end of period	5,123	5,160	5,217

Achievements

At identical scope, first half-year growth was 5.3%.

Before taking into account a non-recurring gain **, the first half-year operating profit would have been 9.1% of revenue (compared with 8.5% in the first half of 2018).

The first application of IFRS 16 on leases has no material impact on the operating profit and generated a decrease of €0.5 million in financial income.

Over one year, net cash (excluding IFRS 16 lease liabilities) increased by €34 million. At June 30, 2019, net cash totaled €182.3 million.

Finally, employee turnover decreased by nearly 5 points compared with the first half of 2018.

Outlook

For the year 2019, NEURONES confirms its forecasts:

• consolidated revenue of approximately €505 million,
• operating income of between 10 and 10.5% **.

*   Before the cost of bonus shares.

** A disposal gain of +€4.6 million was recorded at end-January. This increased the operating profit by 1.8% for the half year and 0.9% for the year as a whole.

About NEURONES

With 5,200 experts, the NEURONES group specializes in Consulting (Management, Organization and Digital) and IT Services (Infrastructures and Applications). It supports its clients in their digital transformation and information system outsourcing projects.

Euronext Paris (compartment B - NRO) - Enternext Tech 40 – SRD medium values

www.neurones.net

Press Relations: O’Connection Floriane Monnier Tel.: +33 6 32 37 57 28 [email protected]	NEURONES Matthieu Vautier Tel.: +33 1 41 37 41 37 [email protected]	Investor Relations: NEURONES Paul-César Bonnel Tel.: +33 1 41 37 41 37 [email protected]

Attachment

• NEURONES - 1st half 2019 results