Q revenue. Analysts & Investors Presentation

Transcription

1 Analysts & Investors Presentation

2 2 Contents I. Q highlights II. Detailed results III. Outlook IV. Conclusion

3 3 01 Q highlights

4 4 Q results Highlights Q3 revenue up by 12.2% on a reported basis Strong intrinsic performance penalised by a few limited factors Strong international growth (Iberia, ROFF and IMPAQ) Business activity continues to be buoyant Ongoing transformation allowing to fully capture our markets' growth and foster delivery efficiency Search for acquisitions opportunities The proportion of international business is likely to increase further A strengthening strategic plan with the support of Mannai Corp.

5 Q results Key figures Q revenue 5 Revenue Q Reported Q Organic 9m 2017 Reported 9m 2017 Organic France % -1.6% % -2.1% International % +7.6% % +10.0% Group % +0.0% % -0.2%

6 Revenue & overall growth Gfi organic growth Q results Benchmarks and hiring pressures continue to adversely impact results in France Financial data (France) Comments Q revenue % 8.3% 5.9% 5.9% 7.4% 3.5% 3.2% 1.8% 1.5% (1.6%) (4.8%) H1-15 H2-15 Q1-16 Q2-16 Q3-16 Q4-16 Q1-17 Q2-17 Q3-17 Q revenue of million saw a slight dip (0.9%), of which a 1.6% contraction in organic revenue including i/ a working days impact of (1.6%) and ii/ the impact of the contractual decline in the 3SI outsourcing contract of (1.7%). Adjusted results were positive in Q3 and over nine months The average daily rate and activity rate were broadly flat compared with Q3 2016, being solid in Infrastructure Services and weaker in Application Services and Consulting 10.0% 15.6% 15.9% 13.1% 9.1% 8.5% 10.8% 8.1% % 1.2% (3.5%)(0.9%) H1-15 H2-15 Q1-16 Q2-16 Q3-16 Q4-16 Q1-17 Q2-17 Q3-17 Productive employees totalled 8,598 at end-q3 2017, versus 8,481 in Q3 2016, an increase of 1.3% The rise in the churn rate remains one of the key factors for controlling growth Business activity in Q3 was very buoyant, with a rolling book-to-bill ratio at 30 September 2017 of 1.29 Revenue ( m) Overall growth

7 7 Q results International business a long-term growth driver Financial data (International) Org. chg. yoy. 20.0% 0,6% 2.1% 4.5% 1.0% 6.1% 2.4% 7.6% 12.3% 1.2% 9.1% 10.2% 8.7% 12.3% 13.3% 9.3% 7.6% (0.8%) (0.4%) (3.3%) (8.4%) (12.0%) (5.6%) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q International revenue 68.7 million in Q3 2017, i.e. 26.5% of Group revenue, up 77.0% yoy., of which 7.6% organic growth: Iberia - Latam ( 52.3 million) - Spain and Portugal continue to benefit from a sustained momentum, posting an organic growth in Q of respectively 5.0% and 15.7% Northern and Eastern Europe ( 12.8 million) - Growth of 30.3%, of which 9.7% on a like-for-like basis. IMPAQ (Poland) continues to drive the performance, generating an organic growth of 24.7% over the quarter Morocco - Africa ( 2.6 million) - Growth of 22.4%, of which 19.9% on a like-for-like basis. The Group is gradually implementing the operational system (commercial and delivery) that should enable it to take full advantage of this region's potential by pushing its integration (notably SAP) and software offers

8 8 02 Outlook

9 9 Outlook 2017 growth: acceleration in France and international expansion Drivers unchanged Account management across our whole footprint Acquisition of major multi-year contracts reinforcing our recurring revenue base Development of our solutions internationally Business synergies on recent acquisitions (IMPAQ, Efron, ROFF, Metaware, etc.) Strong sales momentum in France At end of Q month rolling B-to-B: 1.29 Weighted pipeline: +30% yoy. A wealth of structural opportunities based on the transformation of our customers organisations Strong growth in international activities Sustained growth in Iberia, accentuated by the leverage of recent acquisitions (Efron, ROFF) Acceleration in regions covered as from 2016 (Eastern Europe and LatAm) Development of new markets (Asia, Romania, etc.)

10 Outlook 2017 profitability: improvement in France in H2 and growing international contribution Q revenue 10 Tangible improvement factors Major profitable transactions signed ROI phase on the plan bringing the internationalisation of our solutions Synergies on recent acquisitions (ROFF, Efron, Metaware, etc.) Strong seasonality again between H1 and H2, thanks in particular to embedded profitable growth from recently signed contracts and a more favourable calendar Continuation of the M&A strategy Gfi Informatique is pursuing its external growth strategy, targeting high value-added and international opportunities, aimed at achieving critical mass across our whole current footprint For the 2017 financial year, mindful of the economic context and strengthened by its achievements and solid balance sheet, the Group confirms its objectives, namely to increase its revenue and operating margin by continuing its transformation and continuing to grow abroad

11 11 04 Conclusion

12 12 Conclusion A new expansion phase With the support of Mannai, Gfi is implementing its three-year strategic plan targeting revenue of 2 billion, underpinned by strong international growth and an operating margin in line with those of the sector leaders A roadmap based on: Gaining market share across our current footprint Enhancing value through the integration of high value-added solutions An organisation allowing to capture our markets' growth potential Strengthening our hiring strategy Improving our delivery efficiency (automation, near/offshoring, etc.) An acceleration potential including: Major European deals (Iberia, BeLux, Italy, etc.) enabling us to target a leadership position Addition or reinforcement of high value-added skills centres (digital transformation, big data, etc.) to be leveraged at Group level Strengthening of markets that the Group has recently entered offering strong growth and favourable competitive environments (LatAm and/or Eastern Europe)

13 FRANCE SPAIN PORTUGAL BELGIUM SWITZERLAND LUXEMBOURG UNITED KINGDOM POLAND ROMANIA MOROCCO COTE D IVOIRE ANGOLA USA MEXICO COLOMBIA BRAZIL