Paris, 31 August 2016,
(in € million)
H1 2016 (*)
Current Operating Income
Net Income, Group share
(*) At the date of this press release, the financial statements were approved on August 31 2016 by the Board of Directors. The limited review of accounts procedures is performed and the auditors' report is being sent.
Christophe Dumoulin, CEO of Business & Decision, comments: "The first half of 2016 reflects several major operational difficulties occurring in the second quarter of 2016, mainly in France and the United States. The action plan, aimed at a return to higher profitability levels, is in effect since the second quarter. It includes in particular overhauling governance, deployment of the new management structure, tightened control over large integration projects and termination of long-term unprofitable businesses. During the first semester, we maintained our recruitment program in light of our ambitions for expansion over the coming months."
A semester in transition
The first half of 2016 was characterized by significant changes in the Group's governance, following the death of the founder and chairman. Marking this transitional period was the necessity for in-depth analysis of the group’s situation and of the markets we are active in, in order to develop the action plan for the next three years.
The deteriorated results for the first half 2016 arise mainly from structural losses identified in specific activities that are ceased, and also from operational difficulties relating to several specific projects. The first half also shows the full impact on operating expenses of investment and recruitment activity over the last several months.
For the first half of 2016, revenue reached € 117.0 million, growing 3.2% compared to the first half of 2015. At constant exchange rates and comparable structure, the Group's revenue growth is 5.7%.
Current operating income is € -1.0 million, essentially due the losses of activities that were terminated during the period, and to project overruns recorded between May and June 2016.
Operating income is € -1.0 million. The restructuring costs recognized during the semester are offset by the proceeds from the sale of the ERP business in the United States, which occurred on March 31, 2016.
The financial result represents € -1.4m, not benefiting from positive impact of exchange rates as in H1 2015.
Net income was €-3.9m against €2.1m in the first half of 2015. Net income group share
The year 2016 should be marked by satisfactory growth in revenue. Eliminating unprofitable business activities should produce positive effect from the second half of 2016.
Upcoming Financial Dates
6 September 2016: Analysts & investors meeting
27 October 2015: 2016 third quarter revenue
31 January 2017: 2016 full year revenue
About Business & Decision
Business & Decision, an international Consulting and Systems Integration (CSI) company, is a leader in Business Intelligence (BI) and CRM, and a major player in e-Business. We leverage a unique combination of technical, functional and industry specialization, as well as partnerships with all of the key software vendors, to deliver maximum-value projects and help clients break through barriers to innovation such as Big Data and digital transformation. Business & Decision operates in 15 countries and employs over 2,500 people in France and worldwide.
Additional information is available at www.group.businessdecision.com
Business & Decision
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