Strategic acquisitions in Cloud and Big Data
Full-year 2015 guidance increased to almost € 480 million in
revenue with more than 6.5% operating margin
Regulatory News:
Devoteam (Paris:DVT):
In millions of euros Q3 2015 Q3
2014 9m 2015 9m 2014 France
48.6 47.4 150.4
137.9 Variation 2.6% 9.1%
L-f-l variation(1) 5.3% 2.2%
L-f-l variation(1) excl. DVO(3) 15.9%
13.1%
Rest of the world
66.3 57.7 196.7
183.4 Variation 15.0% 7.3%
L-f-l variation(1) 13.9%
9.2% L-f-l variation(1) excl. Between(2) 11.0%
6.4%
Total
114.9 105.0 347.1
321.2 Variation 9.4% 8.1%
L-f-l variation(1) 10.0% 6.2%
L-f-l variation(1) excl. Between(2) 8.2%
4.5% L-f-l variation(1) excl.
DVO(3) 14.8% 10.8% (1)At
comparable perimeter and exchange rates (2)"Between", a subsidiary
operating in the Netherlands on the market of sourcing of IT
professionals, has a very volatile contribution to revenue since,
depending on the terms and conditions of the contracts signed, the
revenue consolidated at Group level may be based on the contract's
gross margin or on the full amount invoiced to the final customer.
As a consequence, the Group decided to isolate this subsidiary when
calculating the growth rate of the consolidated revenues
(3)Outsourcing business
Devoteam (NYSE Euronext Paris: DVT) reported revenues of € 114.9
million for the third quarter of 2015, a 14.8% increase compared to
the third quarter of 2014, at comparable perimeter and exchange
rates, when excluding the impact of the outsourcing business in
France.
At current perimeter and exchange rates, the revenues of the
Group rose 9.4% in the third quarter of 2015 compared to the same
period last year.
Stanislas de Bentzmann, co-CEO of Devoteam, commented on these
results:
“The figures of the third quarter confirmed the good trend that
has been visible since the fourth quarter of 2014. It also
confirmed the success of the digital transformation and cloud
offers, on which the Group decided to invest. This business grew by
about 30% in Q3 2015 and reached 35% of the total business of the
Group.
“Based on these encouraging results, we have decided to
strengthen our leading position on Google offers with the
acquisition of myG, a start-up specialized in the Google Search for
Work and Google Drive for Work solutions.
“We also went one step further in the redefinition of our
portfolio of geographies, with the acquisition of Drago in Spain.
On top of being a major building block of our Business Intelligence
& Big Data offer, Drago allows Devoteam to grow on the Spanish
market, which becomes the second largest country of the Group with
five hundred employees. Devoteam thereby reaches in Spain the
critical size, which is a key element for all our strategic
geographies.”
Analysis of the revenue by region
In millions of euros Q3 2015 Q3
2014 9m 2015 9m 2014 New
Mediterranea(Solutions France, Consulting France, Tunisia)
35.1 32.8 110.3
104.7 Variation 7.1% 5.4%
L-f-l variation(1) 7.0% 5.4%
Northern Europe &
Belux(United-Kingdom, Norway, Denmark, Belgium, Luxembourg)
23.6 22.9 76.9
73.9 Variation 3.0% 4.1%
L-f-l variation(1) 4.0% 4.0%
Central Europe(Germany, Switzerland, Czech
Rep., Poland, Austria)
13.7 11.7
39.0 34.6 Variation 16.9%
12.5% L-f-l variation(1) 15.0%
10.7%
Single entities(S'team,
Middle East, Netherlands excl. Between, Spain)
18.6
13.1 52.0 39.5 Variation
42.1% 31.7% L-f-l
variation(1) 33.1% 23.5%
Others 23.8 22.7
67.8(2)
56.3 Variation 5.2%
20.4% L-f-l variation(1) 5.3%
-1.7% L-f-l variation(1) excl.
Between(3) -10.0% -23.6%
L-f-l variation(1) excl. DVO(4) 12.9%
28.8%
Divestments(5) -
1.8 1.1 12.2 Total
114.9 105.0 347.1
321.2 Variation 9.4% 8.1%
L-f-l variation(1) 10.0% 6.2%
L-f-l variation(1) excl. Between(3) 8.2%
4.5% L-f-l variation(1) excl.
DVO(4) 14.8% 10.8% (1)At
comparable perimeter and exchange rates (2)Of which € 5.9 million
in Q1 2015 and € 6.3 million in Q2 2015 of contribution of Axance
and gPartner (3)"Between", a subsidiary operating in the
Netherlands on the market of sourcing of IT professionals, has a
very volatile contribution to revenue since, depending on the terms
and conditions of the contracts signed, the revenue consolidated at
Group level may be based on the contract's gross margin or on the
full amount invoiced to the final customer. As a consequence, the
Group decided to isolate this subsidiary when calculating the
growth rate of the consolidated revenues (4)Outsourcing business in
France (5)In 2015, Divestments include Exa ECS. In 2014, it also
includes AuSystems Italy, CRM Poland and Devoteam Sweden
Headcount and utilization rate
On September 30th 2015, the Group employed 3 619 people, an
increase of 51 people over the quarter. The ratio of billable
headcount to total headcount remained at 84.6%, a stable level
compared to that of the 30th of June 2015. It improved sharply
compared to last year (84.1% on September 30th 2015, when excluding
the outsourcing business in France).
On the third quarter, the Group showed an improvement of the
utilization rate of internal resources1 excluding divestments,
which stood at 84.7%. This compares to 84.3% in the same period of
2014 and to 84.3% in the second quarter of 2015.
Utilization rate of internal resources, excluding divested
entities* Q1 2014 Q2 2014 Q3
2014 Q4 2014 FY 2014 Q1
2015 Q2 2015 Q3 2015 82.1%
83.5% 84.3% 83.7% 83.4% 82.9%
84.3% 84.7% *In 2015, the divested entities include Exa ECS.
In 2014, it also includes AuSystems Italy, CRM Poland and Devoteam
Sweden
2015 outlook
Taking into account the strong performance of the third quarter,
the Group revised upwards its full year targets again. Revenues are
now expected to land around € 475 million excluding the impact of
myG and Drago. These companies are consolidated as of October 1st
2015 and should bring an extra € 4 million to the revenues of the
Group in the fourth quarter. The operating margin should also end a
bit higher than the previously announced 6.5%. The two acquisitions
will have no significant impact on the percentage of operating
margin of the Group.
2016 financial calendar
Press release after market closed Full-year
2015 Q1 2016 March 9th 2016 May 18th 2016
Pro forma information on revenue
In millions of euros
Q3 2014 Q3 2014
restated(1) presented(2) New
Mediterranea 32.8 34.7 Northern
Europe & Belux(3) 22.9
11.3 Central Europe 11.7
11.7 Middle East & Turkey -
4.7 Single entities 13.1
13.5 Others 22.7 28.6
Divestments 1.8 0.5
(1)Reclassification of Devoteam Morocco from the segment "New
Mediterranea" to the segment "Others" Reclassification of Devoteam
Belgium and Devoteam Luxembourg from the segment "Single entities"
to "Northern Europe & Belux" Reclassification of Fornebu from
the segment "Others" to the segment "Northern Europe & Belux"
Reclassification of Devoteam Middle East from the segment "Middle
East & Turkey" to the segment "Single entities"
Reclassification of Devoteam Turkey from the segment "Middle East
& Turkey" to the segment "Others" Reclassification of S'team
from the segment "Others" to the segment "Single entities"
Reclassification of Exa ECS from the segment "Others" to the
segment "Divestments" (2)In the FY 2014 press release (3)"Northern
Europe" in the FY 2014 press release
1 Utilization rate measures the percentage of working hours
(excluding paid holidays) of billable employees that were billed to
a client
ABOUT DEVOTEAM
At Devoteam, we deliver innovative
technology consulting for business. We are 3,600 professionals
dedicated to ensuring our clients win their digital battles.Present
in 20 countries and drawing on 20 years of experience, we improve
business performance making their companies truly digital.
We build IT infrastructure for digital, and make sure people are
along for the ride.
In 2014, Devoteam achieved revenues of
443M€.At Devoteam, we are Digital Transformakers.ISIN: FR
0000073793, Reuters: DVTM.PA, Bloomberg: DEVO FP
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version on businesswire.com: http://www.businesswire.com/news/home/20151110006535/en/
DevoteamExecutive BoardStanislas de
Bentzmann,Co-CEOstanislas.de.bentzmann@devoteam.comorFinancial
communicationEvelyne Broisin,Group controlling & investor
relations directorevelyne.broisin@devoteam.comorPerrine
Angibault,Group reporting & investor relations
managerperrine.angibault@devoteam.comorPress
contactsDevoteamIsabelle Lovett, +33 6 69 58 29
03isabelle.lovett@devoteam.comorLe Public SystèmeJulie
Dramard, +33 1 70 94 65 98jdramard@lepublicsysteme.frorMorgane Ah
Kong, +33 1 41 34 22 30mahkong@lepublicsysteme.frorMarjorie
Lescure, +33 1 41 34 18
49mlescure@lepublicsysteme.frwww.devoteam.com
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