imagitek

Transcription

imagitek

Q1 2010 Revenues
3 mai 2010
Yves de Chaisemartin
CEO
Gérald Berge
CFO
1
1.
2.
3.
4.
Executive summary
Revenues change
Staff
Conclusion
2
Executive summary – Key events
1
Q1 2010 revenues : €351,6m showing a 3,6% decline
excluding Arthur D.Little; gross decline is 5,3% (€371,4
m in Q1 2009)
2
Despite the traditional drop of activity in the beginning
of the year, revenues excluding Arthur D.Little are
growing organically of 1,2% compared to Q4 2009,
confirming
the
general
improvement of
the
environment since September 2009
3
Arthur D.Little is showing a limited decrease of its activity
of 3,4% compared to Q1 2009
4
Invoicing rate is still growing at 81,3%, a sequential
increase compared to Q4 2009
3
Executive summary - activity
1
France is showing improved performances compared
to Q4 2009 (+ 0,8% sequentially) despite the traditional
drop of activity at the beginning of the year
2
Southern
countries
are
still
showing
solid
performances with a growth YoY excluding Arthur
D.Little for the main countries : Spain + 4,3% and Italy +
3,8%
3
Some northern countries start to show better revenues
like UK (+2,2% YoY) and Scandinavia (+3,5% YoY)
4
Group’s Activities review is continuing with the disposal
of a US subsidiary (Imagitek) representing €3,5m of annual
revenues
The disposal of Fagro Consultancy BV as of 31.12.2009 is
impacting Benelux.
4
Quarterly revenues change (in €m)
423,2
424,3
422,6
408,5
394,3 395,1
394,6
378,7
371,4
355,7 351,6
349,7
327,0
Q1 2007
Q2 2007 Q3 2007
Q4 2007
Q1 2008
Q2 2008
Q3 2008 Q4 2008
Q1 2009
Q2 2009
Q3 2009 Q4 2009
Q1 2010
5
Q1 2010 revenues per country excl. Arthur D.Little
(in €m)
■ USA *
- 34,2%
11,4
9,2
■ Asia
-24,9%
(Q1 09 vs Q1 10)
8,4
8,9
2,0
1,3
7,5
Q1 09 Q2 09 Q3 09 Q4 09 Q1 10
1,4
■ UK
+ 2,2%
(Q1 09 vs Q1 10)
1,5
20,9
1,5
■ Benelux *
19,0 19,4
19,0
21,3
Q1 09 Q2 09 Q3 09 Q4 09 Q1 10
Q1 09 Q2 09 Q3 09 Q4 09 Q1 10
- 22,3%
(Q1 09 vs Q1 10)
33,3
(Q1 09 vs Q1 10)
30,6 29,6 30,8
25,9
Q1 09 Q2 09 Q3 09 Q4 09 Q1 10
■ Scandinavia
+ 3,5%
■ Brazil
- 4,0%
- 19,6% (Q1 09 vs Q1 10)
5,8
5,3
6,1
■ France
168,6
5,6
4,3
151,6
(Q1 089 vs Q110)
6,2
5,0
6,3
6,3
(Q1 09 vs Q1 10)
161,4
141,8
Q1 09 Q2 09 Q3 09 Q4 09 Q1 10
161,8
■ Germani &
1,8
Austria
- 8,3%
Q1 09 Q2 09 Q3 09 Q4 09 Q1 10
Q1 09
Q2 09
Q3 09
Q4 09
Q1 10
25,5
24,4
(Q1 09 vs Q1 10)
24,5
25,6
23,6
* Area where disposal have been realized
Q1 09 Q2 09 Q3 09 Q4 09 Q1 10
■ Spain
+ 4,3%
24,9
■ Portugal
- 3,0%
(Q1 09 vs Q1 10)
25,1 23,5
25,7 26,0
Q1 09 Q2 09 Q3 09 Q4 09 Q1 10
5,1
4,9
(Q1 09 vs Q1 10)
4,7 5,1 4,9
Q1 09 Q2 09 Q3 09 Q4 09 Q1 10
■ Italy
+ 3,8%
36,9
42,5
■ Switzerland
(Q1 09 vs Q1 10)
34,8 37,9
38,4
Q1 09 Q2 09 Q3 09 Q4 09 Q1 10
- 5,6%
4,4
3,7
(Q1 09 vs Q1 10)
3,3
3,8
4,1
Q1 09 Q2 09 Q3 09 Q4 09 Q1 10
6
Quarterly Arthur D.Little revenues change (in €m)
46,9
42,1
41,8
38,6
27,0
Q1 2008
Q2 2008
Q3 2008
Q4 2008
Q1 2009
27,8
25,3
24,8
Q2 2009
Q3 2009
Q4 2009
26,1
Q1 2010
7
Staff
8
Personalized Voluntary Departure Plan
Personalized Voluntary Departure Plan translates into 551
demands accepted by the group
- 92 departures were effective as of December 31st, 2009
- 150 departures were effective as of March 31st, 2010
There is 309 remaining departures that will mainly be effective
during Q2 2010
9
Staff change
■ total staff is down by 410 since December 31st, 2009 due to :
■ 150 departure due to the Personalized Voluntary Departure Plan
■ A decrease of 208 due to disposals of subsidiaries
■ A net decrease of staff of 52
18 405
18 522
18 030
17 997
17 502
17 650
- 410
17 548
17 227
17 149
16 739
16022
16146
15694
15619
15109
- 366
15263
15289
15018
14987
14621
Dec 07
March 08
June 08
Sept 08
Dec 08
March 09
June 09
sept-09
Dec 09
March 10
10
Total staff
of which consultants
Invoicing rate
■ Invoicing rate is
■ Invoicing rate is equal
computed out of
all the resources
internal and
external used by
the group
to the ratio between
number of billed days
and number of potential
billable days excluding
legal vacations
Invoicing
rate
Invoicing
rate
Invoicing
rate
■ Invoicing rate is
increasing since
September 2009
Average
Q1 2008
Average
Q2 2008
Average
Q3 2008
Average
Q4 2008
Average
Q1 2009
Average
Q2 2009
Average
Q3 2009
Average
Q4 2009
Average
Q1 2010
84,0%
85,0%
84,6%
82,3%
77,9%
77,6%
78,2%
80,8%
81,3%
Average H1 2008
Average H2 2008
Average H1 2009
Average H2 2009
84,5%
83,5%
77,8%
79,6%
Average 2008
Average 2009
84,0%
78,6%
Lack of industry standards on the definition make any comparison with other players difficult
11
Conclusion
12
Conclusion
The beginning of the year saw an uptick in business levels, a
trend that is expected to continue in the months to come. Certain
macro-economic uncertainties persist, and prices are still under
more intense pressure.
In addition, Altran's efforts to control costs and adapt its workforce
to meet client demand should bear fruit this year and are
expected to result in a material improvement in the group's
operating margin compared with 2009.
13
Appendix
14
Q1 2010 revenues change (in €m)
Q1 2010 revenues stood at €351,6m down 5,3% compared to Q1 2009
(€371,4m)
Organic growth excluding Arthur D.Little is - 3,6%
FX impact in Q1 2010 compared to Q1 2009 is + 0,4%
15
Group revenues change
Revenues without contribution of acquired/divested
companies and Arthur D.Little (a)
Q1 2009
Q1 2010
change
(in €m)
(in €m)
(en%)
337,6
325,5
- 3,6
-
-
6,7
-
-
27,0
26,1
- 3,4
371,4
351,6
- 5,3
Contribution of acquired companies (b)
Contribution of divested companies (c)
Arthur D.Little (d)
Total consolidated (a+b+c+d)
16
France revenues change
Q1 2009
Q1 2010
Change
(in € m)
(in €m)
(in%)
168,6
161,8
- 4,0
-
-
-
-
-
-
0,9
2,7
+ 194,5
169,5
164,5
- 2,9
Arthur D.Little (d)
17
International revenues change
Q1 2009
Q1 2010
Change
(in €m)
(in € m)
(en%)
169,1
163,7
- 3,1
-
-
6,7
-
26,1
23,4
- 10,5
201,9
187,1
- 7,3
Arthur D.Little (d)
18
Sequential revenues change
Q1 2010 revenues stood at €351,6m down 1,1% compared to Q4 2009
(€355,7m)
Organic growth excluding Arthur D.Little is + 1,2 %
A + 0,6% positive FX impact compared to Q4 2009
19
Group sequential revenues change
Q4 2009
Q1 2010
Change
(in €m)
(in €m)
(in%)
321,5
325,5
+ 1,2
-
-
-
6,4
-
-
27,8
26,1
- 6,1
355,7
351,6
- 1,1
Arthur D.Little (d)
20
France sequential revenues change
Q4 2009
Q1 2010
Change
(in €m)
(in €m)
(in%)
161,4
161,8
+ 0,2
-
-
-
-
-
-
1,7
2,7
+ 55,8
163,1
164,5
+ 0,8
Arthur D.Little (d)
21
International sequential revenues change
Q4 2009
Q1 2010
Change
(in €m)
(in €m)
(in%)
160,1
163,7
+ 2,2
-
-
-
6,4
-
-
26,1
23,4
- 10,3
192,5
187,1
- 2,8
Arthur D.Little (d)
22
Geographical split
Revenues change by quarter (in €m)
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Q1 2010
173,0
156,4
146,4
166,4
167,4
North Region
95,6
89,4
86,8
90,6
85,6
South Region
72,1
77,3
68,0
69,9
73,0
Arthur D. Little
27,5
25,6
25,1
28,3
26,5
Rest of the world
11,7
8,8
8,5
9,5
8,3
France
Eliminations
Total
-
8,5
371,4
-
7,6
349,7
-
7,8
327,0
-
9,0
355,7
-
9,2
351,6
23
Q1 2010 revenues by country with Arthur D.Little
(in €m)
■ Asia
■ USA
- 32,3%
(Q1 09 vs Q1 10)
12,5
8,5
Q1 2009
Q1 2010
-12,0%
■ UK
9,8
Q1 2009
- 0,5%
(Q1 09 vs Q1 10)
■ Benelux
(Q1 09 vs Q1 10)
- 21,8%
(Q1 09 vs Q1 10)
35,7
8,6
23,4
23,2
Q1 2010
Q1 2009
Q1 2010
27,9
Q1 2009
Q1 2010
■ Scandinavia
+ 14,4%
■ France
■ Brazil
- 2,9%
- 19,6% (Q1 09 vs Q1 10)
4,3
Q1 2009
Q1 2010
■ Spain
+ 3,6%
164,5
9,5
Q1 2009
Q1 2010
■ Germany &
Austria
Q1 2009
- 3,0%
(Q1 09 vs Q1 10)
25,9
26,8
5,1
Q1 2009
Q1 2010
Q1 2009
4,9
Q1 2010
- 11,5%
Q1 2010
■ Portugal
(Q1 09 vs Q1 10)
8,3
(Q1 09 vs Q1 10)
169,5
5,3
(Q1 09 vs Q1 10)
■ Italy
+ 4,2%
(Q1 09 vs Q1 10)
31,5
27,9
Q1 2008
Q1 2009
■ Switzerland
(Q1 09 vs Q1 10)
38,9
40,6
Q1 2009
Q1 2010
- 10,6%
(Q1 09 vs Q1 10)
5,5
4,9
Q1 2009
Q1 2010
24
Northern Region revenues change with
Arthur D.Little (in €m)
■ Germany &
■ Benelux
- 21,8%
35,7 32,9
31,3 34,1
Q1 09
Q2 09
Austria
(Q1 09 vs Q1 10)
Q3 09
27,9
Q4 09
Q1 10
- 11,5%
(Q1 09 vs Q1 10)
31,5 29,8 31,6 32,4 27,9
Q1 09
Q2 09
Q3 09
Q4 09
■ UK
- 0,5%
Q1 10
■ Asia
- 12,0%
(Q1 09 vs Q1 10)
9,8
23,4 22,4 22,1 21,4 23,2
Q1 09
Q2 09
Q3 09
Q4 09
Q1 10
Q1 09
■ Switzerland
- 10,6% (Q1 09 vs Q1 10)
5,5 4,4
3,9 4,6 4,9
Q1 09
Q2 09
Q3 09
Q4 09
Q1 10
6,9
Q2 09
(Q1 09 vs Q1 10)
8,0
7,6
Q3 09
Q4 09
8,6
Q1 10
■ Scandinavia
+14,4%
8,3
8,4
Q1 09
Q2 09
(Q1 09 vs Q1 10)
6,5
Q3 09
9,0
9,5
Q4 09
Q1 10
25
Southern region revenues change with
Arthur D.Little (in €m)
■ Brazil
- 19,6%
5,8
5,3
■ Portugal
(Q1 09 vs Q1 10)
5,6
-3,0%
4,3
(Q1 09 vs Q1 10)
5,1
4,9 4,7
5,1 4,9
Q1 09
Q2 09
Q4 09
1,8
Q1 09
Q2 09
Q3 09
Q4 09
Q1 10
Q3 09
Q1 10
■ Italy
+ 4,2%
38,9
Q1 09
■ USA
- 32,3%
12,5
Q1 09
(Q1 09 vs Q1 10)
44,7
36,5
Q2 09
Q3 09
40,2 40,6
Q4 09
Q1 10
■ Spain
(Q1 09 vs Q1 10)
10,2
9,6
10,1
Q2 09
Q3 08
Q4 09
8,5
+ 3,6%
(Q1 09 vs Q1 10)
25,9 26,2 23,9 26,3 26,8
Q1 10
Q1 09
Q2 09
Q3 09
Q4 09
Q1 10
26

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