Sopra Steria Group Sa · EURONEXT:SOP
Sopra Steria Group Sa — Sopra Group — H1 2010 Earnings Presentation
24 slides from Sopra Steria Group Sa's earnings presentation, Aug 5, 2010
Slide 1: 2010 Half Year Results Presentation
2010 Half Year Results Presentation 5 August 2010 Unissons nos Talents TALENTED TOGETHER Half Year Results – 5 August 2010 1
Slide 2: First Half 2010 Highlights
First Half 2010 Highlights Group revenue growth above 4% Organic growth in France: 3.9% Organic growth for Axway: 13.7% Improvement in current operating margins exceeds targets In France: 8.4%, + 2 points (ex. CVAE, improvement of 0.8 point) For Axway: 8.6%, + 8.5 points (ex. CVAE, impro
Slide 3: Agenda
Agenda First Half 2010 Achievements Complementary Information Strategy and Outlook Half Year Results – 5 August 2010 3
Slide 4: Revenue (€m)
Revenue (€m) 569.0 M€ 544.8 M€ Growth : H1 Q2 Total +4.4% +6.0% Organic +4.3% +5.5% 386.9 372.2 Organic Growth H1 Q2 CSSI* France + 3.9% + 4.5% CSSI* Europe - 3.3% + 0.0% Axway + 13.7% + 14.7% 89.5 86.9 83.1 95.2 1st Half 2009 1st Half 2010 * CSSI: Consulting and Systems & Solutions Integration Half
Slide 5: Income Statement
Income Statement 1st Half Year 1st Half Year 1st Half Year Change 2010 2010 2009 2010/2009 Restated (CVAE) M€ % M€ % M€ % % % Revenue 569.0 569.0 544.8 + 4.4% Staff costs - Employees -393.1 -393.1 -374.6 + 4.9% + 3.9% Staff costs - Contractors -37.4 -37.4 -39.6 - 5.6% Operating expenses -88.3 -93.4
Slide 6: Operating Profit by Division
Operating Profit by Division 30/06 30/06 30/06 2010 2010 2009 Restated (CVAE) Total Sopra Group Revenue €m 569.0 569.0 544.8 Profit from recurring operations €m / % 42.2 7.4% 37.0 6.5% 26.5 4.9% Operating profit €m / % 38.8 6.8% 33.8 5.9% 22.9 4.2% Net profit €m / % 19.8 3.5% 19.8 3.5% 10.8 2.0% of
Slide 7: Balance Sheet
Balance Sheet 30/06 30/06 31/12 €m 2010 2009 2009 Goodwill 381.9 377.6 356.6 Allocated intangible assets 25.1 24.7 23.1 Other fixed assets 43.2 41.0 40.4 Assets 450.2 443.3 420.1 Trade accounts receivable (net) 371.1 358.0 333.9 Other assets and liabilities -377.6 -339.5 -334.9 Operating assets and
Slide 8: Change in Equity
Change in Equity €m Position at 31 December 2009 281.7 Dividends - 9.4 Net profit - Group share 19.8 Capital increase through exercise of share options 0.3 Purchase or sale of own shares 0.1 Share-based payments 0.2 Actuarial differences - 3.2 Variation of financial instruments - Translation adjustm
Slide 9: Change in Net Debt
Change in Net Debt 30/06 30/06 31/12 €m 2010 2009 2009 Net debt at opening 137.4 198.2 198.2 Gross cash flow from operations before net financial debt & tax 54.6 32.4 94.6 Tax paid - 5.3 - 12.9 - 32.2 Changes in working capital requirements - 27.6 26.4 50.2 Net cash flow from operations 21.7 45.9 11
Slide 10: Financial Ratios
Financial Ratios 74% 4.98 49% 41% 1.69 0.92 Résultat net de Endettement net / base par action (€) Capitaux propres 30/06/2009 31/12/2009 30/06/2010 Half Year Results – 5 August 2010 10
Slide 11: Agenda
Agenda First Half 2010 Achievements Complementary Information Strategy and Outlook Half Year Results – 5 August 2010 11
Slide 12: Business Sector & Vertical Market Positioning
Business Sector & Vertical Market Positioning Retail Axway Banking Public Sector 8% 8% 17% 22% 22% 17% Consulting, 17% 17% Proprietary Systems 7% 12% 12% 7% Solutions Integration 10% Insurance Telecoms 10% & 17% 17% 71% 71% Application 19% 19% Outsourcing Services, Manufacturing Transports & Utiliti
Slide 13: Revenue by Region
Revenue by Region Switzerland Italy Benelux United Kingdom 5% 5% Spain 6% 6% 7% 7% USA / Asia France 6% 6% 82% 82% 20% 20% Europe France Sopra Group Revenue (ex. Axway) ex. France Asia 74% 74% 2% 2% USA 33% 33% 37% 37% France Revenue: Sopra Group & Axway 28% 28% Europe ex. France Axway Revenue Half
Slide 14: Axway pro forma Revenue (1$=1€)
Axway pro forma Revenue (1$=1€) Asia Services 2% 2% USA 26% 26% 34% 34% 35% Licences 35% France 37% 37% 40% 40% 26% 26% Maintenance Europe ex. France Type of Revenue (1$ = 1€) Geographies ($1=1€) Half Year Results – 5 August 2010 14
Slide 15: Change in Workforce (excluding contractors)
Change in Workforce (excluding contractors) 13,030 12,750 12,450 8,590 8,820 8,335 ex. France France Group 4,160 4,115 4,210 June 2009 December 2009 June 2010 Half Year Results – 5 August 2010 15
Slide 16: Agenda
Agenda First Half 2010 Achievements Complementary Information Strategy and Outlook Half Year Results – 5 August 2010 16
Slide 17: Group Strategy
Group Strategy Two Brands for Two Well-Defined Strategic Profiles Sopra Group reconfirms its strategic focus on systems integration and services with an offerings continuum covering Consulting | Projects | Application Outsourcing | Proprietary Solutions Axway confirms its European-American strat
Slide 18: Independent Strategy for Sopra Group (IT)
Independent Strategy for Sopra Group (IT) Pursuit of multiple, growth-driving, transformation initiatives Pursuit of the Industrialisation programme Development of the Business Lines and Offerings programme Further investment in the Key Accounts programme Increased investment in the bankin
Slide 19: Outlook
Outlook For 2010 Sopra Group: organic growth and slight improvement of the current operating margin Axway: organic growth and slight improvement of the current operating margin Three-year horizon for Sopra Group Sustainable organic growth External growth in France and Europe Margin tar
Slide 20: Questions
Questions Unissons nos Talents TALENTED TOGETHER Half Year Results – 5 August 2010 20
Slide 21: Appendices
Appendices Unissons nos Talents TALENTED TOGETHER Half Year Results – 5 August 2010 21
Slide 22: Income Statement IFRS 5 – Sopra Group
Income Statement IFRS 5 – Sopra Group 1st Half Year 1st Half Year 1st Half Year Change 2010 2010 2009 2010/2009 Restated (CVAE) M€ % M€ % M€ % % % Revenue 475.2 475.2 462.1 + 2.8% Staff costs - Employees -328.9 -328.9 -317.2 + 3.7% + 2.4% Staff costs - Contractors -36.6 -36.6 -39.6 - 7.6% Operating
Slide 23: Simplified Balance Sheet IFRS 5
Simplified Balance Sheet IFRS 5 30/06 30/06 31/12 €m 2010 2009 2009 Goodwill 207.3 377.6 356.6 Allocated intangible assets 2.0 24.7 23.1 Other fixed assets 39.1 41.0 40.4 Assets 248.4 443.3 420.1 Trade accounts receivable (net) 322.8 358.0 333.9 Other assets and liabilities 130.1 - - Operating asset
Slide 24: Income Statement IFRS 5 – Axway
Income Statement IFRS 5 – Axway 1st Half Year 1st Half Year 1st Half Year Change 2010 2010 2009 2010/2009 Restated (CVAE) M€ % M€ % M€ % % Revenue 95.3 95.3 83.1 + 14.7% Staff costs - Employees -63.9 -63.9 -57.4 + 11.3% Operating expenses -22.2 -22.7 -24.6 - 9.8% Depreciation and provisions -1.0 -1.