Slide 1: 2011 Annual results
2011 Annual results Information meeting – 8 March, 2012
Slide 2: The speakers
THE SPEAKERS 1 Jean-Philippe Roesch Chantal De Vrieze Charles de Stoop Managing Director Country Manager Benelux Group Controller Chief Executive Officer
Slide 3: Econocom: Key figures
ECONOCOM: KEY FIGURES The European leader in business-to-business 2 ICT infrastructure management 3,700 employees €1.58 billion revenue Established in 17 countries across Europe 3.6 million assets managed since 1986
Slide 4: Econocom's comprehensive offer
ECONOCOM’S COMPREHENSIVE OFFER DISTRIBUTION INFRASTRUCTURE LEASING AND ASSET 3 OF PRODUCTS AND SERVICES MANAGEMENT SOLUTIONS CONSULTANCY CONSULTANCY CONSULTANCY SOURCING INTEGRATION FINANCIAL ENGINEERING ROLL-OUT OUTSOURCING MANAGEMENT TECHNOLOGICAL INFRASTRUCTURES Mobile equipment Workstations Netw
Slide 5: Overview of 2011
OVERVIEW OF 2011 4 OPERATIONAL STRATEGIC ECS successfully A year full of Continued investment in integrated and successes and promising growth areas another year of organic growth new projects in line with the group’s 5 FINANCIAL corporate values Record operational performance and net debt reduced t
Slide 6: Agenda for the financial meeting
AGENDA FOR THE FINANCIAL MEETING 5 ECONOCOM Group’s 5 key corporate values Highlights Results Strategy Objectives Econocom and the stock market
Slide 7: Highlights
BE ENTERPRISING Highlights MOBILITY ON DEMAND
Slide 8: Major internal investments
MAJOR INTERNAL INVESTMENTS 7 MANAGEMENT IDENTITY UNIFIED COUNTRY TEAMS OFFERING The operational integration of ECS successfully completed in less than 12 months
Slide 9: New enterprises launched
3 NEW ENTERPRISES LAUNCHED 8 A comprehensive solution Secure business continuity Cloud-based secure for touch-screen tablets for data centres data backup for SMEs Authorised Authorised Reseller Systems integrator Tools to enable us to stand out from the competition and organic growth drivers
Slide 10: Return on investment illustrated by our success stories
RETURN ON INVESTMENT ILLUSTRATED BY OUR SUCCESS STORIES 9 SOUTHERN NORTHERN AND FRANCE BENELUX EUROPE EASTERN EUROPE Alcatel Lucent European Institutions De Agostini LOCOG – 2012 London Olympics Uni-HA Beenhakker Italcementi Endress+Hauser La Française des Jeux Loto (NL) Technogym The BBC Lefebvre S
Slide 11: Results
BOUNCE BACK Results econocom MOBILITY ON DEMAND WWW.ECONOCOM.COM
Slide 12: Financial overview of 2011
FINANCIAL OVERVIEW OF 2011 11 Lively sales Synergies Free activity with ECS Non-recurring cash flow exceeded progressed costs well + working guidance more rapidly under control capital than predicted reduction Recurring operating Net profit, Net financial Revenue profit(*) group share debt(**) €1.58
Slide 13: Consolidated revenue
CONSOLIDATED REVENUE IFRS Sales activity 12 in € million exceeded expectations: +1% on a proforma basis 1,584 Gradual relinquishment of 1,021 non-strategic activities 701 717 759 Solid sales performance on a like 2007 2008 2009 2010 2011 for like basis: +5% 2011 guidance €1,400 million
Slide 14: Breakdown of revenue by geographical area
BREAKDOWN OF REVENUE BY GEOGRAPHICAL AREA 13 9% 2% 6% 12% 16% 18% 49% 46% 2009 2010 54% 2011 40% 24% 24% France Benelux Southern Europe Northern & Eastern Europe A balanced pan-European presence
Slide 15: Breakdown of customer portfolio
BREAKDOWN OF CUSTOMER PORTFOLIO 14 Manufacturing, Transport, Logistics & Retail 15% Services 2% 30% Telecom, Media & 7% Technology Financial Services & 2011 Insurances 3.5% 9% Public sector & Education 2.1% Energy & Utilities 9% 17% 1.6% 1.5% 1.5% 11% Health Others Client 1 Client 2 Client 3 Client
Slide 16: Annual consolidated recurring operating profit
ANNUAL CONSOLIDATED RECURRING OPERATING PROFIT(*) IFRS 15 in € million Operational expenses well under control Positive effect of revenue ahead of guidance 66.6 Strong growth on a 47.5 proforma basis: 28.7 +35% 24.5 25.6 2007 2008 2009 2010 2011 2011 guidance €56 million (*) before amortisation of t
Slide 17: Consolidated income statement
CONSOLIDATED INCOME STATEMENT IFRS 16 in € million 2010 2011 2011 RESTATED(**) REVENUE 1,021.4 1,584.3 1,584.3 Net profit per share 2011 : RECURRING OPERATING PROFIT (*) 47.5 66.6 66.6 €0.86 (-30%) RECURRING OPERATING PROFIT 47.0 64.6 64.6 NON-RECURRING OPERATIONAL EXPENSES (6.7) (14.9) - LOSS OF VA
Slide 18: Consolidated balance sheet
CONSOLIDATED BALANCE SHEET AT 31 DECEMBER IFRS in € million 17 ASSETS 2010 2011 LIABILITIES 2010 2011 GOODWILL 138 134 SHAREHOLDERS’ EQUITY(*) 126 136 FINANCIAL DEBTS LT 124 88 NON-CURRENT ASSETS 128 123 NON-CURRENT LIABILITIES 34 24 CURRENT ASSETS 752 642 CURRENT LIABILITIES 825 729 INVENTORIES 16
Slide 19: Consolidated cash statement
CONSOLIDATED CASH STATEMENT IFRS 18 in € million 29 19 83 19 Income tax 16 59 Reduction paid Net 190 in working invest. Convertible capital Dividends Cash flow bonds + treasury shares 277 287 268 Net 253 253 218 218 repayment of loans 145 145 Gross cash position Gross cash position end 2010 end 2011
Slide 20: Net consolidated financial statement
NET CONSOLIDATED FINANCIAL STATEMENT(*) Convertible bonds IFRS €80 M 19 in € million + Contracts with recourse 30 (IFRS debt) -27 0 €34 M -112 + Short-term lines -240 €31 M - Gross cash position 12/2009 10/2010 12/2010 06/2011 12/2011 €145 M = Net debt reduced to zero Net financial debt in just 15 m
Slide 21: Strategy
FACE REALITY Strategy MOBILITY ON DEMAND WWW.ECONOCOM.COM
Slide 22: The digital revolution: at the heart of our strategy
THE DIGITAL REVOLUTION: AT THE HEART OF OUR STRATEGY 21 New skills developed internally… …strengthened by targeted external growth transactions… …to keep apace with major new trends on the ICT infrastructure market Develop a new strategic plan which will be presented end 2012
Slide 23: The new ICT challenges
THE NEW ICT CHALLENGES THE MARKET OUR SOLUTION 22 Regularly launching new VIRTUALISATION S solutions for enterprises: Everpad, myBaas, NeverStop, etc. C E L C U Adding new skills by acquiring a stake (40%) in O R Centix, Belgium’s leading specialist in desktop and U I server virtualisation solutions
Slide 24: A new market is emerging: smart objects
A NEW MARKET IS EMERGING: SMART OBJECTS THE MARKET OUR SOLUTION 23 Membership of IPSO Alliance (IP for Smart Objects) Opening a Digital Center to showcase the Group’s innovations (medical sector, multimedia, etc.) Already €88 M revenue from smart objects in 2011 20 billion connected objects by 2020(
Slide 25: Objectives
PROUD TO BE RESPONSIBLE Objectives MOBILITY ON DEMAND WWW.ECONOCOM.COM
Slide 26: Overview of the Horizon 2012 plan
OVERVIEW OF THE HORIZON 2012 PLAN A YEAR AHEAD OF SCHEDULE IFRS 25 in € million Revenue Recurring operating profit(*) TARGETS OF HORIZON 2012: revenue = €1 Bn, ROP = €60 M 1,584 1,021 66.6 701 717 759 47.5 590 24.5 25.6 28.7 16.5 2006 2007 2008 2009 2010 2011 2006 2007 2008 2009 2010 2011 Both finan
Slide 27: Financial guidance for 2012
FINANCIAL GUIDANCE FOR 2012 26 Slight growth Growth Double-digit growth in revenue in recurring operating in profit per share on a like-for-like basis profit(*) Revenue > €1.6 Bn ROP > €70 M Net Profit per Share ≈ €2 Another year of value generation while maintaining a sound financial position (*) b
Slide 28: Econocom and the stock market
27 Econocom and the stock market
Slide 29: Dividends and share purchasing
DIVIDENDS AND SHARE PURCHASING Dividend per share 28 In € Continuing with the share purchasing policy: 6% of capital held as treasury stock € 0.40 € 0.35 Increase of the € 0.30 dividend: € 0.24 € 0.24 +14% 2007 2008 2009 2010 2011(*) (*) Amount suggested during the Annual General meeting on 15 May,2
Slide 30: Creating value for shareholders
CREATING VALUE FOR SHAREHOLDERS Performance at 31 December 2011 of a virtual portfolio 29 invested entirely in Econocom shares DURATION AVERAGE ANNUAL VALUE OF €1,000 INVESTMENT DATE OVERALL RETURN OF INVESTMENT RETURN INVESTED 1 YEAR 12/31/2010 +59% +59%/YEAR €1,588 3 YEARS 12/31/2008 +164% +38%/YE
Slide 31: 5 reasons to be a shareholder
5 REASONS TO BE A SHAREHOLDER 30 Firmly established as the European leader in business-to-business ICT infrastructure management A growth model combining organic growth and a proven track record for integrating acquisitions Constant innovation in new growth markets Consistently increasing results an
Slide 32: Appendices
APPENDICES MOBILITY ON DEMAND WWwW.ECONOCOM.COM
Slide 33: Contribution by geographical area
CONTRIBUTION BY GEOGRAPHICAL AREA IFRS 32 in € million REVENUE RECURRING OPERATING PROFIT(*) FRANCE 731 30.8 BENELUX 373 15.7 SOUTHERN EUROPE 288 12.1 NORTHERN AND EASTERN EUROPE 192 8.0 TOTAL GROUP 1,584 66.6 (*) before amortisation of the ECS customer portfolio (€2 M/year)
Slide 34: Our portfolio of solutions for enterprises
OUR PORTFOLIO OF SOLUTIONS FOR ENTERPRISES 33
Slide 35: Stock market information
STOCK MARKET INFORMATION NYSE Euronext Jean-Louis Bouchard's Group 34 20.79% 6.04% Valgest et V. Wajs 12.45% Société Générale Bestinver Gestion 7.02% 4.60% 49.10% Public Own Shares CLOSING PRICE AS OF CONVERTIBLE BOND BE6220862583 € 16 ISIN BE0003563716 03/06/2012 AMOUNT ISSUED € 84 M NUMBER OF SHAR
Slide 36: Financial communication contacts
FINANCIAL COMMUNICATION CONTACTS 35 ECONOCOM GROUP ACTUS FINANCE INVESTOR GALLIANE TOUZE CLÉMENCE FUGAIN / JÉRÔME FABREGUETTES-LEIB RELATIONS GALLIANE.TOUZE@ECONOCOM.COM ECONOCOM@ACTUS.FR FLORENCE LIÈVRE NICOLAS BOUCHEZ PR CONTACTS FLORENCE.LIEVRE@ECONOCOM.COM NBOUCHEZ@ACTUS.FR