AEDIAN 
By PR Newswire/Les Echos/
Press Release, 13 February 2008
Page 1/4
First-half 2007-08 results
(Euro millions) H1 2007/08 H1 2006/07
Revenues 19.7 19.5
Operating income (1) 0.79 0.84
Operating income before
exceptional items 0.55 0.54
as a % of revenues 2.8% 2.8%
Operating income 0.33 0.54
Attributable net income 0.15 0.28
(1) before charges related to stock-options, bonus shares and income sharing
Aedian is an IT consultancy In the first half of fiscal 2007-08, ending on 31 December 2007, Aedian's
and services company revenues rose slightly. After an adverse first quarter, business picked
focused on the financial up in the second, with revenues growing by 3.3%. Operating income
industry and the public before exceptional items increased during the period, to € 0.55 m.
sector Operating income includes a € 0.2 m provision.
400 employees NB: operating income before charges related to stock-options, bonus shares and
income sharing came to € 0.79 m, versus € 0.84 m in the previous year, because of
the slightly smaller impact of IFRS adjustments compared with the previous year.
Eurolist C Continuing recovery in Consulting (Aedian Consulting, 31% of
IT services group revenues)
Bloomberg SYS Key management indicators improved further, with in particular a drop in the
Reuter SYS.PA inter-contract downtime in the second quarter.
ISIN FR0004005924 In the first half of 2007-08, Aedian's Consulting division reported revenues of
€ 6.2 m, versus € 6.5 m the previous year. The subsidiary's operating margin
increased by 1.3 ppt to 2%, compared with 0.7% in the year earlier period.
The levers for widening the margin that were in place in the second quarter
Aedian (in particular the decline in inter-contract downtime) are expected to continue
Jean-François Gautier producing results in the coming months.
Chairman
jfgautier@aedian.com
Stable positions in IT services (Aedian SI, 69% of group revenues)
Frédéric Bourdon Revenues grew by 2% compared to the first half of the previous year. The
Secretary-General growth reflects the impact of an increase in prices and in-house headcount.
fbourdon@aedian.com The subsidiary has further strengthened its sales organisation.
(+33) 1 56 35 30 00 The operating margin came to 4.4%, down 2.7 ppt due to the smaller
CM-CIC Securities number of projects during the half-year compared to an exceptionally
Financial communication buoyant previous year (projects with a performance guarantee accounted
Bruno Gaheri for 38% of total revenues, versus 54% in the first half of 2006/07). The trend
(+33) 1 45 96 79 22 had a direct impact on the margin due to the payment of the resulting
gaheribr@cmcics.com project "bonuses". On the upside, the subsidiary benefited from a significant
MP Conseil improvement in the inter-contract downtime during the half-year (down 1.2
Michelle Pilczer point) and a 1% increase in rates charged.
(+33) 1 47 10 94 94
mpconseil@mpconseil.com
Strengthened balance sheet
Net cash flow from operations came to € 2.1 m, or more than 10% of total
AGENDA revenues. This resulted from free cash flow of € 0.7 m and a € 1.4 m positive
Third-quarter 2007-08 change in WCR.
revenues On 31 December 2007, the company therefore had net cash of more than
23 April 2008 € 2.6 m, shareholders' equity of € 9.3 m and a negative WCR of € 3.5 m.
Press Release, 13 February 2008
page 2/4
Outlook
The turmoil in the banking sector has not affected the level of demand from customers. In January 2008, the company's business indicators, in particular the inter-contract downtime and the rates charged had therefore improved compared to the previous year
- The sales organisation, by ramping up the overall framework;
- The range of services offered, by revamping the marketing tools and resources and targeting selected sector themes, such as the "Capital Adequacy II" project in the insurance industry;
- Expanding the range of services offered by the Tunisian joint-venture (Aexia), to support the drive to win a greater number of large projects;
- Strengthening the human resources policy, which has already produced notable results in terms of staff recruitment and loyalty.
Attached: IFRS Consolidated Balance Sheets and Income Statements
. In the second half, the company will continue implementing the 2010 strategy articulated around the 4 top priorities announced previously:
Attached: IFRS Consolidated Balance Sheets and Income Statements
Press Release, 13 February 2008
Page 3/4
IFRS CONSOLIDATED INCOME STATEMENTS 31 Dec. 2007 31 Dec. 2006
(In thousands of euros)
Revenues 19,704.36 19,540.24
Purchases (2,317.77) (2,299.55)
Personnel (14,584.55) (14,274.26)
External charges (1,606.91) (1,820.89)
Taxes other than corporate tax (496.98) (529.96)
Depreciation / amortisation expense (122.67) (163.00)
Net provisions (18.92) (54.15)
Other operating income and expenses (2.26) 139.92
Operating income before exceptional items 554.29 538.39
Other operating costs (222.97) 0.00
Operating income 331.32 538.39
Income from cash and equivalents 39.99 13.90
Gross interest expense (77.92) (50.71)
Net interest expense (37.93) (36.81)
Other financial items (23.91) (22.49)
Share of affiliates' net income (loss) (0.12) (0.00)
Corporate income tax (122.19) (200.17)
Net income 147.18 278.93
Group share 147.18 278.93
Minorities 0.00 0.00
Press Release, 13 February 2008
Page 4/4
ASSETS 31 Dec. 2007 30 June 2007
Goodwill 9,223,372 9,223,372
Net fixed intangible assets 32,662 36,529
Net fixed tangible assets 302,873 393,514
Shareholdings in affiliates 10,97 0,000
Other net financial investments 1,108,570 1,018,402
Deferred taxes 0,000 0,000
Other non-current assets 0,000 0,000
NON-CURRENT ASSETS 10,678,447 10,671,817
Inventory & work in progress 0,000 0,000
Net trade receivables and related items 7,338,589 9,827,114
Other current assets 1,693,354 1,669,132
Current taxes 67,638 127,382
Marketable securities 0,000 0,000
Cash 4,076,105 4,100,085
CURRENT ASSETS 13,175,687 15,723,713
TOTAL ASSETS 23,854,134 26,395,530
SHAREHOLDERS' EQUITY AND LIABILITIES 31 Dec. 07 30-juin-07
Share capital 1,183,489 1,183,489
Additional paid-in capital 5,798,461 5,649,130
Reserves 2,167,350 2,021,380
Translation gains (losses) 0,000 0,000
Attributable net income 147,179 458,423
Minorities 0,327 0,327
SHAREHOLDERS' EQUITY 9,296,806 9,312,748
Pensions and retirement compensation 0,000 0,000
Long-term portion of debt 538,741 982,044
Deferred taxes 119,87 39,526
Other non-current liabilities 0,000 0,000
NON-CURRENT LIABILITIES 658,611 1,021,570
Reserves for contingencies and charges 499,34 258,194
Short-term share of debt (1) 888,068 2,420,963
Trade notes and accounts payable 3,494,236 3,608,908
Current short-term taxes 0,000 74,816
Other current liabilities 9,017,072 9,698,331
CURRENT LIABILITIES 13,898,716 16,061,212
TOTAL SHAREHOLDERS' EQUITY & LIABILITIES 23,854,134 26,395,530
The content and accuracy of news releases published on this site and/or
distributed by PR Newswire or its partners are the sole responsibility of the
originating company or organisation. Whilst every effort is made to ensure the
accuracy of our services, such releases are not actively monitored or reviewed
by PR Newswire or its partners and under no circumstances shall PR Newswire or
its partners be liable for any loss or damage resulting from the use of such
information. All information should be checked prior to publication.Aedian : First Half 2007-08 results
Share
© PRNewswire - 2008
