Third quarter 2012 revenue

 
è www.steria.com


Press Release
 


 
 
 

Paris, France, October 30, 2012

Over the first nine months of 2012, consolidated revenue increased by 7.6% (+3% on a like-for-like basis)
During the third quarter, revenue growth was 8.7% (+2.5% on a like-for-like basis)
At September 30, 2012, the book to bill ratio stood at 0.98 (1.0 at September 30, 2011)

 First nine months 2012 consolidated revenue

In € million
9 months

2011
9 months

2012
reported growth
Organic growth


Revenue
1277.3
1374.5
7.6%
 


Change in consolidation scope
17.8
 
 
 


Currency variation
38.9
 
 
 


Pro-forma revenue
1334.0
1374.5
 
3.0%

 First nine months 2012 revenue by geographical region

In € million
9 months

2011*
9 months

2012
Organic growth


United Kingdom
539.1
550.1
2.0%


France
401.0
434.1
8.3%


Germany
178.5
175.5
-1.7%


Other Europe
215.4
214.8
-0.3%


Total
1334.0
1374.5
3.0%

 First nine months 2012 revenue by business

In € million
9 months 2011*
9 months 2012
Organic growth


Infrastructure Management and Business Process Outsourcing
524.2
573.4
9.4%


Consulting and Systems Integration
809.8
801.0
-1.1%

 * Like-for-like revenue (base 2012)

Activity for the third quarter 2012

 Third quarter revenue 2012 by geographical region

In € million
Q3 2011*
Q3 2012
Organic growth


United Kingdom
182.8
180.9
-1.0%


France
130.8
138.8
6.1%


Germany
58.7
60.6
3.3%


Other Europe
65.0
67.6
4.1%


Total
437.1
447.9
2.5%

*Like-for-like revenue (base 2012)

Over the third quarter 2012, organic revenue growth was 2.5%. In a difficult environment overall, the trend was positive in the Public (+2%), Insurance (+6%) and Utilities/Transport/Telecommunications (+10%) sectors. For its part, the Banking sector posted negative growth of 2%.

At September 30 2012, the book to bill ratio stood at 0.98 (1.0 at September 30, 2011) and the pipeline amounted to 2.1 times projected revenue, a level similar to that of September 30, 2011.

In the United Kingdom, third quarter revenue which was relative to a high base (+6.4% in the third quarter 2011) contracted by 1.0% on a like-for-like basis. The Public sector continued to be positively oriented (+2%) as was the Utilities/Transport/Telecommunications sector (+1%) while the Banking sector remained in decline. At September 30, 2012, the book to bill ratio amounted to 0.9, identical to its level on the same date of the previous year.

In France, the organic revenue growth for the quarter remained, at +6.1%, well above average for the market, underpinned by the Banking sector, despite a slowdown, and by the Utilities/Transport/Telecommunications sector which benefitted from a positive dynamic in Energy and the development phase of the EcoTaxe project. Over the first nine months of the year, order intake was up by 20% leading, at September 30, 2012, to a book to bill ratio of 1.2 (1.1 at September 30, 2011).

In Germany, the third quarter (+3.3%) was characterised by an improvement in the Banking sector and in Utilities/Transport/Telecommunications whose growth returned to positive territory. The Public sector, which also saw an improvement, remained however negatively oriented. At September 30, 2012, the book to bill ratio stood at 1.01 (1.24 at September 30, 2011).

In the Other Europe region, organic growth of 4.1% benefited from an improvement in the commercial dynamic in Scandinavia and a favourable base effect in Belgium, Spain having posted a 10.6% decline over the quarter.

Outlook

Within the framework of the ongoing review of the activity portfolio, on October 23 Steria announced the forthcoming sale of Steria Iberica, a transaction which should be accretive by around 30 basis points for the operating margin rate on an annual basis.

The Group also confirmed the implementation of a plan launched in the third quarter of this year, aimed at operating cost savings of €15 million to €18 million in 2013 thanks to the optimisation of the portfolio of activities, internal efficiencies and industrial productivity.

-ENDS-

Steria is listed for trading on NYSE Euronext Paris, Eurolist (Section B)

ISIN Code: FR0000072910, Bloomberg Code: RIA FP, Reuters Code: TERI.PA

General Indices SBF 120, NEXT 150

CAC MID&SMALL, CAC MID 60, CAC Soft&CS, CAC Technology, Euronext FAS IAS

For further information, see the website: http://www.steria.com