Financial news about Steria

2008 revenue: EUR 1,765.7m, overall growth +24.7%, organic growth +0.9%

• Consolidated revenue in 2008 were EUR 1,765.7m, an increase of 24.7% compared to FY 2007. The negative impact from exchange rate fluctuations in 2008 was EUR 124.8m [1]. Revenue grew by 0.9% on a like for like basis.
• The fourth quarter 2008 activity was in line with expectations: revenue saw organic growth of 1.0% compared to Q4 2007 and order intake was significantly higher. The order intake to sales ratio was 1.31 in the fourth quarter 2008. As of 31st December 2008 this ratio was 1.07.
• The operating margin [2;3] rate for FY 2008, which was higher than in FY 2007 (7.3%), should be in excess of our previous guidance of 7.5%.
• Thanks to good operating cash flow generation, net financial debt as of 31/12/08 should be below EUR 250m [3] (compared to an initial guidance of EUR 300m). In addition, the book value [3] of the pension fund deficits should be lower than at 30/06/08. Moreover, the banking covenants will be largely respected.

Interim Results 2008: Operating margin +52.6% to EUR 62.2m. Operating margin ratio sharply higher at 7.1%

• H1 2008 Revenue: EUR 878.7m, a growth of 35.6%H1 2008 Operating Margin [2]: EUR 62.2m +52.6% compared to H1 2007.
• Operating margin ratio [2] up by 0.8 points to 7.1% (vs. 6.3% in H1 2007).
• Good management of operating cash flow with an improvement in the operating cash flow by EUR 14m compared to H1 2007.
• Net financial debt at end June 2008 was EUR 339.9m which easily allowed the group to respect its banking covenants.
• A successful integration of Xansa with first half 2008 synergies in excess of the initial business plan and a promising deployment of offshore and nearshore activities in continental Europe with more than 115,000 man/days production signed.