Over the first half of the 2013/2014 financial period, consolidated turnover for the IGE+XAO Group is up 6.4%, amounting to 12,570,465 euros compared to 11,812,132 euros one year earlier. Commercial activity benefited from good momentum in the Major Accounts activity, in France as well as abroad. From a technical standpoint, the period was dense with the release of the new version V7R2 of SEE Electrical (electrical Computer Aided Design software for the SME-SMI market) and the launching of SEE Web Catalogue, a new service that allows electrical equipment catalogues to be downloaded and used directly in IGE+XAO software.
The favourable change in turnover was accompanied by good control of operating expenses (+2.6%), resulting in a sharp progression in the Group's profitability. As such, operating income reached 3,473,485 euros, up sharply (+16.5%) compared to the first half of 2012/2013, while net income amounted to 2,568,713 euros, which is growth of 13.5%. Finally, the company's profitability ratios are increasing substantially with an operating margin* that has gained 2.4 points, reaching 27.6% and a net margin** that has crossed the 20% line, now at 20.4%.
From a financial standpoint, IGE+XAO has improved its structure with, at 31 January 2014, equity of 26 million euros, almost no bank debt and a cash flow of nearly 26 million euros.
Backed with its results and its solid fundamentals, the Group, while still preserving its high level of profitability, intends to pursue its development by combining sustainable organic growth with opportunities for external growth.
* operating income in terms of turnover
* net income in terms of turnover
Note: The half-year financial statements closed out at 31 January 2014 underwent a limited review by the auditors of IGE+XAO and were approved by the Board of Directors on 24 March 2014.