IGE+XAO has recorded a net profit of 3,298,018 euros compared to 2,415,019 euros during the previous year (+36.6%) and a net margin of 15.3%*. The current operating income has reached 3,398,428 euros, compared to 3,237,271 euros in 2006/2007 (+5%). The consolidated income before tax has reached 4,161,183 euros (17.8%), after taking into account exceptional and non recurrent elements for a net amount of 500,908 euros, which includes, in particular, the impact of the positive value gained from the transfer of Anyware Technologies shares.
The Group has strengthened its financial position thanks to 16.6 million euros of equity, almost no bank debt and available cash of more than 13 million euros. These financial performances are all the more impressive, given that they come within the context of sustained investments. Thus, over the period, IGE+XAO has expanded its presence on the international stage with the launch of operations at its Chinese subsidiary, the extension of its foreign distribution network to India, Vietnam and Australia, as well as the creation of a new subsidiary in Tunisia.
At the same time, over the year, the Group has continued its efforts in research and development and particularly with relation of the life cycle of electrical facilities (PLM). These developments have been accompanied by the creation of additional recruitments, both in France and abroad, and led to the signature of a major contract with the Airbus on the fourth quarter. This contract, which amounts to 5 million euros over two years, had no impact on the accounts closed as of July 31st 2008.
Finally, and in accordance with the policy put in place by IGE+XAO, the Board of Directors will propose to the Annual General Meeting the payment of a dividend of €0.26 euro per share compared to €0.22 in 2006/2007.
* Group net result based on turnover