2005/2006 Consolidated financial statements

Toulouse, 31st. October 2006 – IGE+XAO Group announces :

During 2005/2006, IGE+XAO entrenched its development with a turnover of € 19,698,405 an increase of 7.2% on the previous fiscal.

On its plans for profitability, the Company's performance is significant with an operating profit rising to € 3,107,699 up 20.5% and with the net income reaching € 2,052,946 an increase of 17.3%. The net margin of 10.4% of turnover thus achieved, underwrites the objective between 8% and 10% announced by the Group Board of Directors.

At the same time, IGE+XAO strengthened its financial position with the absence of long-term financial debt, cash-at-bank of € 10,193,927 (€ 8,970,715 in 2004/2005), and a total shareholder's equities of € 11,649,114 (€ 10,348,618 in 2004/2005).

This very healthy financial position gives the Group the ability to achieve its commercial and technical development objectives. In 2005/2006, the Group thereby increased its international presence with the acquisition of its Swiss distributor Hibatec GmbH, the creation of a marketing subsidiary in the United States and the opening of a representative office in China. Significant commercial agreements have been signed notably with Schneider Electric in June 2006 and Embraer very recently in October 2006. On the technical plan, IGE+XAO has persuaded a large research and development effort in order to market in particular an integrated program to manage the life cycle of an electrical installation (PLM).

Finally, and in accordance with IGE+XAO policy, the Board of Directors will propose at the Annual General Meeting, a dividend distribution amounting to € 350,800 compared to € 315,720 in 2004/2005.

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