Toulouse, 2 April 2013, the IGE+XAO Group announces:
Consolidated Accounts for the first half of 2012/2013 (in IFRS norms).
Period from 1 August 2012 to 31 January 2013 - A successful first half
- Operating margin: 25,2%
- Turnover: +4,9%
- Operating income: +6,2%
Over the first half of the 2012/2013 financial period, consolidated turnover for the IGE+XAO Group is up 4,9%, amounting to 11,812,132 euros compared to 11,264,268 euros one year earlier.
The Group benefitted from strong momentum in its Major Accounts activity combined with the good resistance of its activity internationally, especially in Northern Europe. In terms of operating expenses and in accordance with its business plan, IGE+XAO increased its workforce in software production and marketing, changing the number of its employees worldwide from 354 full-time equivalents at 31 January 2012 to 378 at 31 January 2013. This controlled change was accompanied by an improvement in the operating margin which crossed the 25% threshold (25.2% compared to 24.9% one year earlier). Operating income as such reached 2,982,039 euros, up 6.2% compared to the first half of 2011/2012. Finally, net income, which amounted to 2,262,372 euros (net margin** of 19.2%), is comparable to that of the first half of 2011/2012, due to tax credit on a foreign subsidiary in 2011/2012. From a financial standpoint, IGE+XAO is solidly structured with, at 31 January 2013, equity of 22 million euros, almost no bank debt and a cash flow of nearly 22 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 internationally with the opening of a subsidiary in Mexico scheduled before the end of the financial period.
* operating income in terms of turnover.
** net income in terms of turnover.
Note: The half-year financial statements closed out at 31 January 2013 underwent a limited review by the auditors of IGE+XAO and were approved by the Board of Directors on 25 March 2013.