Toulouse, IGE+XAO Group announces:
Consolidated accounts for the first half 2017/2018 (in IFRS norms).
(Period from 1st August 2017 to 31st January 2018).
A favourable first half year
Over the first half of the 2017/2018 financial period, consolidated turnover for the IGE+XAO Group is up 9.2%, amounting to 15.1 million euros compared to 13.8 million euros one year earlier. This performance, which benefits from the strong growth observed in the first quarter of the financial period, is primarily the result of an exceptional increase in the activity linked to Major Account customers.
The growth in the activity is accompanied by a controlled change in the charges, which results in an increase in operating income of 16.7%, at 4.3 million euros compared to 3.7 million euros over the previous period. The operating profitability** of IGE+XAO gained nearly two points and reached 28.4%.
Consolidated net income for the Group stands at 3.1 million euros, up 11.4% and net profitability*** stands at 20.5%.
From a financial standpoint, the Group has a healthy structure with, at 31 January 2018, almost no bank debt and a cash flow of 30.6 million euros.
Backed with these results and solid fundamentals, IGE+XAO, now a subsidiary of Schneider Electric, intends to pursue its action plan, having as objectives to accelerate international development, strong investment in R&D and a high level of profitability.
* Application of IFRS 15 does not significantly affect the Group's consolidated financial statements as at 31 January 2018
** Operating income in terms of turnover
*** Net income in terms of turnover
Note: The half-year financial statements closed out at 31 January 2018 underwent a limited review by the auditors of IGE+XAO and were approved by the Board of Directors on 28 March 2018.