Any question or comment? Please contact us .
+44 (0) 1455 817455

Consolidated Accounts for the first half of 2010/2011 (in IFRS norms). Period from 1st August 2010 to 31st January 2011

Home News › Consolidated Accounts for the first half of 2010/2011 (in IFRS norms). Period from 1st August 2010 to 31st January 2011

Toulouse, 31st March 2011, The IGE+XAO Group announces:

Strong growth for the first half 2010/2011
Turnover: +4,7%
Operational result: +27,9%
Net result: +33,2%

For the first half 2010/2011, IGE+XAO posts a 4,7% increase in turnover, which amounts to €10,853,145 versus €10,369,899 a year earlier. This rise was particularly significant in the second quarter (+5,7%), thus confirming the good business trend observed in the first three months of the fiscal year (+3,4%).

The rise in turnover was accompanied by a strong focus on the Group’s spearhead products, which will be further boosted by the launch of two major new versions of the SEE Electrical Expert and SEE Electrical software in the second half of the year. In addition to new functions aimed at increasing productivity, SEE Electrical Expert V4 will include a complete environment dedicated to “collaborative engineering” while SEE Electrical V6 will offer a powerful, user-friendly interface.

In terms of profitability, the Group posts operating income of €2,551,693, up 27.9% over the first half 2009/2010, for an operating margin* of 23.5%. This growth is attributable to the upswing in activities as well as the quality of the business model, which IGE+XAO is improving year-on-year. Net income stands at €1,923,887 (up 33.2%), for a net margin** of 17.7%.

IGE+XAO also boasts a solid financial structure. At 31 January 2011, its shareholders’ equity amounted to €20.9 million, with an insignificant bank debt and a cash position of €18.8 million.

Ahead of schedule, on the strength of its good results and solid fundamentals, the IGE+XAO Group will start to deploy its 2011/2012 action plan aimed at setting up three new sites abroad – in Russia, Turkey and South America – as well as boosting the development of its Electrical PLM (Product Lifecycle Management) offers. In line with the Group’s business plan, those operations will be accompanied by a high profitability level.

* operating income in relation to turnover.

** net income in relation to turnover.

NB : A limited review of the half-year financial statements to 31 January 2011 was carried out by the auditors of IGE+XAO. The half-year financial statements were approved by the Board of Directors on 25 March 2011.