* Including €11,7 million invoiced from France (€11,2 million in 2009/2010) with the understanding that this amount also includes billing abroad issued from France within the framework of the activities tied to the distribution networks and to the major international key accounts.
Toulouse, 15th June 2011 – The IGE+XAO Group announces:
Over the first nine months of the period, IGE+XAO had accumulated revenue of 16,601,539 euros, which is a 4,4% increase compared to the previous year. The 3rd quarter had growth of 4% at €5,748,394; this change can be appreciated even more since the revenue over the same period one year earlier was already up, stimulated by the preliminary signs of a recovery.
In parallel, IGE+XAO is taking advantage of this good resistance of the business and of the profitability that is up sharply to accelerate its operating plan in France as well as abroad. From a product standpoint, special attention has been devoted to the commercial launching of the new versions of SEE Electrical V6 and SEE Electrical Expert V4 products. Internationally, IGE+XAO is anticipating its action plan for 2011/2012, aiming to create three new sites abroad. Thus the Group will create a new subsidiary in Turkey this summer and subsidiaries in Russia and South America in 2012.
Finally, from a financial standpoint, IGE+XAO has solid fundamentals with an operational profitability of more than 20% and available cash of €18.8 million at 31st January 2011. This will enable the Group to achieve its objectives to open up new markets while still retaining good profitability.