BULL Progress of the One Bull strategic plan
Details of costs recorded
in financial statements to 30 June 2014
Paris, 11 July 2014The Board of Directors of Bull (Euronext Paris: FR0010266601 -‐ BULL), met today and approved the total costs relating to the implementation of the "One Bull" 2014-‐2017 strategic plan, to be recorded in consolidated financial statements for the Group to 30 June 2014.In accordance with the announcement of 26 May 2014, the Audit Committee and the Board of Directors have examined progress on the "One Bull" plan that was announced in January 2014 and aims to double the EBIT margin to 7% by 2017. The Board noted with satisfaction that significant planning and implementation has been achieved. As a result, the Board of Directors determined in strict compliance with the IFRS that €57 million in implementation costs associated with the plan should be recognised in the Group's consolidated financial statements to 30 June 2014. This amount consists of €8 million of costs relating to the "One Bull" plan incurred in the first half of 2014 and €49 million in provisions against the costs of other initiatives that have already been launched. This amount is in line with the initial estimate of €50 million to €60 million indicated at the time of the announcement of the "One Bull" plan.
OutlookIn January 2014, the Bull Group presented and launched the One Bull plan, which aims to position Bull as the trusted operator for enterprise data and to double EBIT margin to 7% by 2017.
Next event29 july 2014
(before market)Second-‐quarter 2014 revenues and half-‐year 2014 results
Public offer in process
Atos, an international information technology services company, and Bull, the trusted partner for enterprise data, have presented the friendly tie-‐up project which aims at creating the #1 european player in Cloud and a leader in Big Data and Cybersecurity. As such, Atos filed a public offer on all issued and outstanding shares and OCEANEs in the capital of Bull. This offer was cleared by the French Autorité des Marchés Financiers (AMF) on 24 June 2014.
This offer is made only in France and participation in the offer may be subject to legal restrictions
outside France. The offer is open since 27 june 2014 and will close on 31 july 2014.
More information is available on http://www.bull.com/investors.
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Disclaimer
This press release includes and is based, inter alia, on forward-‐looking information and statements that are subject to risks and uncertainties that could cause actual performance to differ from expected results.
Although Bull believes that its expectations and the information in this press release were based upon reasonable assumptions at the time when they were made, it can give no assurance that those expectations will be achieved nor that the expected results will be as set out in this press release. Neither Bull nor any other company within the Bull Group is making any representation or warranty, expressed or implied, as to the accuracy, reliability or completeness of the information in the press release, and neither Bull, any other company within the Bull Group nor any of their directors, officers or employees will have any liability to you or any other persons resulting from your use of the information in the press release.
Bull is the trusted operator for enterprise data. It provides cloud and big data services, as well as integrating and managing high-‐performance systems and end-‐to-‐end security solutions. Bull helps its clients to process all information at their disposal and use it in new ways. Bull transforms organisations' data into value, in a fully secure manner.
Bull currently employs around 9,200 people across more than 50 countries, with over 700 staff totally focused on R&D. In 2013, Bull recorded revenues of €1.3 billion.
For more information, visit: www.bull.fr www.facebook.com/Bull www.twitter.com/bullfr
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