GENERIX : Results 2011/2012: sharp improvement in profitability and zero net debt (195KB)
06/04/2012| 01:31pm US/Eastern
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Paris, June 4, 2012 - Generix Group, collaborative
software vendor for Retail ecosystem, today issued the
results for its fiscal year 2011/2012 ended March 31,
2012.
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Return to positive current operating income of
€0.9 M, an improvement of €6.1 M
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Generix Group reported a current operating income of
€+0.9 M for financial year 2011/2012, an improvement of €6.1
M compared to the previous year. This return to an
operational surplus for the first time since financial year
2007/2008 represents, despite a small decline in overall
revenue (-3%), an important increase in profitability, which
followed the actions focusing on the Group's
profitability and the development of its business
model.
The sales mix is shifting towards:
- more profitable activities with a 6% growth in
Publishing activities, driven in particular by a recovery in
sales growth over the second half;
- the recurring activities On Demand and Maintenance
represented 52% of revenue in 2011/2012 compared to 34% four
years ago.
The €6.1 M increase in current operating income is due
to a significant reduction in operating expenses:
- a €2.2 M decrease in personnel costs following the
reorganization plan implemented during the financial
year;
- a €2.4 M decrease in other purchases and external
expenses thanks to the decrease in subcontracting and fixed
costs;
- a €2.9 M gain in net depreciation expense and
provisions compared to the previous year, including a
reversal net of provisions for contingencies and loses, in
strong improvement compared to 2010/2011, marked by a €1 M
charge for loses on completion for fixed-price
projects.
The other operating expenses and income (€1.8 M)
correspond to the costs incurred under the reorganization
plan announced on September 14, 2011, and implemented during
the second half of the year. It is important to note that in
2011/2012, the Group only enjoyed a small part of the savings
related to this plan, which will represent €3.2 M over a full
year.
The operating income amounted to €-0.9 M, an
improvement of €4.3 M.
After taking into account the financial income and
income taxes, the net income amounted to €-2.1 M, an
improvement of €3.6 M.
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