Aubay Société Anonyme Announces Consolidated Earnings Results for the Year Ended December 31, 2017; Revised Earnings Guidance for the Fiscal 2018; Proposes Dividend for the Year 2017
March 13, 2018
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Aubay Société Anonyme announced consolidated earnings results for the year ended December 31, 2017. For the period, the company reported Revenue was 353,568,000 against 326,400,000 a year ago. Recurring operating income was 33,918,000 against 31,500,000 a year ago. Operating income was 33,676,000 against 30,028,000 a year ago. Net income from consolidated companies was 23,937,000 against 21,274,000 a year ago. Net income group share was 23,937,000 against 21,274,000 a year ago. Earnings per share were 1.83 against 1.63 a year ago. Operating income, up 12.1% due to a significant reduction in "Non-recurring operating income and expenses" compared to 2016. Net debt of 5.5 million compared with net cash of 4.4 million at 31 December 2016. Net cash flow from operations fell from 16.4 million to 13.3 million as a result of the aforementioned change in working capital.
The 2018 revenue target after application of IFRS 15 has been set at 395 million, including additional revenues of 23 million resulting from the first full-year consolidation of the business assets acquired in Italy. In view of positive price trends against a backdrop of growth and gradually improving visibility, the 2018 and medium-term recurring operating margin target has been revised upwards to between 9.5% and 10.5% compared to 9% and 10% to date.
The Board of Directors will ask the General Meeting to vote on a 2017 dividend of 0.47, compared to the 0.41 dividend paid out in 2016. As a reminder, an interim dividend of 0.23 was paid in November 2017. The Annual General Meeting will take place at the registered office at 9.00 am on 15 May 2018.
Aubay is a computer services company. The group's activity is organized into four sectors:
- technological advice: advice given on choice of technologies to use when designing the technical architecture of information systems, setting up technology networks, security and application solutions (CRM, human resources, etc.), etc.;
- engineering services: integration of solutions and systems, project management and applications development, etc.;
- maintenance services;
- outsourcing services.
Net sales are distributed by market as follows: banking (38.5%), insurance (20.1%), telecommunication and media (14.5%), services and health (13.1%), administration (5.9%), industry and transport (5.6%), trade and distribution (2.3%).
Net sales are distributed geographically as follows: France and the United Kingdom (52.5%), Spain and Portugal (22.6%), Italy (20.4%), and Benelux (4.5%).
Aubay Société Anonyme Announces Consolidated Earnings Results for the Year Ended December 31, 2017; Revised Earnings Guidance for the Fiscal 2018; Proposes Dividend for the Year 2017