GROUPE OPEN 2021 first half-year results
Turnover: €166.7m | +12.7% 7.3% organic growth
Ordinary Operating Profit: €12.7m | +45%
Paris, 22 September 2021 - Open Group (ISIN: FR 0004050300; NextEconomy segment - 972, computer services), the Digital Services Company, has published its results for the first half of 2021.
2021 half-year results
In millions of € | June | June | |||
2021 | 2020 | ||||
Turnover | 166.7 | 147.9 | +12.7% | ||
Ordinary operating profit | 7.7 | 5.3 | +45.3% | ||
% op. profit | 4.6% | 3.6% | |||
Other operating income and expenditure | -0.6 | -0.7 | |||
Operating profit | 7.0 | 4.6 | |||
Net cost of financial debt | -0.3 | -0.4 | |||
Tax burden | -2.7 | -2.7 | |||
Net profit/loss from business operations | 3.9 | 1.4 | |||
Net profit from operations discontinued, sold or in | - | -1.3 | |||
process of sale | |||||
Net profit | 3.9 | 0.2 | |||
In this first half-year, the Open Group posted an upturn of its business indicators:
- a turnover of €166.7m, i.e. an increase of 12.7%, including 7.3% in terms of organic growth,
- an ordinary operating profit of €7.7m, i.e. an increase of 45%.
Workforce and occupancy rate
This performance can be accounted for, in particular, by a favourable combination of increase in the productive workforce, including that of Neos-SDI (3 500 as of 30th June 2021 vs 3 410 as of 30th June 2020), a better occupancy rate and a favourable day's effect.
Open Group - 2021 first half-year results
The turnover is carried by the three Open Group operational activities described below, and is evenly distributed between sectors, with a particularly dynamic growth in the public sector.
The latter is the result of projects acquired over the last few months, favoured notably by the three UGAP contracts in which the Open Group is co-holder(Project Management Assistance and Third-partyApplication Maintenance, Facility Management for IT Operations, Providing Services associated with Microsoft technologies).
Revenue (in €m) | Q1 2021 | Q1 2020 |
Digital Consulting | 6.4 | 6.5 |
Digital Transformation and Communication | ||
Digital & IT Services (inc Neos-SDI) | 151.9 | 133.4 |
Expertise and Industrialisation of applications | ||
and infrastructures | ||
Digital Solutions | 8.3 | 7.9 |
SaaS platforms |
2021 first-half financial situation
BALANCE SHEET AND CASH FLOW
In millions of € | June | Dec | In millions of € | June | Dec | |||||
2021 | 2020 | 2021 | 2020 | |||||||
Goodwill | 115.3 | 115.3 | Equity capital | 120.1 | 116.4 | |||||
IFRS16 usage rights | 15.9 | 18.3 | Financial debt | 6.8 | 6.8 | |||||
Debts linked to lease | 16.8 | 19.4 | ||||||||
obligations | ||||||||||
Cash | 27.3 | 34.4 | Other financial liabilities | 4.3 | 6.7 | |||||
Current assets | 106.2 | 103.3 | Current liabilities | 111.2 | 112.2 | |||||
Total ASSETS | 257.5 | 255.8 | Total LIABILITIES | 257.5 | 255.8 | |||||
June | June | |||||||||
In millions of € | 2021 | 2020 | ||||||||
Net cash flow generated by business operations | 1.7 | 13.2 | ||||||||
Net cash flow generated by investment transactions | -2.9 | -3.6 | ||||||||
Net cash flow generated by financing transactions | -5.8 | -5.8 | ||||||||
Variation in net cash flow | -7.0 | 3.8 | ||||||||
Cash and cash equivalent on opening | 34.4 | 28.0 | ||||||||
Cash and cash equivalent on closure | 27.3 | 31.7 | ||||||||
The stable financial structure and the cash flow are due to the control of settlement deadlines and customers' outstanding amounts.
Open Group - 2021 first half-year results
#Impact24 strategic plan
In order to start on the cycle by 2024, the Open Group stated its fundamental strategic principles, based on a conviction that identifies digital technology as an essential vector and a booster of the cultural, organisational and technological transformation of the company.
"To turn digital technology into a vector of transformation for a human and environmental value-friendly world", That is its whole purpose, to serve a world where performance and ethics, freedom and protection in the digital space, creation of economic value and corporate values [Agility, Responsibility, Commitment] go hand in hand.
In this context, its mission is to advise its customers along their digital transformation path, to design, produce and operate agile, resilient and secure information systems, and to provide innovative software solutions in Saas mode. As a result, they will have IT and digital assets essential to their performance.
To this end, its ambition is to be a trustworthy partner of the first one thousand public and private French companies, backed by two major characteristics, Customer awareness and Excellence.
Summary and Prospects
In a more favourable (Software & Services) market context (+4,8% _ Numeum), the Open Group has had a satisfactory first half-year, sustained by the upturn of its business indicators.
For 2021, the Open Group expects a growth in turnover and in its ordinary operating profit compared with 2019.
The profits of the 1st half of 2021 will be commented on.
by Valérie Benvenuto, Frédéric Sebag and Guy Mamou-Mani
in the course of the SFAF meeting which will be held - on line - on Thursday 23rd September at 11:30 a.m.
The presentation material will be available at the end of the meeting on the Open Group website
The Turnover of the third quarter of 2021 will be published
on Thursday 21st October 2021 by press release at the close of business.
Open Group - 2021 first half-year results
Appendix: Definitions of alternative performance indicators (not defined by IFRS standards)
Open Group uses the following financial indicator, which is not defined by IFRS standards: Organic growth
This indicator - organic growth - is calculated as follows:
- This indicator measures the change in net turnover in relation to the same period in the previous year, excluding the impact of exchange rates and excluding changes of scope.
- The impact of exchange rates is obtained by applying exchange rates from the previous year to current-year sales and calculating the difference in relation to current-year sales.
- The impact of scope consists of:
- current-yearsales achieved by entities that were not within the scope of consolidation for the same period of the previous year, and up until the anniversary date of their integration,
- the reduction in sales connected with transferred activities, which are not within the scope of consolidation of the current year but integrated within sales for the same period of the previous year, and up until the anniversary date of their transfer.
Of which | Of which | |||||
06 | 06 | impact of | Of which organic | |||
Aggregate | % variation | impact of | ||||
2021 | 2020 | exchange | growth | |||
scope | ||||||
rates | ||||||
Net turnover | 166.7 | 147.9 | 12.7% | 0% | 5.4% | 7.3% |
Nathalie Mrejen - Communication
Tel: +33 (0)1 71 06 31 28 nathalie.mrejen@open-groupe.com
About Open Group
With 3700 employees and a turnover of €296m in 2020, Open Group is positioning itself as a trustworthy partner of the major French public and private companies undertaking their IT and digital transformation, working mostly in France and abroad, in Luxembourg and Romania.
Its mission is to advise its customers along their transformation path, to design, produce and operate agile, resilient and secure information systems, and to provide innovative software solutions in Saas mode, based on its three activities: Digital Consulting, Digital & IT Services, Digital Solutions.
The Open Group's sets its main purpose in a forward-looking approach: "To turn digital technology into a vector of transformation
for a human and environmental value-friendly world", in accordance with its corporate values: Agility, Responsibility, Commitment.
To learn more about the Open Group:www.open.global
Media Relations AgencyWellcom- Mélanie Decomps -melanie.decomps@wellcom.fr
Open Group - 2021 first half-year results
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Groupe Open SA published this content on 22 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 September 2021 16:31:05 UTC.
