SOLVING EFESO INTL : 2015 revenue

Press release English T4 year 2015

ABU DHABI, ATLANTA, BARCELONA, BERLIN, BRUSSELS, BUDAPEST, BUENOS AIRES, CAIRO GOTHENBURG, 'S-HERTOGENBOSCH, ISTANBUL, LISBON, MANCHESTER, MEXICO CITY,

MILAN, NEW DELHI, NEW YORK, PARIS, RIYADH, SAÕ PAULO, SEOUL, SHANGHAI, SINGAPORE SAINT PETERSBURG, STOCKHOLM, TOKYO

Financial information I Paris, 4 February 2016

EFESO Consulting

REVENUE

4th quarter 2015: €18.6 million (up 12.2%; down 0.9% on a like-for-like basis)

• growth sustained in emerging countries
• slowdown in France and the US

  
  

  Full-Year 2015: €72.4 million (up 13.3%; up 3.1% on a like-for-like basis)

  
  

• strong growth in the 1st half of the year (up 10.8% at constant group structure) before slowing in the 2nd (up 1% at constant group structure)
• mixed growth in Europe and sustained growth in the Middle East and Asia
• integration of EFESO Belgium (formerly Empact) contributing €4.7 million

EFESO Consulting (Alternext: ALEFE), an international consultancy firm specialised in strategy and operational excellence positioned in rapidly growing markets, publishes its revenue for the fourth quarter of 2015.

Filippo Mantegazza, Chairman of the EFESO Consulting Management Board, said, "In 2015, revenue gathered momentum at the start of the year: after two first quarters of very high growth, the second half of the year was marked by a significant slowdown across most of our markets, with overall revenue more or less stable. For the financial year, despite a highly competitive environment, several of our major markets (France, Germany and the United Kingdom) displayed sustained growth and our investment in emerging countries proved to be wise with very high growth in the Middle-East and China. In May, we acquired the Belgian company Empact, which has become EFESO Belgium, and this acquisition contributed €4.7 million to revenue in 2015."

EFESO Consulting - 117, avenue des Champs-Elysées, 75008 Paris - France - tel +33 1 53 53 57 00

fax +33 1 53 53 97 00

info.france@efeso.com - www.efeso.com

Limited company governed by a Management Board and a Supervisory Board with share capital of €12,150,214 328 153 481 R.C.S. Paris SIRET 328 153 481 00044 - APE 7022Z - Intracommunity VAT N° FR83328153481

2015: sales increased during the 1st half of the year while remaining stable in the 2nd half

Revenue for EFESO Consulting reached €72.4 million in 2015, up 13.3% compared to 2014 (up 3.1% on a like-for-like basis).

Sales grew strongly at the start of the year, up 16% in the 1st quarter and 6% in the 2nd quarter, both at constant group structure, following the gradual implementation of assignments signed with major accounts at the end of 2014. As indicated, the second half of the year saw a slowdown, particularly in France and the US, with overall revenue growing by 1.8% and 0.2% (at constant group structure) in the 3rd and 4th quarters.

France, the Group's leading country in terms of activity, recorded significant growth of 8% despite a highly competitive market and within a lacklustre business environment. Subsidiaries EFESO Germany and EFESO UK also demonstrated significant growth linked to the international extension of assignments conducted on behalf of major groups.

Emerging countries continue to grow at a rapid pace. Growth was particularly high in the Middle East (up 179%), China (up 75%), Egypt (up 53%) and India (up 25%), as well as Brazil (up 15%) despite the difficult economic situation in this country. However, activity in Russia shrunk considerably in the context of an acute economic and financial crisis.

Revenue analysis	2015	2014
Europe	70.6%	70.6%
France	23.6%	26.9%
Europe (excl. France)	47.0%	43.7%
North America	12.8%	14.5%
Emerging countries	16.6%	14.9%
of which Asia	5.7%	4.8%
of which Russia	0.4%	1.8%

2016 outlook: continue with commercial rollout and integration of recent acquisitions

In the uncertain environment characterising the start of 2016, the Group is maintaining its objective of achieving organic growth in excess of that of the consultancy market in 2015 and of seeing its operating profitability grow at a more rapid rate than revenue.

The Group will pay particular attention to the integration of EFESO Belgium, acquired in 2015, and notably the development in Belgium of synergies with other Group practices. In mid-December, the Group announced the acquisition of Irish company Tanneron, specialists in implementing lean management and working for large international accounts, predominantly in the pharmaceutical sector in Ireland, the US and India, with a team of 20 professionals. One of the Group's priorities for 2016 will therefore be to integrate this company while exploiting existing synergies, particularly in North America where EFESO Consulting already has a strong presence.

Next communication: 2015 Results, 22 March 2016 (after market close) Contacts:

Emmanuel FRIONNET, Chief Financial Officer,

Tel: (+33-1) 53 53 57 00 - info.investor-relations@efeso.com Antoinette DARPY, Press

Tel: (+33-6) 72 95 07 92 - adarpy@tobnext.com

EFESO Consulting is a global leader in corporate strategy and operational performance improvement

consulting and is positioned as a niche specialist, capable of providing unique long-term support.

Created in 2007 as a result of the merger of two leading niche corporate consultancy firms, EFESO Consulting Group employs more than 450 consultants and is established in 27 countries (Europe, Middle East, Asia and the Americas).

www. efeso.com

EFESO Consulting shares trade on Alternext Paris.

Free float: 21%

Number of outstanding shares: 24,300,428 ISIN FR0004500106

Ticker: ALEFE

Date of IPO: 02/07/1998

Code 6467 Bloomberg: ALEFE.FP Reuters: ALEFE.PA

This document may contain forward-looking financial information (particularly with regard to targets and trends) and forward-looking statements concerning EFESO Consulting's financial position and performance, its operations and its strategy.

Such forward-looking disclosures and statements are based on data or assumptions that could ultimately prove inaccurate and are subject to a number of risk factors, and in particular currency fluctuations and general economic and financial conditions. EFESO Consulting does not assume any duty or responsibility towards investors or towards any other party to update or revise, whether as a result of new information, future events or otherwise, all or part of the statements, forward-looking information, trends or targets provided in this document.