ALTEN (EPA:ATE) - ALTEN: Full-year 2018 revenue

Transparency directive : regulatory news

29/01/2019 17:40

PRESS RELEASE

Paris, January 29th 2019 5:40 pm

                      BUSINESS AT THE END OF DECEMBER 2018

* Sharp growth of activity: +14.4%
* Strong organic growth: +12%
* 10 international acquisitions

EUR million           2017               2017           2018     Year-on-year
                 As released         IFRS 15         IFRS 15        change

Revenue            1,975.4           1,984.7         2,269.9             +14.4%

- Of which
  France 914.4 i.e. 46.3% of 925.6% i.e. 46.6% of 1,029.9% i.e. 45.4% of +11.3%
               total revenue        total revenue      total revenue
- Of which
International
       1,061.1 i.e. 53.7% of 1,059.1% i.e. 53.4%  1,240.0% i.e. 54.6% of +17.1%
               total revenue        total revenue      total revenue

Headcount          28,000               28,000            33,700         +20.4%

Please note the new IFRS 15 Revenue from Contracts with Customers standards
implemented in January 1st 2018 do not bear a significant impact on the
information that is released.

BUSINESS UP +14.4% AT END OF DECEMBER

Business continued to grow all through 2018 both in France (+11.3%) and abroad
(+17.1%). On a like-for-like basis, organic growth has further accelerated to
reach 12% (11.3% in France and 12.7% outside France).

Q4 2018 revenue has reached EUR613.5 M, hence up +16.7% as compared to 2017
(EUR525 M). On a like-for-like basis and constant exchange rate, business grows
by 13.7% (14.1% in France and 13.3% on an international level).

All geographical areas - with the exception of Germany - are in sharp growth
(>10%).

All business sectors are growing, more particularly Aerospace, Automotive, Life
Sciences, Defense &Security and Rail/Naval.

EXTERNAL GROWTH: 10 ACQUISITIONS OUTSIDE FRANCE

In a strategic context of international growth, ALTEN is consolidating its
positions abroad and has carried out 10 acquisitions outside France (8 in
Europe and 2 in Asia):

* 3 companies in Germany/Austria (annual revenue: EUR21.5 M, 255 consultants)
* 2 companies in Spain (annual revenue: EUR27.5 M, 570 consultants)
* 2 companies in Scandinavia: Sweden/Finland (annual revenue: EUR18 M, 155
  consultants)
* 1 company in Netherlands (annual revenue: EUR6.5 M, 90 consultants)
* 1 company in China (annual revenue: EUR7 M, 160 consultants)
* 1 company in India (annual revenue: EUR1.3 M, 100 consultants)

OUTLOOK FOR 2019:

Assuming similar economic conditions as in 2018, ALTEN should achieve a
positive organic growth in 2019 and should be able to strengthen its targeted
strategy of external growth.

NEXT RELEASE:

2018 full-year results:    Analyst meeting: Wednesday, February 20th 2019
                           Press release:
                           Tuesday, February 19th 2019 after market closing

Appendix to Press Release:

Definition of alternative performance measures and reconciliation with IFRS
standards

The ALTEN Group uses alternative performance measures especially selected to
follow up on its operational activities. The Group has chosen these measures as
they supply additional information allowing the users of periodic financial
information to have a comprehensive understanding of the Group's performance.
Such alternative performance measures are complementary to IFRS standards.

Revenue growth on a like-for-like basis (i.e. organic growth)
Growth on a like-for-like basis (and constant exchange rate) is calculated
excluding the effects of exchange rate variations and the variations of the
consolidation scope on a chosen period.

Exchange rate impacts are measured by converting the revenue of the period with
the average exchange rate from the previous period.
Scope variation impacts are measured excluding acquisitions, revenue of the
period and for transfers, revenue of the previous period, in order to create a
scope which is identical to the previous period. This alternative measure
enables to identify the real performance of the Group in terms of activity on
the chosen period.

This alternative measure enables to identify the real performance of the Group
in terms of activity on the chosen period.

Evolution of business in 2018

EURM
                         2017 Revenue as  2017 Revenue  2018 Revenue  % Change
                            released         restated
                                            of IFRS 15
Revenue on a like-
for-like basis              1,975.4          1,984.7        2,223.1     12.0%
France                        914.4            925.6        1,029.9     11.3%
International               1,061.1          1,059.1        1,193.2     12.7%
Scope variation                                                70,6      3.6%
France
International                                                  70,6      6.7%
Exchange rate impact                                          -23,8     -1.2%
France
International                                                 -23,8     -2.2%
Group revenue               1,975.4          1,984.7        2,269.9     14.4%
France                        914.4            925.6        1,029.9     11.3%
International               1,061.1          1,059.1        1,240.0     17.1%

(c) Direction ALTEN - www.alten.com Engineering and Technology Consulting

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