Unilog announces 2004 Results

  • Unilog announce a good performance in France and a recovery of subsidiaries in Europe

(millions of euros) 2004 2003 Change (%)
Revenues 657,4 593,1 +10,8
Operating income 55,4 43,7 +26,9
Operating margin 8,4% 7,4% -
Net income before goodwill 33,7 25,0 +34,7
Net margin 5,1% 4,2% -
Net income, Group share (after GW) 33,5 20,5 +63,2
Workforce as of 12/31 7 438 6 633 +12,1

Trend in profitability
As anticipated, the year 2004 was marked by a rise in profitability that outstripped the increase in revenues. This improvement concerned all the geographic regions in which the Group operates.
  • In France, operating income increased by 11.1% and corresponded to an operating margin of 10.7% (compared with 10.3% in the previous year).
  • In Germany, the operating loss was reduced from 5 million euros in 2003 to 1.1 million euros. This figure includes the negative contribution of 3.4 million euros from Training activities, affected by restructuring costs. Conversely, Consulting & Systems Integration Systems reported a profit, principally as a result of the six-month consolidation of Avinci.
  • In the United Kingdom, the operating loss stood at 0.7 million euros, down from 2 million euros in 2003.
  • In Switzerland, operating income totalled 0.6 million euros, corresponding to an operating margin of 5.2%.
In the final analysis, the Unilog Group achieved its constant objective in 2004, generating a net margin (before goodwill) of at least 5%.

This favourable trend in results allows the introduction of the new financial approach announced at the Shareholders' Meeting in November 2004. The Executive Board will propose that the Annual Shareholders' Meeting of June 14, 2005, approve the payment of a net divided of 0.70 euro per share (compared with 0.45 euro for 2003).

Outlook for 2005
The Group intends to pursue its strategy based primarily on organic growth that significantly outperforms the market. Consequently, in an improved economic environment and in light of the ongoing recovery of European subsidiaries, growth in 2005 is expected to be stronger than in 2004.

Unilog is a European IT services and management consultant specialist that works alongside major companies on their system-integration, management consulting, outsourcing and training projects. With 7,500 employees, the company has bases in France, Germany, the United Kingdom, Switzerland, Austria and Luxembourg. Through its partnerships with ESCAN (southern Europe) and Keane (North America), Unilog & Affiliates implements both national and international projects. Local, nearshore and offshore (Maroc, Liban, Inde, Canada) service-centres add to this scope. To find out more: www.unilog.com

Press Contact :
Séverine Dokan
Tél. : +33 1 58 22 47 02
Fax : +33 1 58 22 40 80