(in M€)	H1 2010	H1 2009 restated	Var.
Revenue	119.4	118.6	0.6 %
Current operating income	7.6	0.4
Current operating margin	6.4%	0.3 %	+ 6.9
Operating income	6.4	0.4
Operating margin	5.4 %	0.3 %	+ 5.1
Net income (Group share)	3.1	-1.1

 

 

H1 2010 revenue increased by 0.6% over the comparative period for 2009. Current operating income for H1 2010 increased to €7.6 million compared with €0.4 million in the comparative period for 2009, representing 6.4% of revenue.

 

Group net income was €3.1m, after taking into account charges of €0.7m related to rescheduling Group debt, €O.5m charges related to the discontinuation of Group activities in Romania, €1.8m taxation costs and net financial charges of €1.5m.

 

 

In July, the Group renegotiated a repayment plan with its banks to restructure its debts and covenants to correspond with the Group's outlook in terms of cash flow and profitability. In accordance with this agreement repayments on a medium-term loan of €29m have been rescheduled over a period ending in 2015. The Group has now reduced factoring services to a maximum of €15m. The new bank covenants have been rationalised and simplified and are valid as of 30^th June 2010.

 

Patrick Bensabat, Chief Executive Officer of Business & Decision, comments: "The growth of activities first seen towards the end of 2009 has been confirmed over the first half of 2010. Improvements in performance compared with H1 2009 are very significant, but improvements in activities from H2 2009 are also noticeable. We are determined to continue increasing profitability and improving performance.  In order to achieve this, we are continuing efforts to stabilise the Group economically, including significant commercial investments, and consolidation of our Group model based on innovation and specialisation."

 

 

Outlook

 

Business & Decision is maintaining its strategy as a specialist player in its markets, offering leadership and expertise to supply its clients with quality services in a cost effective manner. The Group has been developing new solutions which have already been successfully marketed in several countries, and which will be the driving forces of future business activity.

 

The reorganization of loan repayments with financial partners will provide Business & Decision with a strong financial structure from which to move forward. Growing profitability enables the Group to meet the terms of its banking agreements. 

The Group confirms this positive forecast that will be achieved by consolidation and a continued focus on profitability.

 

 

Upcoming Financial Events:

 

October 28th 2010	Publication of 2010 third quarter turnover at 5 :35 PM
January 31st 2011	Publication of 2010 full year turnover at 5 :35 PM

 

 

About Business & Decision

Business & Decision is an international Consulting and Systems Integration (CSI) company. It is a leader in Business Intelligence (BI) and Customer Relationship Management (CRM), and a major player in e-Business, Enterprise Information Management (EIM), Enterprise Solutions as well as Management Consulting. Business & Decision contributes to the success of customer projects by driving maximum business performance. The company has a reputation for functional and technological expertise and has forged partnerships with all of the key technology vendors.

Located in 18 countries, Business & Decision currently employs more than 2300 people worldwide.

Additional information is available at www.businessdecision.com

Contact

 

 Investor Relations

Business & Decision

Tel: +33 (0)1 56 21 21 20

Fax: +33 (0)1 56 21 21 22

finance@businessdecision.com