Paris, 22 March 2017
Business & Decision, an international consulting and systems integration group, announces, for the 2017 financial year, current operating income of € 2.4 million, compared to € 0.2 million in 2016.
The Group's results for the 2017 financial year present an improvement in current operating income. As announced in a profit warning release, on 15 March 2018, the net income of the group is strongly deteriorated following the inclusion of non-current expenses of 8.9 million euros, mainly due to the implementation of Business & Decision’s capital project and to impairment charge for foreign subsidiaries.
Total revenue amounted to € 212.0 million for the 2017 financial year, growing 1.3% over the 2016 financial year at constant exchange rates (1) and comparable scope (2).
As part of the audit work and in the application of the consolidation principles (scope adjustment), the group's revenue, announced on 31st January at € 213.1m is revised by € 1.1 million.
(1) constant exchange rates: 2017 average annual rates applied to 2016 (2016 revenue impact of € 0.8 million)
(2) comparable scope: exclusion of sold activities in the United States and in the United Kingdom (2016 revenue impact of € 17.6 million)
Current operating incom
Net income (group share)
(*) Status of the accounts relating to the audit / At the date of this release, accounts have been approved by the Board of Directors on 21 march 2018. Audit of accounts procedures are in progress.
Jean-Louis Didier Chairman and Chief Executive Officer of Business & Decision said: "In 2017, we continued our efforts to refocus and optimize our organizations. Our results reflect the efforts made to move through the transition period and prepare for the future of the group. "
Current operating income amounted to € 2.4 million compared to € 0.2 million for the 2016 financial year. This improvement is due to operational cost optimization action plans, particularly in France. Nevertheless, the United States weighed on the Group's current operating income as a result of the Mi-Case Arizona project report, expected to be implemented in 2018.
Operating income amounted to € -6.5 million, after impact of non-current operating expenses including restructuring costs of € 2.1 million; costs relating to Business & Decision's capital project for € 1.7m, additional costs of the sale of businesses in the United States for € 0.9m, impairment charge of € 4.0m for adjustments to the general context of activity in the United States and in the French-speaking Switzerland, and impairment of assets held for sale of € 0.2 million.
Net income, group share, amounted to - € 11.2 million, including a financial result of € - 2.7 million and tax expenses of € 2.8 million.
Total assets is 157.2 million euros at the end of 2017. The net financial debt amounted to 30.5 million euros compared to 27.1 million euros for the previous year, under the effect in particular of the pre-financing of tax credits and the increase in the use of factoring.
Net cash position shows stability compared to the previous year. Cash flows generated by the activity show a positive variation of € 6.1 million at the end of 2017, compared to a negative variation of € 2.4 million at the end of 2016.
The year 2018 should be marked ty the continuation of the return-to-performance action plan for Business & Decision. The project with the Orange Group continues, following the signing in October 2017 of the agreement on the sale of the control block of Business & Decision, as indicated in the press releases of October 26, 2017 and March 15, 2018. In this context, the 2020 strategic plan and the objectives announced by Business & Decision will be reviewed to take account of new perspectives.
31 July 2018: 2018 first half revenue, after market close
30 August 2018: 2018 first half results, after market close
31 January 2019: 2018 full year revenue, after market close
About Business & Decision
Business & Decision, an international Consulting and Systems Integration company, is a leader in Business Intelligence (BI) and CRM, and a major player in e-Business. We leverage a unique combination of technical, functional and industry specialization, as well as partnerships with all of the key software vendors, to deliver maximum-value projects and help clients break through barriers to innovation such as Big Data and digital transformation. Business & Decision operates in 11 countries and employs over 2,400 employees in France and worldwide.