Turnover of €203.1 million
Current operating income of €26.6 million
The Tessi Group's Board of Directors met on 5 September 2016 and approved the first half 2016 financial statements. The Statutory Auditors have carried out a limited review of these consolidated financial statements.
Consolidated income statement (1 January – 30 June)
|€m||H1 2016||H1 2015|
|Current operating income||26.6||22.8|
|Current operating margin||13.1%||16.0%|
|Consolidated net income (Group share)||16.3||12.9|
Tessi posted first half 2016 turnover of €203.1 million, up 42.4%, including 12.4% like-for-like growth (excluding the recent acquisitions of Diagonal Company, Tessi documents solutions Switzerland and Austria and BPO Solutions).
Turnover generated outside France amounted to €59.9 million, compared to €16.1 million in H1 2015.
Current operating income rose by €3.8 million to €26.6 million, up 16.6% compared with the previous year. Like for like, current operating income decreased by €1.1 million, or 5%.
The operating margin amounted to 13.1%, compared to 16.0% in H1 2015 and 14.4% for full year 2015. Three main factors explain this trend:
The contribution of each division to the Group's current operating income was as follows:
Net income Group share increased by 25.8% to €16.3 million, after a net financial expense of €0.8 million, corporation tax of €8.2 million and minority interests of €1.5 million.
Group net margin amounted to 8.0% of turnover, compared with 9.1% in H1 2015.
|Net cash excluding net cash dedicated to CpoR Devises||-2.9||-0.2|
|Equity capital (Group share)||183.6||173.6|
Operating cash flow amounted to €15.3 million compared with €21.4 million as at 30 June 2015.
Capital expenditure amounted to €5.6 million, while investments in external growth amounted to €15.0 million.
Free cash flow amounted to an outflow of €15.2 million, compared to a €9.3 million inflow last year.
Expected trends for 2016
Tessi will prioritise the integration of the recently acquired companies in 2016, and will focus on ensuring that the newly expanded consolidation scope achieves the Group's customary profit levels. Tessi will also pursue its policy of innovation and acquiring new expertise, both in France and abroad.
Q3 2016 turnover,
7 November 2016 after market close.
For further information visit: www.tessi.fr
Executive Secretary - Director of Communication
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Amalia Naveira / Investor Relations
Marie Claude Triquet / Media Relations
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