> Consolidated turnover excluding CPoR Devises (1 January - 30 September)
On 4 June 2018, Tessi announced the signing of an agreement with Loomis for the sale of CPoR Devises*, a business in which Tessi currently holds an 80% equity stake with the remaining 20% held by Crédit Agricole SA. CPoR Devises is henceforth consolidated as an asset held for sale and is excluded from Tessi's reported 2017 and 2018 turnover for comparison purposes.
|€m – unaudited||2018
|Total 9-month turnover||310.7||289.8|
After generating like-for-like growth of 3.1% for the first half, Tessi posted Q3 2018 turnover of €105.3 million (excluding CPoR Devises), up €14.0 million from the same period in 2017. Owliance contributed €8.9 million to third quarter growth, while growth at constant consolidation scope amounted to €5.1 million or 5.6%.
For the nine-month period, the Group (excluding CPoR Devises) posted turnover of €310.7 million, up €20.9 million. Like-for-like growth came to 3.9% or €11.3 million.
> 2018 outlook
Tessi is committed to continuing its strategy to grow its core business centred on information flow management and the outsourcing of high value-added services, while maintaining its margins. In addition, Tessi will continue to implement its innovation policy and remain on the lookout for potential acquisitions.
*As CPoR Devises is a credit institution, its disposal is subject to a non-opposition decision by the European Central Bank, on the recommendation of the French Prudential Supervision Authority (ACPR).
Annual turnover, 7 February 2019 after market close
· Tessi is the No. 1 document processing specialist in France
· Listed on Euronext Paris Compartment B - ISIN code – FR0004529147 – Ticker: TES
· Head office in Grenoble, France (38)
· Created in 1971 and acquired by Pixel Holding on January 12, 2017
· European leader in information flow management and cheque receipt and processing
· French No. 1 in managing deferred promotional operations
For more information please visit our website: www.tessi.fr
Phone: + 33 (0)4 76 70 59 10
Amalia Naveira / Investors Relation
Marie Claude Triquet / Media Relation
Phone: + 33 (0)4 72 18 04 90
email@example.com / firstname.lastname@example.org