on INFOTEL (EPA:INF)
Infotel Reports Temporary Slowdown in Q1 2024 Revenue, Optimism for Second Half
Infotel (ISIN: FR0000071797 - ticker: INF), a leading partner in digital transformation for key European accounts, announced its Q1 2024 revenue figures, showing a decrease of 5.6% compared to Q1 2023. Revenue fell to €79.1 million, impacted by a subdued market and less budget allocation in the Banking sector.
The Services segment saw a 5.7% drop to €75.8 million, influenced by postponed projects and internalized initiatives in Banking and Insurance sectors. Despite this, Infotel secured new projects from Covéa, Banque de France, Stellantis, and Vinci, showcasing solid business activities.
Software revenue experienced a 4.9% dip to €3.2 million. However, IBM royalties increased, and contracts were signed with SAS and Indigo. A new framework agreement with Airbus could stimulate growth as the year progresses.
A dividend of €2 per share will be distributed on May 31, reflecting confidence in future performance. Infotel remains optimistic for H2 2024, anticipating a rebound in growth.
The H1 2024 revenue announcement is expected on July 31, 2024, after market close.
R. E.
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