STERIA 2003 first half results - Very sharp rise in earnings per share

STERIA 2003 first half results - Very sharp rise in earnings per share First half 2003 results On 22 September 2003 the STERIA GROUP SCA supervisory board examined the consolidated accounts submitted by Management for the first half of 2003. The key figures are as follows: [REMOVED GRAPHICS] - Consolidated revenue in 1H03 was €478.5 million, a decline of 2.98% versus 1H02 (not including UK outsourcing activities in 1Q), or 1% at a constant currency exchange rate. - Operating profit in 1H03 was €14.2 million, with an operating margin of 3% (1.9% in 1H02). - Attributable net profit was €8 million, a very sharp rise versus 1H02 (€2.9 million). - Net financial debt in 1H03 fell to €12 million (including €26 million in factoring), compared to €43 million in 1H02. - The level of orders taken in the first half (€575 million) represents 120% of 1H revenue. Activity in the first half of 2003 1H03 highlights: - The successful integration of Intégris Europe's activities, giving rise to very strong growth in earnings per share. - Low gearing (6.4%) despite restructuring and adaptation efforts. - The creation of a European structure (European Delivery Center), aimed at streamlining Steria's data centers and industrializing its outsourcing offering at Group level. - The successful extension of employee shareholding to all European personnel, confirming STERIA's leading position in Europe as regards employee share ownership (30% of capital held by employees), and strengthening the motivation of its staff and their commitment to the group's values. Outlook Initial signs of recovery in the US and European economies suggest an upturn in the European IT services sector could be on the cards for 2004. Order book expansion and the tight grip on inter-contract rates demonstrated over the past few weeks confirm this trend. The Group therefore expects flat revenue in the second half of 2003 relative to 1H03 and maintains its target of improving operating profitability over FY03. In an IT services market undergoing consolidation, Steria intends to build on its experience and resources to strengthen its TOP 10 position in Europe, by: - Further improving profitability; - Achieving faster organic growth than the IT services market; - Remaining an active player in sector consolidation. Steria is listed on the Premier Marché of the Paris Stock Exchange ISIN Code: FR0000072910, Bloomberg code: RIA FP, Reuters code: TERI.PA, Euronext 150, SBF 120, IT CAC 50, MIDCAC For further information, visit our website: http://www.steria.com Press Relations Antoine PERNOD Tel. : +33 1 34 88 94 95 / + 33 6 17 64 29 39 e-mail. antoine.pernod@steria.com Investor Relations Yves ROUILLY Tel. : +33 1 34 88 61 95 / + 33 6 09 48 08 83 e-mail. yves.rouilly@steria.fr ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/10/14/20031014BIT00450/wkr0002.pdf