- Turnover: +36%
- Adjusted EBITDA (1) : +38%
- Net income (Group share): + 39%
- Profitable, double-digit growth outlook for 2017 confirmed
| € million | 30/06/2017 | 30/06/2016 | Change |
| Turnover | 117.2 | 86.3 | +36% |
| Adjusted EBITDA (1) | 10.6 | 7.7 | +38% |
| As % of turnover | 9.0% | 8.9% | |
| Adjusted EBIT (2) | 9.1 | 6.8 | +35% |
| As % of turnover | 7.8% | 7.9% | |
| Net profit/(loss) from consolidated companies (3) | 6.2 | 4.3 | +44% |
| As % of turnover | 5.3% | 4.9% | |
| Net income (Group share) | 4.9 | 3.5 | +39% |
| As % of turnover | 4.2% | 4.1% | |
| Financial structure data | 30/06/2017 | 31/12/2016 | Change |
| Equity | 41.6 | 37.5 | +€4.1 million |
| Net debt | 28.1 | 20.6 | +€7.5 million |
| Interest Coverage Ratio (4) | 11.8x | 11.7x | - |
(1) Operating income from recurring activities (*) before provisions net of writebacks of amortisation and depreciation (2) Operating income from recurring activities (*) before amortisation of intangible assets, including client relations (3) Before amortisation of goodwill (4) EBIT on net financial expense - The coverage rate of net financial expense through EBIT (*) Are considered non-recurring activities: income and expense which is significant due to its amount, unusual by type and uncommon. In particular, restructuring costs resulting from acquisitions and integrations of companies.
Gianbeppi Fortis, Chairman of the SOLUTIONS 30 Executive Board, commented: " These results confirm the Group's capacity to simultaneously manage solid expansion in France, strong organic growth across Europe as well as the integration of structuring acquisitions, particularly in Germany. Since 2015, SOLUTIONS 30 has accelerated its growth momentum which has been successfully harnessed thanks to a business model combining operating efficiency and financial discipline. Our performance is also and above all the product of our teams' unrelenting commitment as well as their skills and responsiveness. "
" We will continue to replicate our French business model across all regions where local installations are required. Germany has become the Group's second market in this half-year, added Karim Rachedi, Chief Operating Officer of SOLUTIONS 30. With the advent of digital, which impacts all business sectors, we can draw on a number of growth drivers in France and internationally. SOLUTIONS 30 has the infrastructure in place to capture growth in these markets and we have now secured our referencing on most tenders issued or being studied in France, Germany, Italy, Benelux and Spain in our fields of expertise. "
Strong growth in H1 2017
In H1 2017, SOLUTIONS 30 achieved consolidated turnover of €117.2 million, up by +36% compared with H1 2016.
In France, turnover reached €74.9 million, versus €61.3 million a year earlier, i.e. purely organic growth of 22%, largely attributable to the Group's fibre-optic roll-out and Linky smart meter installation businesses.
Internationally, where the Group now conducts 36% of its business, turnover came out at €42.3 million over the half-year, resulting in robust growth of 69% that was driven by the integration of external growth acquisitions made in Germany, Benelux and Spain. At constant scope, organic growth was 17%.
38% growth in adjusted EBITDA and 35% growth in adjusted EBIT
Adjusted EBITDA stood at €10.6 million, up by 38%, i.e., in relative value, 9.0% of turnover, up slightly compared with 8.9% in H1 2016. And this, despite the 1.1 point increase in direct operating costs, linked to the ramp-up made in France and offset by structuring costs being kept under control.
After recognition of operating amortisation for €1.5 million, linked to the business software, S30 Net, and equipment used by the Group's technicians, adjusted EBIT came out at €9.1 million, up by 35%.
Financial income was €(0.8) million versus €(0.4) million a year earlier. It includes €0.2 million in non-recurring expense linked to the implementation, at the start of the year, of structured financing securing the Group's external growth policy (establishment of a €35 million credit line over a 6-year period, mid-long-term debt renegotiated for an amount of €30 million over a 6-years period, and short-term debt for €10 million, confirmed for 5 years).
Net profit from consolidated companiesreached €6.2 million versus €4.3 million a year earlier and net income (group share) reached €4.9 million, up by 39%.
A solid financial structure
At 30 June 2017, Group equity totalled €41.6 million versus €37.5 million at 31 December 2016 and net debt amounted to €28.1 million versus €20.6 million.
With a gearing (net debt to equity) of 67%, and a coverage rate for net financial expense through adjusted EBIT of 11.8x, the Group has the room for manoeuvre needed to continue its growth strategy.
Growth outlook confirmed
The Group's good first-half performance confirms its profitable double-digit growth targets for the 2017 financial year.
The Group will continue its efforts in the second half-year to control an increase in direct costs linked to: the integration of recently acquired German companies; the set-up of Energy business in Italy; and investments in France to roll out high-speed internet and Linky meters.
Next key dates:
8 November 2017 Q3 2017 turnover
23 January 2018 2017 turnover
Results will be announced after the close of the Alternext and XETRA markets, i.e. 20:00 CET.
About SOLUTIONS 30
The SOLUTIONS 30 Group is Europe's leading provider of Solutions for New Technologies. Its mission is to make the technological changes that transform our daily lives accessible for everyone, individuals and businesses alike: yesterday computers and the Internet, today, digital; tomorrow, the technologies that will make the world ever more connected in real time. Since its founding, the Group has handled more than 10 million calls by drawing on a network of 3,700 regional technicians. SOLUTIONS 30 currently covers the whole of France, Italy, Germany, the Netherlands, Belgium, Luxembourg and Spain. SOLUTIONS 30 S.E.'s capital comprises 20,440,516 shares, with an identical number of theoretical and exercisable voting rights.
SOLUTIONS 30 S.E. is listed on the Alternext market - ISIN FR0012750586 - code ALS30, eligible for the PEA-PME share savings plan, and on the Frankfurt stock exchange on the Xetra electronic system (ISIN FR0010263335 - code EO2) For more information, go to www.solutions30.com
SOLUTIONS 30 CONTACTS:
| SOLUTIONS 30 | EDIFICE COMMUNICATION |
| Nezha Calligaro | Cash Manager | Samuel Beaupain | Press Relations |
| +352 2 648 19 17 | +33 (0)6 88 48 48 02 | samuel@edifice-communication.com |
| GENESTA Finance | |
| Hervé Guyot | Listing Sponsor | Nathalie Boumendil | Investor Relations |
| +33 (0)1 45 63 68 60 | hguyot@genesta-finance.com | +33 (0)6 85 82 41 95 | nathalie@edifice-communication.com |
