Revenues above one billion euros
Successful strategic integration of Integris Europe
Rapid adaptation to a tougher business climate
The STERIA group reported consolidated revenue of 1018 million Euros in 2002, a 100% increase on the 2001 level.
Proforma revenue, including the UK outsourcing business consolidated over the full year, came to 1070 million Euros as of 31 December 2002.
For more detailed figures, go to: http://.com/press/releases/releaseQ4.htm
By breaking the billion euro revenue barrier in line with forecasts, STERIA demonstrates the success of the integration and restructuring of Integris Europe. Key points in this success are that:
Integris Europe was already profitable at the operating level as early as 1H02.
The German business returned to breakeven in 4Q02.
Financial risks are under control:
Restructuring costs have been limited and came in on target,
Gearing targets have been respected,
Working capital requirement have been reduced.
A number of major projects were signed and completed, reflecting clients confidence and synergies across the Group as a whole. Projects included a 133m Euros contract to renew and manage IT services for the UK county of Norwich, a 3-year global framework agreement with the Norwegian Ministry of Defence, implementation of a biometrics system for handling asylum applications in the European Union (the Eurodac project), overhaul of traffic management systems for 600km of motorways in the Paris region and modernisation of Maroc Telecoms billing services, among others.
A Europe-wide Human Resource policy was put in place (mobility, training, human resources management).
The success of the integration is all the more significant as it was achieved during an extremely unfavourable economic context, particularly in France. This led STERIA to take exceptional measures to adapt the company to a more hostile business environment: reduction of costs, downsizing of structures, recruitment freeze, reduction of intercontracts as announced on 15 May 2002. The positive impact of these measures (reduced intercontrats and structure) will lead to an improvement operating margin (excluding costs of exceptional measures) in 2H2002.
OUTLOOK FOR 2003
After a year of strategic integration and a strengthening of its position as a global services operator in the European Top Ten, STERIA is now concentrating on improving operating margins and increasing market share in Europe.
STERIA is listed on the Euronext First Market
Euroclear Code : 7291, Bloomberg Code : RIA FP, Reuters Code : TERI.PA
Euronext 150, SBF 120, IT CAC 50, MIDCAC
For further information, consult the Internet site: http://www.steria.com
For further information, please contact:
Casey Balkham/Ghezala Beg
Mail to: firstname.lastname@example.orgemail@example.com
Tel: +44 (0)20 7298 7043/+44 (0)20 7298 7063
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