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First half 2003 results

• The STERIA group’s 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 constant currency exchange rate (*).

• Operating profit in 1H03 will be higher than in 1H02, in line with STERIA’s stated priorities.

Activity in the first half of 2003

With a constant currency exchange rate and the same group structure, revenue was 9.89% lower in 1H03 than in 1H02 (7.7% down in France, 7.2% down in the UK and 14.8% down in the rest of Europe). This decline resulted from the combined effect of the restructuring of Integris Europe, which was particularly significant in Germany and Spain, the planned reduction of the product business and difficult trading conditions, which since 2002 have led STERIA to adapt its business. This revenue was achieved with an average staff of 8,100 in 1H03, compared with 9,050 in 1H02.

At the end of 1H03, STERIA recorded a book-to-bill ratio (orders taken/revenue) of 1.2, confirming the steady rate of orders from large European clients and STERIA’s position as an IT services global operator.

Outlook

The European IT services market continued to shrink in 1H03 and remains characterised by poor visibility and continual downward pressure on prices. In these circumstances, STERIA’s priority remains cost cutting that will ensure improved operating profitability.

(*) average eur/sterling exchange rate:
1H02 £1 = €1.60982
1H03 £1 = €1.45978


STERIA is listed on the Euronext First Market
Code ISIN : FR0000072910, 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


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