First-quarter revenues in line with the 2008 business plan

Click here

Business over Q1 2008

The Sylis Group recorded €34.8 million in revenues over Q1 2008. The contraction in revenues (-1.7% excluding the negative calendar effect, accounting for -1.6%, representing -3.3% in total compared with Q1 2007) is in line with the budgetary breakdown for 2008.

Activities in France Region generated €23.7 million in revenues, down in relation to Q1 2007 as a result of the scheduled end of several major contracts and the unfavorable calendar effect.
In the Benelux Region, revenues are up 2.9% to €11.1 million, with each one of the various regions achieving growth and the rate of customer demand not seeing any downturn compared with 2007.

Over the quarter, the Group was able to offset the lower occupancy rate for its teams (activity ratio including holidays down -1.2% on 2007) thanks notably to the sales price coming in better than budgeted for. Indeed, the average price recorded over the quarter was up 1% in relation to Q1 2007.

On the France and Benelux Regions, set against a still tight job market, technical staffing levels are virtually stable compared with Q1 2007 (average of 1,525 in 2008 and 1,536 in 2007).

Strategy
The first quarter also saw the continued deployment of the Suez offering (offering with a commitment to results), gradually ramping up the level of orders and prospects within a context in which IT investment decisions are tending to slow down.
Set against this background, Sylis is continuing with its industrialization strategy, deploying dedicated service centers in France for the development of outsourced IT projects and labeling its commercial offers.

Remaining firmly focused on the expectations and requirements of its clients, Sylis will be launching a second client audit at the start of H2 2008.

Outlook
For 2008, the Group is forecasting moderate growth, reflecting the speed of deployment for offerings with a commitment to results and the change in the level of competition seen on IT profiles.

Next announcement: Revenues for Q2 after close of trading on July 29th, 2008.