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Financial Press Releases

17 Février 2010 SQLI - 2009 Turnover: €154.7 million

SQLI generated consolidated turnover of €41.3 million in the fourth quarter of 2009, up 2.9% on the same period in 2008. Excluding the integration of Naga Conseil, Aston Education and M&L, quarterly turnover was down 1.5%.

Over the full year, consolidated turnover for 2009 came to €154.7 million, down 1.5% on published data and down 3.4% like-for-like. Proforma turnover, which includes acquisitions over the full year, came to €158.0 million.

At end-December, SQLI employed a workforce of 1,961, compared with 1,936 a year earlier. The increase in staffing levels is due exclusively to acquisitions and hiring targeted on the most sought-after areas of expertise (Consultancy, Business Solutions, and Web Agency). In parallel, the group is continuing to pursue its policy of regularly adjusting its resources.

18% growth in Consultancy, Business Solutions and Web Agency activities

In 2009, SQLI reaped the benefits of its investments over the past three years designed to reposition the group and develop new, high value-added offerings. Consultancy, Business Solutions and Web Agency thus posted an 18% growth rate over the full year. These now account for 46% of group billing.

The new positioning has resulted in numerous commercial successes. SQLI was selected by Nespresso (Nestlé Group), following an international competition involving all the main players in the market to carry out a complete remodelling of its e-commerce strategy. SQLI Institut, the group’s learning services arm, has also recently won a contract worth close to €4 million with Pôle Emploi, the government employment agency, involving 400,000 hours of training in the Ile de France (Greater Paris) area. SQLI has thus proved the validity of its strategic choices, notably with respect to its acquisitions.

Gradual upturn in profitability

The group’s operational indicators began to recover in the second half. The improvement in the activity rate (78% over the full year), combined with the increase in the mean daily rate (ramp-up of high value-added activities) and the drop in operating costs, will help the group to significantly improve its second-half current operating income before valuation of stock options, relative to the first half of 2009.

The upturn in profitability, from one half-year to the next, should be confirmed in 2010, largely due to an improvement in the market environment and to a service offering that meets the requirements of leading principals.

In parallel, the group is pursuing a strict financial policy. SQLI has accordingly reduced its net debt to less than €3 million as at 31 December 2009. The banking covenants applicable at that date were all satisfied.

SQLI will publish its 2009 results on Thursday 1 April, after close of trading.

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