Q1 2016 turnover: €47 million

Organic growth, strategic acquisition and targets confirmed

SQLI, a benchmark partner for businesses and brands in the definition, implementation and management of their digital transition, has reported a robust start to the year and completed its first strategic acquisition ahead of the disclosure of its new development roadmap for the coming years.

€ Million - IFRS - Pre-audit data 2015 2016 Organic growth
1st quarter 44.4 47.4 +7%

Strong uptake amongst major accounts

SQLI generated turnover of €47.4 million in the first quarter of 2016, up 7% in purely organic terms on the first three months of 2015.Group sales were driven by the increasing success of its Innovation Services Centers (digital and agile services) in Bordeaux and Rabat, which accounted for 30.5% of days charged over the period as against 28% in 2015 and 19% in 2014.The start of the year was notably marked by the increase in services for major accounts including Airbus Group (new e-commerce base for Airbus Helicopters) and French rail operator SNCF (digital platform for the Transilien network and new interface for ticket machines).

The Group also continued to promote its sector expertise with the launch of its new integrated Smart Utilities offer for Europe's leading energy operators and sponsorship of the Digital Luxe Meeting in Paris, a signature event attended by key players from the luxury industry.

Building a european leader

In line with its goal to build a European leader in Connected Commerce, SQLI is now present in the United Kingdom and is able to draw upon a team of experts in e-Commerce delivery with a dynamic Offshore development base in South Africa (Cape Town).

At the start of April, the Group also announced the integration of twenty or so employees from InventCommerce who operate across the entire e-Commerce value chain, from consulting to architecture, development and support.This strategic operation comes alongside the consolidation of SQLI's operations in Switzerland with the opening of a new office in Zurich.

Activity invoiced by the Group's subsidiaries outside France (Switzerland and Belgium excluding the offshore platform in Morocco) accounted for 21% of Group turnover prior to the integration, from 1 April, of the new entity in the United Kingdom. This percentage does not factor in the increasing share of global deployments executed from France on behalf of companies such as Nespresso, L’Oréal or Seb.

Positive performance indicators and yearly targets confirmed

The first quarter of 2016 saw SQLI confirm its capacity to combine growth with operational performance. At the end of March, the Group's headcount amounted to 1,915 employees (excluding trainees) compared with 1,875 at the end of 2015 for an employment rate of 84.6% over the period (84.5% in 2015).

Against this backdrop, SQLI has confirmed its target of a yearly double-digit increase in turnover which is expected to gather pace as of the second quarter of 2016. Today, the Group has a solid order book to underpin the acceleration in organic growth.

The Group also anticipates a current operating margin of at least 8% between now and the end of the year.Looking beyond another year of profitable growth, SQLI will present its new 2020 strategic plan outlining the Group's ambitions and vision for the future in June.

SQLI will publish its turnover for the first half of 2016 on 28 July after the close of trading.