SQLI reported turnover of €48.6 million for the third quarter of 2017, up 10% on the same period in 2016 and 3% on an organic basis despite a 2-point negative calendar effect, taking total turnover for the first nine months of the year to €151.2 million (up 8% on the same period in 2016 and 5% on an organic basis)*.
All subsidiaries outside France, including recent acquisitions Osudio and Star Republic, performed well, winning over new clients and renewing existing contracts. Present in 10 countries across Europe, SQLI now has an engine for growth in its key strategic growth sectors – omnichannel commerce and the customer experience market – which deliver double-digit profitability.
In France, core strategic projects (omnichannel commerce, mobility, web solutions, social media and marketing) continued to drive growth, and turnover generated by large corporates continued to increase. SQLI is currently working on major projects for global brands such as Carlsberg, Japan Tobacco, Miele, Nestlé and L’Oréal, etc. The company has continued to develop its skills base and its offering to respond to client demand in connected commerce (agile methodology, connected objects and bots).
SQLI has confirmed its target of growth of more than 10% in turnover in 2017 as well as a sharp acceleration in profitability in the second half versus the first six months of the year. The outlook for the connected commerce market is extremely buoyant as investment by clients continues to grow.
The key initiatives of the Move Up 2020 plan (increase in activity in Northern Europe and ongoing shift in business towards omnichannel commerce and the client experience market in France) will have a significant impact on margins in 2018, and will remain in place until the plan's objectives are met, in particular that of an EBITDA margin of 12% and the maintaining of current growth levels.
SQLI will publish its turnover for 2017 on 8 February 2018 after the close of trading.
* Invent Commerce has been consolidated since 1 April 2016, Star Republic since 1 May 2017 and Osudio since 1 September 2017.