Press Release

4th quarter 2017 revenues: €70.8m

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2017 consolidated revenues: €257.4m

Annual organic growth: +11.8%

4th quarter 2017 revenues: €70.8m

Q4 organic growth: +13.6%

The Keyrus Group recorded consolidated revenues of €257.4m as at 31 December 2017. As compared to revenues for the 2016 financial year, this represents an increase of 12.9% based on reported figures, and a rise of 11.8% at constant structure and exchange rates. This latest strong performance is the result of excellent levels of organic growth in our two business segments: Large Accounts and Mid-Market.

In the 4th quarter, consolidated revenues were €70.8m, an increase of 13.7% as compared with the 4th quarter of 2016 (+13.6% at constant structure and exchange rates).

Large Account activities increased by 16.3% in the 4th quarter of 2017 (+16.7% at constant structure and exchange rates) and by 14.3% for the full year 2017 (+13.3% at constant structure and exchange rates). This strong increase in Large Account activities over the whole of the 2017 financial year was due, notably, to double-digit organic growth in France, and a very dynamic market in the Americas, where Keyrus achieved organic growth of around 40% on average across all its countries of operation (United States, Canada, Brazil and Colombia).

Mid-Market activities showed an increase of 7.8% for the financial year, and 3.8% in the 4th quarter of 2017 as compared with the 4th quarter of 2016 (the increases in organic terms being 6.1% for the year and 2.4% in the 4th quarter). This strong growth was primarily driven by buoyant sales of services for the Sage FRP 1000, Sage® X3, and Microsoft Dynamics 365 solutions in the mid-sized company market.

The Group's Large Account and Mid-Market activities represented 80.0% and 20.0% respectively of the Group's consolidated revenues in 2017.

Eric Cohen, President & CEO, comments: "We delivered an excellent performance in 2017, with sustained organic growth in most of our geographical zones, and the swift development of new, increasingly cloud-based offerings in the areas of Analytics, Artificial Intelligence (AI), the Blockchain, and the IoT.

We are well into our project to strive for increasingly profitable growth between now and 2020. This project aims to make Keyrus a leading player internationally in the "data-driven" digital transformation of enterprises by leveraging innovation, our Group's DNA.

In the Mid-Market segment, the order book is broadly stable, which points towards the 2018 financial year being in line with the previous one. Absys Cyborg will be bolstering its investments in the area of Cloud solutions significantly, supporting the strategy of its partners Sage and Microsoft."

Keyrus will publish its 2017 annual results on 20 March 2018 after the market close.

Breakdown of revenues by operational

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