1st quarter 2018 revenues: €68.1m
1st quarter 2018 revenues: €68.1m
Q1 organic growth*: +10.6%
The Keyrus Group recorded revenues of 68.1 million euros in the first quarter of 2018, an increase of 9.1% as compared with the first quarter of 2017. At constant structure and exchange rates, the growth was 10.6%, driven by Large Account activities.
This sustained organic growth, which has been ongoing for several years now, is the result of Keyrus's innovative and constantly renewed positioning around its core business: Data, the strategic linchpin of companies' digital transformation. In addition, further structural investments will be undertaken at the Corporate level, so as to equip the Group with a solid and durable organization to support all its entities, both in France and internationally, in achieving the Keyrus 2020 Strategic Plan.
Large Account activities grew by 11.8% in comparison with the first quarter of 2017 (+13.8% at constant structure and exchange rates), with a good momentum seen across all the Group's geographical regions.
Mid-Market activities saw their revenues come in at 14.1 million euros, which was virtually unchanged as compared with the first quarter of 2017 at constant structure and exchange rates. The first quarter of 2017 had witnessed exceptional growth, which at the time was still supported by work related to the new DSN (Nominative Social Declaration/Déclaration Sociale Nominative) regulations, and that work has now finished.
Nevertheless, these activities remain promising for the 2018 financial year, during which Absys Cyborg will be significantly bolstering its investments around Cloud solutions, supporting the strategy of its partners Sage and Microsoft.
Going forward in this financial year, Eric Cohen, President and CEO, comments:
"2018 will be a year for consolidating our business lines and offerings around the new challenges posed by the Data-Digital. It will see the development of targeted technological and business partnerships and fast-track, vertical solutions opening up the possibilities of Artificial Intelligence and other technologies of the future for our clients.
We will go on spreading innovation at the heart of enterprises, furthering our leadership in Data and Digital, and strengthening our dominant positions in these fields, both in France and abroad, to pursue and accelerate our growth, as well as our ability to sustain Keyrus's performance over the long term."
Keyrus will hold its Annual General Meeting on 22 May 2018 and publish its second quarter revenues on 26 July 2018 after market close.
Breakdown of revenues by operational sector
* DEFINITION OF THE NOTION OF ORGANIC GROWTH IN REVENUES
The notion of organic growth in revenues involves presenting the revenues of the preceding year (N-1, in this case, the 2017 financial year) adjusted in such a way as to apply the exchange rates and scope of consolidation of the current year (N, in this case, the 2018 financial year). The Group thus calculates N-1 revenues by:
- using the exchange rates of year N to calculate the reported revenues of companies outside the Eurozone in year N-1
- adding to the reported revenues for year N-1 the N-1 revenues of companies that came within the scope of consolidation in year N
- deducting from the reported revenues for year N-1 the N-1 revenues of companies that went out of the scope of consolidation in year N
In 2018, the adjustments to go from reported 2017 revenues to organic 2017 revenues look as follows:
** IFRS 15
The IFRS 15 revenue recognition standard came into effect on 1st January 2018. Unless otherwise specified, 2017 revenues indicated in this press release have been adjusted so as to be in accordance with the application of the IFRS 15 standard and comparable with 2018 revenues in terms of accounting methods.