1st quarter 2019 revenues: €74.1m
1st quarter 2019 revenues: €74.1m
Q1 organic growth*: +5.2%
The Keyrus Group recorded revenues of 74.1 million euros in the first quarter of 2019, an increase of 8.9% as compared with the first quarter of 2018. At constant scope and exchange rates, the increase was 5.2%, driven by both segments of activity.
Large Account activities grew by 5.4% in comparison with the first quarter of 2018 (+3.7% at constant scope and exchange rates), nevertheless with a marked slowdown - that had been forecast in the fourth quarter - on the French market, but a solid momentum in the rest of the Group’s territories.
For the entirety of the Group’s activities in France and internationally, Keyrus is gradually deploying new, ‘integrated’ offerings combining the full range of its Data, Digital and Transformation know-how.
These offerings, which bring together Keyrus’s areas of expertise in Artificial Intelligence, the Blockchain, Robotic Process Automation, Cybersecurity, etc. will meet the strategic challenges that the Group’s clients face around 4 major topics:
- Customer Experience
- Operational efficiency
- New Business Models & Ecosystems
- Securing of data & Assets
Mid-Market activities maintained a good pace of growth in the first quarter of 2019, with revenues of 17.2 million euros, an increase of 22.1% as compared with the first quarter of 2018, and representing organic growth of 10.2%. This sharp increase is due, on the one hand, to the incorporation, in 2019, of the Arcadie Group into the scope of activity, and on the other hand, to strong licence and maintenance revenues in this first quarter.
Moreover, the 2019 financial year should also be driven by revenue growth around the new offerings launched in 2018 – Cloud Managed Services, and Management Consulting in the areas of Finance and Cash Management with the Kyriba solution.
Going forward in this financial year, Eric Cohen, President & CEO, comments:
"2019 will be a year of transition for our Large Account activities in France, with the implementation of a new organization initiated at the start of the year and spearheaded by the new General Management. All our other territories should continue to grow at an equivalent pace to that of 2018, with an increasingly significant, positive impact being felt from client synergies and the mutualization of skill hubs and cross-country areas of expertise.
As stated on 2 April, the new financing taken out in December 2018 should enable us to accelerate our growth and profitability through targeted acquisitions in France and internationally."
Keyrus will hold its Annual General Meeting on 4 June 2019 and publish its second quarter revenues on 25 July 2019 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 2018 financial year) restated in such a way as to apply the exchange rates and scope of consolidation of the current year (N, in this case, the 2019 financial year). The Group then calculates a figure for organic 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 2019, the adjustments to go from reported 2018 revenues to organic 2018 revenues look as follows: