(AOF) – Solutions 30 presented degraded accounts for the first half due to the maturity of its historical markets, telecoms, in France. The company suffered a net loss, group share, of 12.3 million euros against a profit of 14.1 million euros a year earlier. The operating margin of the specialist in solutions for new technologies fell by 40.2% to 29.6 million euros, or 6.7% of revenues compared to 11.2% in the first half of 2021. increased by 0.7% to 444.3 million euros.
Gianbeppi Fortis, Chairman of the Management Board of Solutions 30 declared: “Performance in France is penalized by the arrival at maturity of our historical markets and by the delay in our growth drivers, in particular in the field of energy transition, due to tensions in the supply chain. We are therefore in the midst of operational transition. This is particularly true in the telecoms market, which has changed sharply after the peak in activity observed over the past two years. Our organization is adapting to this new situation and new customer requirements, which impacts all our processes and deteriorates our margins this financial year”.
The group has a net debt to Ebitda ratio of 1.3 and a net debt to equity ratio of 41.8%.
In the second half of 2022, Solutions 30 forecasts an acceleration in growth, which should continue to be driven by activities outside France. The expected turnover for the full year is around 900 million euros, compared to 874 million euros in 2021. In terms of profitability, the group should return at the end of the year to a level more ‘normative’ Ebitda at two figures, but this will remain below 10% over the whole of the financial year.
“In a volatile environment and rising rates, we are focusing on organic growth and controlling our cash flow. We have reached a low point and we anticipate a recovery in the last quarter which will be confirmed throughout 2023”, said said Gianbeppi Fortis.
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Maximum staff turnover
Companies in the IT services sector have seen the departure of more than 20% of their workforce in twelve months. This trend is not unusual in the sector, but it is reaching an unprecedented scale, in a context of strong growth and good recruitment dynamics. In addition, employees have new requirements and aspirations. The main criterion is the flexibility of work and the way it is implemented in the company. The American-Indian company Cognizant saw around 35% of its 330,000 engineers leave the company in one year. Capgemini, grouping 32,000 French employees, recently suffered its first strike since 2008, with a demand for a collective increase in remuneration.