FY 2013-2014 press release

27 May 2014

Results for the year ended 31 March 2014

  • 4,2% year-over-year turnover growth with 5,5% turnover growth in Business Solutions, 12,5% growth in Infrastructure Products and break-even in Professional Services
  • €11,6m REBIT (4,7% margin)
  • €1,3m goodwill impairment related to the announcement of exclusive negotiations started with a French IT Services company to take over our French operations
  • Robust balance sheet structure with net cash situation (negative net debt)

Marc De Keersmaecker, General Manager of RealDolmen, commented:
“I am satisfied with our results, even if we strive for additional improvements. We achieved a decent turnover growth in a difficult market with overall REBIT margins back at historical levels. Our applications and infrastructure services business demonstrated good profitability, although growth was still slightly under pressure. These businesses progressed well in the delivery of high-end technical services to our clients. Our products business demonstrated strong growth, especially in the light of the long term decline of this lower margin market. The strategic shift of our Business Solutions division is slower than expected, showing growth but not yet demonstrating positive REBIT margin. Improvement also in this part of the business should follow soon.

We have just announced that we entered in exclusive negotiations with a French IT Services company to transfer our Airial operations. This move is inspired by our intention to offer the best future to the employees and clients of our French business on a market and with offerings dominated by scale. Such offerings and market are strategically different from the single source offering to the local mid-market RealDolmen focusses on.

This year we have been ranked n°1 for Applications Development and Maintenance and Datacenter Outsourcing among all IT outsourcing companies in Belgium and Luxemburg as demonstrated by the Whitelane outsourcing client survey. Over 5 years we have consistently been in the top 3 of the survey.

Sustainable client satisfaction and employee satisfaction are the two pillars on which we want to build our continued success. For next year, we plan to grow our business at a pace faster than the market with REBIT margins around mid-single digit levels. We continue to invest in moving higher in the value chain while positioning ourselves as an employer of choice for our 1500 IT professionals.”

For full details see attached press release in PDF.