- Operating margin up 200 basis points
Full-year guidance increased
Three acquisitions to reinforce SMACS offers and two disposals of noncore assets
Devoteam (Euronext Paris: DVT) reported revenues of €275.4 million for the first half of 2016, a 17.0% increase compared to the first half of 2015, excluding changes in currency and scope.
The operating margin stood at €22.7 million, representing 8.2% of the revenue, or 200
basis points above the margin rate achieved for the first half of 2015.
Based on these good results, the Group stepped up the implementation of its innovation strategy, with the purchase of three companies specialized in Digital Transformation consulting and on the Cloud Technology (SAP Hana, Cherwell and ServiceNow). In addition, the Group implemented the following key internal initiatives:
- A position of Strategy and Innovation Director was created with the objective of developing the SMACS portfolio;
- Devoteam enabled key managers (excluding the Executive Board) to invest in the start-up ventures of the Group, enabling them to become a primary sponsor of the transformation and to support the growth of these innovative initiatives;
- Finally, an investment fund was launched with a financial partner to acquire minority interests in technology start-ups. The Group will invest a maximum of €3 million. The first investment was made around the solutions recommended by Google and represents an amount of €450,000 for Devoteam.