First-half 2006-07 results

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(1)AEDIAN. 1 sur 4. http://www.aedian.com/print.jsp?shortcut=commfinancier_uk&id=10.... Paris, le 28/02/07 Communiqué. First Half 2006-07 (July-December). First Half 2005-06 (July-December). 19.54. 19.28. 0.54. 0.31. 2.8 %. 1.6 %. 0.54. 0.21. 2.8 %. 1.2 %. Net financial items. (0.06). (0.09). Taxes. (0.20). (0.12). Attributable net income. 0.28. 0. EPS (in €). 0.17. 0.01. (Euros millions) Consolidated sales (already reported) Underlying operating income % of sales Operating income % of sales. Aedian is an IT consultancy and services company focused on the financial industry and the public sector. In the first half of fiscal 2006/2007 (July-December 2006) Aedian's operating income came to €0.54m, representing 2.8% of group revenues, versus 1.2% in the first half of the previous year.. Headcount: 400. This is in line with the scenario of improving profitability that should bring operating income before exceptional items to over 4% in the current 2006-2007 fiscal year (ending on 30 June 2007).. Eurolist C Services Informatiques Bloomberg SYS Reuter SYS.PA ISIN FR0004005924. § AEDIAN Jean-François Gautier Chairman of the Management Board [email protected] Frédéric Bourdon Secretary-General [email protected] ( 01 56 35 30 00 § CM-CIC Securities Financial communication Bruno Gaheri 01 45 96 79 22 ( [email protected] MP Conseil § Michelle Pilczer ( 01 47 10 94 94 [email protected]. Increased profitability in IT services (Aedian SI) In the half-year ending on 31 December 2006, Aedian SI’s operating margin rose to 7.1%, from 2.9% in the first half of 2005-06. The improvement was attributable to the following factors: - An average 2% rise in the rates we charge; A 4% increase in the average billable in-house and sub-contracted workforce, to leverage Aedian SI’s value added services model through higher volume. The inter-contract downtime remained stable at 7%, a level that can still be improved on. Consulting (Aedian Consulting) returns to profitability The operating income of the consultancy business came to 0.7% of sales during the half-year, versus a negative 2% in the first half of the previous fiscal year. The recovery was the result of fundamental developments that allowed: A 6% increase in average rates charged; An improvement in the inter-contract downtime of consultants, which fell to 13% during the last half-year, from 17% in the first half of the previous year. Furthermore, between the beginning and the end of the half-year the subsidiary halted the decline in the billable in-house and sub-contracted consultant headcount seen in the previous half-years.. WorldReginfo - c78a342a-9091-4cce-b3ca-bb6ed1e7a1a0. First-half 2006-07 results. 19/06/2007 14:22.

(2) AEDIAN. 2 sur 4. http://www.aedian.com/print.jsp?shortcut=commfinancier_uk&id=10.... Outlook confirmed The future growth of the company's profitability and reaching the 4% operating margin in FY06/07 will hinge on the same levers as those that produced results during the past half-year, i.e. improving the inter-contract downtime, increasing the billable workforce and the rates charged.. Half-year ending 31 Dec. 2006. Half-year ending 31 Dec. 2005. Fiscal year ending on 30 June 06. 6 months. 6 months. 12 months. Revenues. 19,540. 19,276. 40,764. Purchases. (2,300). (2,179). (4,737). Personnel. (14,274). (14,788). (30,585). (1,821). (1,665). (3,561). Taxes other than corporate tax. (530). (464). (1,002). Depreciation. (163). (255). (447). Net provisions. (54). 410. 511. Other operating income and expenses. 140. (22). (35). Operating income before exceptional items. 538. 313. 897. 0. (98). (13). 538. 214. 883. 14. 8. 12. (51). (66). (121). (37). (59). (109). (22). (28). (9). 0. 0. 0. (200). (118). (311). 279. 10. 454. 279. 10. 454. 0. 0. 0. External charges. Other operating income and costs Operating income Income from invested cash and equivalents Gross interest expense Net interest expense Other financial items Share of affiliates’ net income Corporate tax Net income - Group share - Minorities. WorldReginfo - c78a342a-9091-4cce-b3ca-bb6ed1e7a1a0. Consolidated Income Statements (In thousands of euros). 19/06/2007 14:22.

(3) AEDIAN. 3 sur 4. http://www.aedian.com/print.jsp?shortcut=commfinancier_uk&id=10.... 0.17. 0.01. 0.27. Earnings per share (in €). 0.17. 0.01. 0.27. - Group share. 0.00. 0.00. 0.00. 0.15. 0.01. 0.25. 0.15. 0.01. 0.25. 0.00. 0.00. 0.00. - Minorities Fully-diluted earnings per share (in €) - Group share - Minorities. Consolidated balance sheets (In thousands of euros). Goodwill Net fixed intangible assets Net fixed tangible assets. Deferred taxes NON-CURRENT ASSETS. 7,291. 7,265. 97. 76. 119. 486. 729. 607. 0. 0. 0. 936. 628. 644. 58. 0. 237. 10,788. 8,723. 8,872. 0. 0. 0. 10,429. 11,563. 11,802. 1,664. 1,555. 1,779. Inventory & work in progress Net trade receivables & related items Other current assets Current taxes Net cash & equivalents CURRENT ASSETS TOTAL ASSETS. SHAREHOLDERS' EQUITY & LIABILITIES. 30 June 2006. 9,211. Shareholdings in affiliates Other net financial investments. 31 Dec. 2005. 122. 581. 164. 3,962. 3,243. 4,187. 16,177. 16,941. 17,933. 26,965. 25,664. 26,805. 31 Dec. 2006. 31 Dec. 2005. 30 June 2006. Share capital. 1,183. 1,183. 1,183. Additional paid-in capital. 5,332. 5,331. 5,418. Reserves. 1,950. 1,839. 1,839. 279. 10. 454. 0. 0. 0. 8,945. 8,364. 8,895. Attributable net income Minorities SHAREHOLDERS' EQUITY. 0. 0. 0. 1,421. 1,976. 1,873. Deferred taxes. 0. 19. 0. Other non-current liabilities. 0. 0. 0. 1,421. 1,995. 1,873. 341. 270. 860. 865. 3,023. 3,727. Pensions and retirement compensation Long-term portion of debt. NON-CURRENT LIABILITIES Reserves for contingencies and charges. 196. Short-term share of debt. 898. Trade notes and accounts payable. 3,561. WorldReginfo - c78a342a-9091-4cce-b3ca-bb6ed1e7a1a0. 31 Dec. 2006. ASSETS. 19/06/2007 14:22.

(4) 4 sur 4. http://www.aedian.com/print.jsp?shortcut=commfinancier_uk&id=10.... Current short-term taxes Other current liabilities CURRENT LIABILITIESPassifs courants TOTAL SHAREHOLDERS' EQUITY & LIABILITIES. 0. 0. 0. 11,944. 11,082. 11,175. 16,599. 15,305. 16,037. 26,965. 25,664. 26,805. WorldReginfo - c78a342a-9091-4cce-b3ca-bb6ed1e7a1a0. AEDIAN. 19/06/2007 14:22.

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