FY 2006-2007 Annual Results

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(1)Press Release Boulogne Billancourt - November 21, 2007. FY 2006-2007 Annual Results 12% CORE REVENUES GROWTH FY 2006-2007 CURRENT OPERATING MARGIN UP 140% FY 2006-7 EBIT UP 30%. Positive cash flow generation Sustained profitable growth A NOVO (FR0004152593 – NOV), the leading pan-European provider of after sales and customization services for digital technologies, announced its consolidated results for the fiscal year ended September 30, 2007. Income statement. € million. 2005-2006. 2006-2007. 293.8. 322.9. 4.0. 9.5. 1.4%. 3.0%. Non-recurring items. 2.2. - 1.0. EBIT. 6.2. 8.1. 2.1%. 2.5%. Financial Interest. - 4.7. - 5.8. Taxes and duties. - 0.9. - 0.5. Consolidated net income. 0.6. 1.8. -. - 0.2. 0.6. 1.6. Net revenues Current Operating Margin % Revenues. % Revenues. Losses from equity affiliates Net income. As announced on last November 13, 2006-7 revenues came to € 322.9 million, up 10.0% from the previous fiscal year. FY 2006-7 like-for-like revenues rose 10% overall and 12% for the core business from FY 2005-6. Thus, FY 2006-7 saw more momentum in the core business, where revenues rose 8.0% in FY 2005-6. All of the group's businesses contributed positively to higher revenues in FY 2006-7. The number of customers continues to increase consisting of large clients who rank among the leaders in their industry. Indeed, ANOVO’s 15 largest customers accounted for over 65% of revenues in FY 2006-7 which is significantly higher than the previous years.. 1/5. WorldReginfo - b106a20e-58b5-487e-9980-f166fea02c07. Consolidated figures - IFRS.

(2) Current operating margin up 140% € million MOBILITY Net revenues Current operating margin % of revenues ACCESS Net revenues Current operating margin % of revenues DISPLAYS Net revenues Current operating margin % of revenues TOTAL Net revenues Current operating margin % of revenues NON-CORE BUSINESS Net revenues Current operating margin % of revenues TOTAL Net revenues Current operating margin % of revenues. 2004-2005. 2005-2006. 2006-2007. 124.6 1.6 1.3%. 142.5 0.9 0.6%. 158.0 4.1 2.6%. 100.3 11.8 11.8%. 103.0 12.4 12.1%. 115.3 9.8 8.5%. 33.3 -3.7 -11.1%. 35.1 -7.0 -19.9%. 43.5 -2.7 -6.2%. 258.2 9.7 3.8%. 280.6 6.4 2.3%. 316.8 11.2 3.5%. 23.1 -5.7 -24.7%. 13.2 -2.4 -18.2%. 6.1 -1.7 -27.9%. 281.3 4.0 1.4%. 293.8 4.0 1.3%. 322.9 9.5 3.0%. Current operating margin surged 140% to € 9.5 million (3% of revenues), boosted by growth for all businesses combined. This marks the end of the restructuring in Malaga, Spain and the completion of recovery plan at the Västeras plant in Sweden. The Mobility business made the biggest contribution to increased current operating margin while margins in the Access business stabilized in the second half. The Displays business cut its losses in half and will return to profitability over the coming fiscal year. In addition, stricter controls cut G & A’s costs by 8% from the previous year. EBIT up 30% As forecast, the EBIT for FY 2006-7 was impacted by € 1.4 million in non-recurring charges whereas net nonrecurring items contributed € 2.2 million to earnings the year before.. Consolidated net income of € 1.8 million The group reported consolidated net income of € 1.8 million despite high financial costs due to the sharp rise in interest rates (EUROBOR), which increased net financial costs.. Continued debt repayment Despite continued capital expenditure of € 12.1 million in 2005-6 and € 10.9 million in 2006-7 to implement the group's strategy in Europe, ANOVO pursued its objective of paying down debt, thereby lowering the debt to equity ratio to 1.1 as compared with 1.2 at September 30, 2006 and 1.4x at September 30, 2005. Shareholders’ equity stood at € 61 million with net debt of € 68.7 million versus € 73.2 million at September 30, 2006 and € 72 million at September 30, 2005.. 2/5. WorldReginfo - b106a20e-58b5-487e-9980-f166fea02c07. Consequently, the EBIT rose 30% to € 8.1 million for an EBIT of 2.5% of revenues as opposed to 2.1% the previous year..

(3) Operating cash flow generation ANOVO significantly improved operating cash flow over the year despite a still high level of capital spending due to growth in new business. Operating cash flow remained positive over the period at € 5 million. In particular, the WCR has decreased by 4.7 M€, in a growth context, to a total of 20 M€.. Outlook As a conclusion, Richard Seurat, Chairman and CEO, comments “the transformation of our product range offerings towards higher added-value services for major operators, retailers and manufacturers, who are increasingly outsourcing their after-sale services, should sustain our profitable growth momentum and allow to double our current operating margin on a 3-year horizon”. Information Some of the data in this release comes from projections concerning future events or results, in particular those concerning the results of the year 2006/2007 after restatement in accordance with International Financial Reporting Standards (IFRS). This data is subject to a certain number of risks or factors which could affect actual results in an important way in comparison to those projected. These variation factors include market development, competition, customer demand for our services, technological development (which can make our services obsolete or unsuitable), the availability of financing, our capacity to increase our industrial platforms, to manage our growth and the changes, the general market and economic conditions. The projections are necessarily based on assumptions, estimates and data which are uncertain. No guarantee can be given that actual results will reflect estimates and future performance can vary greatly in comparison with predicted results.. About ANOVO, the leading European provider of maintenance and customization services for digital technologies (www.a-novo.com) With sales revenues of €323 million and 5,200 employees, ANOVO is the leading European provider of maintenance and customization services for the digital technologies used by major telecommunications and multimedia companies to deliver triple play (voice/data/image) solutions. ANOVO runs over 16 American and European Centers of Excellence, and handles high volumes of products with an acknowledged level of quality.. Section C of the Eurolist by EuronextTM Paris - ISIN: FR0004152593 (equity shares), FR0000181174 ( OCEANE convertible bonds), FR0000341174 (equity warrants) Bloomberg Code: NOVO FP, Reuters Code: ANOV.LN. **** Annual Shareholders’ Meeting January 17, 2008 (after close of trading). 3/5. WorldReginfo - b106a20e-58b5-487e-9980-f166fea02c07. ANOVO Corporate Finance François Lefebvre Chief Financial Officer Tel.: + 33 (0)1 58 17 00 81 [email protected].

(4) Annex: For information purposes, the results are stated below based on the former presentation:. Multimedia. 2005-2006 Revenues 121.8. EBIT 5.3. 2006-2007 Revenues 141.1. EBIT 6.8. North. 51.1. (1.3). 60.2. 0,1. South. 70.7. 6.6. 80.9. 6.7. Telecommunications. 161.4. 1.4. 175.7. 4.5. North. 103.8. 1.8. 113.1. 2.0. South. 57.6. (0,4). 62.6. 2,5. Non Core (Malaga assembly). 10.6. (2,7). 6.1. (1,7). 293.8. 4.0. 322.9. 9.5. Total. Consolidated net income 09/2007. 09/2006. (in M€) Revenue. 322,9. 293,8. Current operating margin. 9,5. 4,0. Operating income. 8,1. 6,2. Financial income. (5,8). (4,7). Income tax. (0,5). (0,9). Net income before share of profit of associates Net income from companies consolidated under equity method Net income of the period Minority interests Net income - group share. 1,8. 0,6. (0,2). 0,0. 1,6. 0,6. (0,0). 0,1. 1,6. 0,5. 09/2007. 09/2006. Goodwill. 64,0. 64,6. Other non current assets. 53,9. 49,6. Inventories. 16,5. 16,2. Current assets. 79,9. 84,8. Cash. 14,7. 13,7. Assets (in M€). Discontinued operations - assets. 3,4. 4,7. 232,4. 233,6. 0,0. 0,0. 09/2007. 09/2006. 61,4. 60,5. 0,3. 0,4. Restructured financial debt. 51,4. 59,0. Non current liabilities. 19,1. 22,4. Total assets. Liabilities (in M€) Group shareholder's equity Minority interests. Current liabilities. 100,2. 91,3. Total liabilities. 232,4. 233,6. 4/5. WorldReginfo - b106a20e-58b5-487e-9980-f166fea02c07. Consolidated balance sheet.

(5) (in M€) Cash from operations Net cash from operating activities Cash flow allocated to investment Cash flow allocated to financing Net cash flow Closing cash situation Opening cash situation Net cash flow. 09/2007. 09/2006. 13,2 15,7 (7,1) (7,8) 0,7 14,4 13,7 0,7. 10,7 3,3 1,4 (6,0) (1,3) 13,7 15,0 (1,3). 5/5. WorldReginfo - b106a20e-58b5-487e-9980-f166fea02c07. Consolidated cash flow statement.

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