{"id":148939,"date":"2020-09-10T13:10:06","date_gmt":"2020-09-10T11:10:06","guid":{"rendered":"https:\/\/www.devoteam.com\/news-and-pr\/devoteam-achieved-revenue-of-e387-2-million-and-operating-margin-of-e35-8-million-in-the-first-half-of-2020\/"},"modified":"2024-11-22T15:54:37","modified_gmt":"2024-11-22T14:54:37","slug":"devoteam-achieved-revenue-of-e387-2-million-and-operating-margin-of-e35-8-million-in-the-first-half-of-2020","status":"publish","type":"news-and-pr","link":"https:\/\/devoteam.info\/be\/news-and-pr\/devoteam-achieved-revenue-of-e387-2-million-and-operating-margin-of-e35-8-million-in-the-first-half-of-2020\/","title":{"rendered":"Devoteam achieved revenue of \u20ac387.2 million and operating margin of \u20ac35.8 million in the first half of 2020"},"content":{"rendered":"

\u2013\u00a0Revenue decreasing 2.4% in Q2<\/strong><\/h2>\n

\u2013\u00a0Net income \u2013 Group share decreasing 7.1% in H1<\/strong><\/h2>\n

\u2013\u00a0Founders and reference shareholders announced a tender offer on Devoteam\u2019s shares on July 9 2020, at a price of \u20ac98 per share<\/strong><\/h2>\n

\"\"H1 2020 consolidated financial statements are available on our\u00a0website<\/a>.<\/em><\/p>\n

Results for the first half of 2020<\/strong><\/h2>\n

Revenue<\/strong>\u00a0reached \u20ac387.2 million for the first half of 2020, growing 3.7% compared to the same period last year.<\/h3>\n

Variations in exchange rates and perimeter were marginal. As a result, the organic growth rate also amounted to 3.7%, with a positive working day impact for around 1 point.<\/p>\n

During the second quarter of 2020, the Group generated revenue of \u20ac180.3 million, decreasing 2.4% compared to the second quarter of 2019, of which 1.7% organically.<\/p>\n

Supported by the COVID-19 short-time work measures, the\u00a0operating margin\u00a0<\/strong>stood at \u20ac35.8 million and 9.3% of the revenue during the first half of 2020. Considering the second quarter only, the operating margin represented 3.2% of the revenue, once restated of the short-time work mechanisms.<\/p>\n

The\u00a0operating result<\/strong>\u00a0amounted to \u20ac31.4 million, slightly lower than the first semester of 2019. It included restructuring costs of \u20ac0.6 million, mainly in Germany, the Netherlands and Norway, along with a \u20ac1.7 million impairment loss.<\/p>\n

The\u00a0financial result<\/strong>\u00a0landed at -\u20ac2.6 million. It included a \u20ac1.2 million foreign exchange loss, a \u20ac0.5 million interest expense on the bond issue, a \u20ac0.3 million cost related to the application of IFRS 16, and \u20ac0.2 million of short-term financing costs (confirmed lines of credit and factoring).<\/p>\n

Tax expenses<\/strong>\u00a0totaled \u20ac10.9 million, representing 36.4% of profit before tax, compared to 33.1% during the first half of 2019. Excluding non-taxable profits and other exceptional elements, the tax rate would have been 31.4% in the first half of 2020. The tax rate decreased compared to the same period last year, as a result of the fiscal measures deployed in France.<\/p>\n

The\u00a0Group share of net income\u00a0<\/strong>decreased 7.1% from \u20ac17.6 million in the first semester of 2019 to \u20ac16.4 million in the first semester of 2020.<\/p>\n

On 30 June 2020, the\u00a0net cash<\/strong>\u00a0included a positive impact from the payment deferral of tax and social charges for \u20ac20.5 million, following the government measures to support the economy during the COVID-19 crisis. Net cash also included a factor of \u20ac14.2 million. Restated from the deferred payments and the factor, net cash was \u20ac57.7 million.

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Read full press release<\/p>\n\n\n\n

Devoteam achieved revenue of \u20ac387.2 million andrnoperating margin of \u20ac35.8 million in the first half ofrn2020rn<\/p>\n<\/div>\n<\/div>\n\n\n\n

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Download<\/a><\/div>\n<\/div>\n<\/div>\n\n\t\n\t<\/div>\n\n","protected":false},"excerpt":{"rendered":"

\u2013\u00a0Revenue decreasing 2.4% in Q2 \u2013\u00a0Net income \u2013 Group share decreasing 7.1% in H1 \u2013\u00a0Founders and reference shareholders announced a tender offer on Devoteam\u2019s shares on July 9 2020, at a price of \u20ac98 per share H1 2020 consolidated financial statements are available on our\u00a0website. Results for the first half of 2020 Revenue\u00a0reached \u20ac387.2 million […]<\/p>\n","protected":false},"featured_media":147501,"template":"","categories":[],"tags":[],"industry":[],"class_list":["post-148939","news-and-pr","type-news-and-pr","status-publish","has-post-thumbnail","hentry"],"acf":[],"cards":"\n\t

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\"Devoteam<\/a><\/figure>\n\n\t\t\n\t\t
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Press release<\/p>\n\n\t\t\n\t\t

Devoteam achieved revenue of \u20ac387.2 million and operating margin of \u20ac35.8 million in the first half of 2020<\/a><\/h3><\/div>\n\t\t\n\t<\/div>\n\n","yoast_head":"\nDevoteam achieved revenue of \u20ac387.2 million and operating margin of \u20ac35.8 million in the first half of 2020 | Devoteam<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/devoteam.info\/be\/news-and-pr\/devoteam-achieved-revenue-of-e387-2-million-and-operating-margin-of-e35-8-million-in-the-first-half-of-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Devoteam achieved revenue of \u20ac387.2 million and operating margin of \u20ac35.8 million in the first half of 2020\" \/>\n<meta property=\"og:description\" content=\"\u2013\u00a0Revenue decreasing 2.4% in Q2 \u2013\u00a0Net income \u2013 Group share decreasing 7.1% in H1 \u2013\u00a0Founders and reference shareholders announced a tender offer on Devoteam\u2019s shares on July 9 2020, at a price of \u20ac98 per share H1 2020 consolidated financial statements are available on our\u00a0website. 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