{"id":151435,"date":"2020-05-20T11:41:03","date_gmt":"2020-05-20T09:41:03","guid":{"rendered":"https:\/\/www.devoteam.com\/news-and-pr\/q1-2020-financial-results-of-devoteam-group\/"},"modified":"2024-11-22T16:15:43","modified_gmt":"2024-11-22T15:15:43","slug":"q1-2020-financial-results-of-devoteam-group","status":"publish","type":"news-and-pr","link":"https:\/\/devoteam.info\/be\/news-and-pr\/q1-2020-financial-results-of-devoteam-group\/","title":{"rendered":"Q1 2020 financial results of Devoteam Group"},"content":{"rendered":"<h1>Q1 2020 revenue grew 8.9% organically to \u20ac207 million<\/h1>\n<ul>\n<li><strong>Revenue expected to decline by 5% to 7% in Q2 2020 compared to Q2 2019<\/strong><\/li>\n<li><strong>Business activity in the second half of the year should remain severely disrupted<\/strong><\/li>\n<li><strong>\u00a0<\/strong><strong>Devoteam awarded EMEA \u201cReseller Partner of the Year\u201d by Google Cloud<\/strong><\/li>\n<\/ul>\n<h3><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/devoteam.info\/wp-content\/uploads\/2024\/11\/Revenue-devoteam-q1-2020-300x117.png\" alt=\"\" width=\"550\" height=\"214\" class=\"aligncenter wp-image-17892\" \/><\/h3>\n<h2><strong>Q1 2020 revenue<\/strong><\/h2>\n<p>Devoteam (Euronext Paris: DVT) reported revenue of \u20ac207 million for the first quarter of 2020, growing at 9.7% of which 8.9% organically compared to the first quarter of 2019. The working day impact over the quarter was favorable by +0.9 day, representing around 1.5 point of growth.<\/p>\n<p>The first quarter of 2020 was in line with the previous quarter\u2019s performance, with solid growth momentum in all regions of the Group except for Central Europe, due to the reorganisation of activities in Germany realised at the end of 2019.<\/p>\n<p>On 31 March 2020, the Group employed 7,658 professionals, including 85.8% billable employees. This ratio was stable compared to 31 December 2019.<\/p>\n<p>In the first quarter of 2020, there were 96 net recruitments, mainly in the Northern Europe &amp; Benelux and Iberia &amp; Latam regions, despite an attrition rate of 31.6%. The utilization of internal resources stood at 82.3%, negatively impacted by the lockdown since mid-March.<\/p>\n<h2><strong>Q2 2020 revenue<\/strong><\/h2>\n<p>The Group forecasts a 5% to 7% decrease in revenue over the second quarter of 2020 compared to the same period last year. France, Germany and the Netherlands will be the countries most impacted with a drop in revenue between 10% and 15%. At this stage, the other regions are not experiencing significant declines in their activities.<\/p>\n<p>The most impacted industries are aerospace, non-financial services and the automotive.<\/p>\n<p>During the second quarter of 2020, the headcount is expected to decrease by about 150 employees. The utilization rate is down by 5 to 7 points and the Group does not foresee an improvement before the fourth quarter.<\/p>\n<p>Since the beginning of the health crisis, the Group has resorted to short-time work plans in several countries, mitigating the economic impacts on its activities.<\/p>\n<p>The operating margin for the first half of 2020 is expected to be above 6%.<\/p>\n<p>The restructuring costs should amount to circa 0.7% of the revenue in the first half of 2020.<\/p>\n<h2><strong>2020 outlook<\/strong><\/h2>\n<p>At this stage and given the context, the Group faces a significant drop in the volume of unweighted commercial opportunities in France and Germany, as well as a prolonged suspension of projects during the summer holidays. Therefore, the third quarter activity should remain severely disrupted.<\/p>\n<p>In addition, the banking sector, which accounts for more than 20% of the Group\u2019s activities, remains at risk for France, Iberia &amp; Latam and Luxembourg. The Group\u2019s activities in the Middle East could also be impacted by the fall in oil prices.<\/p>\n<p>As a consequence, given the current low visibility, Devoteam is not in a position to disclose annual objectives and will only communicate on a quarterly basis for 2020.<\/p>\n<h2><strong>Financial structure<\/strong><\/h2>\n<p>The Group keeps a healthy financial position with a net cash of \u20ac70.6 million at the end of April, added to \u20ac105 million in undrawn credit lines.<\/p>\n<h2><strong>Business<\/strong><\/h2>\n<p><strong>In April 2020, Google Cloud awarded Devoteam the title of EMEA \u201cReseller Partner of the Year 2019\u201d<\/strong><\/p>\n<p>Devoteam has been rewarded for its achievements in the Google Cloud ecosystem, helping its customers drive their digital transformation towards the Cloud and make their workspaces mobile, collaborative and digital.<\/p>\n<p><strong>Certification plan<\/strong><\/p>\n<p>Devoteam continues to accelerate its certification plan during the lockdown period and aims to obtain more than 3,000 certifications by the end of the year on its strategic partners\u2019 technologies (ServiceNow, Google, AWS, Microsoft, Salesforce), including around 300 on Kubernetes.<\/p>\n<p><strong>Covid-19: Devoteam\u2019s data scientists<\/strong><span>\u00a0<\/span>have published a study based on the AI modeling of Covid-19 pandemic mortality in<span>\u00a0<\/span><a href=\"https:\/\/devoteam.info\/newsroom\/covid-19-according-to-ia-model-by-devoteam-data-scientists-800000-lives-saved-with-the-total-lockdown-34000-estimated-deaths-with-a-lockdown-only-for-people-at-risk\/\">France<\/a><span>\u00a0<\/span>and<span>\u00a0<\/span><a href=\"https:\/\/devoteam.info\/newsroom\/covid-19-ai-model-by-devoteam-highlights-the-efficiency-of-large-scale-covid-testing-strategy\/\">Germany<\/a>.<\/p>\n<h2><strong>Financial calendar<\/strong><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/devoteam.info\/wp-content\/uploads\/2024\/11\/Devoteam-financial-calendar-300x63.png\" alt=\"\" width=\"550\" height=\"115\" class=\"aligncenter wp-image-17893\" \/><\/p>\n<div class=\"row-more clearfix\"><a href=\"https:\/\/devoteam.info\/wp-content\/uploads\/sites\/3\/2020\/05\/Devoteam-Press-Release-Q1-2020.pdf\" class=\"bt-more\">Read full press release<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Q1 2020 revenue grew 8.9% organically to \u20ac207 million Revenue expected to decline by 5% to 7% in Q2 2020 compared to Q2 2019 Business activity in the second half of the year should remain severely disrupted \u00a0Devoteam awarded EMEA \u201cReseller Partner of the Year\u201d by Google Cloud Q1 2020 revenue Devoteam (Euronext Paris: DVT) [&hellip;]<\/p>\n","protected":false},"featured_media":147501,"template":"","categories":[],"tags":[],"industry":[],"class_list":["post-151435","news-and-pr","type-news-and-pr","status-publish","has-post-thumbnail","hentry"],"acf":[],"cards":"\n\t<div class=\"single-post-card\">\n\n\t\t<figure class=\"wp-block-post-featured-image\"><a href=\"https:\/\/devoteam.info\/be\/news-and-pr\/q1-2020-financial-results-of-devoteam-group\/\" target=\"_self\" ><img width=\"1920\" height=\"1280\" src=\"https:\/\/devoteam.info\/wp-content\/uploads\/2024\/11\/news-banner-scaled-1.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Q1 2020 financial results of Devoteam Group\" style=\"aspect-ratio:4\/3;width:100%;object-fit:cover;\" decoding=\"async\" loading=\"lazy\" srcset=\"https:\/\/devoteam.info\/wp-content\/uploads\/2024\/11\/news-banner-scaled-1.jpg 1920w, https:\/\/devoteam.info\/wp-content\/uploads\/2024\/11\/news-banner-scaled-1-300x200.jpg 300w, https:\/\/devoteam.info\/wp-content\/uploads\/2024\/11\/news-banner-scaled-1-1024x683.jpg 1024w, https:\/\/devoteam.info\/wp-content\/uploads\/2024\/11\/news-banner-scaled-1-768x512.jpg 768w, https:\/\/devoteam.info\/wp-content\/uploads\/2024\/11\/news-banner-scaled-1-1536x1024.jpg 1536w, https:\/\/devoteam.info\/wp-content\/uploads\/2024\/11\/news-banner-scaled-1-2048x1366.jpg 2048w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/a><\/figure>\n\n\t\t\n\t\t<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-43282307 wp-block-group-is-layout-flex\">\n\t<p style=\"font-style:normal;font-weight:700\" class=\"has-link-color wp-elements-1 wp-block-lp-post-type has-text-color has-primary-color has-small-font-size\">News<\/p>\n\n\t\t\n\t\t<h3 style=\"font-style:normal;font-weight:400\" class=\"wp-block-post-title has-base-font-size\"><a href=\"https:\/\/devoteam.info\/be\/news-and-pr\/q1-2020-financial-results-of-devoteam-group\/\" target=\"_self\" >Q1 2020 financial results of Devoteam Group<\/a><\/h3><\/div>\n\t\t\n\t<\/div>\n\n","yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.4 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Q1 2020 financial results of Devoteam Group | 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\/q1-2020-financial-results-of-devoteam-group\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Q1 2020 financial results of Devoteam Group\" \/>\n<meta property=\"og:description\" content=\"Q1 2020 revenue grew 8.9% organically to \u20ac207 million Revenue expected to decline by 5% to 7% in Q2 2020 compared to Q2 2019 Business activity in the second half of the year 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2020 revenue grew 8.9% organically to \u20ac207 million Revenue expected to decline by 5% to 7% in Q2 2020 compared to Q2 2019 Business activity in the second half of the year should remain severely disrupted \u00a0Devoteam awarded EMEA \u201cReseller Partner of the Year\u201d by Google Cloud Q1 2020 revenue Devoteam (Euronext Paris: DVT)&hellip;","_links":{"self":[{"href":"https:\/\/devoteam.info\/be\/wp-json\/wp\/v2\/news-and-pr\/151435","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/devoteam.info\/be\/wp-json\/wp\/v2\/news-and-pr"}],"about":[{"href":"https:\/\/devoteam.info\/be\/wp-json\/wp\/v2\/types\/news-and-pr"}],"version-history":[{"count":0,"href":"https:\/\/devoteam.info\/be\/wp-json\/wp\/v2\/news-and-pr\/151435\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/devoteam.info\/be\/wp-json\/wp\/v2\/media\/147501"}],"wp:attachment":[{"href":"https:\/\/devoteam.info\/be\/wp-json\/wp\/v2\/media?parent=151435"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/devoteam.info\/be\/wp-json\/wp\/v2\/categories?post=151435"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/devoteam.info\/be\/wp-json\/wp\/v2\/tags?post=151435"},{"taxonomy":"industry","embeddable":true,"href":"https:\/\/devoteam.info\/be\/wp-json\/wp\/v2\/industry?post=151435"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}