![\"Devoteam](\"https:\/\/devoteam.info\/wp-content\/uploads\/2024\/12\/news-devops-1.png\")
<\/a><\/figure>\n\n\t\t\n\t\t![](\"https:\/\/devoteam.info\/wp-content\/uploads\/2025\/01\/Screenshot-2020-09-08-at-17.44.48.png\")
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H1 2020 consolidated financial statements are available on our\u00a0<\/span>website<\/a>: https:\/\/devoteam.info\/investors\/financial-information\/<\/em><\/p>\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\u00a0<\/span>operating margin\u00a0<\/span><\/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\u00a0<\/span>operating result<\/strong>\u00a0<\/span>amounted 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\u00a0<\/span>financial result<\/strong>\u00a0<\/span>landed 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>\u00a0<\/span>totaled \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\u00a0<\/span>Group share of net income\u00a0<\/span><\/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\u00a0<\/span>net cash<\/strong>\u00a0<\/span>included 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.<\/p>\n \u2013 Revenue decreasing 2.4% in Q2 \u2013 Net income \u2013 Group share decreasing 7.1% in H1 \u2013 Founders 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: https:\/\/devoteam.info\/investors\/financial-information\/ Results for the first half of […]<\/p>\n","protected":false},"featured_media":350954,"template":"","categories":[],"tags":[],"industry":[],"class_list":["post-501082","news-and-pr","type-news-and-pr","status-publish","has-post-thumbnail","hentry"],"acf":[],"cards":"\n\tResults for the first half of 2020<\/strong><\/h2>\n
Revenue<\/strong>\u00a0<\/span>reached \u20ac387.2 million for the first half of 2020, growing 3.7% compared to the same period last year.<\/h3>\n
The full press release<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"\n\n\t\t<\/a><\/figure>\n\n\t\t\n\t\t