Q4 2017 Financial information

2017 revenue: €353.6 million

Q4 2017 revenue: €102.5 million

Growth of +18.8% in Q4 (+9.8% in organic terms)


Aubay Group finished 2017 with revenues of €353.6 million, up 8.4% (6.0% in organic terms) and outperforming the revised target of €353 million announced in September 2017 on the publication of its half yearly results.

Organic growth accelerated by a sharp 9.8% in the fourth quarter, a performance which is all the more remarkable given the lower number of working days in Southern European countries. Revenues exceeded the Group’s symbolic threshold of €100 million for the first time, coming it at €102.5 million for the quarter. The acceleration in organic growth was highest in France at 11.1%, and remained at a high 8.1% for the Group’s International operations. Aubay’s acquisition in Italy contributed €7.8 million to revenues in the final quarter of the year. Its integration is progressing smoothly and in line with the initial plan.

Aubay Group’s sales offering is particularly well-suited to its market. As a strategic partner to major corporate clients, the Group assists with their digital transformation and the overhaul of their IT strategies. Entrusted with new projects and winning over new names, Aubay continues to develop and broaden its Digital expertise (Digital Marketing, Big data, AgileIT, etc.) whilst guaranteeing the seamless management of its clients’ historical IT assets.

Annual organic growth for France and for Aubay’s International operations amounted to 4.7% and 7.6% respectively.

Aubay’s headcount amounted to 5,848 employees on 31 December 2017 as against 4,899 one year earlier. Excluding its acquisition in Italy, employee numbers increased by 136 people in the final quarter of 2017 alone. This excellent result was primarily linked to operations in France where employee numbers increased by 113 thanks to the concerted efforts made to recruit and retain staff. The Aubay brand is becoming increasingly attractive for sector consultants, taking the rate of activity for the Group’s engineers to 93.9% for the fourth quarter of 2017 as against a figure of 93.5% in 2016.

Profitability target achieved

Aubay has confirmed that, despite an unfavorable calendar in 2017 and the integration of acquisitions with lower margins than the normative margin, it expects to easily reach its operating margin target of between 9% and 10%. The Group is looking forward to a margin of close to 9.5% which is an excellent performance.


The market remains globally buoyant and uniform across the regions and sectors in which Aubay Group operates, and there has been a clear increase in tier-one client investments since the beginning of the year. Given the steady increase in employee numbers, the outlook for 2018 is very positive.

Aubay’s target revenues of €395 million in 2018 include a €22 million contribution from its acquisition in Italy and organic growth of between 5% and 7%.

The target figure for its current operating margin in 2018 will be announced on the publication of the Group’s definitive results on 15 March 2018 at the end of the trading day.

Aubay’s yearly results for 2017 will be published on 14 March 2018 at the end of the trading day.
For further information, visit the Finance section on the group website at www.aubay.com.

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