Sword Group Se · EURONEXT:SWP
Sword — FY2003 Earnings Presentation
26 slides from Sword's earnings presentation, 2004
Slide 1: 2003 Financial Year Presentation
UPGRADE YOUR BUSINESS 2003 FINANCIAL YEAR PRESENTATION Page 1 2003 Financial Year Presentation
Slide 2: Upgrade Your Business
UPGRADE YOUR BUSINESS 1. about SWORD Group 2. specificity 3. clients 4. accounts 5. outlook 6. shareholding 7. schedule Page 2 2003 Financial Year Presentation
Slide 3: 1. About SWORD Group
1. about SWORD Group Chairman and Founder: Jacques MOTTARD 683 employees as of 31/12/2003 Listed on Euronext Paris New Market since 13/03/2002 Segment Next Economy ISIN Code: FR0004180578 FTSE sector: 972 – IT services SBF 250 Page 3 2003 Financial Year Presentation
Slide 4: 2. Specificity: specialist, international, industrial, leader (1)
2. specificity specialist - international - industrial - leader (1) CONSULTING Organisation Change Management ENTREPRISE CONTENT MANAGEMENT Electronic Document Management Geographical Information Systems Business Intelligence Web Content Management SECURITY Anti-money laundering Secure transfers Pag
Slide 5: 2. Specificity: breakdown of sales by niches
2. specificity specialist - international - industrial - leader (2) > Breakdown of sales by niches Base: € 66m ECM 79 % Consulting 17 % Security 4 % Page 5 2003 Financial Year Presentation
Slide 6: 2. Specificity: active in more than 30 countries
2. specificity specialist - international - industrial - leader (3) > Active in more than 30 countries > 33 nationalities in the staff > Subsidiaries in 8 countries South Africa/Belgium/France/Greece/Luxembourg/Switzerland/UK/US > Cross fertilisation Page 6 2003 Financial Year Presentation
Slide 7: 2. Specificity: breakdown of sales by country
2. specificity specialist - international - industrial - leader (4) > Breakdown of sales (invoicing) by country Base: € 66 m Others 16% Luxembourg 15% UK 13% Belgium 23% US 11% France 22% Page 7 2003 Financial Year Presentation
Slide 8: 2. Specificity: software components and delivery
2. specificity specialist - international - industrial - leader (5) > Software components - Straight-Through Processing - Security and transfers - Electronic Document Management/Trademarks and Patents - Geographical Information Systems - WAI > Knowledge capitalisation > Fixed-price projects > Off-sh
Slide 9: 2. Specificity: technological leader
2. specificity specialist - international - industrial - leader (6) > technological leader > Change Management - Change Management for major international projects > Electronic Document Management - Filenet in France - Documentum in UK - Trademarks and Patent Offices > Geographical Information Syste
Slide 10: 2. Specificity: leader with respect to the market
2. specificity specialist - international - industrial - leader (7) > leader with respect to the market > International Organisations (ONU, European Institutions) > Trademarks and Patents (see clients list) > Banks (see clients list) > Agricultural market sector Page 10 2003 Financial Year Presentat
Slide 11: 3. Clients (1): EDM / trademarks and patents
3. clients (1) > EDM / trademarks and patents National organisations Italy Singapore South Africa Latvia Slovakia Brunei Lithuania Slovenia BulgariaMalaysia Sweden Egypt Morocco Switzerland Estonia Norway Thailand France Paraguay International organisations Hong Kong Netherlands OHIM Indonesia The P
Slide 12: 3. Clients (2): STP / filtering
3. clients (2) > STP / filtering South Africa USA (cont.) UK (cont.) SC Merchant Bank DZ Bank (NY) Fleet Boston Financial Canada HSBC Equator (CT) Luxembourg Caisse Centrale Desjardins Natexis BP (NY) EFG Banque Laurentienne du Canada Sumitomo Banking Trust (NY) Banque et Caisse de L’Etat Banque Nat
Slide 13: 3. Clients (3): top ten
3. clients (3) > top ten Becton Dickinson EDF - GDF BNP Paribas Eurostat Cegetel Exxon Mobil DG AGRI (EU) Royal Sun Alliance DG TAXUD (EU) DG PRESSE (EU) The ten largest clients account for 38 % of the sales The largest client account for 8 % of the sales Page 13 2003 Financial Year Presentation
Slide 14: 3. Clients (4): sales breakdown by client type
3. clients (4) > sales breakdown by client type Base: 66M€ Energy, Environnement, Services International 26 % organisations 46 % Manufacturing / Pharma 14 % Banking & Insurance 14 % Page 14 2003 Financial Year Presentation
Slide 15: 4. Accounts (1): sales
4. accounts (1) > sales 92,6 Acquisition 72,6 66,2 A-1 perimeter 55,0 47,8 29,5 25,4 €m 15,3 10 2000 2001 2002 2003 2004 Page 15 2003 Financial Year Presentation
Slide 16: 4. Accounts (2)
4. accounts (2) 2004 Growth a) 2003 perimeter out of acquisitions 2003 2004 Expansion Sales 54 942 61 535 + 12 % Operating profit 8 837 (16 %) 9 890 (16 %) + 12 % b) Impact of acquisitions of 2003 (full year) 2003 2004 Expansion Sales 11 074 11 074 0% Operating profit 578 (5 %) 1 780 (16 %) + 308
Slide 17: 4. Accounts (3): growth
4. accounts (3) > growth €k Sales Operating margin 2001 organic growth 15 350 17,10 % 2001 pro-forma 25 418 14,30 % 2002 organic growth 29 551 16,55 % 2002 pro-forma 47 815 12,88 % 2003 organic growth 54 942 16,10 % 2003 pro-forma 66 016 14,26 % 2004 organic growth 72 609 16,00 % Page 17 2003 Financ
Slide 18: 4. Accounts (4): 2003 pro forma income statement
4. accounts (4) > 2003 pro forma Income Statement (summary) €k pro-forma pro-forma variation 2003 2002 Sales 66 016 47 815 +38% Operating profit 9 415 6 159 +53% Consolidated net profit 5 228 3 911 +34% Net attributable profit 5 030 3 780 +33% Page 18 2003 Financial Year Presentation
Slide 19: 4. Accounts (5): 2003 consolidated income statement
4. accounts (5) > 2003 Consolidated income statement (in brief) €k Sales % Sales 55 544 100,0% Operating profit 8 920 16,10% Consolidated net profit 5 091 9,16% Net attributable profit 4 893 8,81% Page 19 2003 Financial Year Presentation
Slide 20: 4. Accounts (6): organic growth perimeter income statement
4. accounts (6) > Income Statement of the organic growth 31/12/2003 perimeter €K Sales % Organic growth/2002 Sales 54 942 100,00% + 14,90% Operating profit 8 837 16,10% + 43,50% Consolidated net profit 5 007 9,10% + 28,00% Net attributable profit 4 809 8,80% + 27,20% Page 20 2003 Financial Year Pres
Slide 21: 4. 2003 Income Statement (detail)
4. 2003 Income Statement (detail) (7) (€K) INCOME STATEMENT CURRENT YEAR 31/12/2003 Turnover 55 544 Cost of sales 33 882 GROSS PROFIT 21 662 Other Operating Expenses 12 538 Depreciation 204 OPERATING PROFIT 8 920 NET INTEREST PAYABLE 504 PROFIT BEFORE TAXATION 8 417 Amortization 114 Earnings per sha
Slide 22: 4. Balance sheet at December 31, 2003
4. Balance sheet at december 31,2003 (8) (€K) BALANCE SHEET CURRENT YEAR 31/12/2003 Treasury stock 774 Cash 6 788 Accounts Receivable (net) 17 745 Other Current Assets 2 921 TOTAL CURRENT ASSETS 28 228 Tangible Assets 1 194 Intangible Assets 35 448 Other Long-term Assets 299 TOTAL FIXED ASSETS 36 94
Slide 23: 5. Outlook (1)
5. outlook (1) > well positioned to keep profitability - sales backlog > 8 months - Leader in successful, state-of-the-art technologies - Present in recovering / expanding markets - In geographical terms (US, UK) - In business sector terms (European Communities) > 2004 forecast - Sales: € 72.6 m (or
Slide 24: 5. Outlook (2): earnings per share
5. outlook (2) > Earnings per share - 2002 2,97 € - 2003 without acquisition 3,97 € pro-forma 4,29 € - 2004 without acquisition 5,30 € (budget) Page 24 2003 Financial Year Presentation
Slide 25: 6. Shareholding
6. Shareholding > shareholding breakdown Public 37,3 % FCPR 21 Développement 32,7 % J. Mottard 30 % dividend € 0.90 per share (+ 20 %) Payout ratio: 22 % Page 25 2003 Financial Year Presentation
Slide 26: 7. Schedule
7. schedule PUBLICATIONS: 08/04/04 : First-quarter 2004 sales 08/07/04 : Second-quarter 2004 sales 08/09/04 : First-semester 2004 accounts 12/10/04 : Third-quarter 2004 sales 13/01/05 : Forth-quarter 2004 sales 08/03/05 : 2004 annual accounts Other events: 09/09/04 : 2004 first semester presentation