CS first half 2007 revenues

Growth (organic) : +5.3%
Book-to-bill : x1.24

CS Group revenues reached €173.0 million in H1-2007, up 5.3% over H1-2006 at constant perimeter (5.8% at constant perimeter and exchange rates). Order intakes rose by 23%, leading to book-to-bill at 1.24x.

tableau test
Revenues (€ million) H1-2006 H1-2006 pro-forma* H1-2007 Variation 07/06*

Mission Critical Systems Division

104.4 100.5 110.5 +10.0%

Mission Critical Infrastructures Division

70.0 70.0 68.7 -1.7%


-6.3 -6.3 -6.2 NA


168.1 164.2 173.0 +5.3%


144.0 144.0 140.1 -2.7%


24.1 20.2 32.9 62.7%

tableau test
Order intakes (€ million) H1-2006 H1-2006 pro-forma* H1-2007 Variation 07/06* Book-to-bill H1-2007

Mission Critical Systems Division

98.4 95.5


+60.1% 1.38

Mission Critical Infrastructures Division

81.3 81.3


-19.2% 0.96


-2.3 -2.3



Order intakes

177.5 174.5 214.2 +22.7% 1.24
* S1 06 restated to take into account the disposal of CAM subsidiary, which was de-consolidated as of January 2007.

Mission Critical Systems Division year-on-year growth: + 10%

Mission Critical Systems Division revenues totaled € 110.5 million in H1-2007, a 10-percent increase at constant perimeter over H1-2006. Marketing and sales dynamics were especially strong with order intakes at € 153 million, up 60% over H1-2006. Book-to-bill reached 1.38x.
Revenues outside France increased by 60% to € 31 million, of which € 12.1 million in the Middle East area, and accounted for 28% of total Division revenues.

During H1-2007, CS has developed an intensive marketing and commercial activity worldwide, especially in the Defense & Security sectors. CS has been strengthening its positions significantly in the Middle-East region, further to the win in 1st quarter of a € 50 million contract to be completed over 3 years. CS is dedicated to build up its positioning as a major player in the field of C4ISR and Homeland Security and has managed to get clients' awareness during Le Bourget Air Show with regards to its capacity to master C4ISR systems.

With Intelligent Transportation Systems offering, CS has been also pursuing its international development. Further to opening new markets in Canada and Ireland, CS won two significant projects in India and in Tunisia, two countries requiring huge roads and highways developments.

In France, CS positions remained steady for aeronautics with prospect of new developments as prime contractor for avionics systems and technical information systems solutions.
In space systems, CS has again demonstrated its leadership in the provision of ground systems, by being prime in many sub-systems of the Pleiades project, and by showing its expertise in earth observation especially for intelligence purposes.

With nuclear electricity production, CS was selected by EDF to realize the overall upgrade of its real-time simulators for nuclear plants operators (Mistral project). With the provision of nuclear waste management platforms to IRSN and CEA-DAM, and a first contract for ITER, this project shows the ramp-up of CS industrial IT offering which meets advanced mission critical requirements.

In line with its strategy to keep on increasing profitability, CS sold its loss-making German subsidiary CAM to the German Group Certina Holding. CS will continue to hold positions in Germany with its subsidiary USB which is specializing in PLM (Product Life-cycle Management) and which benefits from a profitability in line with the standards of the Mission Critical Systems Division.

Mission Critical Systems Division employed 1 688 people as of June 30, 2007 compared to 1 633 as of January 1, 2007, e.g. a 3-percent increase. Hirings totaled 136 over H1-2007. Occupancy rate (excluding holidays) was 82.7%.

Mission Critical Infrastructures Division: sustained activity

Mission Critical Infrastructures Division revenues registered a slight year-on-year decrease (-1.7%) to € 68.7 million. The new marketing and sales organization allowed to confirm the trend registered in H2-2006 with growing new business. The book-to-bill ratio reached 0.96x.
In line with its strategic move to develop high added-value IT managed services, the outsourcing activity increased by 10% and won several contracts in particular in the food-processing industrial sector. The outsourcing platforms – NOC/SOC and Data Center – has increased their work-load. With insourcing, CS renewed its contract with CEA-Cadarache and was selected by Eurofactor to deploy over Europe its new ERP PeopleSoft under a Unix/Oracle environment.

Professional services activity has been growing both in terms of revenues and billable staff thanks to sales teams dynamics and a strong improvement of recruiting means and processes. This has been strengthened by the decision early this year to start developing services centers in view of enhancing the industrialization of services for information systems transformation. The services center dedicated to new software technologies opened in June at Aix-en-Provence with 40 engineers.

As of June 30, 2007, Mission Critical Infrastructure Division employed 1 361 people compared to 1 331 as of January 1, 2007. Hirings totaled 155 over H1-2007. Occupancy rate (excluding holidays) was 84.5%.

As of June 30, 2007 CS Group employees without CAM totaled 3 231 people compared to 3 129 a year-ago. Turnover for H1-2007 reached 8.6% on an annual basis.

The Group confirms its objective to achieve an additional increase of its operating margin.

CS will announce its consolidated results for H1-2007 on September 17, 2007.

Press relations
Barbara Goarant
Tel.: +33 (0)1 41 28 46 94

Investor relations
Hugues Rougier
Tel.: +33 (0)1 41 28 44 44