Revenues organic growth at +11,3% in Q1 2008

The CS group reported consolidated revenues of €54.2 million in first quarter 2008, up 11.3% from year ago level at constant perimeter and exchange rates (10.9% at constant perimeter).

Order intakes were €33.9 million, down compared to Q1 2007 which was marked by the win of a large contract in the Middle East (€47.4m over 3 years), due to delays in decisions on certain projects.

In € millions

Q1 2007

Q1 2008

Q1 07 / Q1 08
at constant perimeter & change rate

French companies



+ 14.4%

Foreign companies



- 15.1%





at constant scope

In France




(foreign companies & exports)




In France, the CS group generated €43.5 million revenues, with a steady 13,3% growth. This performance was mainly due to dynamic business in the sectors of Energy, Defense & Security, and Space. These sectors have been benefiting from vigorous activity even if there has been some delays in decision making of certain purchasing authorities, which led to postponements in order intakes.

Abroad, revenues (including exports from French companies) reached €10.7 million and represented 19.7% of total revenues. Business progressed in Europe and in South America. During this quarter, CS dedicated important pre-sales efforts in order to position the Group on large-scale  international projects.

Defense & Security: The modernization program for revamping ATC-command and control centers of NATO countries awarded CS the deployment of a first regular site in Nieumelingen (Netherlands). As confirmation of its business development strategy in command and information systems (C4ISR and crisis management), the LRBA (Laboratoire de Recherches Balistiques et Aérodynamiques, or laboratory for ballistic and aerodynamics research) from the DGA (Délégation Générale pour l'Armement, or French General Directorate for Armaments) chose CS to implement the simulation platform for missiles systems.

In the field of information and communication system security, CS completed the industrialization of its solutions, Ecluse (networking equipment that enables data exchange in absolute security, thanks to physical partitioning) and Vigilo (IS and security supervision and management software based on open souce) at the French Army Commissariat and at the French Ministry of Labor.

Space: Confirming its leadership in satellite ground segment, CS, as prime contractor for the French Space Agency (CNES), developed the mission control center of the Automated Transfer Vehicle Jules Verne, the European re-supply spacecraft that successfully docked with the International Space Station on April 3, 2008.

Aeronautics: This business slowed down somewhat during first quarter, but it should recover, thanks to CS being referenced among preferred suppliers by EADS Group, and with the ramp-up of Airbus A350.

Energy: CS signed ith EDF Septen two new contracts over a period of 3 years; one for the maintenance of scientific coding, and the other for the development of new coding relative to radiation protection (project PARAD).

Transportation: In Poland, CS delivered the complete toll system for the first section of the highway that is to run between the north and the south of the country; a second phase in this project is set for November 2008. Elsewhere, the CS group has been strengthening its position as an operator, winning the full operation of a highway in Chile for a 3-year period.

Staffing levels at March 31, 2008, stood at 2,053 employees compared with 1,884 at December 31, 2007, up 9 percent. The CS group recruited 230 persons during first quarter 2008 (including 79 in Chile) with an objective of 450 for the whole year. Occupation rate for billable employees for first quarter 2008 was 83.2 percent.

CS will publish on August 12, 2008 its Q2 2008 revenues, the growth rate of which, taking into account order intakes postponements of early 2008, should be below first quarter 2008 level.

The CS Board of Directors has decided, given the group's performance in 2007 and its midterm outlook, to propose at its Annual General Meeting on June 27, 2008, the distribution of an ordinary dividend of €0.35 per share, payable July 3, 2008.

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

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