Computacenter PLC Pre-Close Trading Statement (6931C)
21 1월 2015 - 4:00PM
UK Regulatory
TIDMCCC
RNS Number : 6931C
Computacenter PLC
21 January 2015
Computacenter plc
Trading Update - 21 January 2015
Computacenter plc ("Computacenter"), the independent provider of
IT infrastructure services that enables users, is today providing
an update on trading for the year ended 31 December 2014 ("the
year").
Results for the year are anticipated to be in line with the
Board's previous expectations for 2014 despite headwinds due to the
strength of Sterling against the Euro.
Group revenue for the year increased by 1% on a reported basis
and 4% in constant currency. Group Services revenue increased by 2%
on a reported basis and 5% in constant currency. Group Supply Chain
revenue increased by 1% on a reported basis and 4% in constant
currency. We closed the year with a strong fourth quarter, during
which total revenue increased by 7% in constant currency, including
an increase in Group Services revenue of 7% and an increase in
Group Supply Chain revenue of 7%.
Financial position
Group funds, excluding Customer Specific Finance (CSF),
increased by GBP39 million in the year to close 2014 at
approximately GBP129 million (2013: GBP90.3 million).
United Kingdom
UK revenue grew by 10% for the year, with Services revenue
increasing by 9% and Supply Chain revenue growing by 11%. In the
fourth quarter, revenue increased by 8%, including a 12% growth in
Services revenue and a 6% growth in Supply Chain revenue. We are
pleased to see that the growth rate we have achieved in Services
during the year exceeded that achieved in 2013. There have been a
number of large new contracts secured during 2014 that will assist
revenue growth in 2015 and beyond. While there will be a headwind
to Services growth in 2015, due to the significant reduction of one
particular contract (as previously set out in our Interim
Management Statement dated 22 October 2014), we have also achieved
a number of significant renewals during the year, particularly in
the fourth quarter, which will underpin the contractual services
revenue base. Supply Chain growth has been a little more modest in
the second half of the year compared to the strong growth achieved
in the first half. However, we are pleased with the overall growth
that we have seen across the UK business during 2014.
Germany
German revenue fell by 3% in constant currency for the year,
with Services revenue flat and a 5% decline in Supply Chain
revenue. However, we have seen a significant improvement in
performance during the fourth quarter, with revenue increasing by
11% in constant currency, including a 2% increase in Services
revenue and a 15% increase in Supply Chain revenue. While it is
disappointing to see total revenue decline in 2014, the overall
performance of the business has gradually improved as the year has
progressed, with a particularly positive fourth quarter performance
resulting in our German business entering 2015 in a stronger
position than it entered 2014. The German Services pipeline
continues to strengthen which should help underpin Services growth
in 2015.
We still anticipate the release of some of the provision made
against the onerous contracts to be reported at our results in line
with our Interim Management Statement dated 22 October 2014.
France
In France, revenue in constant currency increased by 6% in the
year, including a 7% growth in Services revenue and a 6% growth in
Supply Chain revenue. Total revenue in the fourth quarter declined
by 3% in constant currency, with a 10% growth in Services revenue
and a 5% decline in Supply Chain revenue. We are pleased that our
French social plan has now been implemented, which should help
improve the financial performance in 2015. It has been an extremely
challenging year for Computacenter France. Our customer service
offering has improved materially during the course of the year,
assisted by the appointment of new local management and Group
Management input. However, general market conditions have remained
difficult and we have suffered from poor service quality delivered
by the business in 2013. Our systems are now stable which is
enabling us to rebuild our business, with a particular focus on our
services pipeline. We have made some progress on reducing the
amount of working capital tied up in the business, but there
remains much to do in this area, including taking sustained action
to lower levels of overdue debtors.
Outlook
While we are encouraged by the continued momentum built up over
the last few years in the UK and by the positive end to the year in
Germany, it is far too early to make any predictions in respect of
2015. As a Group, we continue to invest to improve our capability
to deliver superior value to our customers and continue the growth
we have seen over the last few years.
We look forward to presenting our Final Results for the year
ending 31(st) December 2014 on Thursday, 12(th) March 2015.
Enquiries:
Computacenter plc
Mike Norris, Chief Executive 01707 631601
Tony Conophy, Finance Director 01707 631515
Tulchan Communications
James Macey White 020 7353 4200
Conference Call
There will be a conference call for analysts and investors this
morning at 09:00. For dial-in details, please contact Lara Harris
at Tulchan Communications at computacenter@tulchangroup.com
APPENDIX
Revenue Growth Q4 2014 and Full-Year
Change vs 2013 Q4 Change Q4 Change FY Change FY Change
As Reported Constant As Reported Constant
Currency Currency
---------------------- ------------- ---------- ------------- ----------
Supply Chain Revenue
UK 6% 6% 11% 11%
Germany 9% 15% -10% -5%
France -10% -5% 1% 6%
Group 4% 7% 1% 4%
----------------------- ------------- ---------- ------------- ----------
Services Revenue
UK 12% 12% 9% 9%
Germany -3% 2% -5% 0%
France 5% 10% 1% 7%
Group 4% 7% 2% 5%
----------------------- ------------- ---------- ------------- ----------
Total Revenue
UK 8% 8% 10% 10%
Germany 6% 11% -8% -3%
France -8% -3% 1% 6%
Group 4% 7% 1% 4%
----------------------- ------------- ---------- ------------- ----------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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