2015 Full-Year Results. March 23 rd 2016

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Kristin Charles
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1 2015 Full-Year Results March 23 rd

2 Profile One of the leading Consulting firms in Engineering and Advanced Technologies A balanced activity between Information Systems Management and Externalized R&D Over 4,500 staff at the end of 2015, as well as nearly 800 subcontractors 35 locations in 10 countries Over 100 Key Account listings 2

3 Two Expansion Drivers: Organic Growth 1 st ranking with all clients Diversified Positions: Clients Sectors Locations A Broadened Range of Expertise: Information Systems Management Externalized R&D An Acyclical Model anchored by two balanced business lines At the heart of the Digital Transformation & Connected Objects convergence (IoT) 3

4 Two Expansion Drivers: External Growth 11 Transactions in 6 years Celerity HUTAC ATR (Ausy Technology Romania) VITM CrossCheck 2015 Aggregated 460.7m Turnover m APTUS APX-AS Elan 2011 Mobytech One Agency m Pentasys m 4

5 AVENIR 2015: Reminder of our Targets International 86.5m COI 20.3 Turnover in m International 16m COI AVENIR 2015 Within 3 years: International 7.5m COI International x 2 COI x Cap 2009 AVENIR 2012

6 A Third Successful Plan International Turnover ( m) Current Operating Income ( m) 2015 Aggregated 2015 Aggregated 218m 39,1m 2012 X X % of Overall Turnover 87m 20m 6.3% of Overall Turnover 6

7 2015 A Key Year 7

8 2015: A Key Year 3 Challenges to Meet France Reaffirm Organic Growth dynamics and enhance Operating Margins Germany Successfully integrate VITM and Pentasys in Southern Germany Righten Northern Germany International Speed up Diversification 8 Double-digit Growth Organic Growth in France and Abroad New Increase of Current Operating Margin

9 France: Solid Performances Reaffirmed Dynamics IS Management: Growth bolstered by Banking and Insurance sectors Externalized R&D: Multi-sector Expansion Controlled Growth Six consecutive Quarters of Organic Growth A tightly managed Idle Rate 9

6m 2015 International 38% > 46m Turnover up 43.5%... > Matched by a strong increase in Profitability 56,6 M (37,3%) 8,1 M (5,4%) Germany 86.

10 International: 150m Turnover Milestone Turnover Breakdown France / International International Turnover Breakdown by Country (% of International Turnover) Aggregated 218.3m 10 International 105.7m 2014 International 31% France 69% France 62% International 151.6m 2015 International 38% > 46m Turnover up 43.5%... > Matched by a strong increase in Profitability 56,6 M (37,3%) 8,1 M (5,4%) Germany 86.9m (57%) Belgium & Luxemburg 56.6m (37%) US 6.3m (4%) Other 1.8m (2%) Germany 86.9m (40%) Belgium & Luxemburg 56.6m (26%) US 73m (33%) Other 1.8m (1%)

11 International: Belgium & Luxemburg - A Contrasted Year + Toughening Market Conditions Activity taking into account the voluntary discontinuation of lowmargin subcontracting contracts Strong Positions and Expertise on the Belgian market Continued activity through the EU contract 6.6m 2015 Turnover Ongoing Growth in Luxembourg bolstered by Banking activity > Fourth Quarter Rally 11

12 International: Germany Northern Germany Restructuration finalized Uptick in activity over the 2 nd Half-Year AIRBUS projects picking back up Successful Integration of Pentasys and VITM Merger of both firms Implementation of commercial, technical and geographical synergies Creation of a recognized Automobile Hub Further inroads into promising sectors Renewal of all Listings > 1 st International market 12

13 International: Acquisition of Celerity An International Milestone Founded in 2002 Over 400 staff Headquartered in Washington State, presence on East Coast $80m 2015 Turnover, 7.6% EBIT Information Systems Management, Digital Transformation Four key sectors: Finance Health Media Energy 13

14 International: Acquisition of Celerity The Transaction s Highlights 14 Access to a new high-potential market, in line with the geographical diversification strategy Access to a high quality and long-term Key Account portfolio Large Growth reservoirs Integration of Key Expertise High Transnational Assistance Potential Deployment base for new local Acquisitions > Acquisition of a strong position on the US market

15 Staff Growth Staff Growth (inc. Subcontractors) 4,290 1,175 4,785 1,511 5,300 1,985 3,115 3,274 3,315 15

16 Diversification of Sector and Client Positions Turnover Breakdown by Client Sectors Aggregated Aeronautics, Space, Defense 28% 25% 23% 20% Telecommunications, Multimedia 24% 18% 16% 15% Services, Transportation 21% 22% 26% 23% Bank, Finance, Insurance 14% 18% 20% 24% Energy, Environment 7% 9% 6% 7% Health 3% 5% 4% 7% Others 3% 3% 5% 4% Total 100% 100% 100% 100% 16

17 Diversification of Sector and Client Positions Top Ten Clients by Turnover share AIRBUS GROUP AIRBUS GROUP AIRBUS GROUP 2 THALES SAFRAN SAFRAN 3 SAFRAN BELGACOM DEUTSCHE BAHN 4 AMADEUS THALES TELEFONICA 5 ORANGE AMADEUS ORANGE 6 BELGACOM ORANGE SOCIETE GENERALE 7 SOCIETE GENERALE SOCIETE GENERALE BNP PARIBAS 8 ST MICRO DEUTSCHE BAHN THALES 9 JOHNSON & JOHNSON AGIRC ARRCO AMADEUS 10 AREVA JOHNSON & JOHNSON BELGACOM 49% of Overall Turnover 43% of Overall Turnover 41% of Overall Turnover 17

18 18 Activity and Results

19 Turnover Growth Turnover in m % +43.5% % 19

20 Organic Growth Analysis In % Q1 Q2 H-Y1 Q3 Q4 H-Y2 FY 2015 France +3.4% +5.2% +4.3% +3.6% +1.9% +2.1% +3.2% +2.1% Abroad -6.9% -6.9% -6.9% +6% +20% +13.1% +5.3% -2.6% Total +0.7% +2.1% +1.4% +3.6% +8.2% +6% +3.8% +0.8% 20

21 International: Activity and Profitability by zone In m Turnover Belgium & COI Luxemburg % COI 7.6% 6.8% Germany Turnover COI % COI 3.4% 9.5% USA Turnover 6.3 COI (0.4) % COI -5.6% 21

22 International: Activity and Profitability Aggregated Turnover m COI m COI % 4.6% 5.8% 7.8% 8.1% 22

23 France: Activity and Profitability Turnover m COI m COI % 7% 9% 8.8% 23

24 Group: Activity and Profitability Aggregated Turnover m COI m COI % 6.3% 8% 8.4% 8.5% 24

25 Summary Income Statement In millions of Euros Turnover Current Operating Income As % of Turnover 8% 8.4% Operating Income As % of Turnover 7.7% 6.4% Net Debt Financing Cost (1.9) (3.8) As % of Turnover -0.6% -1% ORNANE induced Change in Fair Value (0.6) Income Tax (8.2) (6.8) Net Income Continued Activities As % of Turnover 4.6% 3.5% Net Income Discontinued Activities (5.2) Net Income Group share As % of Turnover 3.1% 3.5% Net Income Group share exc. ORNANE induced Change in Fair Value As % of Turnover 3.1% 3.7%

26 Cash Flow Statement In millions of Euros Consolidated Net Income (total / continued) Operating Cash Flow before Change in Working Capital Requirements Change in Working Capital Requirements (6.2) 0.1 Income Taxes paid (9.6) (6.9) Cash Flow from Operating activities Cash Flow from Divestments -1 0 Cash Flow from Investment activities (21.6) (57.4) Cash Flow from Financial activities Net Cash Flow

27 Summary Consolidated Balance Sheet ASSETS EQUITY AND LIABILITIES In millions of euros In millions of euros Accounts Receivable Short-Term Debt (<1 Y) Other Current Assets Other Current Liabilities Cash and Cash Equivalents CURRENT LIABILITIES CURRENT ASSETS Long-Term Debt (>1 Y) Other Non-Current Liabilities Goodwill NON-CURRENT LIABILITIES Property, plant and equipment and software Other Non-Current Assets NON-CURRENT ASSETS Share Capital Reserves and Retained Earnings EQUITY IFRS 5 ASSETS IFRS 5 LIABILITIES TOTAL ASSETS TOTAL EQUITY AND LIABILITIES

28 2016 An Integration Year, Favorable Prospects on Historic Markets 28 28

29 France: Our Priorities Continue proactive Recruitment policy 1,300 planned recruitments Reaffirm Dynamics of 2015 driving sectors Intensify Client Portfolio diversification > Enhance Profitability 29

30 International: Our Priorities Belgium & Luxemburg: Renew Growth Intensify commercial efforts to further grow Key Account Portfolio Launch of a new Digitalization offer Germany: Reaffirm current Dynamics Reinforce pivotal sectors Enhance Northern Germany/ Southern Germany synergies Continue Client Portfolio diversification strategy United States: Succeed the Integration Targets set with Management Offensive Strategy to prepare 2017 Proactively seek Acquisition Opportunities > Target: 200m Turnover Abroad 30

31 Towards a New Plan ACHIEVED New Plan September

32 Follow us on

Financial report for the first half ended 30 June 2016

AUSY Public limited company (société anonyme) with a capital of 5,138,490 Registered office: 6-10, rue Troyon 92310 Sèvres 352 905 707 Nanterre Trade & Companies Register Financial report for the first