Home
Computacenter Benelux
Computacenter Benelux
Computacenter France
Computacenter France
Computacenter Germany
Computacenter Germany
Computacenter Global Capabilities
Close Close this panel

Computacenter 2010 Final Results Announcement

Download full PDF

March 2011

Computacenter plc, the European IT infrastructure services provider, today announces final results for the twelve months ended 31 December 2010.

"Another year of strong progress"

FINANCIAL HIGHLIGHTS

Underlying performance

  • Ongoing^ revenues increased 10.7% to £2.68 billion (2009: £2.42 billion)
  • Adjusted* profit before tax increased 21.8% to £66.1 million (2009: £54.2 million)
  • Adjusted* diluted earnings per share (‘EPS’) increased 19.1% to 33.0 pence (2009: 27.7 pence)
  • Total dividend for 2010 of 13.2 pence per share (2009: 11.0 pence)
  • Net cash prior to customer specific financing (CSF) was £139.4 million (2009: £86.4 million)

Statutory Performance

  • Group revenues increased 6.9% to £2.68 billion (2009: £2.50 billion)
  • Profit before tax increased 35.1% to £65.4 million to (2009: £48.4 million)
  • Diluted EPS increased by 30.9% to 32.6 pence (2009: 24.9 pence)
  • Net cash after CSF of £111.0 million (2009: £37.3 million) 

OPERATING HIGHLIGHTS

  • Revenues improved significantly in all our major geographies
  • Ongoing^ Group product revenue grew markedly, up 12.5% (14.7% in constant currency) as a result of strong customer demand for upgraded and improved IT infrastructure
  • Our Group annual services contract base grew over 7.1% (9.3% in constant currency) to £539.4 million (2009: £503.6 million) in excess of market growth predictions#
  • Our Group-wide ERP project remains on track with a successful migration onto the new platform in Germany
  • On 15 February 2011 we announced, subject to the approval of the French Competition Board, our agreement to acquire Top Info for an initial debt free cash consideration of €21 million
  • Launch of C3Mail, the first in a suite of cloud based offerings

Mike Norris, Chief Executive of Computacenter plc, commented:

“Computacenter has delivered another strong set of results with increased profits, EPS, dividends and an improved cash position. We have delivered in excess of 20% compound annual EPS growth over the last four years.

Over the last two years, we have done much to identify those areas where we have competitive advantage and for which there is market appetite. We believe that this is where our future success lies.

We believe that 2011, as a whole, will be a year of continuing improvement for Computacenter’s performance.  We are encouraged by end user demand for new technology which is driving the requirement for investment in corporate IT infrastructure, helped by economic improvement within our customers’ markets. Our services market place continues to grow, albeit at a modest pace, but we feel increasingly confident about our ability to continue to outperform the market.”

* Adjusted for exceptional items and amortisation of acquired intangibles.
# Source: Gartner
^ Ongoing revenues exclude revenues from the disposed Trade Distribution business

For further information, please contact:  

 
   

Computacenter plc.

 

Mike Norris, Chief Executive 

01707 631 601

Tessa Freeman, Investor Relations

01707 631 514

www.computacenter.com

 

 

 

Tulchan Communications

020 7353 4200

Lucy Legh

 

Christian Cowley

 

www.tulchangroup.com Link opens in new window