• SUSTAINED ORGANIC GROWTH: +12.9%
• SHARP INCREASE OF OPERATIONAL MARGIN ON ACTIVITY: +125% (10.9% OF REVENUE)
• 7 ACQUISITIONS IN FRANCE AND OVERSEAS

BUSINESS IN 2021: +25.4%

Although 2020 was impacted by the Health Crisis, the activity has strongly resumed in 2021. Revenue has grown by 25.4%: 13.7% growth in France and 32.9% overseas. Acquisitions contributed to almost half of the increase in activity, the other half being fulfilled by a strong organic growth. On a like‐for‐like basis and constant Exchange rate, growth reaches 12.9% (+8.4% in France and +15.7% outside France).

All business sectors are growing in 2021 and more specifically Space, Defense and Security, Electronics and Life Sciences. Since this third quarter, the Automotive and Civil Aeronautics sectors have experienced organic growth again, however below their pre‐crisis levels.

Most of the geographical areas experience a strong organic growth of over 10%, with the exception of the countries where the Civil Aeronautics and Automotive activities are predominant, i.e. France, Germany and Sweden, which experience lower growth.

OPERATING PROFIT ON ACTIVITY: €319.9M I.E. 10.9% OF REVENUE

ALTEN has preserved the basics of its gross margin and controlled its SG&A. Therefore, the strong growth in H2 led to a significant improvement of the operational profit on activity which now exceeds its pre‐crisis level.

OPERATING PROFIT: €288.2 M I.E. 9.9% OF REVENUE

Operating Profit reaches €288.2 M (i.e. 9,9% of revenue). It includes €21.9 M of share‐based payments and €9.8 M of non‐recurring costs mainly composed of acquisition fees (€4.8 M), earn‐outs (€3.8 M) and restructuring cost (€1.2 M).

NET PROFIT, GROUP SHARE: €207.8 M I.E. 7.1% OF REVENUE

Financial result equals ‐ €1.7 M. After taking into consideration tax expenses for €78.6 M, Group net income reaches €207.8 M.

NET CASH FLOW: €219.8 M / GEARING: ‐15.5%

Cash flow (before taking into account IFRS16 effects) reaches €329.9 M and grows by 142% as compared to 2020. WCR grows by €113.4 M due to a sharp increase of activity in H2 2021. DSO remains stable. Capex equals €16.3 M. Hence, free cash flow (before taking into account IFRS16 effects) reaches €158.1 M i.e. 5.4% of revenue. ALTEN was able to self‐finance its acquisitions (€107.5 M) and dividends (€33.9 M). Net cash position improves and equals €219.8 M as compared to €195.6 M at the end of 2020.

EXTERNAL GROWTH: 7 ACQUISITIONS IN FRANCE AND OVERSEAS

ALTEN has completed 6 acquisitions in 2021:

• In the UK/Finland: 1 company specialised in Consulting and Agile Training (€9.5 M Revenue, 65 consultants)
• In Germany: 1 company specialised in Engineering and Consulting (mainly in the Automotive sector) (€10 M Revenue, 90 consultants)
• In France: 1 company specialised in the transformation and digitalisation of Information Systems (€37 M Revenue, 280 consultants)
• In the UK: 1 company specialised in Life Science (€20 M Revenue, 180 consultants)
• In the US/China: 1 company specialised in software development (€68 M Revenue, 1,900 consultants)
• In the US/India: 1 company specialised in product engineering, embedded systems and digital technologies (€11 M Revenue, 930 consultants)

ALTEN has also completed a first acquisition in 2022

• In Spain: 1 company specialised in Cloud and digital transformation (€12 M revenue, 180 consultants)

OUTLOOK FOR 2022:

The beginning of 2022 fits in the continuity of the trend observed in the second half of 2021. Business will grow depending on the evolution of the health crisis as well as geopolitical and macroeconomics environments. Assuming similar conditions, ALTEN should achieve a satisfactory organic growth and operating margin on activity and will pursue its strategy of targeted external growth.