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Positive H1 net profit for the first time since 2007. Organic growth in investments and change of activity that affects the profitability of Large Corporates and cash ...
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Performance Management I Consulting I Technology

RESULTS H1 2010 ERIC COHEN Chairman & Managing DIrector DIDIER TAUPIN Deputy Managing Director ANDRE LIPOVSKY Director – Finance

Analysts’ Presentation

14th September 2010 Titre du document

©© xxx – –All rights reserved Keyrus Tous droits réservés

Synopsis www.keyrus.com

Key Accounts Activities Return to the dynamic forte of organic development. In pursuit of investments for maintaining the unique value proposition of Keyrus

Mid Market Activities Further improved profitability and positive signs of an upturn in the activity at the end of the first half of the year

Keyrus Group Growth of our business plan at the expected rate

© Keyrus – Tous droits réservés

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Synopsis www.keyrus.com

Sales of 58,8M€ in organic progression during H1 2010 - up11% Key Accounts: +17.2%, +13.5% from activities in France and +14.4 % abroad at constant exchange rate Stabilization of Mid Market centre ( -0.1%), with a positive third semester (2.9%)

Positive half yearly operational profits from two business segments for the first time since H2 2007.

Positive H1 net profit for the first time since 2007 Organic growth in investments and change of activity that affects the profitability of Large Corporates and cash generation. Finalization of the operation « BSAAR 2014» 28 managers hold a total of 2 037 500 BSAAR, the balance (2 830 481 BSAAR) was bought back by the company on 30th June 2010

A consistent development in overall activities of the company. The company’s project is operational as per our plans.

© Keyrus – Tous droits réservés

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Synopsis www.keyrus.com

Growth in half yearly Sales 60

58.8 M€ 53.0 M€

50

+ 17.2%

40 34.5 M€

40.5 M€

30

20

10

18.5 M€

18.3 M€

30/06/2009

30/06/2010 Large Corporates

Mid Market

© Keyrus – Tous droits réservés

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Synopsis www.keyrus.com

Breakdown of Sales H1 2010

By Market Segment

Large Corporates 69% 66%* Mid Market 31% 34%*

By Geographical Zone

France 70% 75%* Europe 17% 12%* America 13% 13%*

* Data as on 31st December 2009

By Activity Sector

Industries 27 % 27%* Banks – Insurance Cos. 19% 19%* Telecommunication 16% 16%* Services - Distribution 14% 14%* Public Sector14% 12%* Utilities 8 % 10%* Transport 2 % 2%* © Keyrus – Tous droits réservés

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Synopsis www.keyrus.com

Change in Workforce during H1 2010

Change in Operating profits during H1 2010

1342*

1400 1259* 1200

1,8 1000 898

+ 97

995

1,2

800

1.2 M€ 1.0 M€ 0.7 M€

600

0,6 0.5 M€

400 200

361

- 14

347

0.3 M€

0 -0.2 M€

-0,6 30/06/2009

30/06/ 2010

30/06/2009

30/06/ 2010

30/06/2010 (excluding impact of CVAE)

* Including sub-contractors Large Corporates

Mid Market

© Keyrus – Tous droits réservés

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Synopsis www.keyrus.com

Change in Net Debt as at 30th June 2010

8

Change in Operating Cash Flows

7.3 M€ 6.2 M€

6 3.0 M€

5.0 M€ 3,0 4 2,0

1.6 M€

2 1,0

0 30/06/2009

31/12/2009

30/06/2010

30/06/2009

30/06/ 2010

© Keyrus – Tous droits réservés

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Consolidated Financial Results as at 30/06/2010 www.keyrus.com

Profit and Loss Account June 2009

June 2010

Sales / Turnover

53.0

58.8

Operating Profit

0.8

(in M€)

Other Income and expenses

Net Operating Profit

Finance charges

Taxes

Net Profit (for the Group)

(0.3)

0.5

2.0 *

(0.2) 1.8 *

(0.5)

(0.4)

(0.1)

(0.4) *

(0.1)

1.0

* CVAE taxes: 0.4M€ © Keyrus – Tous droits réservés

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Consolidated Financial Results as at 30th June 2010 www.keyrus.com

Activity wise Operating Profit

Large Corporates H1 2010

Mid Market H1 2010

Group H1 2010

Sales / Turnover

40.5

18.3

58.8

Operating Profit

0.8

(in M€)

Non-recurring expenses

Net Operating Profit

*

(0.2) 0.6 *

1.2 **

(0.0) 1.2 **

2.0

(0.2)

1.8

* Including CVAE effect : 0.2M€ ** Including CVAE effect : 0.2M€ © Keyrus – Tous droits réservés

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Consolidated Financial Results as at 30 June 2010 www.keyrus.com

Sector wise Operating Profit

Corporate Clients H1 2009

Corporate Clients H1 2010

Mid Market S1 2009

Mid Market S1 2010

Sales / Turnover

34.5

40.5

18.5

18.3

Operating Profit

0.0

0.8

Non-recurring expenses

(0.2)

(0.2)

Net Operating Profit

(0.2)

(in M€)

*

0.6 *

0.8

(0.1)

0.7

1.2 **

(0.0) 1.2 **

* Dont impact CVAE : 0.2M€ ** Dont impact CVAE : 0.2M€ © Keyrus – Tous droits réservés

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Consolidated Financial Results as at 30 June 2010 www.keyrus.com

Strong Balance Sheet

ASSETS (in M€)

LIABILITIES June 2009

Dec. 2009

June 2010

Fixed Assets

40.7

41.4

42.8

Current Assets

42.8

49.3

Cash

10.6

Total

94.1

(in M€)

June 2009

Dec. 2009

June 2010

Capital

24.1

26.0

28.0

49.4

Long term Debt

19.9

19.1

18.6

11.1

10.4

Current Liabilities

50.1

56.7

56.0

101.8

102.6

Total

94.1

101.8

102.6

© Keyrus – Tous droits réservés

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Consolidated Financial Results as at 30 June 2010 www.keyrus.com

Improved cash flows

(in M€)

H2 2009

H1 2010

10.5

11.1

3.4

1.6

Cash flow from Investing Activities

(0.9)

(1.9)

Cash flow from Financing Activities

(1.9)

(0.5)

Cash (Closing balance)

11.1

10.3

Cash (Opening balance)

Funds generated through Operations

© Keyrus – Tous droits réservés

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