080613 RealDolmen Press Conference
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080613 RealDolmen Press Conference

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RealDolmen Press Conference 13 June 2008

RealDolmen Press Conference 13 June 2008

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080613 RealDolmen Press Conference 080613 RealDolmen Press Conference Presentation Transcript

  •  
  • Press Conference June 13, 2008
  • AGENDA
    • 2008 Key Objectives
    • 2008 Key Figures
    • The RealDolmen Project
  • KEY OBJECTIVES Q1/FY 2008
  • REAL’S OPERATING STRATEGY To be a client focused, sales-driven organization capable of delivering sustainable double-digit growth and market-leading profitability
  • OBJECTIVES Q1/FY 2008
    • Continue to achieve operational improvements
    • Close the Dolmen bid successfully
  • KEY OBJECTIVES Q1/FY 2008
    • Continue to achieve operational improvements
      • Year-over-year double-digit revenue growth of 10.8%
      • Operational result before non-recurring items (REBIT) 6,4% of turnover
      • Headcount increased by 3 %
    All numbers represent Real standalone, excluding any effect of Dolmen acquisition
  • KEY OBJECTIVES Q1/FY 2008
    • Close the bid successfully
      • Announcement of the tender offer and subsequent merger on December 21, 2007
      • CBFA approval on February 13, 2008
      • Publication of prospectus on February 20, 2008
      • Closing of the tender acceptance period on March 5, 2008
      • Closing of the tender offer with 82,45% Dolmen shares tendered on March 26, 2008
  • KEY FIGURES Q1/FY 2008
  • KEY FIGURES FY2008 (JAN 1- MARCH 31, 2008)
    • REBIT in FY2008 (Jan 1 - March 31, 2008) improves to 6,4% of turnover compared to 2,8% for Q1 2007
    • € 17,6m of deferred tax income is recorded recognizing part of the unused tax losses in Real anticipating the legal merger with Dolmen Computer Applications NV
    • The legal merger with Dolmen Computer Applications NV is expected to close before the end of Q3 with retroactive effective close of April 1, 2008
    Real closes FY2008 (Jan1- Mar 31, 2008) with an increase in turnover of 10,8% compared to Q1 2007
  • EVOLUTION OPERATING PERFORMANCE Trend of increase in turnover continues with improvement in operational margins
  • EVOLUTION RECURRING OPERATING PROFIT Margins improve or remain stable despite negative seasonality impact in first 3 months of 2008 compared to FY 2007
  • EVOLUTION NET RESULT
    • Recognition of €17,2m tax income based on planned merger
    • REBIT continues to improve
    • Financial cost includes €0,6 m of depreciation on equity component of convertible bond
    7,4 17,3
  • TAX ASSETS Legal merger with Dolmen Computer Applications NV will allow quicker utilization of unused tax loss carry forward in Real Software NV
  • EVOLUTION NET DEBT AND EQUITY Strong improvement in equity because of acquisition Dolmen and tax asset recognized in net profit
  • THE REALDOLMEN PROJECT
  • THE REALDOLMEN PROJECT - HISTORY
    • December 21, 2007
    • February 20, 2008
    • March 5, 2008
    • March 26, 2008
    • Announcement of the tender offer and subsequent merger
    • CBFA approval and publication of the prospectus
    • Closing of the tender acceptance period
    • Successfull closing of the tender offer with 82,45% Dolmen shares tendered
  • FROM REALDOLMEN PROJECT TO REALDOLMEN NV
    • Respective Boards approve merger proposal following
    • Shareholders to vote on merger proposal before end of Q3, 2008 subject to required environmental approvals
    • The merger will have retroactive effect for accounting purposes as per April 1, 2008
    • The proposed merger exchange rate is 50 Real shares for 1 Dolmen share (this also applies to warrants and employee shares)
  • FROM REALDOLMEN PROJECT TO REALDOLMEN NV
    • As from the merger, Real and Dolmen become one single company with one set of joint RealDolmen NV employees, clients, partners and shareholders
    • The merger is the next step in the operational integration of both businesses creating one of the largest independent local ICT solutions providers
    • The merger wil trigger operational and financial synergies
    • RealDolmen is well positioned to continue to grow organically as well as through acquisitions
  • REALDOLMEN IS ONE OF THE TOP INDEPENDENT ICT SUPPLIERS IN BELGIUM
  • REALDOLMEN HAS A CLEAR VISION AND MISSION
    • Vision: To be the reference in the local market for integrated solutions supporting the complete ICT-lifecycle.
      • Reference : be the preferred & trusted choice for customers, partners and employees
      • Local : proximity to our customers in the Benelux and France
      • Integrated solutions : complete ICT offering covering the full lifecycle, including infrastructure, applications and communications
      • Complete ICT-lifecycle : supporting all plan-build-operate activities
    • Mission: RealDolmen’s mission is to enable its clients to achieve their objectives by optimizing their business processes through innovative, effective and reliable ICT solutions.
  • REALDOLMEN HAS MORE THAN 10000 MANYEARS OF EXPERIENCE 3271 5033 BILLABLE YEARS OF SERVICE EMPLOYEES PER AGE CATEGORY 81% 80% 19% 20% EDUCATION
  • REALDOLMEN HAS AN ALIGNED MANAGEMENT TEAM Bruno Segers Thierry de Vries Werner Prühs Jan Bogaert Dirk Debraekeleer Marc De Keersmaecker Paul De Schrijver Jos Nijns Ashley Abdo
    • common set of goals
    • similar remuneration plan
    • new joint stock option plan (the old Real-only plan is being cancelled)
  • REALDOLMEN KICKED OFF FY08/09 SUCCESSFULLY
    • Process driven ‘Convergence’ integration project
      • IPC (IT Platform Convergence)
      • HSS (Human Support Services)
      • FSS (Financial Support System)
      • SSS (Sales Support System)
      • OSS (Operations Support System)
    • Structured and regular communication program
      • Weekly internal RealDolmen No Nonsense newsflash
      • On-site ‘Streamline’ breakfasts
    • Website with up-to-date information incl. webpresence
  •