The annual review summarizes Logicalis' financial and operational highlights for 2010. Key points include: - Sales increased 8% to $841.5 million and EBITDA rose 17% to $42 million. - The company expanded its global presence through acquisitions and now has nearly 2,000 employees across four regions. - Logicalis provides integrated solutions and services across communications, data centers, and professional/managed services working with vendors like Cisco, HP, IBM, and Microsoft.

1. Annual Review 2010
KNOW
hOW
KNOW
WhEN
KNOW
WhErE

2. Knowledge is the key component of commercial
advantage in today’s competitive business environments.
As complex technologies converge, companies seek
long-term relationships with trusted IT advisors.
We don’t just know how to solve IT problems; we
know when our solutions will deliver the maximum
impact and, through our growing international
presence, we can meet our customers’ needs wherever
in the world they may be.
We work closely with our customers to understand
their business drivers and turn ideas for performance
improvements into real-life deployments of the
latest technologies.
It’s about business and technology working as one.
Contents
01 Financial highlights
02 Our growing global presence
04 Chairman’s statement
06 CEO’s review
08 Know how
10 Know when
12 Know where
14 Public and private sectors
16 International operations
18 Our corporate social responsibility
20 Financial overview
22 Board of Directors
24 Financial results
25 Our subsidiaries

3. FI NA NCI A L
hIGhLIGhTS
Sales EBITDA
$
841 5 million
$42 million
%
of sales
Net cash Annuity revenues
up
87 17
$76.4 million
% up
$117.5 million
%
www.logicalis.com 01

4. OU r GrOW I NG
GLOBAL
PrESENCE
Global presence
Logicalis is a global ICT integrator with
nearly 2,000 employees across four regions;
Europe, North America, South America
and Asia Pacific, supporting over 5,000
corporate and public sector customers.
Our business – a superior breadth of knowledge and expertise in integrated
solutions and services working with the world’s leading ICT vendors
Communications and Collaboration Data Centre Professional and Managed Services
Logicalis is a recognised leader in the Logicalis’ expertise in Data Centre solutions Logicalis’ experienced and certified specialists
design, implementation and support of helps organisations operate their data centres deliver a portfolio of full life-cycle services,
highly integrated Communications and at peak efficiency, minimal cost and maximum backed by comprehensive Managed Services
Collaboration solutions, with best-in-class effectiveness, and provides the environmental expertise. These encompass the voice and
products from Cisco, IBM, Microsoft, Tandberg benefits required today. data infrastructure (fixed and mobile), data
(now part of Cisco) and other leading vendors. centre, and applications found in today’s
* Virtualisation and Consolidation enterprise ICT environments.
* Voice and IP Telephony * Enterprise Computing
* Network Infrastructure * Cloud Services * Consulting
* Contact Centre * Storage * Application Integration and Development
* Messaging * Hosting * Managed Services
* Presence * Switching * Remote Monitoring and Management
* Rich Media Conferencing * Security * Hosting
* Collaborative Content/Web 2.0 * Co-location
* Video * Managed Infrastructure Services
* Security * Security
02 Logicalis Annual review 2010

5. Our offices
Europe North America South America Asia Pacific
UK Scottsdale (Arizona) Brazil Australia
Slough (HQ) Irvine, San Diego Belo Horizonte Sydney
London (California) Brasília Melbourne
Warrington Shelton (Connecticut) Manaus Brisbane
Livingston Atlanta (Georgia) Rio de Janeiro
Cardiff Lisle (Illinois) São Paulo Malaysia
Indianapolis (Indiana) Cyberjaya
Germany Waltham (Massachusetts) Argentina Kuala Lumpur
Berlin Farmington Hills, Buenos Aires
Córdoba Hong Kong
Cologne Commerce Twp. (Michigan) Hong Kong
Minneapolis (Minnesota) Rosário
St Louis (Missouri) Chile China
Bridgewater (New Jersey) Santiago Xiamen
New York (NY) Shanghai
Charlotte (N Carolina) Paraguay Suzhou
Cincinnati, Dublin (Ohio) Asunción
Houston, Plano, San Singapore
Antonio (Texas) Peru Singapore
Bellevue (Washington) Lima
Taiwan
Green Bay, Brookfield Uruguay Taipei
(Wisconsin) Montevideo Kaohsiung
Hsinchu
Taichung
New territory
In January 2010, Logicalis increased its global
footprint after acquiring NetStar, a leading IP
network infrastructure services provider in Asia
Pacific. Now fully integrated into the Logicalis
Group, and rebranded as NetstarLogicalis, the
regional operation’s network of offices spans
Australia, China, Hong Kong, Malaysia,
Singapore and Taiwan.
Our partners
Our strategic technology partners:
Cisco HP IBM Microsoft
Logicalis provides support Logicalis is one of HP’s Logicalis is a Premier IBM Logicalis is a Microsoft
for all aspects of the network highest accredited partners, Business Partner and also Gold Certified Partner
life cycle and is a specialist supporting HP solutions from one of the only integrators with certifications in Portals
in key areas such as Unified Blade Server Virtualisation to support all IBM hardware and Collaboration, Business
Communications, Data through to large enterprise server platforms and their Intelligence, Data
Centres, Wireless LANs, Data Centre total refresh complete range of middleware Management, Unified
Network Security and Network projects. In 2010, Logicalis software and services. In Communications,
Infrastructure. Logicalis was awarded HP’s Data 2010, Logicalis was awarded Infrastructure and Hosting.
received 8 Cisco Partner Centre Specialist of the IBM’s Beacon Award for
awards in 2010, including Year for UK and Ireland. the Outstanding Power
Global Partner of the Year Systems Solution for Major
for Technical Excellence. Markets (USA).
www.logicalis.com 03

6. Jens Montanana
Chairman, Logicalis
Ch A I r m A N ’S
STATEmENT
Jens Montanana, Logicalis Chairman In markets worst hit by the economic slowdown,
and Chief Executive of Datatec, commented: our UK operations still managed to post a very strong
Logicalis delivered a sound financial and year end, and staff in our US operations have rallied
operational performance in its 2010 fiscal year, hard to put that market’s inflection point firmly behind
ending 28 February 2010. Strong operational cash them as activity picks up.
generation and steady margins were the defining
features of the company’s robust response to Trading in South America, meanwhile, remained
tough trading conditions. strong throughout the year, in line with the Group’s
expectations, while Logicalis gained an Asia Pacific
As we have stated previously, the longer-term presence in January 2010, with the acquisition of
and contractual nature of its customer relationships NetStar Group Holding Ltd (‘NetStar’).
means that Logicalis’ experience of recovery tends
to lag behind improvements in the overall economy Revenue was $840.6 million, including a $19 million
by several months. However, we are confident that contribution from two acquisitions, Minters and NetStar,
this recovery is now underway in many parts of the compared to $1,007.4 million in 2009. We saw
world where we operate, despite the United Kingdom demand for technology products contract, and
expecting to remain under pressure as reductions Logicalis’ main vendor partners, Cisco, HP and
in public spending and the weaker pound weigh IBM, experienced double-digit declines in product
on overall sentiment. revenues. In addition, telecommunication operators
and services providers in South America, an
I’m pleased to report that the second half of the important customer segment for Logicalis in this
year was both sequentially better than the first half, region, cut capital expenditure significantly.
and comparatively better than the second half of
the 2009 financial year.
04 Logicalis Annual review 2010

7. We are encouraged by the fact that revenues from
services remained resilient and saw no significant Logicalis emerges from this
year-on-year decline from 2009 levels, while annuity
revenues rose by 17%. difficult period as a stable
Overall, effective cost management and increasing
activity towards the end of the year, combined with
company in an excellent
well-maintained services margins and an improved
services mix, helped Logicalis mitigate against the
cash position.
potential impact of recessionary conditions.
Despite depressed demand for technology products
and spending cutbacks in many of the industries
in which we operate, Logicalis emerges from this
difficult period as a stable company in an excellent
cash position.
www.logicalis.com 05

8. Ian Cook
Chief Executive Officer, Logicalis
ChIEF EX ECUTIVE OFFICEr’S
rEVIEW
Setting The economic downturn
It’s been a tough couple of years for companies
Our markets
Logicalis is rolling out a managed services portfolio
the scene
worldwide. Like others, Logicalis experienced across all our markets. In every country that we
a severe slow-down in business in the last quarter operate in, management’s goal is to reposition
of 2008 across all of its markets, especially in the company from a reseller of ICT equipment to
Europe and the USA. a broad-based ICT partner, offering a range of
innovative services geared to customer requirements.
Our response, I’m pleased to say, was swift and
effective. By analysing our cost base and cutting While the provision of vendor-based infrastructure
in areas where action could be taken, we were able systems remains at the heart of our business,
to counteract the slowdown and protect profitability. we know that managed and professional services
are the key to fostering deeper, more strategic
At the same time, we have remained mindful relationships with our customers.
of the need to prepare for economic recovery.
Past experience shows that recessions tend to One trend that we have seen in all markets is that
mark an inflection point; the business environment buying decisions are no longer made solely by IT
that follows a recovery is often markedly different department personnel, but also by functional and
from the pre-downturn environment. business-unit managers.
For that reason, the Group has stayed closely At the same time, the boundaries that have
committed to customer needs and market trends historically separated communications, computing
during the turbulence of the past year. We have platforms and applications are increasingly blurring,
accelerated organisational change and made leading to more complexity in decision-making.
significant investments in the technologies and
systems needed to drive further efficiencies and These issues are driving a need for Logicalis to
to position ourselves in areas of emerging demand, engage with its customers on a business level,
such as cloud computing and data centre services. understanding the issues that they face and
designing, implementing and managing the
Our three-fold focus on efficiency gains, investment solutions to overcome them.
in systems and market-driven opportunities will
ensure that Logicalis emerges from the global Our approach of focusing on communications
downturn in a strong position. and collaboration, data centre and managed services
has been key to our customer engagement strategy.
Operating at all levels – up to and including Board
level – we can offer business-led, technical solutions
and services that move us from a position of ICT
infrastructure provider to strategic ICT partner.
All our markets are aligned with this model and
a measure of our success is the 17% increase
in annuity service revenues in the past year.
06 Logicalis Annual review 2010

9. Building a strong business Our expansion plans remain ambitious.
South America and Asia Pacific are areas
2010
Building a strong, profitable company, with growth of opportunity for acquisitive growth in regions achievements
in excess of the prevailing market rates and with of the world where rising IT investment will deliver
world-class customer satisfaction ratings, remains the greatest opportunities. In our established Our January 2010 acquisition
our goal in the year ahead. markets, we will continue to enhance our service of the NetStar business in
offerings by investing in people and systems, Asia Pacific, which has brought
We know that every Logicalis customer is different. as well as exploring acquisitions that will boost the Logicalis name and branding
We serve organisations of varying sizes across our managed services portfolio. to operations in Australia,
a range of geographies and industry sectors, Singapore, Taiwan, Hong Kong,
including enterprise organisations, mid-market While early signs of economic recovery in all our China and Malaysia.
commercial clients, telecom service providers markets are encouraging, we must remain vigilant.
and public sector bodies. But our approach That means identifying new opportunities, finding Prestigious partner awards
to doing business with every customer is the new efficiencies within our business and aligning from Cisco, HP and IBM, in
same: listening closely, so that we understand ourselves with those market segments that show recognition of our significant
their individual issues and concerns. the greatest growth potential. We will continue to contribution in a range of core
focus on increasing the service proportion of our technology disciplines over
It’s only then that we will put our technical revenue to ensure that our margins are stable and the past year.
architects and service personnel to work on the sustainable going forward.
solution; we continue to invest heavily in our people Significant investment in
and their training – in order to tackle customers’ TelePresence suites in London,
challenges with the very best in innovative and São Paulo, Buenos Aires and
best-practice thinking. Michigan, which are enabling
Logicalis teams worldwide
When it comes to working with vendors, to share key expertise and
engagement is equally key. Local management knowledge for the benefit
across all our markets are encouraged to forge of customers.
relationships with their vendor-based counterparts
at all levels, enabling us to take the most innovative The opening of a new,
joint propositions to market. next-generation, high-density
data centre in Slough, UK,
As we look ahead, our healthy balance sheet and which will provide Logicalis
strong cash position will enable the Logicalis Group customers with the very
to continue to invest in systems and people, which latest in made-to-measure
will position the business for long-term growth. hosted, managed and cloud
computing services.
www.logicalis.com 07

10. K NOW
hOW
At a time when it’s never been more
important for organisations to embrace
efficiency and stay ahead of the competition,
We have proven ways to transform
organisations with the latest advanced
technologies and new deployment methods,
a key organisational challenge for many from cloud computing to collaborative
is choosing a partner they can trust for working. Our key partners have honoured us
advice on which technologies, vendors and with numerous awards, in recognition of our
deployment methods will best support their ability to deliver innovation to the market and
ICT requirements, both now and for the help customers achieve higher value and
long term. better business outcomes.
By focusing on its key business areas, It’s our deep engagement with our
Logicalis can offer a wealth of real-world customers that helps us build an ever-stronger
experience in Communications and understanding of what is needed to help
Collaboration; the Data Centre; and them achieve true business value and true
Professional and Managed Services. business transformation. Our goal is to help
them understand what’s possible today,
so that they make the best business and
technology decisions, now and in the future.
08 Logicalis Annual review 2010

11. Data Centres and Cloud Computing
With its promises of elastic scalability, increased
efficiency and reduced operational expenditure,
it’s no wonder that businesses are rushing to the
cloud. It’s where the corporate data centre meets
a whole new world of high-availability, pay-on-
demand services.
But in order to reap the benefits of private,
community and ‘co-operative hybrid’ cloud
infrastructures, many organisations will require
expert advice and support. At Logicalis, our
proven track record in advanced data centre
virtualisation and managed services is helping
our clients turn cloud hype into cloud reality.
Highlights:
* Logicalis holds Cisco’s Unified Computing
System (UCS) certification across all its regions
to design, integrate and support data centre
infrastructures for its clients.
* We have invested in new Data Centres offering
Enterprise Cooperative Cloud Services in the
UK and US.
www.logicalis.com 09

12. Communications and Logicalis has achieved
Collaboration Cisco’s Master Accreditation
for Unified Communications
In a world where delayed decision- for Europe, North and South
making robs a company of time, America, as well as Authorised
money and competitive edge, Technology Partner (ATP) in
staying in touch has never been Cisco TelePresence.
more important. Our applications of
innovative and collaborative working
techniques span fixed and mobile
telephony, contact centres, messaging
and the latest rich-media conferencing
systems, enabling them to work
together seamlessly in even the most
complex multi-vendor environments.
Professional and
Managed Services
Sometimes, being free to focus on
what makes your business unique
means knowing when to let go of
non-core operations. Logicalis has over
20 years of experience in monitoring
and managing IT systems on our
clients’ behalf, according to the latest
Information Technology Infrastructure
Library (ITIL) best practice.
Logicalis offers a range of Professional
Services from Project Services,
Consultancy and Applications Services
as well as an extensive portfolio of
managed services via its 24/7 Managed
Services Operation Centres, located
in the USA, UK, Argentina, Brazil
and Malaysia.
a Logicalis Annual review 2010

13. HOW
can your organisation
deploy the right
technologies to deliver
maximum value and
transformation?
LOGICALIS KNOWS.

14. K NOW
WhEN
Our Approach Collaboration
It’s all in the timing. When Logicalis develops a technology
As the economic recovery gathers pace, roadmap and strategy for your business,
companies are once again looking to you can be sure that it will be based on
resume their investments in enterprise input from key stakeholders from across
IT. But smart companies are interested the organisation: sales and marketing,
only in those technologies that will deliver finance, human resources, manufacturing
maximum competitive advantage and and distribution. It’s only by understanding
generate the fastest return on investment their current challenges that we can help
(ROI). At Logicalis, we make it our business your business create future opportunities.
to know which technologies will get your
business where it wants to go, in the Increasing Competitive Advantage
fastest timescale possible. As companies continue to accelerate out of
the downturn, it’s never been more important
to be the first to identify and address every
opportunity that presents itself. At Logicalis,
we aim to help you cross the finishing line
before your competitors do.
10 Logicalis Annual review 2010

15. Welsh Assembly Government
In 2007, the Welsh Assembly
Government, Wales being one of
the four countries that makes up
the United Kingdom, appointed
Logicalis as their strategic partner to
design, build and manage a unique
communications service that will
ultimately connect up to 10,000
public sector sites within Wales.
Initially connecting over 1,000
sites within healthcare, local
government, and higher education,
the network is growing rapidly, and
new organisations, including blue
light emergency services, are now
using this world-leading public
sector communications service to
lower the total cost of government
communications in Wales and enable
the country to move into a new era
of shared public services.
Built on Cisco Borderless Networks
platforms and managed by solutions
from CA Technologies, the seven-year
Public Sector Broadband Aggregation
(PSBA) contract is a flagship
government project for Logicalis.
Working closely with the Welsh
Assembly Government, Logicalis
is proud to be a partner in creating
public sector service innovation
in Wales.
www.logicalis.com 11

16. Valassis
Michigan-based Valassis is a leading global organisation
offering media and marketing services to more than
15,000 advertisers.
Through a series of mergers and acquisitions and
changing business requirements, the proliferation
of data centres at Valassis was creating problems:
spiralling costs, inefficiencies and the risks of a disparate
IT configuration. Valassis needed an expert partner to
help evaluate requirements, options and technology and
one that could understand future business requirements.
After a thorough evaluation of Valassis’ existing IT
infrastructure, Logicalis was able to develop a deep
understanding of present and future requirements
in order to apply its innovative thinking to developing
the right environment.
Logicalis has consolidated Valassis’ data centre into
a re-engineered and redesigned dynamic environment.
This critical and complex operation set Valassis up to
improve efficiencies, cope with future requirements
and realise annualised cost savings of around
$4.5 million in 2008.

17. WHEN
is the timing right
for your organisation
to invest in new systems
that will generate the
fastest returns?
LOGICALIS KNOWS.

18. K NOW
WhErE
Focusing on new markets can work closely together in virtual teams,
sharing their knowledge and expertise,
As globalisation continues to advance, across geographies and time zones.
businesses of all sizes increasingly find It’s all about an organisation ‘working
themselves working across regional, national as one’ – regardless of the physical location
and international networks of colleagues, of individual team members.
customers, suppliers and partners.
From the companies we speak to, we know
That’s true for Logicalis and it’s almost that many other organisations share our
certainly true for your organisation, too. goal. Using technology to achieve improved
In the past few years, we have significantly collaboration, efficiency and productivity is
expanded our geographic footprint, most a major priority for many, as is lowering the
recently with acquisitions in Germany operational costs and environmental impact
(Minters) and Asia Pacific (NetStar). associated with business travel. Today’s
At Logicalis, we believe that increased technology is helping us – and them – to
globalisation calls for increased collaboration, achieve these targets.
so that employees and business partners
www.logicalis.com
12 Logicalis Annual review 2010 12

19. NetStar acquisition
With the December 2009 announcement that Logicalis
was to buy NetStar, the leading IP network services
provider in Asia Pacific, we embarked on an exciting
journey to open up new market opportunities in some
of the world’s fastest growing economies.
With three main units in Australia, Singapore and
Taiwan and further operations in Malaysia, Hong Kong
and China, NetStar boasted an impressive roll call of
over 800 customers across Asia Pacific, including some
of the largest IP networks in Australia.
The skills of NetStar’s 300 staff were a major attraction,
too, with strong Cisco network integration and data
centre skills and major infrastructure-as-a-service (IaaS)
clients including SingTel. We have been delighted to
welcome this talented workforce into the wider
Logicalis Group.
www.logicalis.com
13 Logicalis Annual review 2010 13

20. TelePresence: an immersive experience
For participants in a TelePresence session, it’s surprisingly
easy to forget that they’re not in the same room – or even
the same country – as the people they’re ‘meeting’. Life-
sized images of other attendees, full eye contact and spatial
sound are just some of the ways that the illusion is created.
It’s turbo-charged videoconferencing that brings virtual
meetings to life.
Our TelePresence methodology is designed to bring
customers all the benefits of the immersive, face-to-face
meeting experience that this technology offers – and we’re
using it internally, too, with TelePresence suites in four cities
worldwide: London, São Paulo, Buenos Aires and
Farmington Hills, Michigan.

21. WHERE
can technology help to
bridge the geographic
distances that stand
between your organisation’s
employees, its partners
and its suppliers?
LOGICALIS
KNOWS WHERE.

22. BUSI N E SS K NOW-hOW ACrOSS
PUBLIC &
Pr I VAT E
SEC TOr S
Logicalis can help transform organisations We provide consultation and
with an infrastructure that supports services to both public and private
innovative, collaborative applications sector organisations such as
and improves business agility. We make education, financial services, health,
it easier for our customers to share skills local government, manufacturing,
and knowledge, to make fast decisions distribution, retail and media.
and move swiftly to exploit change.
www.logicalis.com
14 Logicalis Annual review 2010 14

23. Education – Higher education institutions Government – Logicalis provides local and Health – GE Healthcare (UK), University
worldwide rely on Logicalis to provide the central government organisations around the Hospital Bonn (Germany) and Hospital de
innovative technology needed by students, world with the secure, compliant infrastructure Pediatría S.A.M.I.C. (Argentina) are among
faculty and support staff to achieve excellence solutions they need to deliver a wide range of a growing number of healthcare organisations
in learning and research. These include innovative, efficient services to citizens. that trust Logicalis to provide the ICT
Nottingham Trent University (UK), Swinburne infrastructure that is now critical to the delivery
University (Australia) and the Universidad of high-quality patient information and optimal
Argentina de la Empresa (Argentina). medical outcomes.
Financial Services – Logicalis provides ICT Manufacturing – Logicalis has helped
solutions and services to some of the world’s most streamline supply chains, increase productivity
respected retail and private banking institutions and eliminate downtime for manufacturing
and hedge funds. Santander relies on Logicalis organisations of all sizes and in many different
for the provision of infrastructure support across areas of the world, including Mercury Marine
its operations in Brazil, Argentina, Chile, Uruguay, (USA), ABB (Australia, China and Germany)
Germany and the UK. In Asia Pacific, Logicalis and Ambev (South America).
works with Taishin Bank and SKL in Taiwan.
www.logicalis.com
15 Logicalis Annual review 2010 15

24. I N T E r NAT IONA L
OPErATIONS
North America South America
Headquartered in Farmington Hills, Michigan, Logicalis US Logicalis’ South American operation has its main offices in
has more than 20 regional offices and around 500 employees São Paulo (Brazil) and Buenos Aires (Argentina) and employs
supporting the full spectrum of ICT solutions. 550 staff. The company also has a local presence in Chile,
Paraguay, Peru and Uruguay.
The company has a broad portfolio of communications and
enterprise computing solutions through its equal standing The company is now the largest independent integrator for Cisco
partnerships with Cisco, HP and IBM. Its recent focus has throughout the region and a major supplier to the leading telecoms
been on augmenting its services business and, in particular, providers. Special acknowledgement goes to Logicalis in South
its Enterprise Cloud Computing services offering. America for winning six Cisco Partner awards this year, including
Global Technology Excellence Partner of the Year, in recognition
Today, around 30% of the company’s employees are engaged of its significant expertise in the delivery of Cisco solutions and services.
in services roles applying their specialist expertise in Professional
and Managed Services. Logicalis South America will continue to leverage its recognised
expertise in data centre solutions and is developing its managed
services capability across the region.
Awards Awards
* IBM’s 2010 Beacon Award * Cisco Global Technology
for the Outstanding Power Excellence Partner of the
Systems Solution for Major Year (Emerging Markets)
Markets category * Cisco Technology
Enterprise Partner of
the Year – Virtualisation
(LATAM – Emerging West)
* Cisco Enterprise Partner
of the Year (LATAM –
Emerging West)
* Cisco Technology
Percentage contribution Percentage contribution Excellence Partner of
to Group revenue to Group revenue
Percentage contribution to Group revenue
40% 23%
Percentage contribution to Group revenue the Year – Virtualisation
40% 23% (Brazil – Emerging West)
* Cisco Service Provider
Headcount Headcount Partner of the Year –
500 550
(Brazil – Emerging West)
* Cisco Enterprise Partner
of the Year (Emerging
West – Southern Cone)
employees employees
16 Logicalis Annual review 2010

25. Europe Asia Pacific
Logicalis has its headquarters in Slough, UK with local offices In January 2010, Logicalis acquired NetStar, a leading IP network
in the UK and Germany employing 480 staff. The UK operation, services provider in Asia Pacific with capabilities and expertise
with offices in Slough, London, Warrington, Cardiff and Livingston, across data, voice and security infrastructure. Now fully integrated
has adopted a hybrid sales approach to delivering multi-vendor into the Logicalis Group, and rebranded as NetstarLogicalis, the
integrated solutions across IBM, Cisco, HP, Microsoft and other company has three main units centred in Australia, Singapore and
complementary technologies, and has a rich services offering Taiwan, with further operations in Malaysia, Hong Kong and China.
with major investment in its Managed Services and Data
Centre facilities. NetStar’s network of offices across the Asia Pacific region,
combined with its primary Network Operations Centre in Malaysia,
With its headquarters in Cologne, Logicalis Germany has has the facilities to support the needs of multinational corporations,
a strong presence in both the North Rhein Westphalia (the largest and currently services over 800 customers across the Asia Pacific
economic area in Germany by GDP) and the Berlin markets. The region, including some of the largest IP networks in Australia.
company is very important strategically to Logicalis for its ability
to target new business opportunities within the Euro zone. This will be a key focus region for Logicalis to invest and increase
its activities.
Awards
* Cisco European Data
Centre and Virtualisation
Partner of the Year
* Cisco Data Centre and
Virtualisation Partner of
the Year – (UK&I)
* HP Data Centre Specialist
of the Year (UK&I)
Percentage contribution
Percentage contribution
to Group revenue
to Group revenue Percentage contribution to Group revenue
1%(represents six weeks trading only –
1% (represents six weeks’ trading
36%
Percentage contribution to Group revenue
36% only – 16 Jan 2010 to 28 Feb 2010)
16 January 2010 – 28 February 2010)
Headcount Headcount
480
employees
300
employees
www.logicalis.com 17

26. OU r
COrPOrATE
SOCIAL r E SPONSI BI L I T y
Logicalis’ policy is to actively and enthusiastically
support the welfare of its people, the environment
and local communities wherever we have a presence.
Our People As an early adopter of Green ICT ideas and activities,
01
Logicalis aims to be an employer of choice; Logicalis recognises that a responsible attitude to
attracting, developing and retaining the best people. Green ICT can lead to significant reductions in energy
Our personnel practices ensure that every employee, consumption and carbon emissions. As well as
wherever they work, whatever their role, is treated reducing greenhouse gases and operational costs,
equally, fairly and respectfully at all times. Adherence the technologies we promote, such as remote working
to international health and safety standards ensures and video and teleconferencing, enable more flexible
that our people are properly protected and cared for, working, greater productivity and improved business
wherever they operate. continuity. Green ICT is good for the planet and it’s
good for business.
Logicalis maintains consistent and transparent
02
diversity policies across all our markets. We firmly Community
believe that career opportunity, recognition and Logicalis encourages our operating companies in
reward should be determined by a person’s every territory to create initiatives that help improve the
capabilities and achievement, not their age, sex, race, quality of life for their local communities. Here are just
religion or nationality. Wherever we operate, Logicalis a few highlights:
strives to maintain a workforce that reflects the skills,
ethnicity and demographics of the local population. During the 2009 holiday season, Logicalis US donated
$25,000 to 32 charities in communities where its
Logicalis recognises that it is the ideas, skills and employees work and live. Their support of these local
01 Arizona Animal Welfare capabilities of our people that drives our development charities made a big difference. They also continued
02 Gleaners Food Bank and growth. In return, Logicalis will invest in whatever to make donations to Big Brothers, Big Sisters of
03 Asylo João Evangelista training and resources our people need to ensure that Metropolitan Detroit.
04 CCA Santa Teresa de Jesus
05 Pump Aid they are able to develop and grow with us.
In addition, Logicalis US has a ‘Give Back to
Environment the Community’ programme through which each
As a responsible international provider of ICT solutions, employee is allowed to take off eight hours of work
Logicalis seeks to measure and minimise the way in time each year to support charities of their choice.
which any of our commercial activities may impact Logicalis US utilises VolunteerMatch to track employee
the environment. We are also committed to providing volunteer hours (in excess of 4,000 since April 2008),
practical advice and support to our customers and celebrate individual and group volunteer efforts, and
suppliers to help them along the path to ever cleaner provide access to thousands of volunteer opportunities
and greener ICT solutions. in local communities.
18 Logicalis Annual review 2010

27. For the fourth year in succession, Logicalis UK made In Brazil, PromonLogicalis continues to support
03
donations to the Berkshire Community Foundation Junior Achievement, an organisation that teaches
which provides grants to local voluntary groups to children about work readiness and entrepreneurship.
support grassroots projects. These include young A new programme was also established last year –
people with special needs, the disabled, the elderly the PromonLogicalis Volunteer Programme, providing
and the homeless. education, work readiness, and social movements to
children in the communities of São Paulo and Rio de
Logicalis UK also changed its drinking water supplier Janeiro, supported through the following charities:
and, in doing so, is now sponsoring Pump Aid, a Ação Comunitária, Asylo João Evangelista, CAMP
charity that provides access to clean drinking water Vila Isabel, CCA Santa Teresa de Jesus, Gotas de
and safe, adequate sanitation to those in need in Flor com Amor and Lar Escola Recanto Cristão.
04
Zimbabwe, Malawi and Liberia.
Another of these charities associated with the
Logicalis Southern Cone in South America participates programme is Ser Cidadão, which provides vocational
in a recycling programme to support the Foundation of education for adolescents and young adults from
Garrahan Hospital in Argentina, focused on complex poor communities. Formally set up four years ago,
treatments for children. The programme consists of the association has a 20-year history grounded in
office collections of disposable paper and plastic caps, the activities developed by the Educação de Trabalho
to be donated to the Foundation for recycling. (Education for Work) programme.
Another ecological initiative was the participation
05 in the ‘A todo pulmón’ campaign in Paraguay. Logicalis
employees committed to planting a tree to support
the environment.
They also contributed to local community
organisations which help children, such as A.D.A.N.D.
and San Jose Providente; and made a donation
to EGB Nº98 School, which needed technological
equipment to develop a project for the improvement
of writing and reading skills.
www.logicalis.com 19

28. FI NA NCI A L
OVErVIEW
Expansion of geographic footprint Revenue percentage geographical split Revenue percentage geographical split
The acquisition of NetStar in the Asia Pacific 2009 2010
2 2
region in January 2010, centred in Australia,
Singapore and Taiwan, with operations also in
Malaysia, Hong Kong and China, establishes
an Asia Pacific footprint for Logicalis and
provides the capabilities to support the needs 1
of multinational customers in the region.
1 3
4 3
4
5
1 North America 40% 1 North America 40%
2 South America 28% 2 South America 23%
3 UK 31% 3 UK 34%
4 Germany 1% 4 Germany 2%
5 Asia Pacific 1% (acquired January 2010)
Increased services Revenue segmental split Revenue segmental split
Logicalis increased its annuity business in 2009 2010
the 2010 financial year by 17%. Maintenance, 1 1
Professional and Managed Services now
equate to 23% of revenues, and continued 2 2
growth is expected in the annuity-based
managed services portfolio with the launch
of our cloud services solutions. 3
3
1 Product 81% 1 Product 77%
2 Professional Services 9% 2 Professional Services 9%
3 Maintenance and Managed Services 10% 3 Maintenance and Managed Services 14%
23%
Services business providing consulting,
design and integration, support, hosting
and managed services.
20 Logicalis Annual review 2010

29. Balanced vendor partner mix Revenue product vendor mix percentage Revenue product vendor mix percentage
With the 2009 financial year boosted by 2009 2010
2 2
an extraordinarily large Cisco project for 3
3
a telecommunications company, the 2010
financial year performance provided a
more balanced split of vendor sales across
the Group.
4 4
1
1
1 IBM 27% 1 IBM 31%
2 Cisco 44% 2 Cisco 40%
3 Others 12% 3 Others 11%
4 HP 17% 4 HP 18%
Gross margins remained steady at 22% Gross margin percentage
Despite product margins being under pressure,
35.1
particularly in the USA for both HP and IBM
products, the improved services mix kept the 28.1 28.7
overall margin similar to last year. 24.4
21.3 22.1 22.2
20.4 20.6
18.3 18.6
UK Germany North America South America Asia Pacific Total
2009 2010
www.logicalis.com 21

30. BOA r D OF
DIrECTOrS
Jens Montanana Ian Cook
Chairman Chief Executive Officer
Jens is the founder and chief architect behind Ian Cook joined Logicalis as CEO, European
Datatec, which he established in 1986, and also Operations in 2003 and became CEO of Logicalis
Chairman of Logicalis since March 2007. Between Group in March 2007. Since then, Logicalis has
1989 and 1993, Jens served as Managing Director become an international brand and a respected
and Vice-President of US Robotics (UK), a wholly partner of the major technology vendors.
owned subsidiary of US Robotics which was
acquired by 3Com. In 1993, he co-founded US Ian has extensive experience in the technology
start-up Xedia Corporation in Boston, MA, an early industry spanning more than 25 years. He joined
pioneer of network switching and one of the market Logicalis from Damovo where he had extensive
leaders in IP bandwidth management, which was involvement in international operations as Chief
subsequently sold to Lucent Corporation. In 1994, Operating Officer (COO).
Jens became Chairman and Chief Executive Officer
Prior to Damovo in 1990, Ian led the Board of
(CEO) of Datatec which listed on the Johannesburg
Cablestream which became Siemens Network
Stock Exchange in November 1994 and on the
Systems Ltd (now Affiniti), one of the UK’s leading
Alternative Investment Market of the London Stock
network integrators. Over a 10-year period at SNSL,
Exchange in 2006. Jens is Non-Executive Director of
he rose to Group Managing Director responsible for
Versatile Systems, Inc. a Toronto and London listed
operations across Europe. Previously, he was Sales
Canadian company.
and Marketing Director at Case Communications Ltd,
a manufacturer of data communications equipment
with operations in the UK, USA and Asia Pacific.
22 Logicalis Annual review 2010

31. Mark Rogers Nigel Drakeford-Lewis Ivan Dittrich
Chief Operating Officer Chief Financial Officer Non-Executive Director
Ivan is a Chartered Accountant and
Mark Rogers joined Logicalis in 2003 as Finance Nigel Drakeford-Lewis is a Fellow of the Institute of has been with Datatec for the past
Director for Logicalis UK, and in 2004 he became Chartered Accountants in England and Wales and 10 years. He was appointed as
Chief Financial Officer (CFO), European Operations. also has an honours degree in Economics and Non-Executive Director to the Logicalis
Board on 22 April 2008, and later
Since March 2007, he has taken on the role of COO Accountancy from Exeter University. Nigel joined became Datatec’s Group Finance
for Logicalis Group. Datatec in June 2000, initially to help build an Director on 1 May 2008. Previously,
advisory services division which was subsequently he was Group Corporate Director
Mark has extensive experience in the technology and Group Company Secretary
merged with Logicalis. He then moved across to
of Datatec for five years, as well as
and service sectors both in the UK and internationally. Logicalis Group in November 2000 to focus on the Corporate Finance Manager. Ivan
He spent 20 years at Racal Electronics/Thales of reshaping of Logicalis Group and help redefine successfully managed the Group’s
which 13 years were at Finance Director level within its strategic direction. Since April 2001, Nigel has dual listing in London during 2006.
divisions providing Managed Network Services, Prior to joining Datatec, Ivan worked
been CFO of the Group with responsibility for the for PriceWaterhouseCoopers
Telecoms and Survey, and Positioning Services. financial management and control of the operations in London.
While at Thales he was also Chairman of Citylink across 15 countries.
Telecommunications, a joint venture company which Luiz Fernando T. Rudge
Non-Executive Director
had secured a £1.2 billion, 20-year Private Finance After qualifying as a Chartered Accountant with Grant Luiz Rudge is Executive Director/
Initiative contract with London Underground. Also, Thornton, Nigel held senior financial positions with CFO and a member of the Board of
he has significant mergers and acquisitions (MA) Black Decker, Grand Metropolitan (now Diageo) Directors of Promon SA. Following the
experience, including the sale of Racal Telecom to and Dixons Group. Prior to joining Datatec, Nigel acquisition by Logicalis of a majority
stake in Promon Tecnologia in May
Global Crossing for £1 billion as well as experience in worked for five years as a senior consultant with 2008, Luiz then became Non-Executive
the acquisition and integration of smaller businesses. Arthur D Little on strategy, corporate finance and Director on the Logicalis Board.
performance improvement assignments, primarily
He started his finance career with Revlon where he He joined Promon SA in 1982 and
in the fixed and mobile telecommunications sector. served as Treasurer (1987–1991) and
qualified as a Chartered Management Accountant. Finance Director (1991–2001), when
he was elected to his current position.
He led several corporate finance deals
on behalf of Promon, including MA
transactions as well as financing
arrangements to support Promon’s
proprietary investments and its
contracts with clients. Prior to joining
Promon and in 1986/1987, Luiz was
engaged in foreign trade activities.
Luiz holds a BA degree in Business
Administration from Fundação Getulio
Vargas (FGV/São Paulo), he also
completed the M.A. programme in
Geography (Urban Development)
of the University College/University
of London and the Advanced
Management Program of the
Harvard Business School.
www.logicalis.com 23

32. FI NA NCI A L
rESULTS
Income statement – unaudited 2010 2009
US$m US$m
Revenue 840.6 1,007.4
Cost of sales (654.2) (785.7)
Gross profit 186.4 221.7
Administrative expenses (144.0) (164.6)
EBITDA 42.4 57.1
Depreciation of property, plant and equipment (5.9) (5.3)
Amortisation of intangible fixed assets (11.3) (12.3)
Operating profit 25.2 39.5
Net finance costs (3.3) (5.7)
Datatec management fees (2.8) (3.5)
Impairment of goodwill – (20.9)
Revaluation of minority interest buy-out liability (10.4) 13.7
Profit before tax 8.7 23.1
Tax on profit on ordinary activities (5.2) (14.6)
Profit for the year for continuing operations 3.5 8.5
Profit from discontinued operations – 10.3
Profit for the year 3.5 18.8
Balance sheet – unaudited 2010 2009
US$m US$m
Goodwill and other intangible assets 154.0 139.6
Property, plant and equipment 29.4 13.6
Deferred tax asset 15.3 11.9
Total non-current assets 198.7 165.1
Inventories 33.7 20.0
Trade and other receivables 254.9 202.4
Cash and cash equivalents 82.8 40.9
Total current assets 371.4 263.3
Total assets 570.1 428.4
Trade and other payables (299.1) (213.8)
Bank overdrafts and loans (6.1) 0.0
Deferred consideration on acquisition of subsidiaries (14.2) (11.4)
Total current liabilities (319.4) (225.2)
Net current assets 52.0 38.1
Amounts owed to holding company and fellow subsidiaries (47.1) (31.3)
Obligations under finance leases (5.5) (7.7)
Liability for minority interest buy-out (32.6) (22.2)
Deferred consideration on acquisition of subsidiaries 0.0 (11.5)
Deferred tax liabilities (15.8) (10.7)
Other long term liabilities (7.8) (1.1)
Total non-current liabilities (108.8) (84.5)
Total liabilities (428.2) (309.7)
Net assets 141.9 118.7
Share capital and share premium 130.2 130.2
Minority interest buy-out reserve (32.6) (22.2)
Foreign currency exchange and other non-distributable reserves (35.4) (49.1)
Retained earnings 52.2 39.6
Attributable to equity holders of the parent 114.4 98.5
Minority interest 27.5 20.2
Total equity 141.9 118.7
24 Logicalis Annual review 2010

33. OU r
SUBSIDIArIES
Percentage held
Statutory name Country of Incorp. 2010 2009
Holding company
Logicalis Group Limited England and Wales 100% 100%
Subsidiaries of Logicalis Group Limited
Logicalis Group Services Limited England and Wales 100% 100%
Logicalis UK Limited England and Wales 100% 100%
Promon-Logicalis Latin America Limited England and Wales 70% 70%
Logicalis Limited England and Wales 100% 100%
Logical Group Limited England and Wales 100% 100%
Satelcom Limited (dormant) England and Wales 100% 100%
Logicalis Computing Solutions Ltd (dormant) England and Wales 100% 100%
Hawke Systems Ltd (dormant) England and Wales 100% 100%
T.B.C. Group Limited (dormant) England and Wales 100% 100%
TBC Limited (dormant)* England and Wales 100% 100%
Logicalis Computing Solutions Finance Limited (dormant)* England and Wales 100% 100%
Logicalis (Ireland) Limited Ireland 100% 100%
Logicalis GmbH* Germany 100% N/A
Logicalis Deutschland GmbH Germany 100% 100%
Logicalis Networks GmbH* Germany 100% 100%
Logicalis (US) Holdings, Inc. USA 100% 100%
Logicalis, Inc.* USA 100% 100%
ActiveSymbols, Inc. USA N/A 100%
Logicalis South America Inc.* USA 70% 70%
PromonLogicalis Tecnologia e Participacoes Ltda* Brazil 70% 70%
PTLS Comercio, Exportacao e Importacao de Equipamentos de Telecommunicacao Ltda* Brazil 70% 70%
PLLAL International LLC* Brazil 70% 70%
Logicalis Brasil Servicos de Assessoria Tecnica Ltda* Brazil 70% 70%
Logicalis Argentina S.A.* Argentina 70% 70%
X-Net Cuyo S.A.* Argentina 70% 70%
Logicalis Uruguay S.A.* Uruguay 70% 70%
Logicalis Inc. S.A.* Uruguay 70% 70%
Logicalis Paraguay S.A.* Paraguay 70% 70%
Logicalis Chile S.A.* Chile 70% 70%
Logicalis Andina S.A.C.* Peru 70% 70%
NetStar Group Holding Limited British Virgin Islands 100% N/A
NetStar Australia Holding (BVI) Limited (dormant)* British Virgin Islands 100% N/A
NetStar Asia Holding (BVI) Limited (dormant)* British Virgin Islands 100% N/A
NetstarLogicalis Australia Pty Limited* Australia 100% N/A
nVisage GNC Malaysia Sdn Bhd* Malaysia 100% N/A
NetstarLogicalis Malaysia Sdn Bhd* Malaysia 100% N/A
NetstarLogicalis Singapore Pte Limited* Singapore 100% N/A
NetstarLogicalis Shanghai Limited* China 100% N/A
NetstarLogicalis Xiamen Limited* China 100% N/A
NetstarLogicalis Hong Kong Limited* Hong Kong 100% N/A
Note: * indicates a subsidiary which is owned indirectly via an intermediate holding company.
www.logicalis.com 25

34. Logicalis Group
110 Buckingham Avenue
Slough
Berkshire
SL1 4PF
Tel: +44 (0)1753 777 200
www.logicalis.com
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