Philippe Vannier, Chairman and CEO of Bull, commented: “Improving performance is the main priority for the Group and its senior management team. It is one of the cornerstones of the BullWay strategic plan published in Autumn 2010, which will be implemented over the course of the first half of 2011, most notably through the roll-out of a new organization structure. By effectively combining computing power with security, Bull now offers a portfolio of solutions whose technological relevance is recognized internationally and which our teams are determined to promote. The commitment of each and everyone who works for Bull has resulted in a significant increase in revenues in Q4, as well as an acceptable level of operating cash flow in 2010.”
2010 key figures
- +11,4% growth in order intake, representing 106% of revenues
- Significant increase in revenues: +12%. Bull has notably registered +20.2% increase in revenues in Q4 2010*
- Gross margin was €278.3 million, or 22.4% of revenues; the gross margin rate was 0.2 percentage points higher than in 2009
- EBIT in line with objectives with €35.5 million
- Strong generation of operational cash flow: €48.6 million
The Group is confirming its medium-term objectives published on 9 December 2010 as part of the unveiling of BullWay 2011-2013, its strategic plan for growth. BullWay 2011-2013 is a major step in the Group’s plan for growth featuring a strategy designed to capitalize on its fundamental strengths:
- Its technological expertise in computing power and security – both of which are now seen as major concerns for all types of organizations
- Its understanding of growth markets, especially the public sector, defense, finance and telecommunications
- Its historical geographic presence in rapidly growing economies such as Brazil.
Bull continued to pursue an active recruitment campaign; with the aim to take on 1,000 new staff in 2011.
For more information >>> http://www.wcm.bull.com/internet/pr/new_rend.jsp?DocId=635455&lang=en
*Revenues from the Amesys group, acquired in 2010, were €22.4 million over the period. At a like-for-like business structure 4Q10 revenues grew by 12.7%.