> Financial release, April the 29th of 1998

1997 RESULTS :
A 38 % GROWTH IN CONSOLIDATED NET RESULT

 The consolidated net result for the 1997 financial year, before amortization of goodwill, is set at 187.5 million francs for a consolidated turnover of 1911 million francs, hence a 38 % progression of net result despite increased taxation on companies in France.

 The improvement during the second semester of the trading result (+ 62 % compared to the 1st semester) has two origins :

  • a strong increase in turnover (+ 31 % compared to the previous semester) that allowed us to absorb the increase in structural expenses related to a more important turnover volume.
  • the increasing contribution of the European subsidiairies to this result.

     The net result, before amortization of goodwill, for the second semester of 1997 comes out to 10.2 % (compared to 9.3 % in the 1st semester), which corresponds to what was announced in our previous release.
    The group can thus expect to maintain in 1998 a net result rate before amortization of goodwill of around 10 %.

    CONSOLIDATED ACCOUNTS : SIGNIFICANT FIGURES
    (in thousands of francs, audit in progress)

      1997 1996 Variations
    Turnover 1 910 867 1 380 511 +38%
    Trading result 320 827 216 570 +47%
    NET RESULT (before amortization of goodwill) 187 521 135 687 +38%
    Net result for the group 172 198 125 449 +37%


    SIMPLIFICATION OF THE LEGAL STRUCTURES
    OF THE ALTRAN GROUP

     The Administrative Board has approved the principle of an absorption merger of the company ALTRAN INTERNATIONAL by ALTRAN TECHNOLOGIES.
    ALTRAN INTERNATIONAL is the holding company of the group that brings together the founders, the MATIGNON INVESTISSEMENT fund and the leading executives. Its assets are made up exclusively of ALTRAN TECHNOLOGIES shares (48.9 % of the capital and 65.5 % of voting rights). Basing ourselves on a transparent analysis of the re-evaluated net assets, this merger project will be carried out on a parity basis of 16 ALTRAN TECHNOLOGIES shares for 9 ALTRAN INTERNATIONAL shares.

     This operation will not dilute the ALTRAN TECHNOLOGIES shareholders and generally speaking it will not have any impact on the way the company's capital is currently run.
    This operation, which will soon be definitely set, will be described in a pre COB-registered informational document and submitted for approval to a Mixed General Assembly that will be convened on June 25, 1998.