> Financial release, February the 8th of 1999

OBJECTIVES SURPASSED IN 1998 CONSOLIDATED TURNOVER GROWTH OF 50%

 The consolidated turnover as at 31 December 1998 surpasses the objectives and reaches 2.867 MFRF (437 M), an increase of 50% compared with the prior year.

 The consolidated turnover taken into account related to companies acquired in 1998 amounts to 105 MFRF (16 M). Excluding the impact of the 1997 and 1998 acquisitions, the internal growth of consolidated turnover is 35%.

 The increase in turnover for the fourth quarter 1998 relative to the fourth quarter 1997 is 46%, with the proportion of acquisitions in the fourth quarter 1998 inferior to that of the fourth quarter 1997. During this period five companies joined the group, one in Switzerland, one in Italy, one in Great Britain, one in Austria, and one in France. Their core activities are similar to those of the group.

 In two years from 1996 to 1998 the turnover has more than doubled. We are confident that we can achieve the target of one billion euros for the year 2002; only 23% growth a year from 1999 would be necessary to reach it.



COMPARISON OF TURNOVER BETWEEN 1998 AND 1997


 CONSOLIDATED 
 TURNOVERS

19981997

 Thousands
of FRF
Thousands 
of  
 Thousands
of FRF
Thousands 
of  

 First quarter
577 79688 084 381 93358 225 

 Second quarter
686 213104 613 445 01467 842 

 Third quarter
716 231109 189 476 57472 653 

 Fourth quarter
887 150135 245 607 34692 589 

 TOTAL
2 867 390437 131 1 910 867291 309