SII : - Fiscal 2011-2012 First Half Financials Results

Paris, November 29, 2011

SII's first-half revenue for fiscal 2011-2012 increased by 17.2 percent from the same period a year ago, to €119.75 million. Organic growth was 15.6 percent, as the group outperformed both the French sector as a whole and its principal competitors. Progress achieved in the first three months of the year continued in the second quarter, when sales rose by 16.7 percent.

Business in France was up 9 percent on a like-for-like basis, to €92.2 million, reflecting an increase in orders from the principal major accounts as well as the company's strong position in the work-package segment.
SII's international operations generated aggregate revenue of €27.6 million, up 57.7 percent for the period. They now account for 23 percent of the group's total business. This sharp growth reflected sustained high demand in the principal countries where the SII group operates.

In response to the growth of its business and a slight increase in staff turnover, SII hired 740 new employees during the period. This brought the size of its workforce from 3,402 on March 31 to 3,786 on September 30, 2011.

(1)The business value-added tax (Cotisation sur la Valeur Ajoutée - CVAE), which has replaced the former business tax, has been recognized on the books as a tax and affects the level of operating income.

Average bench-time rose slightly during the period, to 5.4 percent or close to the standard rate for the industry.
As a result, and with international operations accounting for an increased share of the business mix, SII's operating income rose by 38.3 percent to €7.62 million. This represents a gross margin of 6.36 percent (or 7.45 net of the CVAE tax), an improvement of almost one full point from a year ago. With financing costs under control and a slight drop in the tax rate, the group posted net income after minority interests of €4.79 million, a 44.2-percent increase.
Strong growth in the period, combined with spending for development and longer payment terms for some large customers caused an increase in cash needs during the first half. Nevertheless, the group had a sizeable cash balance of €10 million on September 30,
2011.

The darkening economic and financial outlook since last summer has made it harder to anticipate how business will evolve in the second half. While remaining prudent in light of the uncertain environment, SII confirms the objectives it set for itself for fiscal 2011-2012, i.e. revenue in excess of 250 million euros and an increase in operating income of more than 15 percent. In order to reach these goals, the group will continue to rely on the quality of its relationship with major clients, the diversification of its customer base and fast-growing international operations.

February 14, 2012, after the close of trading.

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SII - Eric Matteucci - Tel.: 01 42 84 82 22

Media relations: CM-CIC Emetteur - Stéphanie Stahr - Tel.: 01 45 96 77 83

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As a trusted technology partner, SII provides high value-added solutions for the IT projects of many large corporations. It relies on a staff of expert engineers and on methods at the cutting edge of quality standards to carry out its activities in:

- Technology Consulting (IT, electronics and telecommunications), which accounts for 54% of

its business, and

- Systems Integration (IT technology and networks), which accounts for 46% of the total.

SII has opted for a corporate structure that offers the responsiveness and flexibility associated with local-level services, with nine regional offices in France and ten more in other countries, all of which have access to all of the Group's operational resources and can provide effective services to major corporations.

The Group posted revenue of €222.1m in fiscal 2010-2011, which ended March 31, 2011, up strongly from the previous year. Year after year, SII has been expanding its profitable operations and its growth has significantly outpaced that of other firms in its sector.

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