Infotel Reports €149.1m Revenue in H1 2024 Amid Market Challenges

Infotel, a prominent digital transformation partner in Europe, announced its H1 2024 revenue, totaling €149.1m. This marks a 5.8% decline compared to H1 2023, reflecting resilience amid tough market conditions.

Despite a 6% revenue drop in Q2 2024, key sectors showed varied performance. The Banking/Finance sector's revenue share decreased to 37.4% from 39.8%, but a recovery since June is noted. The Industry sector maintained stable revenue, while the Services/Transport sector grew its contribution from 18% to 19.5%, driven by ongoing projects at Air France and Enedis.

Infotel's investments in artificial intelligence have started yielding results, with new contracts in language migration. The company's total headcount reached 3,288 by end-June 2024, with a low inter-contract rate of 3.6%. The Software business saw a 7% revenue increase in Q2 2024, thanks to new contracts, such as with Corsair.

The outlook for H2 2024 is positive, aiming for a return to growth, bolstered by recent strategic investments and expected rebounds in key sectors.