DEVOTEAM: Revenues up 9% over the first 9 months of 2011
Paris, November 8th 2011
Unaudited figures
In millions of Euros Q3 2011 Q3 2010 Change 9m 2011 9m 2010 Change
Revenues 121.9 118.2 +3% 390.5 358.4 +9%
Operating margin (1) 6 .4 6 .3 +2% 19.4 1 9 .3 +1%
In % of revenues 5.2% 5.3% 5.0% 5.4% 1) Defined as current operating profit excluding the impact of stock options and amortization of intangible assets resulting from acquisitions.

Devoteam (NYSE Euronext Paris: DVT) reported 390 million revenues in the first nine months of 2011, an increase of 9% over the same period last year, or 4% excluding revenues from acquisitions and currency effects.

The operating margin for the quarter stood at 5% of revenues or 19.4 million Euros.
Quarterly performance analysis

The Group reported revenues of 122 million Euros in the third quarter of 2011, an increase of 3% over the same period last year and 1% excluding acquisitions and exchange rates fluctuations. th
The Group headcount stood at 4,817 employees on September 30 , 2011, reflecting an increase of 80 consultants over the quarter and a decrease in the number of non billable employees.

The operating margin for the quarter increased 2% compared to the same quarter last year, reaching a value of 6.4 million Euros. Excluding Wola Info in Poland, the operating margin represented 5.7% of revenues compared to 5.3% last year.

Quarterly financials by operating group and geographic region
In millions of Euros France International Technology Business
Consulting (**) Consulting (**)
Revenue Contribution 54.7 67.2 101.8 20.1
Annual growth +1% +5% +1% +12%
Organic growth (*) +1% +2% -1% +14%

(*) excluding revenues from acquisitions and currency effects
(**) Following a change in the organization in the Netherlands, 1.9 M of revenues included in Business Consulting in Q3 2010 are now part of Technology

Consulting figures. The growth figures in this table have been restated to allow comparison.
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