Operating income € 3,107,699 up 20.5% Consolidated accounts for 2005/2006 (IFRS norms) A profitability beyond the objectives Toulouse, 31st. October 2006 – <strong>IGE+XAO</strong> <strong>Group</strong> announces : <strong>PRESS</strong> <strong>RELEASE</strong> <strong>Group</strong> net income € 2,052,946 up 17.3 % In € 2005/2006 2004/2005 Increase Turnover 19,698,405 18,370,965 7.2% Other operating revenues (including operating tax credit) 333,993 211,273 58.1% Total operating revenues 20,032,398 18,582,238 7.8% Operating income 3,107,699 2,577,042 20.5% Net income – Own equity holding in <strong>Group</strong> 2,052,946 1,750,090 17.3% During 2005/2006, <strong>IGE+XAO</strong> entrenched its development with a turnover of € 19,698,405 an increase of 7.2% on the previous fiscal. On its plans for profitability, the Company’s performance is significant with an operating profit rising to € 3,107,699 up 20.5% and with the net income reaching € 2,052,946 an increase of 17.3%. The net margin of 10.4% of turnover thus achieved, underwrites the objective between 8% and 10% announced by the <strong>Group</strong> Board of Directors. At the same time, <strong>IGE+XAO</strong> strengthened its financial position with the absence of long-term financial debt, cash-at-bank of € 10,193,927 (€ 8,970,715 in 2004/2005), and a total shareholder’s equities of € 11,649,114 (€ 10,348,618 in 2004/2005). This very healthy financial position gives the <strong>Group</strong> the ability to achieve its commercial and technical development objectives. In 2005/2006, the <strong>Group</strong> thereby increased its international presence with the acquisition of its Swiss distributor Hibatec GmbH, the creation of a marketing subsidiary in the United States and the opening of a representative office in China. Significant commercial agreements have been signed notably with Schneider Electric in June 2006 and Embraer very recently in October 2006. On the technical plan, <strong>IGE+XAO</strong> has persuaded a large research and development effort in order to market in particular an integrated program to manage the life cycle of an electrical installation (PLM). Finally, and in accordance with <strong>IGE+XAO</strong> policy, the Board of Directors will propose at the Annual General Meeting, a dividend distribution amounting to € 350,800 compared to € 315,720 in 2004/2005.
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