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Solid first-half results

EDITORIAL

D. Lamouche

Despite the difficult economic climate, in the first six months of 2009 Bull succeeded in maintaining its momentum. Our on-going work to transform the company – as well as the investments we are making in innovation – have further strengthened the Group’s position. This has resulted in:

  • An increase in orders across all the Group’s core business activities
  • Revenue growth
  • And a consistent level of profitability despite the difficult economic environment.

Thanks to the sustained momentum of our 'Extreme computing' (HPC) offerings, and the continued success of our other IT infrastructure activities, we have recorded a 15.8% increase in revenues in our ‘Hardware and Systems’ business segment. We are also energetically pursuing moves to refocus our portfolio of business activities, so we can continue to improve the quality of our revenues. As a result, margins in our ‘Services and Solutions’ and ‘Maintenance and PRS’ segments both improved during the first six months of the year.

Since January, we have accelerated the development and implementation of new offerings designed to help you come through the current crisis even stronger. In effect, digital technologies can help to support you in two ways: defensive actions aimed at delivering immediate cost savings; and proactive initiatives focused on innovation, the key lever for escaping the crisis.

Computer simulation, in particular, enables you to develop new products and services extremely rapidly, immediately reducing ‘time to market’. Bull is actively involved in the acceleration of growth of the digital economy and innovation in Europe, opening up the way towards ‘Extreme Computing’ with the launch of bullx™, our new generation of supercomputers. This move is totally in line with our strategy to become one of the top three in Extreme Computing. We are continuing to grow very successfully and strongly in this area, to the point where our HPC solutions became the Group’s leading server offering during the first six months of this year.

Given our very encouraging performance in the first half of 2009, we are increasing our target EBIT for the full 2009 financial year. And – because we remain convinced that investment and innovation are vital to escape the recession – Bull is continuing its renewal with the recruitment of more new talents. In 2009, we are planning to bring 500 new people on board, more than half of them in France, continuing the spectacular regeneration of our skills: what better proof of confidence in the future?

All our teams are ready to help ensure that your projects are successful.

Didier Lamouche
Chairman and Chief Executive Officer