Message from Simon Azoulay

1988-2008* : ALTEN, a solid Group and a key player

Over the past twenty years ALTEN Group has won its clients' trust through its ability to support them on ever more strategic and complex projects.
Once again, 2008 – the 20th year since the company's formation – has affirmed the Group's strength and continuous growth. With greater than 20% average growth and generating €846.3 million in sales, the Group has consolidated its international presence which constitutes 26.3% of its business, mainly in Germany, the Benelux region, Spain, Italy, the United Kingdom and Sweden.

3,000 engineers joined the Group's workforce in 2008 (850 after the impact of turnover) as well as 1,100 consultants gained through 8 acquisitions, 5 of which took place overseas.
88% of the Group is made up of engineers and senior level consultants. It remains one of the most dynamic recruiters of scientific professionals in Europe.

In this promising and competitive market,ALTEN has captured market share mainly in the Energy, Rail, Aeronautical and Banking sectors.
In addition, ALTEN Group was listed as an E2S "preferred supplier for engineering" for EADS Group throughout the world, a mark of confidence for our customers and powerful recognition for our teams.

* Founded in 1988 by three engineers with degrees from top engineering schools, over the past 20 years ALTEN has become the key technological partner for the largest European companies.

Competitiveness affirmed in the face of demanding customers

Operating profit remained above 11%, holding steady at a very high level and continuing to lead its market thanks to a strong activity ratio (94%).

ALTEN Group has endured constant pressure on its rates, stress on its employees due to the lack of engineers and the consolidation of acquired companies with weak profitability. Thanks to its complete control of fixed costs, operating profit increased by 15% to €97.2 million, i.e. 11.5% of turnover.
We have observed considerable improvement in operating income outside of France.

A clear package and a consistent position

ALTEN Group has strengthened its position in consulting, but has also consolidated its project management, work package and fixed-price packages.
The Group's Offshore and Nearshore solutions provide optimal assistance to our customers' overall programmes.

With nearly 11,300 employees including 88% of enfineers and consultants at the end of 2009, ALTEN remains the European leader in Technology Engineering and Consulting.
With the strength of its position, its critical size and its international presence, ALTEN is a key player in its market, which is composed of approximately 10 main players and a multitude of local companies.

The challenge in 2009: Protecting our business

The ALTEN Group has the strongest possible foundation from which to confront the current crisis. 2009 will be marked by a drop in our customers' activities, mainly in the automotive sector. Nevertheless, due to a multi-sector presence and a wide range of skills, this decline in activity will remain under control thanks to demand in the Energy, Rail, Aeronautics and Defence sectors.
Operating margin will be reduced due to the lower activity ratio and rate pressures imposed by the Purchasing Departments of major corporations, in the context of this difficult competitive climate. The convergence of continued cuts in supplier lists and the economic crisis should enable our Group to strengthen its market share with its main customers in France and abroad.

At the same time, we want to continue our growth by taking advantage of opportunities for acquisitions in promising sectors and by strengthening our multi-specialist position.

"We remain confident in the strength of the ALTEN model and in our ability to build a competitive future with our customers, building innovative products and competitiveness. We will remain practical and cautious throughout this period, and we are determined to fully contribute to the economic recovery."