Annual revenue for 2010 amounted to €237.1m, 5.7% growth compared to 2009 (3.5% at constant exchange rates). This growth accelerated in late 2010, amounting to 13.8% in the final quarter of the year (9.7% at constant exchange rates).

The operating income amounts to €13.8m, taking into account non-recurring operating expenses of €1.6M. These expenses include €0.7m relating to debt restructuring, €0.5m for closure of the Romanian subsidiary and depreciation of Goodwill in the USA of €0.4m. The resultant operating margin is 5.8% compared to 1.9% in 2009.

The Group share of net income is €6.4m (2009: €0.4m) after net interest charges of €3.1m and taxation charges of €4.6m.

Strong control of working capital and increased profitability led to positive cash flows of €13.1m resulting in cash balances of €18.1m at the end of the year, compared to €5.0m at the end of 2009.

All financial ratios have been improved with a reduction of the financial debt and interest, and increased profitability and equity. The gearing ratio (net financial debt / equity) is 60% at 31 December 2010 (2009: 80%). The net financial debt is 1.4 times EBITDA (2009: 4) and EBITDA is 6.9 times the net financial costs (2009: 2.2). The resulting financial ratios enable compliance with bank covenants.

Patrick Bensabat, CEO at Business & Decision, comments: "The Group returned to highest activity levels in 2010 and these results confirm our strategic direction and leadership in chosen markets. "

Outlook

In 2011, the Group will continue consolidation of activities with a focus on revenue and profitability. The Groups position as specialist in its chosen markets and its capacity to adapt to new challenges leaves it well positioned to continue to develop its French and international operations.

Upcoming Financial Events :

April 28th 2011: Publication of 2011 first quarter turnover at 5:35 pm
June 23rd 2011: Shareholders Annual General Meeting (Paris, 5:35 pm)
July 27th 2011: Publication of 2011 first half turnover at 5:35 pm
August 31st 2011: Publication of 2011 first half results at 17 :35 pm
August 31st 2011: Analysts and investors meeting- following the publication of 2011 first half results at 5:35 pm
October 27th 2011: Publication of 2011 third quarter turnover at 5:35 pm
January 31st 2012: Publication of 2011 full year turnover at 5 :35 pm

About Business & Decision
Business & Decision is an international Consulting and Systems Integration (CSI) company. It is a leader in Business Intelligence (BI) and Customer Relationship Management (CRM), and a major player in e-Business, Enterprise Information Management (EIM), Enterprise Solutions as well as Management Consulting. Business & Decision contributes to the success of customer projects by driving maximum business performance. The company has a reputation for functional and technological expertise and has forged partnerships with all of the key technology vendors.
Located in 19 countries, Business & Decision currently employs near 2800 people worldwide.
Additional information is available at www.businessdecision.com

CONTACT

Investor Relations
Business & Decision
Tel: +33 (0)1 56 21 21 20
Fax: +33 (0)1 56 21 21 22
finance@businessdecision.com