Geci International: FIRST-HALF 2022-23 REVENUE


GECI International, a specialist in Digital and Technologies, further strengthened its development during the first half of 2022-23, with revenue up by +16.4%. This performance confirms the Group’s growth objectives for 2022-23.



GECI International recorded consolidated revenue of €9.77 million in the first half of 2022-23, up +16.4% year-on-year (+15.9% at constant exchange rates), confirming its development robust.

This development capitalizes on the Group’s redeployment around the high value-added Digital and Technology markets, and in particular high-performance computing (HPC), financial IT and telecoms in Brazil. This redeployment made it possible to compensate for the slowdown in IT outsourcing and telecom activities in France, as well as the withdrawal from activities in South Africa.[1].

As of September 30, 2022, the breakdown of the Group’s consolidated revenue was as follows: 76.4% in France and 23.3% in Brazil. It includes a positive currency effect in Brazil for €0.04 million, or 0.4% of revenue, given the appreciation of the Brazilian real against the euro during the first half of this year. .

At the end of September 2022, the Group had a total of 442 employees, compared to 439 at the end of March 2022 and 491 at the end of September 2021. This temporary reduction in the global workforce is mainly linked to the completion of a telecommunications project in Brazil, the rationalization of the administrative team and the end of the contract in South Africa.

At the same time, as part of its redeployment, the Group is continuing to develop its international recruitment network and technological and commercial partnerships.



(under review) Apr. 2022 to Sep. 2022
(6 months)
Apr 2021 to Sep 2021
(6 months)
To change
€m % of turn €m % of turn (%)
Business Division
Digital 5.93 60.7% 4.77 56.9% +24.3%
Technologies 3.83 39.3% 3.62 43.1% +5.9%
Half-year turnover 9.77 100% 8:40 am 100% +16.4%
France 7.47 76.4% 6.41 76.3% +16.5%
Brazil 2.27 23.3% 1.76 20.9% +29.5%
South Africa 0.00 0.0% 0.23 2.7% n / A
Israel 0.03 0.3% 0.00 0.1% ns
Half-year turnover 9.77 100% 8:40 am 100% +16.4%

The Digital pole (€5.9 million, representing 60.7% of half-year revenue) posted growth of +24.3% compared to the first half of the previous year. The contraction in IT outsourcing activities (-6.5%) was offset by the increase in HPC sales (+23.9%) and growth in Finance activities (+54.6%).

The Technology pole (€3.8 million, representing 39.3% of half-year revenue) is up +5.9% compared to the previous year. Telecoms activity in France was down -8.6% due to lower demand. However, the growth of the Brazilian subsidiary’s turnover (+27.1% at constant exchange rates), following the roll-out of major Telecom contracts signed over the past two years, has consolidated the subsidiary’s positioning.



The Group further strengthened its financial position by:

(i) strengthen its presence alongside its main project owners with an offer of solutions with higher added value, resulting in particular in a significant increase in income from banking and services activities (+54.6%) and high performance computing (+23.9%);

(ii) increase the average daily billing rate in France (+18.4% between April 2021 and October 2022).

The Group’s net financial debt amounted to €6.5 million at the end of September 2022 (figures currently being audited), including €2.9 million in financial debt, €0.7 million in restatement of rental charges, 3 €.4 million in debt related to the acquisition of the Eolen Group (put and vendor credit), €0.2 million for a partner current account and €0.7 million in cash.

Net financial debt is thus down by €1.1 million, i.e. -14.0% compared to March 2022 (€7.6 million). The partner current account concerns the reference shareholder XLP Holding, which contributed €0.2 million in August 2022 to support the Group’s development strategy.

During the first half of the 2022-23 financial year, the Group raised €1 million gross through the conversion of 100 ORNAN[2]. This refinancing enabled the Group to repay part of its debt and further strengthen its equity at the end of September 2022, through capital increases of the same amount.



The GECI International Group is redefining its strategy with its withdrawal from South Africa, the refocusing of its IT activity around finance and services, the development of HPC for industry and the expansion of its Telecom activity in transition to smart urban equipment and smart city solutions and products.

In this context of recovery and transformation, the Group is further strengthening its innovation strategy, combining technology and digital, to support its redeployment and serve high-potential markets – telecommunications, transport, renewable energies, financial IT and smart cities.

In the cybersecurity sector, the Group has also decided to focus its expertise on SOC (Security Operations Center) consulting, with an original offer of 24/7 multilingual services, in addition to suspending the distribution of software of cybersecurity.

GECI International benefits from technological alliances and innovation capabilities, in particular thanks to its network of alliances in France, Israel and Brazil, to support the development of its Digital and Technological activities, accelerate the convergence of its two divisions and meet the challenges of a new world in search of an energy transition and an economy adapted to the conditions of a rapidly changing planet.

For the current financial year, given the good trends observed, the Group forecasts double-digit growth in full-year sales.

Strengthened by the convergence of its Digital and Technological activities, the spirit of innovation that has guided the Group since its creation, its expert management of complex projects, and its ability to advance new technological companies, the Group aims to continue to advance its online development with a new roadmap for profitable growth, while diversifying its business model towards new growth drivers, particularly in the smart city sector.


2022-23 half-year results on December 16, 2022 (after market).


“Smart solutions for a smart world”

GECI International, driven by Innovation since its creation in 1980 and combining Technology and Digital, provides advanced digital solutions and technology consulting services to major players in the sectors of Industry, Finance, Research, Services and Telecoms.

GECI International is also deploying a robust new entrepreneurial approach with the development of new smart products and solutions for smart cities, through an ecosystem of technology partnerships, business alliances and highly skilled capabilities across the globe.

GECI International is listed on the Euronext Growth Paris market. ISIN (shares): FR0000079634 – ALGEC.



GECI International – Investor Relations
Tel: +33 (0)1 46 12 00 00 /

CALYPTUS – Cyril Combe
Tel: +33 (0)1 53 65 68 68 /

[1] The contract with ESKOM (energy) ended in November 2021.

[2] As authorized by the Extraordinary General Meeting of November 12, 2020, the Group set up financing on the same day for a total net nominal amount of up to €9.3 million by issuing a maximum of 1 000 ORNAN reserved for YA II PN, Ltd. During the first half of this year, the Group made two drawdowns of 50 ORNANs each on May 25, 2022 and July 27, 2022. There are still 450 ORNANs in circulation, representing a gross amount of €4.5 million.

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