A year of transformation and structuring
An increase in turnover of 29%
A much more balanced operating income
SBT, Scientific Brain Training, (FR0004175222, MLSBT), a group specializing in advisory services developing innovative services incorporating new technologies, cognitive engineering and neurosciences, today announced its annual results for the financial year ending 31 December 2013.
Structuring of the Group’s business into 2 activities
In 2013, new areas of expertise were brought into the company; OSE Consulting, a strategy and management consultancy firm, was acquired, this was the highlight of the year for us. This operation prompted the SBT Group to reorganize its business into 2 activities: a Consultancy and Human Resources division and a Smart Health division.
- The Consultancy and Human Resources division covers the value chain from strategy consultancy services to detecting and developing talent, as well as the design of multi-channel training programs (face-to-face teaching and e-learning).
- The target clientele of the Smart Health division primarily includes healthcare professionals and the general public. It designs, develops and sells applications and interactive software for a large range of uses, both in terms of target populations (children, adults, seniors), pathologies (dyslexia, attention deficit syndrome, Alzheimer’s disease, multiple sclerosis, etc.), and situations (at home, with a practitioner or at the workplace).
Setting up this new organization is one of the key factors of the development strategy the company is implementing in order to build firm foundations for the future, and to take advantage of a strong growth market.
Consolidated results (from 1st January to 31 December)
|Net result before consolidated goodwill||
|Net income, group share||
The consolidated turnover increased by 29% compared with 2012 thanks, in particular, to the integration of OSE Consulting (an additional turnover of €1,598 K over the financial year) and a good level of performance of the subsidiary, Arnava.
Operating income was stable, compared with a loss in 2012 of €190 K, thanks to the measures implemented to optimize costs, the positive contribution of bringing the OSE Consulting Group into the tax consolidation group and the strong growth in the income of the subsidiary, Arnava. This recovery is all the more significant given the particularly difficult start to 2013, leading at the end of the first semester to negative operating income of €-347 K.
These operating results are affected by a provision for contingencies of €200 K for a license that the company granted to its Brazilian partner in 2010. The net result before consolidated goodwill was adversely affected by exceptional outlay (direct costs and provisions) for a restructuring project carried out at Symetrix and HAPPYneuron in order to ensure positive results in 2014.
EBITDA is € +282 K.
Over the period, the research tax credit came to €66 K, compared with €88 K in 2012.
Balance sheet items. As of 31 December 2013, the Group had a solid financial structure with company capital of € 5.04 million, financial debts of € 0.33 million, and funds of €0.89 million, giving it the resources to continue to develop securely.
Implementation of a medium-term development plan
SBT, with a clear differentiating structure based on two activities, is implementing a development plan to speed up its profitable organic growth and to double in size 4 to 5 years from now.
This target is based on solid strengths that place the SBT Group among the main competitors in these markets:
- A very high level of understanding of the neurosciences, and in particular cognitive sciences, combined with recognized expertise in creating and using new technologies.
- A highly innovative dimension with an R&D center that enjoys a budget of over 5% of the turnover, ensuring the legitimacy of the company’s offering.
- A range that now comprises stimulation and cognitive remediation programs in the « Digital Brain Health » market, estimated to be worth $6 billion by 2020.
- A Consultancy and Human Resources division that shows high growth-potential with our portfolio of key accounts, as the strong growth recorded since mid-2013 demonstrates.
Franck Tarpin-Bernard PhD, Managing Director of the SBT Group
Amalia Naveira/Marie-Claude Triquet
Tel.: 00 33 4 72 18 04 93