2017 product strategy: investments and first results

Sales up 8%: €12,165,000

Net profit up 11.6%: €566,000


Lyon, May 2, 2018

SBT achieved a steady increase in its consolidated sales (+8%), reaching €12,165,000 (or +€893,000 compared to 2016). Against a backdrop of strong investments to build an expanded product offer, profitability remains at the same level as last year with a net profit after taxes of €566,000, or 4.6% of sales. EBITDA represents 10% of sales. The workforce grew significantly by 18% (or 84 employees as of December 31, 2017) to ensure the 2020 growth plan.

A single acquisition, which had little impact on the consolidated financial statement, was completed in 2016 (Twincorp). Sales growth is thus largely organic, demonstrating the relevance of the model implemented by management.

Consolidated sales (€K) 2017 2016 Variation in €K
Sales 12,165 11,272 + 893
EBITDA 1,237 1,221 + 16
Net profit from consolidated companies 566 506 + 60


On December 31, 2017, the SBT group had a solid balance sheet structure with growing shareholder equity amounting to €6,256,000 (+€542,000), financial debts of €874,000 (+€429,000) in connection with the acquisition of Twincorp and the relocation of the Lyon and Paris sites, and a cash holding of €856,000 (-€568,000).


Increased integration of the Consulting & HR Division

SBT offers enriched services integrating the various activities of the group’s subsidiaries (strategic consulting, assessment, development, coaching). Eliminating internal billing, the Consulting and HR Division contributed €9.5 million, closing the financial year with an increase of €539,000 (+6.7%).

Major highlights included integrating the coaching activity into the offer and gradually accelerating the Learn activity.


Continued growth for the Health Division

The Health Division contributed €2.6 million to consolidated sales in 2017, an increase of nearly 18%, while maintaining a profitability of approximately 10%, or €255,000.

HappyNeuron stands out as the Francophone market leader for cognitive remediation platforms designed for healthcare professionals. Significant investments were made beginning in 2017 with the aim of extending this position internationally, particularly in the North American market, in order to take advantage of the excellent references already obtained by the platform.


2016, SBT continues to grow

Sales up by 10.7%: €11.3 million

Stable net income +1.6%: €506,000


SBT (FR0004175222, MLSBT) is a group specializing in consulting and development of innovative services that integrate new technologies, cognitive engineering, and neuroscience.

In 2016, SBT saw continued growth in its consolidated turnover (+10.7%), which reached €11,272,000 (or +€1,088,000 compared to 2015). In a context of investments (increased resources and staffing), profitability remains satisfactory with a net profit of €506,000 after taxes, or 4.5% of turnover.

As no acquisitions were made in 2016, growth in sales is entirely organic, demonstrating the relevance of the model implemented by management.

Consolidated sales (€K) 2016 2015 Variation in €K
Sales 11,272 10,184 + 1,088
EBITDA 1,221 847 + 374
Net income of consolidated companies 506 497 + 9


On December 31, 2016, the SBT Group had a solid balance sheet structure with shareholder equity amounting to €5,714,000 (+€537,000), financial debts decreasing to €445,000 (-€213,000) and €1,414,000 in cash holdings (+139,000€).


The Consulting and HR Division internationalizes

All of the division’s activities reported growth in sales. Arnava recorded strong growth (+24%), reaping the rewards of a strategic reorientation. OSE Consulting experienced steady growth (+8%), and Symétrix grew moderately (1.3%) due to management and team restructuring carried out throughout the year. The Consulting & HR division generated €8.9 million in sales for a net profit of €423,000 (including a €290,000 SBT SA debt cancellation for Symétrix, which was granted to facilitate restructuring).

The main highlights included the opening of two subsidiaries: one in New York and the other in Hong Kong to support large accounts, open new markets, and continue digitalizing the HR consulting business (assessment, coaching, development, etc.).


The Health Division solidifies growth.


The expected commercial synergies resulting from the acquisition of Motus’ business assets are taking root and speeding up growth. The Health Division increased turnover by nearly 30% in 2016 to €2.2 million while maintaining the same 14% profitability for a total of €274,000.


In particular, HappyNeuron once again increased its penetration rate among healthcare professionals by relying on a service offer recently strengthened by the arrival of a new platform integrating its activities and allowing professionals to manage their patient programs.


Sales up 15.9%: €10.184 million

Net income +51%: €0.497 million

SBT, Scientific Brain Training, (FR0004175222, MLSBT) is a group specializing in consulting and development of innovative services that integrate new technologies, cognitive engineering, and neuroscience.

In 2015, SBT enjoyed a significant increase in consolidated sales (+15.9%), reaching €10.184 million (or +€1.4 million compared to 2014) under satisfactory profitability conditions with a net profit after tax and before goodwill of €497,000, or 4.9% of sales.

Good organic sales growth, +11,8%, was boosted by sales in the second half of the year provided by the acquisition of the business assets of MOTUS, a health sector company.

Results for the 2015 financial year (January 1 – December 31)

Consolidated sales in €K 2015 2014 Variation
Sales 10,184.9 8,782.2 +1,402.7
EBITDA 847.9 1074,1 -226.2
Net income of integrated companies 497.6 329.2 +168.4


On December 31, 2015, the Group had a solid balance sheet structure with shareholder equity amounting to €5.17 million (+€0.2 million), financial debts of €760,000 (+€451,000) and €1.25 million in cash holdings.


Consolidation of the Consulting & HR Division

After record growth in 2014, the Consulting & HR Division continued its sales growth, posting an increase of 14% (€8.405 million) with slightly less profitability than in 2014.

There were two major highlights for 2015:

  • A necessary increase in staffing to continue investing in the development of a broader range of innovative services for key accounts
  • A necessary adaptation within the Symetrix Digital Learning subsidiary, both in terms of the offer strategy and the organization of the production and management control processes.


Significant turnaround in Health Division results

Following the merger of two entities in the Health division and the acquisition of MOTUS’s business assets in the summer of 2015, the performance of the healthcare business continued the growth pattern begun in 2014. Consolidated sales grew by 37% to reach €1.64 million (compared to €1.19 million in 2014) and the net income of integrated companies rose sharply from €68,000 to €246,000.

This strong growth confirms the importance of the chosen strategy for developing the business.


In 2016, the SBT Group intends to pursue its growth strategy while improving its profitability.


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)

in €K




6 945

5 399

Operating income



Operating results



Net result before consolidated goodwill



Net income, group share



During the financial year 2013, OSE Consulting was integrated on 1st May 2013. In addition, on 20 December, SBT purchased 6.25% of the capital of its subsidiary Symetrix, which will enable it to incorporate it into its tax consolidation group from 1st December 2014.


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

Actus Lyon

Tel.: 00 33 4 72 18 04 93