Supporting Our Customers on Their Journey Annual Report and Accounts 2011 Our Business Model
Total Page：16
File Type：pdf, Size：1020Kb
Supporting our customers on their journey Annual Report and Accounts 2011 Our business model What we do Manage & Transform To improve quality and fl exibility of service while signifi cantly reducing costs Services provided Service Desk, Managed Workplace, Managed Network, Managed Datacenter, Managed Applications and Support & Maintenance Enhancing our customers’ The work we undertake is typically • Technologically or logistically complex journey by: • Multiple parallel projects • Innovating • Contract-based • Managing cost • Uses our core assets • Mitigating risk • Improving their service This creates Consult & Change advantages for Optimise technology, enabling their businesses: effective change • Smarter technology • On time and on budget Services provided • Better services Flexible Workplace, Borderless • Greater effi ciencies Network, Dynamic Datacenter, • Lower cost Unifi ed Communications & Collaboration and Secure Information The work we undertake is typically We do this by: • Medium to high complexity • Outcome-based projects • Using processes and tools • Referrals or existing customers that help ensure the outcomes • Uses our people’s technical skills • Collaborating with customers’ IT departments • Securing the best product for the solution through our vendor independence • Being fl exible in our approach • Hiring and retaining talent Source & Deploy Address customer technology requirements Services provided Smart Supply, Supply Chain Services, Lifecycle Management, Software Licensing and Compliant Disposals The work we undertake is typically • Medium to low complexity • Medium to high volume • Long-term repeat customers • Uses our core assets Revenue characteristics How it supports our strategy Predictability Provides Computacenter with long-term revenue visibility Typical contract length of fi ve years Customer requirement not normally affected by macro economy Accelerating the growth of our contractual services business Repeatability Delivering the predicted outcome on time and budget means we are well placed to Growing Maximising expand our scope of delivery our profi t the return on through increased Strategic working capital services and objectives and freeing working Typical project duration of 3-12 months high-end supply capital where not chain sales optimally used Project scale and value can be affected by macro economy Reducing cost through increased effi ciency and industrialisation of our service operations Scalability High customer loyalty allows us to manage our revenue visibility Order value varies signifi cantly Amount the customer spends can be affected by macro economy Market growth drivers Technological development The market Our customers are experiencing increased demand for Particularly in diffi cult economic times our customers look the latest technology in order for them to remain competitive. to reduce their costs through IT innovations. Geographical development Selective outsourcing Our customers increasingly want us to deliver our offerings There is less appetite to outsource IT to a single provider and to their locations worldwide, requiring us to expand our more for selective outsourcing, an environment we are well global partnerships. placed to compete in. Computacenter plc Annual Report and Accounts 2011 Supporting our customers on their journey We help our customers’ businesses perform better, smarter and deliver on time and on budget. We are Europe’s leading vendor independent IT infrastructure services provider. Our coverage Luxembourg Capellen Germany United Kingdom Belgium Berlin Hatfi eld Milton Keynes Brussels Erfurt Leeds Nottingham Frankfurt Manchester Romford Kerpen France Switzerland Paris Zurich Spain South Africa Malaysia Barcelona Cape Town Kuala Lumpur Datacenter Service Desk Operational Supply Chain Coverage Command Centre Overview Business review Financial statements 94 Independent auditor’s report 01 Chairman’s statement 16 Finance Director’s review 48 Independent auditor’s report 95 Company balance sheet 02 Operating review 20 Risk management 49 Consolidated income 96 Notes to the Company fi nancial 14 External view of the market 22 Corporate Sustainable statement statements by IDC Development (‘CSD’) 50 Consolidated statement 100 Group fi ve-year fi nancial review of comprehensive income 100 Group summary balance sheet Governance 51 Consolidated balance sheet 100 Financial calendar 26 Board of Directors 52 Consolidated statement 101 Corporate information 28 Corporate governance of changes in equity statement 53 Consolidated cash fl ow 32 Audit Committee report statement 34 Nomination Committee report 54 Notes to the consolidated 35 Remuneration Committee fi nancial statements report 93 Statement of Directors’ 43 Directors’ report responsibilities Computacenter plc Annual Report and Accounts 2011 01 Chairman’s Delivering long-term statement growth Revenue 2011 was a good year for our Company, more so given the (£m) +6.6% extraordinary economic environment. Our German unit had an outstanding year, growing revenue at 21.8 per cent in the face of 2011 2,852.3 stiff competition. In the UK, our revenue declined by 12.9 per cent, 2010 2,676.5 but we preserved our overall UK margin percentage and grew our 2009 2,503.2 Services order book signifi cantly, with six substantial contracts Overview 2008 2,560.1 closed in the last quarter alone. In France, continuous Adjusted* operating profi t improvement in operations, together with the acquisition of Top (£m) +12.6% Info, led to revenue growth of 33.1 per cent as well as enhanced profi tability. Our Belgian operation had its best year yet. 2011 72.5 2010 64.4 We continued to invest in our future, implementing our Group-wide 2009 53.9 ERP system in the UK and Germany and further improving our 2008 42.1 service delivery capabilities in all countries. We grew our international service support operations in Barcelona and South Africa and we Adjusted* diluted earnings per share acquired a signifi cantly larger property in the UK for our recycling (p) +13.3% operation, RDC. In total, we invested over £40 million of capital 2011 37.4 in strategic projects during 2011. These investments, together 2010 33.0 with those made in the recent past, have helped our results with adjusted* profi t before tax growing by 12.4 per cent to 2009 27.7 Business review 2008 21.0 £74.2 million and our annualised services contract base growing by 6.0 per cent to £563.6 million. Total dividend per share (p) +13.6% We face 2012 with confi dence, despite the unrelenting challenge of slow, or even no growth in GDP in Western Europe. We are 2011 15.0 focusing on those aspects we can control – customer support, 2010 13.2 margin growth and cash generation in the main. We remain 2009 11.0 dedicated to providing our customers with services that save 2008 8.2 them money and help them be more competitive, and continue to invest in our ability to support them. In this report, you will fi nd that we strive for clear and meaningful Governance Related subjects: description of all our activities and decisions, as well as continue Corporate Sustainable Development – page 22 our commitment to uphold high standards of governance in line Governance – page 28 with the UK Corporate Governance Code. We are far from satisfi ed with anything we do. The competition is fi erce, the economic environment uncertain, but our employees and customers have demonstrated resilience and loyalty, for which I thank them wholeheartedly. We shall work hard to earn that loyalty and in doing so, continue to deliver results that we can be pleased with. Greg Lock statements Financial Chairman 12 March 2012 * Adjusted profi t before tax is stated prior to amortisation of acquired intangibles and exceptional items. Adjusted operating profi t is also stated after charging fi nance costs on CSF. 02 Computacenter plc Annual Report and Accounts 2011 Operating A focused team, review creating value 2011 strategic objectives Accelerating the Reducing cost growth of our through increased contractual effi ciency and services business industrialisation of our service operations Progress against 2011 strategic objectives In 2011, our Group contract base grew We continue to invest and derive value by 6 per cent in constant currency. In from the Shared Services Factory, our addition (as announced on 16 December industrialised approach, which helps to 2011), the UK business has won a standardise customer engagement, number of additional Managed Services service offerings and also reduce the cost contracts, which had not started at of service delivery. This includes year-end, therefore have not been investments we have made in our included in the contracted services base. offshore service delivery capability, to These wins, combined with other take advantage of the lower costs important wins in Germany and France, available such as in South Africa. will provide robust contractual services In addition, we have made signifi cant base and revenue growth in 2012. The investments in industry leading tools, contracts also provide further evidence of for example, a £10 million investment in the continuing trend for large customers BMC Software to achieve further to selectively outsource IT Managed effi ciencies in our Managed Services Services to ‘best in class’ providers such offering. These investments enable us as Computacenter. to offer an enhanced service at lower cost in areas such as major incident management and the remote management of datacenter infrastructure. These are ongoing initiatives, which take time