For the year ended December 31, 2004, Altran recorded a net loss of 2.1m euros ($2.8m), up from a net loss of 92.0m euros ($119.6m) the previous year, on revenue that increased by 6% to 1.3bn euros ($1.7bn). However, an operating margin of 4.3% in the second half of the year was short of forecasts of 5%, and well below Altran’s aim of over 10%, stated at the start of 2004. In the results announcement, the company did not make any forecasts for the coming year.
Over the course of 2004, Altran reduced its net debt to 379.4m euros ($493.8m) from 381.7m euros ($496.7m).
The results round off what has been a traumatic year for Paris-based Altran. In July 2004, a formal investigation into the company’s full-year 2001 and 2002 accounts was launched. Two months later co-founder and vice president Hubert Martigny, managing director Michel Friedlander, and deputy managing director Jean-Michel Martin all resigned.
