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  5. 47% increase in profit before tax , record order book achieved of £6.5bn

Fujitsu Services posts record financial results

47% increase in profit before tax , record order book achieved of £6.5bn

June 26, 2006

Fujitsu Services Holdings PLC, one of Europe’s leading IT services companies, today announced its financial results for 2005/06. The company made an operating profit before rationalisation of £153.7 million and a profit before tax of £154.3 million in the year ended 31 March 2006, an increase of 47% from 2004/05. The company’s order book has grown to £6.5 billion. These numbers reflect International Financial Reporting Standards and comparisons are on a like for like basis. (Please see details below)

David Courtley, CEO commented, “I am delighted with the financial results for 2005/06. It proved an excellent year for Fujitsu Services with total revenues of £2,293.7 million, an increase of 16% from 2004/05. I believe it is our emphasis on continually looking at ways to deliver better services to our customers that has been responsible for the improved performance and revenue growth in both our government and commercial businesses.

He continued: “The year saw many significant contracts come through, including the e-HR programme for the Northern Ireland Civil Service and the Northern Ireland Office, the extension to the HMRC ASPIRE contract and the outsourced desktop service agreement with LloydsTSB. Our business in mainland Europe have also been rewarded, especially in the financial services and retail sectors, with new contracts being signed with the Spanish-based bank La Caixa and Auchan the France-based retail group.

During the previous financial year the Board took the decision that Fujitsu Services would adopt International Financial Reporting Standards and International Accounting. Standards as adopted by the European Union (collectively IFRS) on 1 April 2005. As such 2005/06 are the first results prepared according to IFRS, with 2004/05 results and balances sheets at 31 March 2004 and 31 March 2005 also being restated for IFRS.

The impact of IFRS for Fujitsu Services relates mainly to revenue recognition on long-term contracts and pension fund accounting. Revenues of £191 million and associated margins which would have been recognised in 2005/06 and subsequent years under UK GAAP have been recognised in earlier years under IFRS.

In addition Fujitsu Services liability in respect of the defined benefit pension schemes it operates has been brought on balance sheet under IAS19. Full details of the Group’s transition to IFRS can be found in the full financial statements of Fujitsu Services Holdings PLC.

Table of financial results (2004/05 results restated for IFRS):

2005/06
£m
2004/05
£m
Revenue2,293.71,978.7
Group operating profit before rationalisation153.7101.9
Group operating profit after rationalisation140.897.3
Profit before tax154.3105.2
Total Equity148.038.6
Net cash and cash equivalents107.483.4
Order6.5 bn6.0 bn

Nature of financial statements

This press release is not the full financial statements of Fujitsu Services Holdings PLC. The table of financial results contained in this release is an extract from the full financial statements for the year ended 31 March 2006. #

The report of the auditors on those financial statements was unqualified. The financial statements for the year ended 31 March 2006 will be delivered to the Registrar of Companies and copies will be available from The Company Secretary, 22 Baker Street, London, W1U 3BW."

Ref : 12/06

FUJITSU SERVICES

Mit einem Umsatz von mehr als 34 Mrd. EUR im Jahr 2006 zählt Fujitsu zu den drei größten IT-Services Unternehmen der Welt. Die Fujitsu Gruppe beschäftigt weltweit über 161.000 Mitarbeiter – hiervon sind nahezu 2.000 im Bereich SAP-Beratung tätig – und ist in 70 Ländern aktiv. Fujitsu Services ist das europäische IT-Services Unternehmen der Fujitsu Gruppe und gehört mit einem Jahresumsatz von EUR 3,59 Mrd. zu den führenden IT Services-Anbietern in EMEA. Fujitsu Services beschäftigt rund 22.000 Mitarbeiter und ist in mehr als 20 Ländern tätig. Die Fujitsu Services AG in der Schweiz entstand am 1.4.2002 durch die Umbenennung der ICL (Schweiz) AG, die seit 1976 auf dem Schweizer Markt vertreten ist. Hauptsitz der Fujitsu Services in der Schweiz ist Regensdorf. Weitere Niederlassungen befinden sich in Bern und Genf. Fujitsu Services beschäftigt in der Schweiz inkl. Tochterunternehmen rund 80 Mitarbeiter. Weitere Informationen: www.fujitsu.com/ch

Louise Matthews / Alistair Kent

Phone: Phone: +44 (0) 20 8759 0005
E-mail: E-mail: teamfujitsu@harvard.co.uk
Company:Harvard

Graham Goulden

Phone: Phone: + 44 (0) 1753 604736
Fax: + 44 (0) 1753 604669
E-mail: E-mail: graham.goulden@uk.fujitsu.com
Company:Fujitsu Services

Date: 26 June, 2006