A NOVO

Revenue by Strategic Business Area

• The 2nd quarter 2007/2008 revenue is at € 86.0M, up by 13.1% compared to the previous quarter (€76.0M).

In accordance with the IFRS5 standard, the revenue figures do not take into account discontinued activities, i.e. the assembly line in Malaga (€1.8M in the 2nd quarter, 2006/2007) and the United States (€4.5M in the 2nd quarter, 2006/2007 and €1.1M in the 2nd quarter, 2007/2008).

Mobility: mobile phones; Access: set-top boxes, infrastructure & network; Displays: flat panel displays & IT equipment

• At comparable perimeter** and constant exchange rate, revenue growth (excluding discontinued activities) is at 19.5% in the 2nd quarter (2007/08). The exchange rate impact is mainly due to the pound sterling, with a negative effect of 4.5 points on the growth rate.

Mobility:
The growth*** is at 15.6%, and is particularly strong in the United Kingdom thanks to the Group’s leadership position and the deployment of new service offers (products regeneration and logistics hubs).

Access:
This activity*** grew by 17.7%, thanks to the turnaround in France and the development of the triple play business in Europe. However, in the UK and Italy, growth was negative, penalised by the economic downturn and restructuring in the UK (closure of the Shipley site) and quality problems in Italy. These problems have since been resolved.

Multimedia / Displays:
Business expanded by 19.5%***, the dynamism due to the deployment of contracts with the Group’s major clients (HP, IBM, Samsung…) and new service offers for Retailers (logistics hubs and service extension). However, growth was slightly negative in the UK due to the delayed ramp-up of contracts (Dell...).

* core: activities excluding US in 2007/2008, assembly in Malaga in 2006/07 and Mediacall in 2006.
** excluding sold assets: in UK, ANOVO Mobile Services in April 2007; in Sweden, Vanesborg site in May 2007; and
excluding acquisitions: ANOVO On-site France in April 2007.
*** at constant exchange rate and perimeter.

H1 2007/2008 Revenue

• In general, all the regions enjoyed a two-digit growth, sustained by a favourable market context and the deployment of new service offers (hubs, products regeneration, warranty extension and on-site services). In H1 2007/2008, revenue is at €168.3M, up by 12.6%. At equivalent perimeter and exchange rate, it is €172.7M, up by 17.3% (see table below).

• Therefore, revenue for the full year 2007/2008 is expected to be more above €340M, compared to €297M (2006/07), i.e. over 13% organic growth. As indicated in the 14/02/08 press release (1st quarter 2007/08 revenues), the results will be impacted by the closure in the US, the closure of the Shipley site (UK) and the slower than expected ramp-up of new services at the Malaga site (Spain). However, these three issues having been dealt with, the results of the second half-year should improve significantly.

About ANOVO: With revenue of €317 million and 5,200 employees (2006/2007), ANOVO is the leading pan-European provider of maintenance and customisation services for the digital technologies used by major Telecommunications and Multimedia companies to deliver Triple Play (Voice/Data/Image) solutions. ANOVO runs more than 20 Centres of Excellence, and handles a high product turnover with an acknowledged level of quality. For more information, please visit our website www.a-novo.com.

Compartment C of Eurolistby EuronextTM Paris - ISIN: FR0004152593 (shares),
FR0000181174 (OCEANE convertible bonds), FR0000341174 (shares with warrants)
Bloomberg: NOVO FP, Reuters: ANOV.LN


ANOVO
François Lefebvre
CFO
Tel: +33 (0)1 58 17 00 81
flefebvre@a-novo.com