ASSYSTEM: First-half 2023 consolidated revenue ans outlook for full-year 2023
July 25 2023 - 11:35AM
ASSYSTEM: First-half 2023 consolidated revenue ans outlook for
full-year 2023
First-half
2023 consolidated revenue
and outlook for full-year
2023
Paris-La Défense, 25
July, 5.35 p.m. (CEST) – Assystem S.A. (ISIN: FR0000074148
- ASY), an international engineering group, today released its
revenue figures for the six months ended 30 June 2023 (first-half
2023).
First-half
2023 consolidated
revenue and year-on-year changes
(unaudited)
In € millions |
H1 2022 |
H1 2023 |
Total year-on-year change |
Like-for-like year-on-year change |
Group |
241.7 |
282.5 |
+16.9% |
+13.9% |
|
|
|
|
|
Nuclear(1) |
171.7 |
198.1 |
+15.4% |
+15.8% |
ET&I(1) |
69.9 |
84.4 |
+20.6% |
+9.1% |
|
|
|
|
|
(1) Consolidation of the UK company
LogiKal since 1 December 2022 and of Oreka Ingénierie and Relsafe
PRA Consulting since 1 January 2023.
Assystem’s business activities in the Pacific area (due to be sold
in 2023) represented €5.0 million in revenue in H1 2022 and €6.3
million in H1 2023.
Assystem’s consolidated revenue totalled €282.5
million in the first half of 2023, up 16.9% on first-half 2022. The
year-on-year increase breaks down as 13.9% in like-for-like growth,
a positive 3.9% impact from changes in the scope of consolidation
(due to the consolidation of UK-based LogiKal since 1 December 2022
and of Oreka Ingénierie and Relsafe PRA Consulting since 1 January
2023), and a 0.9% negative currency effect.
The Group’s solid like-for-like growth was
driven by robust demand in all of our businesses, as well as by the
success of our recruitment campaign carried out upstream of
projects as from Q4 2022, enabling the planned number of
employees to be reached.
NUCLEAR
(70% of
consolidated revenue)
Revenue from Nuclear activities totalled €198.1
million versus €171.7 million in the first half of 2022. This 15.4%
year-on-year increase includes 15.8% like-for-like growth, a
positive 0.4% impact from changes in the scope of consolidation,
and a negative 0.9% currency effect. Growth for this segment was
buoyant in France, very buoyant in the United Kingdom, and all of
the Group’s other geographic regions posted revenue increases. As a
reminder, like-for-like growth reached a low point in first-half
2022.
ENERGY TRANSITION & INFRASTRUCTURES
(ET&I)
ET&I revenue came to €84.4 million in the
first half of 2023, compared with €69.9 million in first-half 2022.
Total year-on-year growth was 20.6%, breaking down as 9.1%
like-for-like growth, a positive 12.3% impact from changes in the
scope of consolidation, and a negative 0.8% currency effect.The
increasing contribution of siting studies as part of the Group’s
major infrastructure contracts in Saudi Arabia since the
second quarter of 2022 has now steadied, at a high level compared
with 2022.
OUTLOOK FOR FULL-YEAR 2023
Assystem has signed an agreement to sell its
business activities in the Pacific area – Assystem Polynésie and
Assystem Nouvelle-Calédonie – to the current management of those
two companies. Subject to the fulfilment of certain conditions
precedent, the sale is due to close by the end of 2023, enabling
Assystem to complete its strategic refocusing.
Taking into account this disposal, Assystem’s
targets for full-year 2023 are as follows:
- consolidated revenue of around €570
million;
- and EBITA(1) of around €35
million.
These targets are based on the assumption that the
macroeconomic, geopolitical and public health context will remain
similar to the situation in the first half of the year.
2023 FINANCIAL CALENDAR
- 13
September: First-half
2023 results release – Results presentation on 14 September at 8.30
a.m. (CEST)
- 26 October:
Third-quarter 2023
revenue release
ABOUT ASSYSTEM
Assystem, one of the world's leading independent
nuclear engineering companies, is committed to accelerating the
energy transition. With more than 55 years of experience in highly
regulated sectors with stringent safety and security constraints,
the Group provides engineering services as well as digital
solutions and services to optimise the performance of complex
infrastructure assets throughout their life cycle. In its 12
countries of operation, Assystem’s 6,500 experts are supporting
energy transition. To achieve an affordable low carbon energy
supply, Assystem is committed to the development of low carbon
electricity (nuclear, renewables and electricity grids) and clean
hydrogen. The Group is also helping drive the use of low carbon
electricity in industrial sectors such as transportation.
For more information please visit
www.assystem.com / Follow Assystem on Twitter: @Assystem
CONTACTS
Malène Korvin – Chief Financial Officer –
mkorvin@assystem.com - Tel.: +33 (0)1 41 25 29 00
Anne-Charlotte Dagorn – Communications Director
– acdagorn@assystem.com - Tel.: +33 (0)6 83 03 70 29
Agnès Villeret –
Komodo – Investor relations –
agnes.villeret@agence-komodo.com – Tel.: +33 (0)6 83 28 04 15
(1) Operating profit before non-recurring items (EBITA – Earning
Before Interest and Taxes – from Activity) including share of
profit of equity accounted investees (other than Expleo Group).
QUARTERLY REVENUE
In € millions |
Q1 2022reported |
Q1 2022restated(1) |
Q1 2023 |
Total year-on-year change(2) |
Like-for-likeyear-on-year change(2) |
|
Group(3) |
129.1 |
120.2 |
143.8 |
+19.7% |
+16.4% |
|
|
|
|
|
|
|
|
Nuclear |
87.7 |
87.7 |
100.9 |
+15.0% |
+15.7% |
|
ET&I(1) |
41.4 |
32.5 |
42.9 |
+32.1% |
+18.3% |
|
|
|
|
|
|
|
In € millions |
|
Q2 2022 |
Q2 2023 |
Total year-on-year change(2) |
Like-for-likeyear-on-year change(2) |
|
Group(3) |
|
121.5 |
138.6 |
+14.1% |
+11.4% |
|
|
|
|
|
|
|
|
Nuclear |
|
84.0 |
97.2 |
+15.7% |
+16.2% |
|
ET&I(1) |
|
37.4 |
41.4 |
+10.7% |
+0.7% |
|
|
|
|
|
|
|
(1) On 19 July 2022, Assystem entered
into an agreement to sell 51% of the shares and voting rights of
MPH – the company heading up Assystem’s Staffing business – to
MPH’s management. This sale was completed in January 2023.
Consequently, the reported figures for first-quarter 2022 have been
restated in order to provide meaningful comparisons with
first-quarter 2023.(2) The figures for “Total
year-on-year change” and “Like-for-like year-on-year change” (i.e.
based on a comparable scope of consolidation and constant exchange
rates) have been calculated based on the 2022 reference quarter (Q1
restated and Q2 reported).(3) Consolidation of the UK
company LogiKal since 1 December 2022 and of Oreka Ingénierie and
Relsafe PRA Consulting since 1 January 2023.
- ASSYSTEM CP CA S1 2023 _ eng VDEF 2
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