SII : Revenue for the first half of 2023-2024
Paris, November 14, 2022 – 6 p.m.
Revenue for the first half of 2023-2024: €538.4m
Growth of 12.8%
Business in France up 7.6 percent
International operations up 16.5 percent
SII Group, which specialises in engineering business, has announced its semester revenue for 2023-2024 financial year.
Eric Matteucci, Chairman of the Management Board commented: “Overall, business over the first half of the 2023-2024 financial year is in line with the scenario announced at the start of the year, which is good news. Unsurprisingly, the second quarter of the 2023-2024 financial year confirms the slowdown in growth. The macroeconomic context continues to darken. We must rely on the Group’s strengths to take advantage of all the opportunities that our teams, whose performance I applaud, will encounter over the coming months.”
| In €m 1st half (to September 30) | 2022-2023 | 2023-2024 | Change | Organic change* |
| First quarter revenue | 238.45 | 269.32 | +12.9% | +10.1% |
| Second quarter revenue | 238.75 | 269.03 | +12.8% | +8.0% |
| Six month revenue | 477.20 | 538.35 | +12.8% | +9.5% |
| of which: France | 199.18 | 214.36 | +7.6% | +3.4% |
| of which: International | 278.02 | 323.99 | +16.5% | +13.8% |
* excluding external growth and exchange rate effects (exchange rate 2022-2023 applied to 2023-2024 revenue)
The SII Group, a specialist in engineering businesses, posted revenue of €538.1 million for the first half of the 2023-2024 financial year, up 12.8% despite three fewer working days. The second quarter saw growth of 12.8% to €269.0 million. With the exception of Germany and the UK, all countries are experiencing a slowdown. Against this backdrop, we would like to highlight the performance of all our teams.
Stable growth in France
In France, the SII group registered revenues of €100.5 million over this second quarter of the 2023-2024 financial year, representing stable organic growth for the past three quarters.
Overall, for the entire half-year, total revenue of €214.4 million was generated in France, up 7.6% (including 3.4% of a like-for-like basis).
The AREH (Activity Rate Excluding H
Stronger international growth
Internationally, the SII group recorded quarterly revenue of €164.0 million, up 15.8% (of which 11.1% on a like-for-like basis) compared with the second quarter of the previous financial year. A number of countries continued to report strong quarterly organic growth: Poland (+9%), Germany (+42%), Romania (+30%) and the Czech Republic (+47%).
For the first half, international sales increased by 16.5% to €324.0 million (13.8% on a like-for-like basis).
The various activity rates are holding up well and should enable us to maintain a satisfactory operating profit rate.
Outlook
Revenues in the first semester are in line with the targets set at the start of the year. Given the lower level of activity rate in the first half of the year, the operating margin should be at the lower end of the announced range, i.e. close to 9%. Looking beyond the first half of the year, the limited visibility means that we have to look ahead quarter by quarter. Our objective for the third quarter of the 2023-2024 financial year is to achieve sales growth of between 7% and 10%.
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Next financial announcement:
Fiscal 2023-2024 half-year financial results, Tuesday, November 29, 2023, after the close of trading
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Contacts:
SII - Eric Matteucci: +33(0)142 848 222
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ATTACHEMENT: Revenue by quarter
| In €m | Q1 2023-2024 | Q2 2023-2024 | H1 2023-2024 |
| France | 109.36 | 105.00 | 214.36 |
| Change of which: organic growth* | +7.3% +3.3% | +8.0% +3.5% | +7.6% +3.4% |
| International operations | 159.96 | 164.03 | 323.99 |
| Change of which: organic growth* | +17.1% +15.2% | +15.9% +11.1% | +16.5% +13.8% |
| SII Group Total | 269.32 | 269.03 | 538.35 |
| Change of which: organic growth* | +12.9% +10.1% | +12.8% +8.0% | +12.8% +9.5% |
*: excluding external growth and exchange rate effects (exchange rate 2022-2023 applied to 2023-2024 revenue)
About SII
Founded in 1979 by qualified engineer Bernard Huvé, the SII Group’s activity is balanced between engineering and technology consulting (ETC) and digital services (DSC).
The SII Group provides employment for more than 16,000 people, structured in a way that offers all the responsiveness and flexibility of a local service. It operates in 18 different countries across four continents throughout 80 locations with full operational capabilities. Each year, the SII Group recruits over 4,000 consultants and engineers on average. On a daily basis, these committed individuals strive to develop and integrate new technologies within future products and services, and to continuously enhance our clients’ information systems.
Always looking to provide innovative, value-added solutions, the SII Group works with major international groups in a variety of sectors, including Aeronautics, Defence, Space, Banking, Insurance, Telecommunications, Energy, Retail, Automotive, Transport and Industry. Certified EcoVadis Platinum and a Great Place to Work, the SII Group stands out for its social policy focused on creating a digital, sustainable world and its corporate culture firmly rooted in quality of work life and inclusion.
In the 2022-2023 financial year, which ended on March 31, 2023, SII Group recorded revenues of €1,022.5 million.
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