SII : Covid-19 update: current situation for the SII group
Paris, 14 April 2020 – 6:00pm
Covid-19 update: current situation for the SII group
The SII group, an engineering business specialist, provides an update of its situation in the context of the Covid-19 epidemic:
In the context of the Covid-19 pandemic and the fight against its propagation, the SII group is following the decisions taken by governments in France and abroad in order to safeguard the health and safety of its staff.
In the frame of its business continuity plan, the SII group has taken all the necessary measures to protect its employees and their families and ensure the continuity of its services in order to pursue its activity and meet its customers’ needs. Teleworking has been set up at all sites and in all countries where the SII group has a presence thus ensuring the continuation of about 95% of its activities.
The SII group can count on the diversity of its customer portfolio which mainly comprises key accounts. All the teams remain fully mobilised in order to maintain activity. Most sectors have continued their activities remotely, with the exception of the Defence sector. However, the Group has noticed an overall drop in activity relating on the one hand to specific work stoppages (child care and people with health risks) and, on the other hand, to the cancellation or postponement of certain projects by many customers. In total, the rate of activity was 20% down by the end of the first three weeks following the start of confinement (16/03/2020). In geographic terms, France, Germany and Spain are currently the most affected.
After growth of about 9% over the first nine months of its financial year, the turnover for the 4th quarter ending on 31 March 2020 will be impacted by the health crisis. The turnover for the 2019/2020 financial year, expected to be between €685 and €695 million, namely organic growth of 8.5% to 9.5%, should be at the lower end of the scale or slightly below, according to the best forecasts currently available.
In parallel, the SII group is taking all the necessary financial measures to adapt to the situation. The SII group is expecting to see an impact for the financial year ended 31 March 2020 on its operational margin and its net margin which were expected to be stable for the year. The SII group will update these elements on 12 May 2020 after the stock market closes and its 2019/2020 annual revenues are published.
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Next meeting:
2019/2020 annual revenues, 12 May 2020 after market closing
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Contacts:
SII - Eric Matteucci - (: +33 (0)1.42.84.82.22
Financial Press Contact: CIC Market Solutions - Stéphanie Stahr - (: +33 (0)1.53.48.80.57
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About SII
Serving as a true partner for technology matters, SII Group provides solutions with added value to projects at major companies. Relying on teams of expert engineers and methods applying the highest quality standards, SII’s business has a balanced focus on:
- Technology consulting (IT, electronics, and telecoms),
- Digital services (technical IT and networks).
SII Group has organised itself to offer the responsiveness and flexibility of personalised service. SII has nine offices in France serving as profit centres with robust operational resources and the ability to support major international clients, serving companies in 18 countries on four continents.
In the 2018/2019 financial year, which ended on 31 March 2019, SII Group recorded revenues of €631.4 M, which was up by 12.6 % year-on-year (of which 13.1% was organic growth). SII Group is continuing its growth at a rate that is faster than its reference market.
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