Paris, February 13, 2024 – 6 p.m.
Fiscal 2023-2024 third quarter revenue : €826.2m
Growth of 12.2% for the first 9 months
Business in France up 7.4 percent
International operations up 15.6 percent
SII Group, which specialises in engineering business, has announced its third quarter revenue for 2023-2024 fiscal year.
Eric Matteucci, Chairman of the Management Board, commented: “Unsurprisingly, the third quarter of
2023-2024 was a continuation of the previous months. The slowdown in growth continues in an uncertain macroeconomic context, with a wait-and-see attitude taking hold. Despite this unfavourable environment, the SII Group is proving resilient and continues to post growth. Our overall performance over the first 9 months of this financial year remains above that of our benchmark market. I would like to thank our teams and our customers for continuing on this path.”
| in €m 3rd quarter (to December 31) |
2022-2023 | 2023-2024 | Change | 0rganic change* |
| First quarter revenue | 238.45 | 269.32 | +12.9% | +10.1% |
| Second quarter revenue | 238.75 | 269.03 | +12.8% | +8.0% |
| Third quarter revenue | 259.31 | 287.81 | +11.0% | +6.0% |
| Nine-Month revenue | 736.51 | 826.16 | +12.2% | +8.4% |
| Of which: France | 308.80 | 331.65 | +7.4% | +3.2% |
| Of which: International | 427.71 | 494.51 | +15.6% | +12.1% |
* 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 €287.8 million for the third quarter of the 2023–2024 financial year, an 11.0% increase. This third quarter confirms the trend observed since the start of the financial year. Reflecting the macroeconomic context, all our main markets are experiencing weaker momentum than in the last two years.
Constant growth in France
In France, the SII Group recorded revenue of €117.3m in the third quarter of the 2023-2024 financial year, showing organic growth close to that of the first half of the year.
The Activity Rate Excluding Holidays (AREH) deteriorated again during the third quarter due to the time lag between recruitment and new projects. As a result, the quarterly operating margin for France has been impacted by this situation.
Stronger international growth
Internationally, the SII Group recorded revenue of €170.5m in the third quarter of the 2023-2024 financial year, up 13.9% (of which 8.1% on a like-for-like basis and at constant exchange rates) compared to the same quarter of the previous fiscal year. Although on a downward trend, some countries are still posting sustained growth on a like-for-like basis and at constant exchange rates: Poland (+7%), Germany (+28%), Romania (+22%) and Czech Republic (+26%).
In this context, operating margin outside France remains at a satisfactory level.
Outlook
The first few weeks of 2024 have not reversed the trend seen over the past 9 months. Annual revenue is expected to fall within a range of between €1.12 billion and €1.13 billion. This would represent annual revenue growth of around 10%, still outperforming our sector.
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Next financial announcement:
Fiscal 2023-2024 annual revenue, Tuesday, May14, 2024 after the close of trading
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Contacts :
SII – Eric Matteucci – : 01.42.84.82.22
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ATTACHEMENT: Revenue by quarter
| in €m
|
Q1 2023-2024 |
Q2 2023-2024 |
Q3 2023-2024 |
Nine-month 2023-2024 |
| France | 109.36 | 105.00 | 117.29 | 331.65 |
| Change of which organic* |
+7.3% +3.3% |
+8.0% +3.5% |
+7.0% +3.0% |
+7.4% +3.2% |
| International operations | 159.96 | 164.03 | 170.52 | 494.51 |
| Change of which organic* |
+17.1% +15.2% |
+15.9% +11.1% |
+13.9% +8.1% |
+15.6% +12.1% |
| SII Group Total | 269.32 | 269.03 | 287.81 | 826.16 |
| Change of which organic* |
+12.9% +10.1% |
+12.8% +8.0% |
+11.0% +6.0% |
+12.2% +8.4% |
* 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 20 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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