SII : Annual financial statements 2022-2023
Paris, June 6, 2023 – 6 p.m.
Annual financial
statements
2022-2023
The improvement in results
continues
Organic growth expected between 8 to 12
percentin S1
2023-2024
SII Group,
a
specialist
in engineering business lines, is announcing its 2022-2023
annual results, which were approved by the Management Board on
June 6, 2023 and not yet
audited.
Eric Matteucci, Chairman of the Management
Board, commented: “The 2022-2023 fiscal year is a symbolic
milestone for our growth, with sales in excess of one billion
euros, and confirms the SII Group’s return to high performance. We
thank our teams for their commitment and our customers for their
trust. We now need to build on this foundation to shape our future
with desire and conviction, and deliver on our promise to develop a
digital, sustainable world together.”
In
€mEnded March 21,2023
(non
yet
audited) |
2021-2022 |
2022-2023 |
Change |
Revenue |
828.88 |
1,022.55 |
+23.4% |
Operating profit on activity |
80.25 |
102.51 |
+27.7% |
Operating margin on activity (as a % of revenue) |
9.68% |
10.03% |
+0.35 pt. |
Net operating income |
79.07 |
100.66 |
+27.3% |
Net operating margin (as a % of revenue) |
9.54% |
9.84% |
+0.30 pt. |
Consolidated net income |
59.41 |
80.47 |
+35.4% |
Consolidated net income, Group share |
59.37 |
80.47 |
+35.4% |
|
|
|
|
Average headcount |
9,434 |
10,835 |
+1,401 |
Headcount at the end of the period |
10,311 |
10,970 |
+659 |
Strong business growth
The SII Group has achieved a revenue for the
financial year 2022-2023 at €1,022.5m, up 23.4% compared to
2021-2022. This performance was driven by a strong dynamic of
activity in all sectors. Aerospace-Space-Defence posted further
growth of almost 20% over the year as a whole, and now accounts for
21.1% of the SII Group's total sales. The Banking sector grew by
17.1%. All the other sectors, with the exception of telecoms, are
also posting double-digit growth rates.
In France, the revenue reached € 434.1m in rise
of 13.2%. Aeronautics-Space-Defence, Banking-Insurance and
Telecommunications remain the top 3 contributors to the revenue in
this zone.
On the international front, the 2022-2023
financial year closed with a 31.5% increase in revenue to €588.4m.
Poland, which contributed more than half of the revenue, posted
growth of almost 34%. In Germany, the second-largest contributor to
turnover, business has clearly picked up again with a 36.9%
increase in turnover for the fiscal year. In Spain, sales fell by
8.1% due to discontinuation of several public sector activities.
All other countries contributed €93.6 million to total sales, a
cumulative growth of 48.3% compared to the previous fiscal
year.
This performance was accompanied by a strong
recruitment drive, with almost 4,200 new hires over the year. At 31
March 2023, the group had 10,970 employees, compared with 10,311 at
the end of March 2022. In France, the SII Group now has nearly
5,000 employees. In France and throughout the world, the group
remains focused on pursuing its ambitious employer brand strategy
to promote the well-being and performance of its employees. The
group has continued and extended its Great Place To Work labelling
programme.
Further improved
profitability
At the end of March 2023, the group’s
profitability improved in France and internationally.
Operating profit from ordinary activities
exceeded €100m for the first time, at €102.8m. This performance is
explained by the continuing positive effects of the SII Group's
reorganisation, a further improvement in the AREH1 which reached
its optimum at 89.9% across all activities, and the efforts of each
subsidiary to contribute to this improvement. Overall, the
operating margin reached an all-time high of 9.8%. In France, the
operating margin improved slightly to 7.17% (7.03% in the previous
fiscal year). The international operating margin was 11.82%,
compared to 11.69% at the end of March 2022.
After taking into account the financial result
and taxes, the net result amounts to €80.5m, which represents a net
margin of 7.87%.
At March 31, 2023, the balance sheet showed a
net cash position (excluding IFRS16) of €163.9m, compared with
€128.6m at the end of March 2022. Shareholders’ equity stood at
€266.5m compared with €219.1m at the end of March 2022.
External growth in the
Netherlands
The SII Group has been present in the
Netherlands since 2014 and had 40 employees at 31 March 2023, in
engineering activities. On 25 May, the SII Group finalised the
acquisition of RESA-IT, which employs just over 50 people. Thanks
to this acquisition, the SII Group’s Dutch subsidiary has extended
its expertise to the fields of IT and is expanding its offerings in
a growing market. The combined entity is expected to generate sales
exceeding €10 million in the 2023-2024 fiscal year. The activities
of RESA-IT will be consolidated in the books of Group SII as of
June 1, 2023.
Proposed
dividend of
€0.50
per
share
In keeping with its dividend distribution
policy, the SII Group will propose, at the General Meeting of
Shareholders to be held on September 21, 2023, the payment of a
dividend of €0.50 per share.
Outlook
2023-2024
The SII Group is growing in the digital sector,
which still seems promising. The SII Group can also count on its
solid advantages, especially its organisation, its sectoral and
geographical diversity and its quality HR policy.
However, in addition to the initial
uncertainties associated with labour shortages, inflationary
pressures and geopolitical questions, there are now issues related
to monetary policies and their macroeconomic impacts, whose effects
on the future level of activity are difficult to predict.
In this unpredictable context, the SII Group
anticipates organic sales growth of between 8% and 12% for the
first half of its 2023-2024 fiscal year. The SII Group also aims to
maintain its operating margin between 9% and 10% during this first
half-year. The SII Group will specify its objectives for the
financial year at the time its half-yearly results are published,
depending on economic developments.
***
Next financial
announcement:
Fiscal 2023-2024 first quarter revenue,
Wednesday, August 10, 2023 after closing market
-
Contacts:
SII - Eric Matteucci: +33(0)
142 848 222
Press: Séverine BATY - +33(0)
664 157 024
-
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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.
1 Activity Rate Excluding Holidays (Billed /
billable, excluding holidays)
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