SII: Fiscal 2023-2024 first quarter revenue

Paris, August 10, 2023 – 6 p.m.

Fiscal 2023-2024 first quarter revenue: €269.3m

Growth of 12.9% (of which organic growth: +10.1%)

Business in France up 7.3 percent
International operations up 17.1 percent

SII Group, which specialises in engineering business, has announced its first quarter revenue for the 2023-2024 financial year.

Eric Matteucci, Chairman of the Management Board, commented: “The first quarter of the 2023-2024 financial year was in line with the announced first half plan. In a more wait-and-see business climate and with an unfavorable calendar (two working days less), the SII group managed to deliver a ninth consecutive quarter of double-digit organic growth. Congratulations to all our teams for this performance. This launches our new fiscal year in line with our expectations and confirms our scenario for the first half.”

* excluding external growth and exchange rate effects (exchange rate 2022-2023 applied to 2023-2024 revenue)

SII Group, a specialist in engineering businesses, registered revenue of €269.3 million during the first quarter of the 2023-2024 financial year, up 12.9%. This performance is mainly fuelled by the development of our international activities.

Continued growth in France

In France, the SII Group achieved a revenue of €109.4m during the first quarter of the financial year 2023-2024, i.e. a 7.3% growth (of which 3.3% organic growth). The Activity Rate Excluding Holidays (AREH) deteriorated slightly but remained at a high level above 90%. The unfavorable calendar and the holidays taken also had a negative impact on productivity. Despite falling demand, our teams managed to record organic growth of 3.3%, more than doubled by our external growth operation in early 2023.

International business maintained a high organic growth rate

Internationally, the SII Group recorded a quarterly revenue of €160.0 million, up 17.1% compared to the first quarter of the previous year. A few countries are in organic decline: Spain (-11%) which continues to clean up its activity, Belgium (-23%) as well and Canada (-6%) strongly impacted by the drop in demand. All the other countries continued their organic growth, some of which at a sustained pace: Poland (+16%), Germany (+22%), Romania (+42%), Chile (+11%) and the Czech Republic (+51%).

Prospects

The performance achieved during this first quarter makes it possible to reiterate the expected outlook for the whole of the first half of this financial year. This means: an organic growth in revenue of between 8 and 12%, and an operating margin maintained between 9 and 10%.

Proposed dividend of €0.50 per share

In keeping with the SII Group’s distribution policy and returns to the shareholders, the next shareholders’ meeting, scheduled for September 21, 2023, will be asked to approve the payment of a dividend of €0.50 per share.

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Next financial announcement:

Fiscal 2023-2024 half-year revenue, Tuesday, November 14, 2023 after trading

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Contact:

SII - Eric Matteucci: +33(0)142 848 222

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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. 

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