ASSYSTEM: Strong revenue growth in first-half 2021
Strong revenue growth
in first-half 2021
Paris-La Défense, 29 July 2021, 5.35 p.m. (CEST) – Assystem S.A. (ISIN: FR0000074148 – ASY), a leading player in engineering, today released its revenue figures for the six months ended 30 June 2021 (first-half 2021).
First-half 2021 consolidated revenue
and year-on-year changes (unaudited)
| In millions of euros | H1 2020 | H1 2021 | Total year-on-change | Like-for-like year-on-year change* |
| Group | 229.5 | 253.4 | +10.4% | +12.5% |
| Nuclear | 141.4 | 163.8 | +15.8% | +15.2% |
| ET&I** | 85.0 | 89.6 | +5.5% | +8.5% |
| Other*** | 3.1 | – | – | – |
* Based on a comparable scope of consolidation and constant exchange rates.
** Including Staffing revenue amounting to €20.2 million in H1 2020 and €19.2 million in H1 2021.
*** The business corresponding to the “Other” segment has been deconsolidated since 1 July 2020.
Consolidated revenue totalled €253.4 million in the first half of 2021, up 10.4% year on year. Like-for-like growth came to 12.5%, changes in the scope of consolidation had a negative 0.5% impact (relating to the sale of Eurosyn, which was previously classified under “Other”, and the consolidation of the UK-based company CRA) and the currency effect was a negative 1.6% (primarily due to the depreciation against the euro of the US dollar and currencies pegged to the US dollar).
NUCLEAR
Revenue from Nuclear activities rose by a steep 15.8% to €163.8 million (representing 65% of total consolidated revenue) from €141.4 million in the first half of 2020. Like-for-like growth was 15.2%, changes in the scope of consolidation had a 1.4% positive impact (corresponding to the consolidation of CRA) and the currency effect was a negative 0.8%.
Growth momentum was particularly buoyant in Europe (France, the United Kingdom and Finland) as well as in Turkey. Revenue generated in the Middle East contracted by €6.7 million, however, due to the ENEC contract in the United Arab Emirates reaching its term.
Overall revenue growth recorded for first-half 2021 includes the impact of a favourable basis of comparison stemming from the effects of the Covid-19 pandemic on business activity in the first half of 2020. That said, however, first-half 2021 revenue was 9.8% higher than the figure for the first six months of 2019.
ENERGY TRANSITION & INFRASTRUCTURES (ET&I)
At €89.6 million, ET&I revenue came in 5.5% higher than the €85.0 million posted for first-half 2020, with like-for-like growth of 8.5% and a 3.0% negative currency effect (which particularly impacted the Staffing business whose functional currency is the US dollar).
Most ET&I activities returned to like-for-like growth in the first six months of 2021, although total revenue was still 4.1% below the first-half 2019 figure, largely due to the currency effect for the Staffing business.
ACQUISITION OF STUP CONSULTANTS PRIVATE LIMITED
On 30 June 2021, Assystem acquired 99% of the share capital of the Indian engineering company, STUP Consultants Private Limited (1). This company – whose current operations fall within the scope of the ET&I segment – will be consolidated in Assystem’s financial statements as from the second half of 2021.
2021 FINANCIAL CALENDAR
| 15 September: | First-half 2021 results release – Presentation meeting on 16 September at 8.30 a.m. (CEST) |
| 28 October: | Third-quarter 2021 revenue release |
ABOUT ASSYSTEM
Assystem is an international engineering group. As a key participant in the industry for over 50 years, the Group supports its clients in managing their capital expenditure throughout their asset life cycles. Assystem S.A. is listed on Euronext Paris.
For more information please visit www.assystem.com
Follow Assystem on Twitter: @Assystem
CONTACTS
Philippe Chevallier – CFO & Deputy CEO – Tel.: +33 (0)1 41 25 28 07
Anne-Charlotte Dagorn – Communications Director – acdagorn@assystem.com – Tel.: +33 (0)6 83 03 70 29
Agnès Villeret – Komodo – Investor relations – agnes.villeret@agence-komodo.com – Tel: +33 (0)6 83 28 04 15
QUARTERLY REVENUE
| In millions of euros | Q1 2020 | Q1 2021 | Total year-on-year change | Like-for-like year-on-year change* |
| Group | 122.9 | 127.9 | +4.1% | +6.1% |
| Nuclear | 74.5 | 81.8 | +9.8% | +9.0% |
| ET&I** | 46.6 | 46.1 | -1.1% | +1.7% |
| Other*** | 1.8 | – | – | – |
| In millions of euros | Q2 2020 | Q2 2021 | Total year-on-year change | Like-for-like year-on-year change* |
| Group | 106.6 | 125.5 | +17.7% | +19.9% |
| Nuclear | 66.9 | 81.9 | +22.5% | +22.1% |
| ET&I** | 38.4 | 43.6 | +13.5% | +16.8% |
| Other*** | 1.3 | – | – | – |
* Based on a comparable scope of consolidation and constant exchange rates.
** Including Staffing revenue amounting to €10.9 million in Q1 2020 and €9.7 million in Q1 2021, and €9.3 million in Q2 2020 and €9.5 million in Q2 2021.
*** The business corresponding to the “Other” segment has been deconsolidated since 1 July 2020.
(1) See press release dated 1 July 2021 available on assystem.com.
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