Paris, November 14, 2022 – 6 p.m.
Revenue for the first half of 2023-2024: €538.4m
Growth of 12.8%
Business in France up 7.6 percent
International operations up 16.5 percent
SII Group, which specialises in engineering business, has announced its semester revenue for 2023-2024 financial year
Eric Matteucci, Chairman of the Management Board commented: « Overall, business over the first half of the 2023-2024 financial year is in line with the scenario announced at the start of the year, which is good news. Unsurprisingly, the second quarter of the 2023-2024 financial year confirms the slowdown in growth. The macroeconomic context continues to darken. We must rely on the Group’s strengths to take advantage of all the opportunities that our teams, whose performance I applaud, will encounter over the coming months. »
The SII Group, a specialist in engineering businesses, posted revenue of €538.1 million for the first half of the 2023-2024 financial year, up 12.8% despite three fewer working days. The second quarter saw growth of 12.8% to €269.0 million. With the exception of Germany and the UK, all countries are experiencing a slowdown. Against this backdrop, we would like to highlight the performance of all our teams.
Stronger international growth
Internationally, the SII group recorded quarterly revenue of €164.0 million, up 15.8% (of which 11.1% on a like-for-like basis) compared with the second quarter of the previous financial year. A number of countries continued to report strong quarterly organic growth: Poland (+9%), Germany (+42%), Romania (+30%) and the Czech Republic (+47%).
For the first half, international sales increased by 16.5% to €324.0 million (13.8% on a like-for-like basis).
The various activity rates are holding up well and should enable us to maintain a satisfactory operating profit rate.
Outlook
Revenues in the first semester are in line with the targets set at the start of the year. Given the lower level of activity rate in the first half of the year, the operating margin should be at the lower end of the announced range, i.e. close to 9%. Looking beyond the first half of the year, the limited visibility means that we have to look ahead quarter by quarter. Our objective for the third quarter of the 2023-2024 financial year is to achieve sales growth of between 7% and 10%.
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