Annual revenue for fiscal 2020/2021
The SII group, which specializes in engineering businesses, has announced its annual turnover for
the 2020-2021 financial year.
Eric Matteucci, Chairman of the Management Board, states: "As envisaged in the previous release, this last quarter of the 2020-2021 financial year marks a return to organic growth for the entire SII group. This success, obtained in an unprecedented health context, is a great satisfaction for all the actors of the SII group who work daily to build our immediate and future development. The good performance of the fourth quarter allows us to attack the next financial year in a winning position. Thanks to all our employees and customers for making this possible".
* excluding the effect of exchange rate (2019-2020 exchange rates applied to 2020-2021 revenue)
The SII group registered turnover in the 2020-2021 financial year of €654.2m, a moderate fall of 3.3% (a fall of 1.5% at constant exchange rates) against the backdrop of the health crisis. In the fourth quarter, the Group's turnover returned to growth and reached €183.6m, up 3.8% (5.6% growth at constant exchange rates) compared to the fourth quarter of the previous year.
Return to growth in France and continued resilience of international business
In France, the fourth quarter was marked by an upturn in business (+3.0%) despite what was still an unprecedented health context and partial lockdowns in certain regions. Full year turnover was €315.5m, down 9.2% on the previous year. After a first quarter strongly affected by the health crisis, the recovery has been gradual, quarter by quarter, thanks to the energy of teams and the resilience of certain business sectors. Indeed, thanks to its sectoral diversification, the SII group has been able to maintain its activity in the telecommunications, energy, banking and defense sectors.
In International activity, the SII group posted a revenue of €338.7m, +6.6% at constant exchange rates (+3.0% at the current rate) compared to the previous year. Throughout the year, the Group demonstrated the strong resilience of its international business. The fourth quarter saw a more sustained pace of activity with revenue reaching €91.8m. Business grew by 8.2% (+4.6% at current exchange rates) with double-digit performances (at constant exchange rates) in several countries: Poland (+20%), Romania (+18%), Chile (+41%), Morocco (+40%) and Colombia (+10%). This strong geographical diversification makes it possible to offset the drop in business encountered in countries with greater sectoral exposure such as Germany, Spain, the Netherlands and the Czech Republic.
This fourth quarter of the financial year is in line with the announcements made with the press release of February 11th of this year; it means that after three consecutive quarters of decline we can once again post organic growth for the whole of the SII group. This performance should enable us to achieve the ambition stated with the posting of the half-year results, namely an improvement in the operating margin in the second half of the year compared to the first quarter.
In an environment of reduced visibility, the SII group intends to return to significant organic growth in the next financial year, as of the first quarter. The SII group will specify its annual ambitions for 2021-2022 when it posts its results for the 2020-2021 financial year in terms of both revenue and operating margin.
Attachment: Revenue by quarter
* excluding the impact of exchange-rate fluctuations (previous year’s rates applied to current year’s revenue)
Improvement in international operating margin
10% organic growth expected in 2021-2022
Continued gradual recovery in activity in France
International activity still growing in Q3: +1,8%
amidst the health crisis
Gross income from operations: €12.0m
Net income after minority interests: €7.2m