SII Group, which specialises in engineering business, has announced its third quarter revenue for 2021-2022 financial year.
Eric Matteucci, Chairman of the Management Board, commented: “The third quarter of the 2021-2022 financial year extended the performance achieved in the first half. SII Group’s growth remained strong in France and accelerated internationally. All our sectors and regions contributed to this growth. These solid figures have led us to raise our guidance for the full-year 2021-2022, with revenue expected to exceed €800 million. Many thanks should be delivered to all our teams.”
* excluding acquisitions and the effect of exchange rate (2020-2021 exchange rates applies to 2021-2022 revenue)
SII Group, a specialist in engineering businesses, generated its highest ever revenue in the third quarter, at €212.7 million, up 25.5% year on year. This was the first time SII Group’s quarterly revenue exceeded €200 million. Over the first nine months of the year, revenue increased by 25.2% to €589.0 million.
Very dynamic activity in France
In France, SII Group’s third quarter revenue came to €97.0 million, an increase of 16.1% year on year. All business sectors contributed to performance despite the uncertain backdrop of the health crisis and calls for companies to extend home-working.
Over the first nine months of the financial year, revenue in France came to €273.3 million, up 22.2%.
Continued acceleration in international growth
In its International business, SII Group generated a record level of revenue, with €115.7 million for the period from October to December, representing organic growth of 35.3%. Over nine months, revenue totaled €315.6 million, up 27.9%. All countries made a positive contribution over the quarter, including Germany (+3%). Other countries all achieved double-digit growth: Poland (+40%), Spain (+24%), Romania (+88%), Chile (+31%), Canada (+25%), United Kingdom (+61%), Morocco (+48%), Czech Republic (+91%), Colombia (+29%) and the Netherlands (+15%). Belgium recorded organic growth of 10% and multiplied its revenue by 2.3x with the consolidation of ANANKEI BV over two months following its acquisition by SII Group in late October 2021.
Prospects
The performance delivered by SII Group in the third quarter confirms its uninterrupted growth since the start of the 2021-2022 financial year. Although the economic and health situations remain uncertain, current business trends have led SII Group to raise its targets. Provided the health crisis and economic conditions remain on track, over FY 2021-2022 SII Group expects to achieve organic growth in revenue of at least 22%, instead of 15% as announced on November 9, 2021, with annual revenue of more than €800 million. SII Group also expects its full year operating margin to outstrip pre-Covid levels (year ended 31 March 2019).
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