2023 Financial Statement of the INDUSTRIAL AND FINANCIAL COMPANY (CIFE)

On April 23, 2024, the Board of Directors of the COMPAGNIE INDUSTRIELLE ET FINANCIÈRE D'ENTREPRISES (CIFE) presented the financial results for 2023, marked by a significant increase in turnover to 242 million euros, an increase by 18.6% compared to the previous year. Despite this growth, current operating profit fell by 86.2%, to 1.014 million euros.

2023 also saw a major restructuring for CIFE, with the start of negotiations for a merger with the Spie Batignolles Group, which culminated with a 92.79% stake from Spie Batignolles in the capital of CIFE at the end of April 2024. This strategy aims to enrich CIFE's offering and territorial presence, thus consolidating its positioning on large-scale projects.

In detail, EBITDA increased slightly, reaching 21 million euros. However, the group's consolidated net profit saw a significant drop, from 8.072 million euros in 2022 to 3.478 million in 2023. Part of this drop can be explained by non-recurring charges linked to the merger with the Spie Group. batignolles and the net profit from the sale of certain activities.

These results demonstrate the challenges encountered by CIFE, particularly in terms of profitability in the building sector in mainland France, despite better performance in public and maritime works. Investments continued with a total of 17.2 million euros in 2023, supporting current operations and the transition linked to the ongoing strategic merger.