CIS Reports Strong Revenue Growth in H1 2024

CIS recorded revenue of €212.5 million for the first half of 2024 on a constant currency basis, showing a growth of 37.5% compared to the first half of 2023. Reported revenue totaled €199.5 million, marking a 29% increase year-on-year. Currency fluctuations negatively impacted revenue by €13 million, primarily due to depreciation in Eurasia and Africa.

Despite the currency impacts, CIS saw robust business performance, especially in the second quarter, with a rise of 41.7% at constant currency and 35.9% on a reported basis compared to the same period last year.

All regions contributed to this growth: the Americas grew by 46%, Africa by 44%, and Eurasia by 28% at constant currencies. The revenue distribution was 8% for the Americas, 54% for Africa, and 38% for Eurasia.

Looking forward, CIS is optimistic about its business prospects for 2024. Continued strong performance and new business gains are expected to positively impact second-half revenues.