from CIS (EPA:CTRG)
CIS : H1 2024 results
PRESS RELEASE
Marseille, 23 September 2024 – 6:30 p.m.
H1 2024 results
Dynamic growth continues
Improved operating profitability
| Data on a reported basis (1) |
| Data at CC (2) | |||
(€m) | H1 2024 | H1 2023 | Change |
| H1 2024 | Change |
Revenue | 199.5 | 154.6 | +29.0% |
| 212.5 | +37.5% |
Cost of sales | (81.4) | (66.4) |
| (86.0) |
| |
Staff costs | (71.4) | (54.5) |
| (75.6) |
| |
External charges | (29.9) | (25.1) |
| (32.2) |
| |
Taxes other than on income | (3.5) | (1.0) |
| (3.6) |
| |
EBITDA | 12.6 | 7.6 | +66.5% |
| 14.2 | +88.0% |
Allowances for depreciation and amortisation, provisions | (5.5) | (3.3) |
| (5.7) |
| |
Current Operating Profit | 7.9 | 4.3 |
|
| 9.4 |
|
Operating Profit | 7.1 | 4.3 | +64.4% |
| 8.6 | +98.6% |
Net Financial Income (Expense) | (1.6) | (1.0) |
| (2.0) |
| |
Corporate income tax | (2.9) | (1.4) |
| (3.1) |
| |
Consolidated Net Profit / (Loss) | 2.6 | 1.9 | +33.1% |
| 3.5 | +82.6% |
Net Profit / (Loss) attributable to shareholders | 1.6 | 2.2 | -24.4% |
| 2.5 | +13.9% |
(1) The Board of Directors met on 23 September 2024 to adopt the financial statements for the six-month period ended 30 June 2024. The Statutory Auditors have completed their procedures for these accounts and the issuance of their report is pending.
(2) CC: constant currencies.
H1 2024 business highlights: growth across all regions
CIS posted revenue of €212.5 million at constant currencies for the first half of 2024, for growth of 37.5%.
On a reported basis, revenue totalled €199.5 million, up 29% from the first half of 2023. This included a negative currency impact of €13 million, mainly due to the depreciation of certain currencies in Eurasia and Africa.
These currency effects have improved since the beginning of the year and are expected to have a considerably less adverse impact in the current financial year than in 2023.
All regions contributed positively to business performance. At constant currencies, the Americas grew by 46%, Africa by 44% and Eurasia by 28%.
1
PRESS RELEASE
H1 2024 results: Improved operating profitability
After 2023, which was impacted by several economic factors, operating profitability improved significantly in the first half of 2024. Ebitda rose 88% to €14.2 million on a constant currency basis, i.e. a margin of 6.7%, up from 4.9% for the same period in 2023.
On a reported basis, Ebitda came to €12.6 million, increasing by 66.5%, for a margin on revenue of 6.3%.
Consolidated net profit totalled €2.6 million (€3.5 million at constant currencies), after deducting a financial expense of €1.6 million and corporate income tax of €2.9 million.
Net profit attributable to Group shareholders, at €1.6 million (€2.5 million at constant currencies), was impacted by the €1.2 million increase in minority interests compared with the first half of 2023.
CIS Group continues to benefit from a healthy and sound financial position, with €65.4 million in shareholders’ equity and €50.3 million in cash at 30 June 2024.
Good visibility for the second half
With our expanding range of services and growing contributions from recent business wins, the Group is confident about its organic growth outlook for the second half of 2024.
The Group also remains on the lookout to seize any acquisition opportunities that would strengthen its positioning either in complementary businesses in France or internationally in its core business.
About CIS
For more than 30 years, CIS has been managing remote sites in the four corners of the globe, in the most isolated onshore and offshore environments. The Group supports major players in energy, mining, construction and peacekeeping forces through every step of their projects.
As a service integrator, CIS provides turnkey solutions to bring all of its residents well-being, comfort and a friendly atmosphere, so that its customers can focus on their core businesses.
The Group is committed to the sustainable development of the countries where it operates, by hiring, training its staff, forming partnerships with suppliers close to its sites, and engaging in local community initiatives.
CIS’s approach is proactive, based on innovation and continuous improvement to reduce its impact on the environment. Every day, the Group works to improve its practices and guarantee its transparency. For more information, go to: www.cis-integratedservices.com
Euronext Growth Paris: ISIN FR0000064446 / Reuters: ALCIS.PA – Bloomberg: ALCIS:FP
Next press release: 16 October 2024, after the close of trading: Q3 2024 revenue
Contacts
CIS: Communications Department / +33 (0)4 91 16 53 00 / communication@cis-integratedservices.com
SEITOSEI-ACTIFIN: Financial Communication / +33(0)1 56 88 11 13 / jean-yves.barbara@seitosei-actifin.com
SEITOSEI-ACTIFIN: Media Relations / +33(0)1 56 88 11 29 / isabelle.dray@seitosei-actifin.com
2