Paris, August 10, 2023 – 6 p.m.
Fiscal 2023-2024 first quarter revenue: €269.3m
Growth of 12.9% (of which organic growth: +10.1%)
Business in France up 7.3 percent
International operations up 17.1 percent
SII Group, which specialises in engineering business, has announced its first quarter revenue for the 2023-2024 financial year.
Eric Matteucci, Chairman of the Management Board, commented: “The first quarter of the 2023-2024 financial year was in line with the announced first half plan. In a more wait-and-see business climate and with an unfavorable calendar (two working days less), the SII group managed to deliver a ninth consecutive quarter of double-digit organic growth. Congratulations to all our teams for this performance. This launches our new fiscal year in line with our expectations and confirms our scenario for the first half.”
SII Group, a specialist in engineering businesses, registered revenue of €269.3 million during the first quarter of the 2023-2024 financial year, up 12.9%. This performance is mainly fuelled by the development of our international activities.
Continued growth in France
In France, the SII Group achieved a revenue of €109.4m during the first quarter of the financial year 2023-2024, i.e. a 7.3% growth (of which 3.3% organic growth). The Activity Rate Excluding Holidays (AREH) deteriorated slightly but remained at a high level above 90%. The unfavorable calendar and the holidays taken also had a negative impact on productivity. Despite falling demand, our teams managed to record organic growth of 3.3%, more than doubled by our external growth operation in early 2023.
International business maintained a high organic growth rate
Internationally, the SII Group recorded a quarterly revenue of €160.0 million, up 17.1% compared to the first quarter of the previous year. A few countries are in organic decline: Spain (-11%) which continues to clean up its activity, Belgium (-23%) as well and Canada (-6%) strongly impacted by the drop in demand. All the other countries continued their organic growth, some of which at a sustained pace: Poland (+16%), Germany (+22%), Romania (+42%), Chile (+11%) and the Czech Republic (+51%).
Prospects
The performance achieved during this first quarter makes it possible to reiterate the expected outlook for the whole of the first half of this financial year. This means: an organic growth in revenue of between 8 and 12%, and an operating margin maintained between 9 and 10%.
Proposed dividend of €0.50 per share
In keeping with the SII Group’s distribution policy and returns to the shareholders, the next shareholders’ meeting, scheduled for September 21, 2023, will be asked to approve the payment of a dividend of €0.50 per share.
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