ASSYSTEM
Revenue for the nine months ended 30 September 2019 up 12.4% to €363.0 million
• Very strong like-for-like growth for Nuclear activities: 21.1% for the nine-month period
• Annual targets confirmed
Paris – La Défense, 30 October 2019, 5.35 p.m. (CET) – Assystem S.A. (ISIN: FR0000074148 - ASY), an international engineering group, today released its revenue figures for the third quarter of 2019 and the nine months ended 30 September 2019.
Consolidated revenue for the nine months ended 30 September 2019
and year-on-year changes (unaudited)
| In millions of euros | Nine months ended 30 Sept. 2018 | Nine months ended 30 Sept 2019 | Total year-on-year change | Like-for-like year-on-year change* |
| Group | 323.0 | 363.0 | +12.4% | +11.3% |
| Energy & Infrastructure | 283.3 | 324.1 | +14.4% | +13.8% |
| Staffing | 33.2 | 33.5 | +1.0% | -3.6% |
| Other | 6.6 | 5.4 | - | - |
* Based on a comparable scope of consolidation and constant exchange rates.
Assystem's consolidated revenue rose by 12.4% year on year in the first nine months of 2019, breaking down as 11.3% in like-for-like growth and a 1.1% positive currency effect. The lower number of business days compared with the first nine months of 2018 had an estimated 0.4% negative impact on revenue during the period.
Revenue growth in the third quarter of 2019 – which was led by Nuclear activities – came in at 9.0% (8.1% in like-for-like growth and a 0.9% favourable currency effect), following on from 20.3% in third-quarter 2018 (13.4% like for like).
ENERGY & INFRASTRUCTURE
Revenue generated by the Energy & Infrastructure division advanced 14.4% to €324.1 million in the first nine months of 2019. Like-for-like growth was 13.8% and the currency effect was a positive 0.6%.
The division’s growth for the third quarter of 2019 totalled 10.6% (10.0% like for like), following on from the 22.2% year-on-year increase already posted for third-quarter 2018 (14.5% like for like).
Revenue from Nuclear activities jumped 21.7% to €220.5 million in the first nine months of 2019, with 21.1% like-for-like growth and a 0.6% favourable currency effect. Business in France accounted for half of the year-on-year increase and the other half derived from operations in the UK and the Middle East (including Turkey).
At €103.6 million, revenue for Energy Transition & Infrastructures (ET&I) was up 1.5% for the nine-month period, with 0.8% in like-for-like growth and a 0.7% positive currency effect. This modest year-on-year increase reflects Assystem's selective strategy for its engineering offerings in non-nuclear sectors.
STAFFING
Revenue for the Staffing division amounted to €33.5 million for the first nine months of 2019, up 1.0% year on year, including a 4.6% positive currency effect.
HEADCOUNT
Assystem had 5,718 employees at 30 September 2019.
OUTLOOK
On a consolidated basis, Assystem’s targets for full-year 2019 are as follows:
- annual revenue of at least €500 million, including the impact of consolidating ASCO as from 1 October 2019;
- EBITA margin of at least 6.8% (excluding the impact of IFRS 16);
- free cash flow (excluding the IFRS 16 impact) representing more than 6% of revenue for the 24-month period covering the 2018 and 2019 financial years.
2020 FINANCIAL CALENDAR
- 5 February: Full-year 2019 revenue release
- 9 March: Full-year 2019 results release – Presentation meeting on 10 March at 8.30 a.m. (CET)
- 30 April: First-quarter 2020 revenue release
- 14 May: Annual General Meeting
- 30 July: First-half 2020 revenue release
- 8 September: First-half 2020 results release – Presentation meeting on 9 September at 8.30 a.m. (CET)
- 27 October: Third-quarter 2020 revenue release
ABOUT ASSYSTEM
Assystem is an international engineering group. As a key participant in the industry for over 50 years, the Group supports its clients in managing their capital expenditure throughout their asset life cycles. Assystem S.A. is listed on Euronext Paris.
For more information please visit www.assystem.com / Follow Assystem on Twitter: @Assystem
CONTACTS
| Philippe Chevallier CFO & Deputy CEO Tel.: +33 (0)1 41 25 28 07 Anne-Charlotte Dagorn Communications Director acdagorn@assystem.com Tel.: +33 (0)6 83 03 70 29 | Agnès Villeret Investor relations - Komodo agnes.villeret@agence-komodo.com Tel.: +33(0)6 83 28 04 15 |
QUARTERLY REVENUE
| In millions of euros | Q1 2018 | Q1 2019 | Total year-on-year change | Like-for-like year-on-year change* |
| Group | 107.9 | 125.8 | +16.6% | +15.7% |
| Energy & Infrastructure | 94.5 | 112.2 | +18.8% | +18.3% |
| Staffing | 11.1 | 11.5 | +3.6% | -1.6% |
| Other | 2.3 | 2.1 | - | - |
| In millions of euros | Q2 2018 | Q2 2019 | Total year-on-year change | Like-for-like year-on-year change* |
| Group | 108.2 | 120.7 | +11.5% | +10.8% |
| Energy & Infrastructure | 94.6 | 107.7 | +13.8% | +13.6% |
| Staffing | 11.2 | 11.3 | +0.4% | -4.3% |
| Other | 2.4 | 1.8 | - | - |
| In millions of euros | Q3 2018 | Q3 2019 | Total year-on-year change | Like-for-like year-on-year change* |
| Group | 106.9 | 116.5 | +9.0% | +8.1% |
| Energy & Infrastructure | 94.2 | 104.2 | +10.6% | +10.0% |
| Staffing | 10.9 | 10.8 | -1.1% | -5.0% |
| Other | 1.8 | 1.6 | - | - |
* Based on a comparable scope of consolidation and constant exchange rates.
Attachment
- AssystemQ32019Revenue
