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Assystem announce revenues up 12.4% to €444m

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Assystem an international engineering group, released its consolidated revenue figures for the year ended 31 December 2018, Wednesday. 

2018 consolidated revenue and year-on-year changes (unaudited) 

In millions of euros 2017 2018 Total year-on-year change Like-for-like
year-on-year change*
Group 395.2 444.1 +12.4% +6.8%
Energy & Infrastructure 341.3 391.3 +14.7% +7.5%
Staffing 45.1 44.2 -2.1% +2.4%
Other 8.8 8.6

* Based on a comparable scope of consolidation and constant exchange rates.

Assystem’s consolidated revenue rose by 12.4% in 2018, breaking down as 6.8% in like-for-like growth, a 7.1% increase due to changes in the scope of consolidation and a 1.5% negative currency effect.

Revenue growth for the fourth quarter came in at 18.9% (13.0% in like-for-like growth, a 6.9% favourable impact from changes in the scope of consolidation and a 1.0% negative currency effect), continuing the steep upward trajectory seen in the third quarter. As expected, overall like-for-like revenue growth for the second half of 2018 was very robust (representing 12.9% compared with second-half 2017).

Energy & Infrastructure 

Revenue generated by the Energy & Infrastructure division advanced 14.7% to €391.3m in 2018. Like-for-like growth was 7.5%, changes in the scope of consolidation had a positive 8.3% impact and the currency effect was a negative 1.1%. In the fourth quarter, the division’s revenue was up 21.7% (15.2% in like-for-like growth, a positive 7.9% from changes in the scope of consolidation and a 1.4% negative currency effect).

Revenue from Nuclear activities jumped 22.1% to €251.0m, with 17.2% like-for-like growth, a 6.3% positive impact from changes in the scope of consolidation and a 1.4% negative currency effect. In the fourth quarter, growth came to 24.7% (21.1% like for like, 5.4% from changes in the scope of consolidation and a 1.8% negative currency effect), led by business in France, the Middle East and Turkey.

At €140.3m, Energy Transition & Infrastructures (ET&I) revenue rose 3.3% year on year (reflecting a 7.5% like-for-like decline, an 11.4% favourable impact from changes in the scope of consolidation and a negative 0.6% currency effect). In the fourth quarter, overall growth was 16.8%, with a like-for-like increase of 4.7%. For the second half of 2018, ET&I’s revenue was up 4.2% on second-half 2017 like-for-like, marking a clear upswing compared with the first half of 2018. This period-on-period improvement notably stemmed from Radicon’s Building Infrastructure activities and the Life Sciences business.

Staffing

Revenue for the Staffing division totalled €44.2m in 2018, representing a 2.4% year-on-year increase at constant exchange rates. The division’s Industry activities contributed half of its 2018 revenue figure, with their growth offsetting the downturn for Oil & Gas activities. The currency effect on Staffing’s reported revenue was a negative 4.5% for the year as the majority of its revenue is generated in US dollars and currencies pegged to the US dollar. In the fourth quarter, revenue rose 2.5%, including a positive currency effect due to the upswing in the USD/EUR exchange rate in the latter part of 2018.

Headcount

Assystem had 5,608 employees at 31 December 2018, compared with 4,833 at end-December 2017.

Expleo Group

Expleo Group (formerly Assystem Technologies Groupe) in which Assystem holds a 38.2% stake, posted revenue of €1,042.5m for 2018, versus €673.6m in 2017. This represents total year-on-year growth of 54.8%, breaking down as 7.7% in like-for-like growth, a 47.5% positive impact from changes in the scope of consolidation (chiefly due to the consolidation of SQS’s revenue since February 2018) and a -0.5% negative currency effect.

Full year EBITA and free cash flow targets for 2018

The Group is standing by its previously announced EBITA and free cash flow targets for full-year 2018. 

2019 financial calendar

  • 18 March:             Full-year 2018 results – Presentation meeting on 19 March 2019 at 8.30 a.m. (CET)
  • 29 April:                First-quarter 2019 revenue
  • 16 May:                Annual General Meeting
  • 30 July:                 First-half 2019 revenue
  • 9 September:       First-half 2019 results – Presentation meeting on 10 September 2019 at 8.30 a.m. (CET)
  • 30 October:          Third-quarter 2019 revenue



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