First-quarter 2018 consolidated revenue up 4.6% year on year

 ·      Strong growth for nuclear engineering activities

Paris, 26 April 2018, 5.35 p.m. (CEST) - Assystem S.A. (ISIN: FR0000074148 - ASY), a leading player in engineering, today released its consolidated revenue figures for the three months ended 31 March 2018 (first-quarter 2018).

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

In millions of euros Q1 2017* Q1 2018 Total year-on-year change Like-for-like
year-on-year change**
Group 103.1 107.9 +4.6% +0.1%
         
Energy & Infrastructure 88.4 94.5 +6.8% -0.4%
Staffing 12.2 11.1 -9.4% +2.4%
Other 2.5 2.3 - -
         

* Restated in order to facilitate year-on-year comparisons.
** Based on a comparable scope of consolidation and constant exchange rates.

Assystem's consolidated revenue rose by 4.6% in the first quarter of 2018, breaking down as 0.1% in like-for-like growth, a 7.0% increase due to changes in the scope of consolidation and a 2.5% negative currency effect.

The like-for-like growth figure reflects an unfavourable basis of comparison with the first-quarter of 2017, when the Energy & Infrastructure division (the main component of the Group's new scope of fully consolidated companies) posted a like-for-like revenue increase of 10.7%. In addition, the lower number of business days in the first three months of 2018 trimmed an estimated 1.5% off like-for-like revenue growth during the period.

ENERGY & INFRASTRUCTURE

Revenue generated by the Energy & Infrastructure division advanced 6.8% in the first three months of 2018 to €94.5 million. Like-for-like growth was a negative 0.4%, changes in the scope of consolidation had a positive 8.4% impact and the currency effect was a negative 1.2%.

Revenue from Nuclear activities jumped 18.6% to €60.6 million, with 12.9% like-for-like growth, a 6.9% positive impact from changes in the scope of consolidation and a 1.2% negative currency effect. This continuous strong showing was led by demand for engineering services from key clients as well as by the depth and breadth of Assystem's service offerings.

Revenue for Energy Transition & Infrastructures contracted by 9.3% to €33.9 million, breaking down as an 18.9% like-for-like decrease, a positive 10.9% impact from changes in the scope of consolidation and a negative 1.3% currency effect. Half of the overall negative like-for-like growth figure was due to non-recurring revenue recognised by Assystem's Turkish subsidiary, Envy, in the first quarter of 2017, and the other half mainly stemmed from revenue declines reported by Radicon and Assystem's conventional energy operations in France. 

STAFFING

At €11.1 million, revenue for the Staffing division was up 2.4% year on year at constant exchange rates. However, the currency effect on this division's reported revenue figure was a negative 11.8% for the period as the majority of its revenue is generated in US dollars and currencies pegged to the US dollar.

HEADCOUNT

Assystem had 5,314 employees at 31 March 2018 (including 239 employees from ECP which has been consolidated since 1 January 2018), compared 4,832 at end-December 2017.

ASSYSTEM TECHNOLOGIES GROUPE

Assystem Technologies Groupe - in which Assystem holds a 38.2% stake - posted revenue of €238.5 million for the first quarter of 2018, compared with €163.8 million in the same period of 2017. This 45.6% year-on-year surge breaks down as 11.3% in like-for-like growth, a 35.5% positive impact from changes in the scope of consolidation (chiefly due to the consolidation of SQS's revenue in February and March 2018) and a 1.2% negative currency effect.

2018 FINANCIAL CALENDAR

  • 16 May: Annual General Meeting
  • 26 July: First-half 2018 revenue
  • 10 September: First-half 2018 results - Presentation meeting on 11 September at 8.30 a.m. (CEST)
  • 8 November: Third-quarter 2018 revenue

Assystem is an international engineering group. As a key participant in the industry for 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

Philippe Chevallier
CFO & Deputy CEO
Tel.: +33 (0)1 55 65 03 10

 

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

 

CONTACTS

ASSYSTEM : First-quarter 2018 consolidated revenue



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Source: ASSYSTEM via Globenewswire