Paris-La Défense, 25 July 2024, 5.35 p.m. (CEST) – Assystem S.A. (ISIN: FR0000074148 - ASY), an international engineering group, today released its revenue figures for the six months ended 30 June 2024 (first-half 2024).
First-half 2024 consolidated revenue (unaudited) and year-on-year changes
In € millions
H1 2023
H1 2024
% change (reported)
% change (organic(2))
Group(1)
282.5
301.3
+6.7%
+5.8%
France
186.5
189.6
+1.7%
+3.7%
International
96.0
111.7
+16.4%
+9.9%
(1) Consolidation of the India-based company L&T Infrastructure Engineering Limited (L&T IEL) and France-based Keops Automation since 1 January 2024, and deconsolidation of Assystem’s activities in the Pacific region since 1 December 2023 following their sale. (2) On a constant scope of consolidation and currency basis.
In the first half of 2024, Assystem's consolidated revenue totalled €301.3 million, up 6.7% compared to €282.5 million in the first half of 2023, representing total growth of 6.7%, of which 5.8% was organic growth, 0.7% was due to changes in the scope of consolidation, and 0.2% was due to the currency effect.
Revenue performance in first-half 2024 was led by sustained demand for Nuclear activities (73% of consolidated revenue for the period), which delivered 10% organic growth versus first-half 2023.
FRANCE (63% of consolidated revenue in H1 2024)
Revenue in France amounted to €189.6 million versus €186.5 million in the first half of 2023. This 1.7% year-on-year increase breaks down as 3.7% in organic growth and a negative 2.0% impact from changes in the scope of consolidation (net effect of the deconsolidation of Assystem's activities in the Pacific region and the acquisition of Keops).
Revenue from Nuclear activities (accounting for 87% of total revenue in France in first-half 2024) rose 8.3% on an organic basis, driven by studies concerning projects for new EPRs and the development of projects related to the fuel cycle, while volumes of business for the country's existing nuclear power plants remained at a high level.
INTERNATIONAL (37% of consolidated revenue in H1 2024)
Revenue from International operations came to €111.7 million compared with €96.0 million in the first half of 2023. This 16.4% year-on-year increase includes 9.9% in organic growth, a favourable 5.9% impact from changes in the scope of consolidation (acquisition of L&T IEL), and a positive 0.5% currency effect.
Revenue from international Nuclear activities (accounting for 50% of total International revenue in first-half 2024) climbed by 15.4% on an organic basis. In the United Kingdom, revenue growth for Nuclear activities remained buoyant following the very strong acceleration seen in 2023. India maintained good momentum in the Q2, amid legislative elections , while in Saudi Arabia, revenue generated from major infrastructure projects steadied at a high level after peaking in mid-2023.
PAYMENT OF THE 2023 DIVIDEND
At the Annual General Meeting held on 24 May 2024, Assystem’s shareholders approved the payment of a €12.50 dividend per share for 2023, representing a total payout of €185.6 million. The dividend was paid in two stages: a €7.00 interim dividend paid on 5 April 2024, representing an aggregate €104.2 million, and the balance of €5.50 paid on 12 July 2024, representing an aggregate €81.4 million.
2024 FINANCIAL CALENDAR
11 September: First-half 2024results release – Presentationmeetingon12 September at 8.30 a.m. (CEST)
24 October: Third-quarter 2024 revenue release
ABOUT ASSYSTEM
Assystem, one of the world's leading independent nuclear engineering companies, is committed to accelerating the energy transition. With more than 55 years of experience in highly regulated sectors with stringent safety and security constraints, the Group provides engineering and project management services as well as digital solutions and services to optimise the performance of complex infrastructure assets throughout their life cycle. In its 12 countries of operation, Assystem's 7,500 experts are supporting energy transition. To achieve an affordable low carbon energy supply, Assystem is committed to the development of low carbon electricity (nuclear, renewables and electricity grids) and clean hydrogen. The Group is also helping drive the use of low carbon electricity in industrial sectors such as transportation.
Assystem forms part of the Euronext Tech Leaders, CAC Small, CAC Mid & Small, CAC Industrials, CAC All-Tradable and CAC All-Share indices.
To find out more, visit www.assystem.com/Follow Assystem on Twitter: @Assystem
APPENDICES NOTE : As changes are calculated based on exact figures, there may be discrepancies in the totals shown due to rounding.
HISTORICAL DATA BY GEOGRAPHIC SEGMENT – 2023
In millions of euros
Q1 2023
Q2 2023
H1 2023
Q3 2023
Q4 2023
H2 2023
Total 2023 revenue
Group
143.8
138.6
282.5
139.3
155.8
295.1
577.5
France
94.8
91.7
186.5
86.6
101.8
188.4
374.8
International
49.0
47.0
96.0
52.7
54.0
106.7
202.7
QUARTERLY REVENUE BY GEOGRAPHIC SEGMENT
In millions of euros
Q1 2023
Q1 2024
% change (reported)
% change (organic(2))
Group(1)
143.8
154.3
+7.2%
+5.5%
France
94.8
97.6
+2.9%
+4.3%
International
49.0
56.7
+15.6%
+7.7%
In millions of euros
Q2 2023
Q2 2024
% change (reported)
% change (organic(2))
Group(1)
138.6
147.0
+6.1%
+6.2%
France
91.7
92.0
+0.4%
+3.1%
International
47.0
55.0
+17.1%
+12.4%
(1) Consolidation of India-based L&T IEL and France-based Keops Automation since 1 January 2024, and deconsolidation of Assystem’s activities in the Pacific region since 1 December 2023 following their sale. (2) On a constant scope of consolidation and currency basis.
