ASY Assystem

Revenue for the nine months ended 30 September 2023: €421.7 million Up 17.0%, with 14.3% like-for-like growth

Paris-La Défense, 26 October 2023, 5.35 p.m. (CEST) – Assystem S.A. (ISIN: FR0000074148 - ASY), an international engineering group, today released its revenue figures for the nine months ended 30 September 2023 and the third quarter of 2023.

Consolidated revenue for the nine months ended 30 September 2023 and year-on-year changes vs. 2022 (unaudited)

(1)  Consolidation of the UK company LogiKal since 1 December 2022 and of Oreka Ingénierie and Relsafe PRA Consulting since 1 January 2023.                      Assystem’s activities in the Pacific area (due to be sold in 2023) represented €8.6 million in revenue in the first nine months of 2022 and €10.5 million in the first nine months of 2023.(2)  Based on a comparable scope of consolidation and constant exchange rates.

Assystem’s consolidated revenue totalled €421.7 million in the first nine months of 2023, up 17.0% on the same period of 2022. Like-for-like growth came to 14.3%, changes in the scope of consolidation had a positive 4.0% impact (due to the consolidation of UK-based LogiKal since 1 December 2022 and of Oreka Ingénierie and Relsafe PRA Consulting since 1 January 2023), and the currency effect was a negative 1.3%.

The trends seen since the beginning of the year continued, with solid like-for-like growth quarter after quarter, led by robust demand across all of the Group’s businesses, as well as the success of our recruitment campaign and higher talent retention, enabling the planned number of employees to be reached.

In the third quarter of 2023, consolidated revenue came to €139.3 million (versus €118.9 million in Q3 2022), representing a 17.1% year-on-year increase. Like-for-like growth was 15.0%, changes in the scope of consolidation had a positive 4.3% impact, and the currency effect was a negative 2.2%.

NUCLEAR (70% of nine-month consolidated revenue)

Revenue from Nuclear activities totalled €293.6 million in the first nine months of 2023, compared with €253.6 million for the same period of 2022. This 15.8% year-on-year increase breaks down as 16.0% in like-for-like growth, a positive 0.5% impact from changes in the scope of consolidation, and a negative 0.7% currency effect.

Third-quarter 2023 Nuclear revenue amounted to €95.5 million, up 16.6% on the €81.9 million recorded for the third quarter of 2022. Like-for-like growth was 16.5%, changes in the scope of consolidation had a positive 0.6% impact, and the currency effect was a negative 0.5%.Growth for this segment was buoyant in France and very buoyant in the United Kingdom, while Saudi Arabia’s contribution was limited to the completion of siting studies.

ENERGY TRANSITION & INFRASTRUCTURES (ET&I) (30% of nine-month consolidated revenue)

ET&I revenue came to €128.1 million in the first nine months of 2023, versus €107.0 million for the same period of 2022. Total year-on-year growth was 19.8%, including a 10.0% like-for-like increase, a positive 12.4% impact from changes in the scope of consolidation, and a negative 2.6% currency effect. The increasing contribution of siting studies as part of major infrastructure projects in Saudi Arabia has now steadied, and represented a high level for the nine months ended 30 September 2023 compared with 2022.

In the third quarter of 2023, ET&I revenue totalled €43.8 million, compared with €37.0 million in Q3 2022. This 18.1% year-on-year increase breaks down as 11.8% like-for-like growth, a positive 12.7% impact from changes in the scope of consolidation, and a negative 6.4% currency effect.

OUTLOOK FOR FULL-YEAR 2023

Assystem’s targets for full-year 2023 are as follows:

• consolidated revenue of around €570 million;
• and EBITA1 of around €35 million.

These targets do not include the Group’s activities in the Pacific area (Assystem Polynésie and Assystem Nouvelle-Calédonie), for which Assystem has signed a sale agreement with the two companies’ management, with the sale scheduled to close by the end of 2023.

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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 7,000 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.

For more information please visit www.assystem.com / Follow Assystem on Twitter: @Assystem

CONTACTS 

QUARTERLY REVENUE

(1)  Consolidation of the UK company LogiKal since 1 December 2022 and of Oreka Ingénierie and Relsafe PRA Consulting since 1 January 2023. Assystem’s activities in the Pacific area (due to be sold in 2023) represented €8.6 million in revenue in the first nine months of 2022 (€3.6 million in Q3 2022) and €10.5 million in the first nine months of 2023 (€4.1 million in Q3 2023).(2)  Based on a comparable scope of consolidation and constant exchange rates.

1 Operating profit before non-recurring items (EBITA – Earnings before Interest and Taxes – from Activity) including share of profit of equity-accounted investees (other than Expleo Group and MPH).

Attachment

• PR CA 9M & T3 2023_eng

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