ASSYSTEM: 2023 consolidated revenue - Very robust performance
across all of the Group’s businesses
2023 consolidated revenue
Very robust performance across all of the Group’s
businesses
Overall like-for-like growth of 14.6%
Paris La Défense, 8 February 2024, 5.35
p.m. (CET) – Assystem S.A. (ISIN: FR0000074148 - ASY), an
international engineering group, today released its revenue figures
for the fourth quarter of 2023 and for the full year ended 31
December 2023.
2023 consolidated revenue
(unaudited)
and year-on-year changes vs. 2022
In € millions |
2022
|
2023
|
Total year-on-year change |
Like-for-like year-on-year change(2) |
|
Group |
493.5 |
577.5 |
+17.0% |
+14.6% |
|
|
|
|
|
|
|
Nuclear(1) |
344.9 |
404.1 |
+17.2% |
+17.2% |
|
ET&I(1) |
148.6 |
173.4 |
+16.7% |
+8.4% |
|
|
|
|
|
|
(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 business activities in the Pacific area (accounted
for in ET&I and deconsolidated since 1 December 2023)
represented revenue of €13.8 million in 2023 (11 months) and €12.7
million in 2022 (full year).
(2) Based on a comparable scope of consolidation and
constant exchange rates.
Assystem posted solid like-for-like growth
quarter after quarter in 2023, led by robust demand across all of
the Group's businesses, as well as by a successful recruitment
campaign and higher talent retention aimed at meeting the needs of
all of our clients.
In the fourth quarter of 2023, Assystem's
consolidated revenue totalled €155.8 million, up 17.2% on the
€132.9 million recorded for the same period of 2022.
Like-for-like growth came to 15.5%, changes in the scope of
consolidation had a positive 3.0% impact, and the currency effect
was a negative 1.3%.
For full-year 2023, Assystem's total
consolidated revenue amounted to €577.5 million, up 17.0% on the
previous year. Like-for-like growth was 14.6%, changes in the scope
of consolidation had a positive 3.7% 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%.
Excluding the Group’s activities in the Pacific
area, which were sold in December 2023, Assystem's
consolidated revenue came in at €563.7 million (compared with the
full-year 2023 target of approximately €570 million).
NUCLEAR (70% of 2023 consolidated revenue)
Revenue from Nuclear activities amounted to
€404.1 million for full-year 2023, versus €344.9 million in 2022.
This 17.2% year-on-year increase breaks down as 17.2% in
like-for-like growth, a positive 0.5% impact from changes in the
scope of consolidation, and a negative 0.5% currency effect.
In the fourth quarter of 2023, Nuclear revenue
totalled €110.5 million, up 21.0% on the €91.3 million figure for
fourth-quarter 2022. Like-for-like growth was 20.6%, changes in the
scope of consolidation had a positive 0.7% impact, and the currency
effect was a negative 0.3%.
Throughout 2023, growth for this segment was
very buoyant in the United Kingdom (both for new-builds and
decommissioning) and buoyant in France, particularly driven by
maintenance of the installed fleet, while Saudi Arabia's
contribution was limited to the completion of siting studies. For
recollection, year-on-year growth in 2022 was 5.4% like for like,
which created a favourable basis of comparison for 2023.
ENERGY TRANSITION & INFRASTRUCTURES (ET&I) (30%
of 2023 consolidated revenue)
ET&I revenue came to €173.4 million in 2023,
compared with €148.6 million in 2022. Total year-on-year growth was
16.7%, breaking down as 8.4% like-for-like growth, a positive 11.2%
impact from changes in the scope of consolidation (consolidation of
STUP, Schofield Lothian and LogiKal), and a negative 2.9% currency
effect. This segment's revenue performance was particularly driven
by the ramp-up since mid-2022 of contracts for work on major
infrastructure projects in Saudi Arabia (Neom and Al-Ula).
In the fourth quarter of 2023, revenue generated
by ET&I amounted to €45.3 million, versus €41.6 million in
fourth-quarter 2022. Total year-on-year growth was 8.8%, breaking
down as 4.3% like-for-like growth, a positive 8.0% impact from
changes in the scope of consolidation, and a negative 3.4% currency
effect.
STRATEGIC REFOCUSING COMPLETED AND BOLT-ON
ACQUISITIONS
In December 2023, Assystem sold its activities
in the Pacific area (Assystem Polynésie and Assystem
Nouvelle-Calédonie) to the management of those two companies,
marking the end of its strategic refocusing that
began two years ago.
At the same time, the Group continued
its bolt-on acquisition strategy aimed at reinforcing its
expertise in its key geographies. As part of this strategy, in
January 2024 Assystem completed the acquisitions of the
following two companies:
- L&T
Infrastructure Engineering Limited (€10.6 million in
revenue for its 2022-23 financial year), an Indian subsidiary of
the Larsen & Toubro group, enabling Assystem to strengthen its
operating presence in India; and
- KEOPS
Automation (€7.0 million in revenue in 2023), a French
company based in Nantes, specialized in the integration of
industrial operating platforms and the enhancement of their data,
particularly in the nuclear sector in which it provides services to
EDF.
SALE OF ASSYSTEM’S STAKE IN FRAMATOME
On 23 January 2024, Assystem sold to EDF
S.A. for €205 million its 5% stake in Framatome acquired
in December 2017. The Group intends to distribute a significant
portion of the proceeds from this sale in the form of a special
dividend, the amount and payment schedule of which will be
specified at a later date.
2024 FINANCIAL CALENDAR
|
13
March: |
Full-year 2023 results release – Results
presentation on Thursday 14 March at 8.30 a.m.
(CET) |
|
25 April: |
First-quarter 2024 revenue release |
|
24 May:
|
Annual General Meeting |
|
25 July: |
First-half 2024 revenue release |
|
11
September: |
First-half 2024 results release – Presentation
meeting on Thursday 12 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 7,200
experts (as at end-2023) 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.
To find out more visit www.assystem.com/Follow
Assystem on Twitter: @Assystem
CONTACTS
Malène
Korvin – Chief Financial Officer – mkorvin@assystem.com –
Tel.: +33 (0)1 41 25 29 00
Anne-Charlotte Dagorn – Communications &
Marketing Director – acdagorn@assystem.com - Tel.: +33 (0)6 83 03
70 29
Agnès Villeret – Komodo –
Investor relations – agnes.villeret@agence-komodo.com – Tel.: +33
(0)6 83 28 04 15
|
QUARTERLY REVENUE
In € millions |
Q1 2022
|
Q1 2023
|
Total year-on-year change |
Like-for-like year-on-year change(2) |
|
Group |
120.2 |
143.8 |
+19.7% |
+16.4% |
| |
|
|
|
|
|
Nuclear(1) |
87.7 |
100.9 |
+15.0% |
+15.7% |
|
ET&I(1) |
32.5 |
42.9 |
+32.1% |
+18.3% |
In € millions |
Q2 2022
|
Q2 2023
|
Total year-on-year change |
Like-for-like year-on-year change(2) |
|
Group |
121.5 |
138.6 |
+14.1% |
+11.4% |
|
|
|
|
|
|
|
Nuclear(1) |
84.0 |
97.2 |
+15.7% |
+16.2% |
|
ET&I(1) |
37.4 |
41.4 |
+10.7% |
+0.7% |
In € millions |
Q3 2022
|
Q3 2023
|
Total year-on-year change |
Like-for-like year-on-year change(2) |
|
Group |
118.9 |
139.3 |
+17.1% |
+15.0% |
|
|
|
|
|
|
|
Nuclear(1) |
81.9 |
95.5 |
+16.6% |
+16.5% |
|
ET&I(1) |
37.0 |
43.8 |
+18.1% |
+11.8% |
In € millions |
Q4 2022
|
Q4 2023
|
Total year-on-year change |
Like-for-like year-on-year change(2) |
|
Group |
132.9 |
155.8 |
+17.2% |
+15.5% |
|
|
|
|
|
|
|
Nuclear(1) |
91.3 |
110.5 |
+21.0% |
+20.6% |
|
ET&I(1) |
41.6 |
45.3 |
+8.8% |
+4.3% |
(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 business
activities in the Pacific area (accounted for in ET&I and
deconsolidated since 1 December 2023) represented revenue of €13.8
million in 2023 (11 months) and €12.7 million in 2022 (full
year).
(2) Based on a comparable scope of consolidation and
constant exchange rates.
- ASSYSTEM Chiffre d'affaires 2023_ eng
Assystem (LSE:0OA7)
Historical Stock Chart
From Mar 2024 to Apr 2024
Assystem (LSE:0OA7)
Historical Stock Chart
From Apr 2023 to Apr 2024
