Meet Franck, our Group CFO

Learn more about the behind-the-scenes aspects of financial management and business strategy from Franck, our CIS Group CFO. Discover his inspiring career path and his thoughts on the crucial importance of financial management within the CIS Group.

On the occasion of the 30th anniversary of CIS, you are also celebrating your 30th anniversary within the Group. Can you tell us about your evolution and how you have perceived the evolution of the company?

I was recruited 30 years ago as an accountant, I was 26 years old and had just finished my studies. I was lucky to have been involved in this great adventure from the start. This allowed me to be confronted very early on with numerous problems, knowing that when CIS started, there were only 8 of us at the head office, we all had to be a bit of a generalist, multi-taskers and above all entrepreneurs in our approach to the company’s activity. Over the years, the Group has been able to structure itself with the creation of new services and the recruitment of various expertises that have allowed CIS to grow and progress.

The most striking evolution has been that of the means of communication and information. In 1992, there were no cell phones or email. Information was transmitted by Telex or Fax, accounting and management reports were sent to us once a month by mail from expatriates returning from rotation. The missions on site were real adventures.

Over the past 30 years, the market for life-cycle management in which CIS is positioned has evolved considerably. How do you perceive this evolution?

From a logistical point of view, the activity was complicated, but it was simpler in the relationship with our customers, with whom it was possible to establish long-term relationships based on trust. Procurement services were not very developed, decisions and negotiations were made directly with the clients.

An important point also concerns the competition, which was more concentrated on large international operators. Local competitors were much more limited than today.

CIS has outperformed in 2022 with an increased turnover target (€325M), how do you explain this?

Indeed, this year, for its 30th anniversary, CIS will record the highest turnover since its creation. Some of our subsidiaries have recorded very good performances and sustained growth with the start of significant new contracts.

«The strong growth phases in the history of CIS have always coincided with the signing of major contracts.»

Finally, after many years of being penalized by weak exchange rates (particularly in fiscal 2020), fiscal 2022 will have benefited from a general improvement in the exchange rate of our billing currencies.

What do you believe are the assets that have allowed CIS to benefit from this growth?

This performance is due to the commitment of all the CIS teams at headquarters and especially in our countries of operation, who should be particularly congratulated. It is also a form of recognition of the quality of our services and our commitment, which is the basis of CIS’ DNA.

How do you see the Group’s performance in 2023? What will be the priority issues to be addressed?

The 2023 budget approved at the Convention last November is ambitious and in line with the BP 2023 set two years ago. First of all, it will be necessary to transform the commercial bets for development and contract renewals.

« We will have to face the phenomenon of inflation »

From a profitability point of view, we will have to face the phenomenon of galloping inflation in almost all of our countries of operation. We will have to be very disciplined and vigilant in monitoring our management and performance indicators, without forgetting the quality of service. We will also have to be close to our clients in order to renegotiate our contracts when opportunities arise.

Finally, «the last but not the least», the management of working capital and cash flow will be a determining factor in order to pursue our activity independently and support its growth. The sustainability of the Group will depend on cash!