2021 annual results
Published on 13/04/2022
Recurring revenue growth and return to profitability
Revenue: +11% at CC1
Net Profit attributable to the Group: €5.1 million
Dividend payment of €0.159 per share
Sustained commercial momentum
Revenue for 2021 rose 11.0% at CC from 2020 (€283.8 million). Business benefited from sustained commercial momentum, particularly in South America, Africa and Eurasia, and from the ramp-up of numerous contracts.
Following a first half impacted by negative currency effects, this trend gradually reversed in the second half of the year.
On a reported basis, 2021 revenue totalled €270.7 million, up 5.8% in relation to 2020.
Sharp rise in Net Profit attributable to Group shareholders and strengthened shareholder’s equity
For 2021, CIS posted current operating profit of €11.8 million, representing a current operating margin of 4.4%, up from pre-pandemic levels (3.8% in 2019).
Net profit amounted to €7.0 million and Net Profit attributable to Group shareholders came out at €5.1 million, versus a loss of €2.6 million for the previous year.
The Group’s financial position showed shareholder’s equity of €57.3 million, up nearly 9%, and net cash of €58.2 million.
Financial debt fell 5% to €34.3 million.
Proposed dividend payment of €0.159 per share
At the next General Meeting of the shareholders, the Board of Directors will propose a dividend payment of €0.159 per share with a payment date of June 24th 2022.
Outlook
CIS Group expects continued growth in 2022 by further strengthening its market share and rolling out innovative services.
CIS confirms its intention to pursue opportunities to extend its range of services and further its development by acquiring companies offering specific or complementary expertise or a presence in new strong growth regions.
About CIS
CIS was created in 1992 by its Chairman and Chief Executive Officer, Régis Arnoux. CIS Group has been supporting major players in the hydrocarbon, mining, construction and armed forces sectors, at every stage of their projects, in the most remote offshore and onshore environments. As a provider of integrated services, CIS has a full range of services and turnkey solutions designed to assure the well-being and safety of the residents of our remote sites so that our customers can concentrate on their own core businesses.
Present in 19 countries with nearly 290 operating sites and a worldwide staff today numbering more than 15,000, CIS has a strong commitment to contributing to the economic and social development of the local populations and countries where it operates.
Next press release: 03/08/2022, after the close of trading: H1 2022 sales
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