2022 Annual Results
Published on 20/04/2023
Strong growth in revenue and results
Revenue of €325.7m (+20.3%)
EBITDA: €22.5m (+28.8%)
Net Profit attributable to the Group: €8.8m (+73.3%)
Dividend payment of €0.159 per share
The Board of Directors met on 20 April 2023 to adopt the Group's consolidated financial statements for the year ended 31 December 2022. The statutory auditors have completed their procedures for these accounts and their reports are in the process of being issued.
Strong growth in 2022
Revenue at 31 December 2022 rose 20.3% compared with annual revenue for 2021 (growth of 9.6% on a constant currency basis).
Business performance was driven by Eurasia and Sub-Saharan Africa. In South America, business volumes fell in the second half of the year before an expected rebound in 2023.
1CC : constant currency
Meanwhile, in North Africa, contracts offering diminishing profitability were voluntarily not renewed in 2022.
Sharp growth in earnings
For the 2022 financial year, CIS posted a 28.8% rise in EBITDA, which comes out to an operating margin of 6.9% (vs. 6.4% in 2021).
Net profit totalled €9.6 million and Net Profit attributable to Group shareholders amounted to €8.8 million (up 73.3% compared with 2021).
CIS boasts a solid financial position, with shareholders’ equity of €64.3 million at 31 December 2022 (vs. €57.3 million at 31 December 2021) and cash flow of €57.4 million.
Bank borrowings were reduced by €5.4 million in 2022 (down 19.5% from 31 December 2021).
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 on 23 June 2023.
2023 outlook
CIS intends to carry this strong business momentum forward in 2023 by developing its activities and moving into new countries.
In the current context of the global energy transition, CIS remains determined to seize new opportunities in the energy and mining sectors.
Furthermore, as part of its Group CSR policy, CIS is developing solutions that help to limit the carbon footprint for its businesses and for its customers.
Lastly, CIS is pursuing its acquisition strategy for its core business and in high value-added cleaning activities.
Next press release: 02/08/2023, after the close of trading: H1 2023 revenue
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