2023 second-quarter revenue
Published on 02/08/2023
Business growth on a constant currency basis: up 7.7%
Stable business volumes over the first half of the year
(1) Revenue not audited by the Statutory Auditors (2)CC: constant currency
For the second quarter of 2023, CIS reported revenue of €79.5 million. This marked a slight 2.0% contraction from the second quarter of 2022.
However, at constant exchange rates, this Q2 revenue came out at €87.4 million, showing a significant 7.7% increase from the same period in 2022.
Over the first half of the year, business activity remained stable, but revenue fell slightly – 0.3% on a constant currency basis and 1.6% on a reported basis – from the previous year.
Activity in the second quarter of 2023
Geographically speaking, Africa and Eurasia were the main business drivers. In Africa, activity remained strong at certain Group subsidiaries, primarily in the Democratic Republic of the Congo, Mauritania and Algeria. In Eurasia, CIS stepped up its business in Kazakhstan, another of the Group’s long-standing regions of operation that continues to hold strong potential.
As expected, the Americas region experienced a drop in revenue in a period marked by renewals and calls for tender launched by regional companies. The Group won some of these contracts, and, by the end of the second quarter, this increased business had already made a positive impact on revenue in the region. Further contracts are expected to be awarded in the near future.
2023 outlook
Today’s economic and geopolitical climate remains complex, and CIS is demonstrating its ability to maintain strong business activity in most of the regions where it operates.
As the world is also undergoing an energy transition, CIS is determined to act on any new opportunities in the energy and mining sectors while targeting major projects and moving into new countries. The Group therefore plans to continue developing, building on the quality of its services and innovative solutions, as well as through its ESG initiatives.
In addition, CIS remains determined to seize upon any valuable acquisition opportunities either to further its core business or expand its range of services.
Revenue by region
Revenue by region
About CIS
CIS was created in 1992 by its Chairman, Régis Arnoux. CIS Group has been supporting major players in the energy, 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 20 countries with nearly 250 operating sites and a worldwide staff today numbering 12,000, 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: 14 September 2023, after the close of trading: H1 2023 results
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