2023 Annual Revenue
Published on 17/01/2024
Accelerated growth in the fourth quarter:
+25.6% at constant currency
Successful launch of two major contracts in Kazakhstan and Guinea-Conakry
(a) Revenue not audited by the Statutory Auditors. (b) CC: constant currencies.
Revenue for the 2023 financial year totalled €326.2 million, up 10.2% on a constant currency basis compared with 2022.
The successful launch of two contracts won in Guinea and Kazakhstan in the third quarter1 fully contributed to the acceleration in growth in the fourth quarter. Over the last three months of the year, business activity grew by 25.6% on a constant currency basis.
Exchange rates had a negative impact of €32.9 million. However, the trend started to turn around at the end of the year (negative impact of €14.1 million in Q4 vs. a negative impact of €16.9 million in Q3).
Geographically speaking, Africa and Eurasia are driving activity. These two regions grew by 17.4% and 10% respectively (on a constant currency basis). As forecast, revenue fell in South America (down 22.7% over 2023) due to structural market factors with calls for tender to renew contracts. CIS predicts that activity in this region will regain momentum in 2024. A first step towards this recovery is the three-year $64 million contract won in Brazil in November 20232, on behalf of the state-owned oil and gas company, Petrobras.
2024 outlook
In 2024, CIS expects sustained growth to continue on a constant currency basis. As such, the Group intends to seize any opportunities that will strengthen its long-standing bases of operations while expanding its geographical presence in new regions.
CIS remains determined to act on acquisitions in its core business and confirms its target to serve the high value-added cleaning market in France.
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.
For more information, go to: www.cis-integratedservices.com
Euronext Growth Paris: ISIN FR0000064446
Reuters: ALCIS.PA – Bloomberg: ALCIS:FP
Next press release: 17 April 2024, after the close of trading: FY 2023 annual results and Q1 2024 revenue
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