H1 2020 revenue
Published on 05/08/2020
H1 2020 revenue: €130.2 million
Business remains resilient with growth in the first half of 10.4% at constant currency
CIS reported revenue for the 2020 first half of €130.2 million, up 10.4% at constant currency. On a reported basis, Group revenue grew 4.8%.
After an excellent performance in Q1 (+24.2% excluding exchange-rate effects), business momentum was temporarily impacted by the adverse effects of Covid-19. In response, revenue in Q2 contracted 1.4% at constant currency (-9.6% on a reported basis). This limited decline reflects the Group’s underlying strength over the period. More specifically, the impact of Covid-19 was offset by increasing contributions from a number of contracts, the achievement of commercial successes, the integration of the Brazilian companies, Alternative and Beta and the addition of new countries of operation.
Revenue by region
Outlook
Beyond the resilience of business during this unprecedented health crisis, the Group displayed strong commercial momentum with the signature of a number of new long-term contracts in Africa and Eurasia. In addition, nearly all CIS’ contracts were renewed in the period.
Despite limited visibility over the duration of the crisis, the Group is expecting marginal growth for the full year (excluding exchange-rate effects).
Finally, based on the numerous consultations in the pipeline, including some expected to represent sizable amounts, the Group confirms its confidence in the outlook for strong growth starting in 2021.
About CIS
Since 1992, 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 20 countries with nearly 220 operating sites and a worldwide staff today numbering nearly 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: 17/09/2020, after the close of trading:
H1 2020 results
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