H1 2021 results

Growth and profitability during a period of instability caused by the health crisis

Revenue: €129.0m (+11.6% at CC*)
Current Operating Profit: €6.0m (+10.6% at CC*)
Consolidated Net Profit: €3.5m (+€4.0m)

Continuing growth momentum despite the health crisis

The Group reported revenue in H1 2021 of €129.0m, up 11.6% at CC in relation to H1 2020. This performance was driven by a particularly dynamic second quarter based on significant growth in sales of 19.2% at CC compared to Q2 2020 amounting to €66.4m.

Growing contributions from a number of operations as well as new contracts generated an additional €20m in revenue in the first half, reflecting the efforts of teams in South America, Africa and Eurasia.

A gradual reduction in unfavourable currency effects

A negative currency effect of €16.3m for the first half reflected mainly the depreciation of the Brazilian real, the Russian rouble and the Algerian dinar.

These currencies lost more than 40% in the second quarter and based on current exchange rate trends, are expected to further decline in the upcoming quarters.

Positive earnings and a strong financial position

In H1 2021, current operating profit amounted to €6.6m at CC compared to €6.0m in H1 2020, with the current operating margin remaining steady at 4.6%.

Despite the significant impact of foreign exchange trends in 2020 (-€4.7m) net financial income in H1 2021 amounted to €1.2m.

Net profit in the first half rose by €4.0m to €3.5m compared to a loss of €0.5m one year earlier.

The Group’s financial position remains solid with shareholders’ equity of €54.7m and net cash of €48.7m at 30 June 2021. Financial debt has decreased and at 30 June 2021 stood at €35.3m.

Outlook and growth prospects

CIS intends to bolster its presence in regions with high growth potential by expanding into new strategic countries and rolling out new innovative services which offer customers high added value.

CIS will also continue pursue opportunities for growth by acquiring companies offering specific or complementary expertise within the sectors of deep cleaning, health and related services or a presence into new regions.

Despite the continuing instability of the international environment as a result of the health crisis, CIS Group remains confident in its ability to generate revenue growth in 2021 while strengthening its market share.

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 220 operating sites and a worldwide staff today numbering nearly 12,800, 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: October 20th 2021, after the close of trading: Q3 2021 sales