ASSYSTEM: 2021 consolidated revenue: €483.1 million

        

2021 consolidated revenue: €483.1 million

Paris-La Défense, 9 February 2022, 5.35 p.m. (CET) – Assystem S.A. (ISIN: FR0000074148 – ASY), an international engineering group, today released its revenue figures for the year ended 31 December 2021.

On 1 January 2022 Assystem sold its life sciences and general industry technical assistance businesses to Expleo Group, as announced on 6 December 2021. In accordance with IFRS 5, these divested businesses were deconsolidated with effect from 1 January 2021. The revenue generated by these businesses in 2021 (€38.1 million) has therefore not been included in the Group’s consolidated revenue. The consolidated revenue figure for 2020 has been restated in order to enable meaningful year-on-year comparisons.

Consolidated revenue and year-on-year changes (unaudited)

In millions of euros	2020 Reported	2020 Restated(1)	2021 Reported	Total year-on-year change(2)	Like-for-like year-on-year change(2)(3)
Group	471.7	438.8	483.1	+10.1%	+7.8%
Nuclear	294.5	294.5	326.2	+10.8%	+9.8%
ET&I(4)	174.1	141.2	156.9	+11.1%	+3.7%
Other(5)	3.1	3.1	-	-	-

(1) Restated to enable meaningful year-on-year comparisons.
(2) Compared with 2020 restated data.
(3) Based on a comparable scope of consolidation and constant exchange rates.
(4) Stup Consultants has been consolidated since 1 July 2021 and Schofield Lothian since 1 October 2021.
(5) The business corresponding to the “Other” segment has been deconsolidated since 1 July 2020.

Assystem’s consolidated revenue totalled €483.1 million in 2021, up 10.1% on the restated figure for 2020. The year-on-year increase breaks down as 7.8% in like-for-like growth, a positive 2.5% impact from changes in the scope of consolidation, and a 0.2% negative currency effect.

In the fourth quarter of 2021, consolidated revenue came to €129.7 million (versus €118.4 million in the same period of 2020), representing a 9.5% year-on-year increase. Like-for-like growth was 0.9%, changes in the scope of consolidation had a positive 6.7% impact (stemming from the consolidation of the India-based company STUP and Schofield Lothian), and the currency effect was a positive 1.9%. Like-for-like revenue growth for the quarter was negatively affected by the impacts of Covid-19 on billed hours and the end of the ENEC contract (representing negative impacts of (i) c. €2.0 million and (ii) €2.2 million respectively).

NUCLEAR (68% of 2021 consolidated revenue)

Revenue from Nuclear activities totalled €326.2 million in 2021, versus, €294.5 million and €301.9 million respectively in 2020 and 2019.

At 10.8%, year-on-year growth was particularly strong (breaking down as 9.8% like-for-like growth, a positive 0.7% impact from changes in the scope of consolidation and a favourable 0.3% currency effect). The increase was also high compared against 2019 (+8.1% in total). In both cases, the revenue rises were fuelled by the Group’s activities in France and the United Kingdom.

Fourth-quarter Nuclear revenue amounted to €83.3 million, versus €79.5 million (including €2.2 million from the ENEC contract) and €81.9 million (including €4.8 million from the ENEC contract) in the fourth quarters of 2020 and 2019 respectively. Like-for-like growth for the fourth quarter of 2021 was 3.1% (5.9% excluding the impact of the end of the ENEC contract).
ENERGY TRANSITION & INFRASTRUCTURES (ET&I) (32% of 2021 consolidated revenue)

In 2021, Assystem acquired two companies in order to reinforce its operating presence and expertise in India and the United Kingdom. In India, it acquired Stup Consultants, specialised in transport infrastructure engineering (consolidated since 1 July), and the UK acquisition was Schofield Lothian, a consulting firm specialised in rail projects (project management, consents & engagement services, environmental impact assessments and contract and commercial management services), which has been consolidated since 1 October 2021.

ET&I revenue (excluding the businesses sold to Expleo Group) came to €156.9 million in 2021, compared with €141.2 million in 2020. Year-on-year growth was 11.1% (3.7% like-for-like growth, a positive 8.7% impact from changes in the scope of consolidation, and a 1.3% negative currency effect).

In the fourth quarter of 2021, revenue generated by the ET&I business totalled €46.3 million, versus €38.9 million in the same period of 2020. The 18.9% year-on-year increase includes a positive 20.4% impact from changes in the scope of consolidation, 3.6% negative like-for-like growth (o/w 3.3% related to the Staffing business) and a 2.1% favourable currency effect.

2022 FINANCIAL CALENDAR

15 March:	Full-year 2021 results release – Results presentation on 16 March at 8.30 a.m. (CET)
28 April:	First-quarter 2022 revenue release
3 June:	Annual General Meeting
28 July:	First-half 2022 revenue release
14 September:	First-half 2022 results release – Results presentation on 15 September at 8.30 a.m. (CEST)
27 October:	Third-quarter 2022 revenue release

ABOUT ASSYSTEM
Assystem is one of the world’s leading players in engineering services for energy transition. It also partners its clients in their digital transition, drawing on its in-depth knowledge of their processes and infrastructure. Assystem S.A. is listed on Euronext Paris.
For more information visit www.assystem.com / Follow Assystem on Twitter: @Assystem

CONTACTS 

Philippe Chevallier – CFO & Deputy CEO – Tel.: +33 (0)1 41 25 28 07
Anne-Charlotte Dagorn – Communications Director – acdagorn@assystem.com – Tel.: +33 (0)6 83 03 70 29

Agnès Villeret – Komodo – Investor relations – agnes.villeret@agence-komodo.com – Tel.: +33(0)6 83 28 04 15

QUARTERLY REVENUE

In millions of euros	Q1 2020 reported	Q1 2020 restated(1)	Q1 2021 reported	Q1 2021 restated	Total year-on-year change	Like-for-like year-on-year change(2)
Group	122.9	114.2	127.9	118.3	+3.7%	+6.0%
Nuclear	74.5	74.5	81.8	81.8	+9.8%	+9.2%
ET&I(3)	46.6	37.9	46.1	36.5	-3.6%	+0.2%
Other(4)	1.8	1.8	-	-	-	-

In millions of euros	Q2 2020 reported	Q2 2020 restated (1)	Q2 2021 reported	Q2 2021 restated	Total year-on-year change	Like-for-like year-on-year change (2)
Group	106.6	98.9	125.5	116.2	+17.4%	+19.6%
Nuclear	66.9	66.9	81.9	81.9	+22.5%	+21.9%
ET&I(3)	38.4	30.7	43.6	34.3	+11.5%	+15.4%
Other(4)	1.3	1.3	-	-	-	-

In millions of euros	Q3 2020 reported	Q3 2020 restated (1)	Q3 2021 reported	Q3 2021 restated	Total year-on-year change	Like-for-like year-on-year change (2)
Group	115.2	107.3	128.2	119.0	+10.9%	+6.2%
Nuclear	73.6	73.6	79.2	79.2	+7.5%	+6.7%
ET&I(3)	41.6	33.7	49.0	39.8	+18.2%	+5.3%

In millions of euros	Q4 2020 reported	Q4 2020 restated (1)	Q4 2021 reported	Q4 2021 reported/restated	Total year-on-year change	Like-for-like year-on-year change (2)
Group	127.0	118.4	129.7	129.7	+9.5%	+0.9%
Nuclear	79.5	79.5	83.3	83.3	+4.9%	+3.1%
ET&I(3)	47.5	38.9	46.3	46.3	+18.9%	-3.6%

(1) Restated to enable meaningful year-on-year comparisons.
(2) Based on a comparable scope of consolidation and constant exchange rates.
(3) Including Staffing revenue amounting to €38.9m in 2020 (€10.1m in Q4) and €37.8m in 2021 (€9.2m in Q4). The India-based company STUP Consultants Private Limited – which has been consolidated since 1 July 2021 – contributed €10.0m to consolidated revenue in 2021 (€5.7m in Q4) and Schofield Lothian Ltd – which has been consolidated since 1 October 2021 – contributed €2.3m.
(4) The business corresponding to the “Other” segment has been deconsolidated since 1 July 2020.

Attachment

• PR 2021 consolidated revenue Assystem Eng