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Assystem Earnings Release 2013

Feb 10, 2014

1122_iss_2014-02-10_d4add26e-3f7e-47f7-a90c-b2b8723185d6.pdf

Earnings Release

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2013 Consolidated Revenue Up 1.8%

  • Growth of 2.3% at constant structure and exchange rate
  • Confirmation of full-year operating margin at the lower end of the 6%-6.5% target range

(Paris – 10 February 2014, 5:45 p.m.) – Assystem S.A. (ISIN: FR0000074148 - ASY), a leading Innovation and Engineering Consultancy, today announced its consolidated revenue for the year ended 31 December 2013.

€m 2012 Q1
2013
Q2
2013
Q3
2013
Q4
2013
2013*
Consolidated
revenue
855.6 217.5 218.5 208.6 226.8 871.4
% change - 0.2% 4.0% 3.3% 0.1% 1.8%
France 521.0 130.7 130.7 122.6 139.3 523.3
% change - -3.7% 2.1% 3.7% 0.1% 0.4%
International 334.6 86.8 87.8 86.0 87.5 348.1
% change - 6.6% 7.0% 2.6% 0.2% 4.1%

Full-year 2013 Consolidated Revenue (unaudited)

NB: In the third and fourth quarters, the scope of consolidation was exactly the same in 2012 and 2013. The 2013 figures reflect the changes in scope of consolidation resulting from the disposal of Anafi in late May 2012 and the consolidation since 1 February 2012 of international operations managed from Dubai. *at current exchange rate

In the last three months of 2013, revenue was unchanged compared with fourth-quarter 2012, both in France and in international markets, in which the Group remains impacted by an unfavourable exchange rate with the British pound. In France, the strategic nuclear and aerospace businesses expanded, unlike the other segments. In addition to the unfavourable currency effect, slower growth in international markets reflected the decline in the aerospace businesses in the United Kingdom, Germany and Spain. On the other hand, business in North America, Belgium and Romania rose sharply.

For the full year, consolidated revenue amounted to €871.4 million, an increase of 1.8% as reported and of 1.6% on an organic basis.

Revenue from complex infrastructure engineering (42% of the consolidated total) rose by 4% as reported over the full year and by 3.4% on an organic basis. The nuclear business was up a stillsolid 10%, led by upgrades to France's installed base and robust growth in the UK.

Revenue from outsourced R&D operations1 was generally unchanged from the previous year, although performance varied from one segment to another. The aerospace segment rose by 6.8%, or by 8.5% excluding the unfavourable impact of the British pound. The automotive segment experienced another difficult year due to the 19.5% fall-off in demand from French automakers, which was not offset by the13% growth in international markets.

Assystem had 11,045 employees at 31 December 2013, representing a net increase of 300 people since year-end 2012.

The operational invoicing rate stood at 91% for the full year, unchanged from 2012, and amounted to 89.7% in the fourth quarter.

For the full year, Assystem is confirming its operating margin objective at the lower end of the 6%-6.5% target range.

INVESTOR CALENDAR

  • 12 March 2014, after close of trading: 2013 financial results announced
  • 13 May 2014, after close of trading: Revenue for the three months ended 31 March 2014 announced
  • 22 May 2014: Annual General Meeting

Assystem is an international Engineering and Innovation Consultancy. As a key participant in the industry for more than 40 years, Assystem supports its customers in developing their products and managing their capital expenditure throughout the product life cycle. Assystem employs more than 11,000 people worldwide and reported €871.4 million in revenue in 2013. The Company is listed on NYSE Euronext Paris – Compartment B - Code ISIN: FR0000074148 – ASY. For more information: www.assystem.com

Follow Assystem on Twitter: @anewpath2growth

CONTACTS

Gilbert Vidal Chief Financial Officer Phone: +33 (0)1 55 65 03 10

Pauline Bucaille

Vice President, Corporate Communications and Investor Relations

Nicolas Castex - Agnès Villeret - Lucie Larguier Citigate Dewe Rogerson Phone: +33 (0)1 53 32 78 95 – +33 (0)1 53 32 84 75 [email protected] / [email protected]

Phone: +33 (0)1 55 65 03 08 – [email protected]

1 Comprises the Aerospace Engineering and Technology & Product Engineering business units.

APPENDICES

REVENUE BY BUSINESS UNIT, YEAR ENDED 31 DECEMBER 2013

€m Q4 2012 Q4 2013 % of
consolidated
total
Reported
growth
Organic
growth*
Infrastructure Engineering & Operations 94.3 95.7 42% 1.5% 1.5%
Aerospace Engineering 64.3 66.5 29% 3.4% 3.4%
Technology & Product Engineering 67.8 64.6 29% -4.8% -4.8%

NB: In the fourth quarter, the scope of consolidation was exactly the same in 2012 and 2013. *Including the currency effect

€m FY 2012 FY 2013 % of
consolidated
total
Reported
growth
Organic
growth*
Infrastructure Engineering & Operations 352.1 366.2 42% 4.0% 3.4%
Aerospace Engineering 239.5 255.9 29% 6.8% 6.8%
Technology & Product Engineering 263.9 249.3 29% -5.5% -5.5%

*Including the currency effect