ASSYSTEM

2015 Consolidated Revenue, Solid full-year growth: 4.7%, Acceleration of growth in the fourth quarter: 9.6%

2015 Consolidated Revenue

• Solid full-year growth: 4.7%
•  Acceleration of growth in the fourth quarter: 9.6%

Paris, 11 February 2016, 5.35 p.m. CET - Assystem S.A. (ISIN code: FR0000074148 - ASY), a leading player in engineering, today released its consolidated revenue figures for the year ended 31 December 2015.

In line with changes and developments in its business activities and the corresponding modifications to its internal reporting, Assystem has decided to alter the presentation format for its revenue and earnings publications as from its full-year 2015 releases.

The three businesses now presented are: Global Product Solutions (outsourced R&D), Energy & Infrastructure (complex infrastructure engineering) and Staffing (worldwide assignment of consultants specialised in oil and gas and other industrial sectors). These three businesses correspond to the three cash-generating units (CGUs) - as defined in IFRS - that are now used for the Group's consolidated financial statements.

In addition, the activities that cannot be allocated to any of the three above-mentioned CGUs have been reclassified from Global Product Solutions to a separate category entitled "Other".

2015 consolidated revenue and year-on-year changes

In millions of euros		2014		2015		Total year-on-year change (%)		Organic year-on-year change (%)*
Group		866.6		907.7		+4.7%		+2.0%
Group excluding Staffing		789.4		847.6		+7.4%		+4.3%
Global Product Solutions		504.6		528.6		+4.8%		+4.6%
Energy & Infrastructure		277.7		311.1		+12.0%		+3.8%
Staffing		77.2		60.1		-22.2%		-22.2%
Other		7.1		7.9		-		-
France		534.1		557.5		+4.4%		+4.3%
International		332.5		350.2		+5.3%		-1.4%**

 * At actual exchange rates
** +4.4% excluding the impact of the contraction in revenue for the Staffing business

Consolidated revenue rose by a solid 4.7% overall in the year ended 31 December 2015, with the pace of growth picking up significantly in the second half, to 7.6%. For the fourth quarter, year-on-year revenue growth was 9.6%.

Organic growth at actual exchange rates amounted to 2.0%. Excluding the impact of the contraction in revenue for the Staffing business, organic growth was 4.3% (7.3% in the fourth quarter), of which 1.4 points were due to the increase in the value of the pound sterling against the euro (1.2 points in the fourth quarter).

GLOBAL PRODUCT SOLUTIONS

Total revenue growth for Global Product Solutions (which contributed 58.2% of total consolidated revenue in 2015) reached 4.8%, breaking down as 4.6% in organic growth and a 0.2% increase resulting from the fourth-quarter acquisition of Plast Concept - a company specialised in plastics engineering.

This business's overall growth was fuelled by the strong momentum experienced throughout the year in its Automotive activities whose revenue climbed 26% to €154.5 million.

Revenue from Aerospace activities edged down 0.7% year on year to €325.5 million. However, excluding the impact of a decrease in LAK^[1] activities, it was up by 0.8% (3.8% in the second half).

ENERGY & INFRASTRUCTURE 

Total revenue growth for the Energy & Infrastructure business (which contributed 34.3% of total consolidated revenue in 2015) came to 12.0%, with 3.8% in organic growth and 8.2% stemming from changes in scope of consolidation due to the full-year consolidation of the Saudi-based company Radicon.

Revenue for Nuclear activities rose 2.4% to €179 million, driven by a solid 4.6% increase in the second half of the year. Other Energy & Infrastructure activities (conventional power, building and transport infrastructure, life sciences, systems and automation) reported €132 million in revenue, led by the full-year consolidation and brisk growth momentum of Radicon (whose revenue amounted to €30 million in 2015).

STAFFING

The Staffing business (which contributed 6.6% of total consolidated revenue in 2015) was adversely affected throughout the year by the difficult operating environment in the oil and gas sector, which still represents over 75% of this business's revenue.

The Group is currently taking steps to diversify the Staffing business, both in terms of geographic regions and industrial sectors. However, in view of this business's outlook, the Group intends to record a €7 million impairment loss as a non-recurring operating expense in its 2015 consolidated financial statements to write down the value of the business's assets.

HEADCOUNT

The Assystem Group had 11,553 employees at 31 December 2015, representing a net year-on-year increase of 286 people based on a constant Group structure.

FINANCIAL CALENDAR

-       14 March 2016: Results for the year ended 31 December 2015 (after close of trading)
                Results presentation meeting - 15 March 2016 at 8.30 a.m. CET

Assystem is an international group specialised in engineering. As a key participant in the industry for 50 years, Assystem supports its clients in developing their products and managing their capital expenditure throughout the product life cycle. Assystem employs 11,500 people worldwide and generated €908 million in revenue in 2015. The Company is listed on Euronext Paris.
For more information please visit www.assystem.com
Follow Assystem on Twitter: @anewpath2growth

CONTACTS

Philippe Chevallier Deputy Chief Executive Officer & Chief Financial Officer Tel.: [phone]

Pauline Bucaille Vice-President, Corporate Communications and Investor Relations Tel.: [phone] - [e-mail]

APPENDIX

·         Breakdown of 2015 revenue by quarter and year-on year changes

In millions of euros	Q1	Q2	Q3	Q4	2015
	2015	2015	2015	2015
Group	222.3	224.9	218.8	241.7	907.7
% change	0.3%	3.6%	5.5%	9.6%	4.7%
Group excluding Staffing	206.8	208.8	204.8	227.3	847.6
% change	3.1%	6.2%	8.7%	11.5%	7.4%
Global Product Solutions	127.8	130.0	127.0	143.7	528.6
% change	0.3%	4.0%	3.3%	11.2%	4.8%
Energy & Infrastructure	76.9	76.9	75.8	81.5	311.1
% change	8.3%	10.4%	18.2%	11.9%	12.0%
Staffing	15.5	16.1	14.1	14.4	60.1
% change	-25.9%	-21.6%	-26.0%	-14.0%	-22.2%
Other	2.1	1.9	1.9	2.0	7.9
France	137.3	137.8	130.6	151.8	557.5
% change	0.5%	2.3%	5.3%	9.4%	4.4%
International	85.0	87.1	88.2	89.9	350.2
% change	0.1%	5.7%	5.9%	9.9%	5.3%

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^[1] Leiharbeitskraft activities correspond to the assignment of engineers to a client facility in Northern Germany.

Assystem 2015 FY Revenue

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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: ASSYSTEM via Globenewswire

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