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2014 first half sales

04/08/2014
2014 first half sales

2014 first half sales: €133m

Acceleration in Q2

In millions of euros 2014

2013

(Equatorial Guinea deconsolidated)

 (constant exchange rates)
First quarter 65.8 72.8
Second quarter 67.6 78.1
First half of the year 133.4 150.9 -4.3 %

 

 CIS reports sales of €133 million for the first half of 2014, on track with forecasts. This includes accelerated momentum in the second quarter of nearly 3% compared to the first quarter of the year.

 The Group was impacted by a downturn in the mining sector (Mongolia, Sierra Leone, Mauritania) and the planned scale-down of the major construction project of Koniambo (New Caledonia).

In addition, foreign exchange rates had an adverse impact on sales of €11 million.

In contrast, over the period, the solidity of the Group's activity was confirmed in particular by:

-       very significant progress in several countries such as Algeria, Russia and Chad;

-       the first recurrent effects of new contracts that began in the 2013 second half (Mali, Dominican Republic and Mozambique),

The order book is at a high level of US$256 million and notably includes a number of major contracts: SAMSUNG in Bolivia, RIO TINTO in Mongolia, RUSSIAN PLATINUM in Russia.

 

Revenue by geographic segment                         Revenue by industry segment

  First half 2014 First half 2013     First half 2014 First half 2013
North Africa 32% 26%   Oil and Gas 66% 58%
Sub-Saharan Africa 28% 24%   Mining 31% 40%
South America 19% 19%   Construction / Civil Engineering 2% 1%
Asia / Pacific Region 10% 22%   Engineering 1% 1%
CIS (Commonwealth of Independent States) 10% 7%   TOTAL 100% 100%
Middle East 1% 2%  
TOTAL 100% 100%  

 

Strong development prospects

At constant exchange rates, growth in sales is expected in the second half of the year compared to the same period of last year.

Moreover, CIS has just established a new joint venture agreement with a major Saudi Arabian Group, getting a foothold in the high growth potential area of Middle East. 

New partnerships in this region and in Africa are in the process of finalisation.

On the 30th of June 2014, the Group's financial structure remained solid with a positive net cash position.

 

Next press release: H1 2014 results, 25 September 2014 (after the close of trading)