The SII Group’s revenues have experienced an incipient recovery in a period in which foreign revenues have represented 53% of the total. Good news for the company which, with these figures, has confirmed its forecasts for a gradual recovery in activity.
The SII Group has made public the economic results of the firs-half of 2020-2021 and its future forecasts. “In a crisis situation linked to Covid-19, which affected the entire beginning of the fiscal year, the SII Group experienced a measured decline in the first half of the year, sustained mainly by its international activities,” commented Eric Matteucci, Chairman of the Management Board. “After a first quarter strongly affected by a strict lockdown, the second quarter showed favorable signs of recovery in activity: teams were able to seize the opportunities at the end of the first lockdown in numerous sectors where the Group is present.”
Although he recalled that we must be cautious in the face of the still changing situation of the public health crisis and the measures taken by the different governments, Eric Matteucci has been confident that the Group’s results will continue to offer the growth dynamics shown in recent years.
Incipient recovery in the first semester 2020-2021
Revenues for this half-year stood at €301.2m, down 7.6% at constant rates (-5.9% at current rates), penalized by blackout periods in various countries. Due to the solidity of our international business, revenue from abroad accounted for 53% of the total.
In France, revenue stood at €140.2m, with the second quarter showing a gradual recovery in activity compared to the first. The diversity of the activity sectors in which the group operates favored this recovery, driven mainly by the Banking/Insurance and Telecommunications sectors.
Our international activities, on the other hand, generated €161.0m in revenue during the semester, which is 2.7% more than in the same period of the previous year. Poland posted a remarkable growth of 20.8% (at constant rates) with good results in the Banking/Mutual, Health and Electronics sectors. Germany and Spain, exposed to the aerospace and automotive sectors, and the service sectors, respectively, registered a decline, but signs of recovery were observed at the end of the semester, especially in Spain.
Likewise, the SII Group adapted its contracting rhythm to the crisis situation. This first semester ended with a drop in the workforce, with 8,334 employees compared to 8,601 at the end of March 2020. Even so, the Group continues to strive to maintain a high quality of life at work for its employees, whether remotely or on the job, and to improve the skills of your teams.
We continue working on the gradual recovery of the activity
The SII Group has strong fundamentals to take advantage of growth opportunities as the economy gradually recovers. By helping companies in their digital transformation, the Group can rely on stronger demand as new digital needs emerge in all sectors after the health crisis Diversified geographically and by sector, with a well-adapted organizational structure, the Group it has many strengths and levers to help you recover.
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