Financial statements for fiscal 2016-2017 Marked improvements across the board

Financial statements for fiscal 2016-2017 Marked improvements across the board

Operating income from business up 48.8 percent

The SII engineering consulting group has announced its financial results for fiscal 2016-2017, which were approved by the Management Board on June 2, 2017 and are currently being audited.

Management Board Chairman Eric Matteucci issued the following statement: “In fiscal 2016-2017, SII was able to rely on the quality of its teams and services to accelerate the growth of its revenue while significantly raising its earnings. One of the year’s highlights was the acquisition of Feel Europe, which expands the SII Group’s line of services to the banking & insurance sector.

Because of its strong position, SII anticipates revenue to increase to €545m next year, with a somewhat smaller improvement in operating income, as the period will have fewer working days. The SII Group expects its operating margin to again improve starting in fiscal 2018-2019.”

Revenue for fiscal 2016-2017 exceeded target

The Group reported revenue of €438.85m for the year ended March 31, 2017, higher than had been estimated at the start of the period (€418m to €426m) and consistent with the revised target announced at the end of the first half (more than €430m). This result (an increase of 21.9 percent over fiscal 2015-2016, including organic growth of 14.6 percent) was attributable to strong growth in all sectors and the gain of additional market shares by the Group’s international operations. Business outside France increased by 30.7 percent. It should also be noted that the addition of Feel Europe effective March 1, 2017 contributed additional revenue of €4.6m.

Continued overall hiring efforts

The SII Group kept its hiring policy unchanged, including by relying on its “FUNgineers” campaign. A total of 2,271 staff members were hired during the period (compared with 2,146 for the whole of fiscal 2015-2016). After adding the Feel Europe staff, the SII Group had a total workforce of 6,775 persons at the end of the year, including 3,394 in its international operations.
The billable hours ratio (exclusive of paid holidays) increased by 1.0 percent during the year, to 90.5 percent from the previous 89.5 percent.

Sharp increase in income and margins during the period

All SII Group profitability benchmarks improved significantly, boosted in part by a greater number of working days and the improved billable hours ratio:

- Operating income from business: up 48.8 percent
- Operating income: up 55.2 percent (operating margin: up €7.62 percent)
- Net income after minority interests: up 70.0 percent

The business generated net cash flow of €23.06m (up from €5.94m the previous year), thanks to a marked increase in net income before depreciation and impairment allowances. Net cash at the end of the year stood at €7.1m, while equity had risen to €108.6m.

Proposed dividend of €0.12 per share

In keeping with its policy of returns to shareholders and active earnings distribution, SII will propose a dividend payment of 0.12 euros per share at the stockholders’ meeting on September 19, 2017.


Fueled by sound conditions in the sector and by the consolidation of Feel Europe over the full year, the SII Group has set its revenue objective for fiscal 2017-2018 at €545m, with a lesser increase expected in its operating income. Improved margins at international operations will not be sufficient to offset the decrease in working days and the dilutive impact of Feel Europe over the two years immediately following its acquisition. The SII Group is confident that its operating margin will again improve starting in fiscal 2018-2019, reflecting efforts made in terms of returns and a more favorable calendar.

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