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MANAGEMENT REPORT
3
GROUP RESULTS
3.2
GROUP RESULTS
3.2.1
KEY FIGURES
In millions of euros
2016
2015
Year-on-year
change
Revenue
955.6
907.7
+5.3%
Operating profit before non-recurring items – EBITA
(1)
66.9
57.8
+15.7%
% of revenue
7.0%
6.4%
+ 0.6 pt
Consolidated profit for the period
(2)
32.1
27.9
+15.1%
Adjusted profit for the period
(3)
45.8
37.2
+23.1%
Free cash flow
(4)
45.3
44.8
+1.1%
% of revenue
4.7%
4.9%
(0.2) pt
Net cash/(debt)
(5)
(16.1)
198.8
-
Adjusted earnings per share
(6)
2.12
1.72
+23.3%
Dividend per share
(7)
(in euros)
1.00
0.80
+25.0%
(1) Operating profit before non-recurring items (EBITA) including share of profit of equity-accounted investees (€0.5 million in 2015 and €1.4 million in 2016).
(2) Including profit attributable to non-controlling interests amounting to €0.7 million in 2015 and €0.6 million in 2016. Profit for the period attributable to owners of the parent therefore totalled
€27.2 million in 2015 and €31.5 million in 2016.
(3) Consolidated profit for the period after deducting profit attributable to non-controlling interest and profit from discontinued operations, and (ii) for 2015, accrued coupons on the Odirnane
bonds; adjusted for the net of tax amounts of non-recurring income and expenses, and exceptional financial income and expenses.
(4) Net cash generated from operating activities less capital expenditure, net of disposals.
(5) Cash and cash equivalents less debt and after taking into account the fair value of hedging instruments.
(6) Adjusted profit for the period divided by the weighted average number of diluted shares outstanding (excluding the dilutive impact of the Ornane and Odirnane bonds).
(7) For 2016, the figure corresponds to the dividend that will be recommended at the Annual General Meeting on 16 May 2017.
3.2.2
REVENUE BY DIVISION
In millions of euros
2016
2015
Total year-on-year
change
Organic year-on-year
change*
Group
955.6
907.7
+5.3%
+5.4%
Global Product Solutions
577.5
528.6
+9.3%
+9.7%
Energy & Infrastructure
315.7
311.1
+1.5%
+1.3%
Staffing
53.2
60.1
(11.4)%
(11.4)%
Holding company and Other
9.2
7.9
–
–
* Based on a comparable Group structure and constant exchange rates.
Revenue generated by Global Product Solutions came to €577.5 million
and accounted for 60.4% of the consolidated total. This 9.3% year-
on-year increase – which was driven by Aerospace and Automotive
activities – breaks down as 9.7% in organic growth, a 1.3% positive
impact from changes in scope of consolidation and a 1.7% negative
currency effect.
Revenue for the Energy & Infrastructure business rose 1.5% to
€315.7 million and represented 33.0% of the consolidated total.
Organic growth and changes in scope of consolidation each added
1.3% to revenue in 2016 whereas the currency effect was a negative
1.1%. Excluding the impact of the revenue decline posted by the Saudi
Arabia-based company, Radicon, organic growth was 5.3%.
At €53.2 million (accounting for 5.6% of the consolidated total), revenue
for the Staffing business decreased by 11.4%, as the positive effects
of diversifying into the industry sector only partially offset the revenue
drop seen in the Oil & Gas sector.
ASSYSTEM
REGISTRATION DOCUMENT
2016
38