First quarter results

First quarter results

The SII Group reported revenue of €80.6m for the first three months of its 2015-2016 fiscal year, which ended June 30. This amounted to an increase of 6.3 percent in absolute terms over the same period a year ago. Once again, international operations contributed the lion's share of the increase, while organic growth resumed in France.

In France, SII benefited from efforts made at sectorial diversifying, as well as from its strong ties to major clients and a slight improvement in the technology consulting market, to offset the continued impact of the previous period's slowdown. For the quarter as a whole, the Group saw sales increase to €46.6m. Capital projects by telecommunication companies continued to be affected by uncertainties regarding the sector's restructuring. In aviation, SII took advantage of its technological assets, in spite of a decline in investments in major programs.

SII's international operations again expanded sharply during the quarter, with sales up 15.2 percent. Business continued to be driven by the Group's Eastern European subsidiaries, including in Poland, where revenue was up 23 percent to €16.1m, and Rumania, where a 48.2-percient increase in sales brought revenue to €1.5m for the period. In Germany, efforts continued to improve margins at entities acquired in April 2014. In Spanish-speaking countries, the turnaround that began in Chile in the last quarter of the previous fiscal year continued, as revenue increased by 27.9 percent. Business also improved during the quarter at SII Concatel in Spain, where sales were up 19.6 percent in spite of continued adverse financial conditions.

Outlook for fiscal 2015-2016

At the close of the first quarter of fiscal 2015-2016, the SII Group's performance was in line with its objectives for the year:

- Resumption of organic growth in France starting in the second half

- Double-digit organic growth of international operations

- Improved financial results and margins for the Group as a whole