Paris, France – Laurent Germain, chief executive officer, and Olivier Gouirand, chief financial and strategy officer, today presented Egis’ annual results for 2022. The year was marked by strong growth, featured several acquisitions, and consolidated a very robust financial situation. The Group has ambitious goals for 2023, with a company at the centre of the burning issues of the day (environment, energy, Paris 2024, global affairs) and which will be able to rely on a redesigned organisational structure.
Key figures for 2022
- Engineering order intake: 1.5 billion euros, +35% compared with 2021
- Engineering order book: 1.8 billion euros, equating to 18 months of turnover
- Turnover: 1.48 billion euros, +27% compared with 2021, including +16% organic growth
- EBITDA: 176 million euros, +32 million euros on 2021, with an operating margin of 11.9%
- Net profit, Group share: 48 million euros, +21% compared with 2021
- +20% employees worldwide
- 8 new acquisitions concluded in 2022
- Higher proportion of business abroad: 65% as against 62% in 2021
2022: a year of strong, profitable and balanced growth
The order intake for Engineering recorded an exceptional increase of 35% compared with 2021, reaching a record €1.5 billion euros. The vast majority of our business lines and regions benefitted from this growth, with notable achievements such as exceptional orders for Société du Grand Paris in France, or the awards of the Al’Ula and Neom contracts in Saudi Arabia. The order book thus amounts to €1.8 billion euros as of 31 December 2022, which represents 18 months of engineering activity: the group consequently benefits from strong visibility over its activity for the months ahead.
Laurent Germain, chief executive officer of Egis, said: “I would like to thank all the men and women of Egis for their commitment during this year. These excellent results validate the relevance of Egis' strategic orientations, through our ‘Impact the future’ plan. Our 2022 order intake illustrates our ability to win very large projects in a wide range of areas, as well as the unstinting technical dedication of our teams, which further reinforces our clients’ trust in us. We will pursue this growth strategy in 2023 to deliver on our ambitions and continue the exceptional trajectory we have achieved over the last two years, with the aim of becoming one of the world's top 10 engineering companies.”
These orders helped generate 1.48 billion euros of turnover in 2022, a 27% increase on 2021. Group profits also rose, with EBITDA up by 32 million euros on the previous year, reaching 176 million euros. The operating margin stands at 11.9% compared with 12.4% in 2021, a slight decline resulting from the substantial investments made by the Group during 2022, in particular in cybersecurity, rail operation and maintenance, or the development of our activities in new markets such as the United Kingdom.
The Group’s financial situation is sound, with free cash flow standing at €62 million and low debt with a leverage ratio of 0.6x, which allow the Group to pursue its active acquisition policy without undue concern.
Indeed, as part of the deployment of the strategic plan “Impact the Future”, Egis made eight new acquisitions in 2022: 1,900 employees based in the UK, the Middle East, the USA, France, Colombia and the Netherlands joined the Group through these transactions. This trend has continued in 2023, with the acquisition of three companies since the start of the year, while a further two acquisition agreements have been signed and are due to be closed within weeks. This external growth strategy contributes to Egis’ development and growth objectives while also bringing in new skills and expertise.
Olivier Gouirand, chief financial and strategy officer at Egis, says: “The Egis group can rely on some excellent fundamentals. Growth is driven in equal measure by Engineering and Operation & Maintenance, where both areas grew by 27%. Our growth is mainly organic, with growth excluding acquisitions standing at +16% between 2021 and 2022.
On the strength of its order book, Egis anticipates a new year of profitable growth in 2023, forecasting 1.8 billion euros in turnover, and with prospects for growth in strategic disciplines such as nuclear, renewable energy and in fast-developing geographical zones such as North America and the Middle East.
Egis at the heart of topical issues in 2023
Egis will be in the spotlight in 2023 as a company which, in domains that are crucial to our time (energy, the environment, geopolitics) or for major events (Paris 2024) offers solutions to support the ecological transition and a desirable future.
Ecological and environmental transition
Egis is today one of the world leaders in green engineering: the proportion of Group turnover in consulting and engineering activities that contributes to the ecological and energy transition is estimated at 45% in 2022.
Furthermore, Egis took the decision to have its actions and goals evaluated in 2022 through an S&P Global Corporate Sustainability Assessment. This appraisal provided confirmation of our leadership, with Egis ranked, at the end of 2022, 19th out of 262 companies listed in the Construction & Engineering category (Ranking published 20/12/2022).
Egis is a company committed to the production of low-carbon energy and the development of the energy sources of the future. In areas ranging from designing the city of tomorrow, to setting up low-emission mobility zones to improve urban air quality, or developing carbon sequestration tools, Egis will continue to innovate in 2023 to meet this worldwide aspiration. With a reaffirmed ambition: to be able to inform public and private decision-makers on the best decisions to be taken and assist them in implementing sustainable trajectories for communities; and a strong commitment for 2030: to conduct 100% of our design projects using an eco-design approach.
After taking every step to put its Ukrainian employees out of harm’s way, the Group pledged that it would stand by Ukraine to rebuild the country. This is now the case, as last December the Ukrainian government chose a consortium led by Egis to rebuild the urban areas damaged by the invasion in the Chernihiv region. The Group hopes to extend this pilot project to other regions of the country.
Egis is involved in the life of the country by participating in the major sporting events that will take place in France over the next few years. Egis is an official supporter of the 2024 Olympic and Paralympic Games. This commitment translates into the provision of Egis' expertise, together with the sponsorship of a team of elite Olympic and Paralympic athletes.
Egis is a global leader in the consulting, construction engineering and mobility service sectors. We design and operate intelligent infrastructure and buildings capable of responding to the climate emergency and helping to achieve more balanced, sustainable and resilient territorial development.
With operations in 120 countries, Egis places the expertise of its 16,000 employees at the disposal of its clients and develops cutting-edge innovation accessible to all projects. Through its wide-ranging fields of activity, Egis is a central player in the collective organization of society and the living environment of citizens across the world.
Egis has been present in Ukraine since 1993, working with both private clients and on projects financed by international financial institutions as well as the Ukrainian government. The company's main activities include civil engineering, road, and bridge construction; water supply and drainage; urban transport; ports; rail; energy efficiency, and environmental management. The main office in Kyiv is also a regional hub for the company's activities in the Caucasus and Central Asia.