ASSYSTEM : Revenue up a strong 14.1% in first-half 2012

• Robust growth in business in France and other countries 

• Full-year target of more than 5% organic growth confirmed 

Regulatory filing - (Paris - 30 July 2012, 5:35 pm) - Assystem S.A. (ISIN: FR0000074148 - ASY), a leading Innovation and Engineering Consultancy, today announced its consolidated revenue for the first half of 2012, which ended 30 June.

First-half 2012 consolidated revenue
and % change versus first-half 2011 (unaudited)

NB: First-half 2012 figures reflect the changes in scope of consolidation resulting from the disposal of ASG and the acquisition of MPH's operations in France (consolidated over six months) and its international operations managed from Dubai (consolidated over five months).
Detailed quarterly data may be found in the appendix.

Consolidated revenue rose by 14.1% to €427.1 million in the first six months of 2012, with gains in the British pound against the euro contributing €2.5 million to the reported total. At constant scope of consolidation, revenue was up 5.7% for the period.

In the current economic environment, the robust growth in business in France and other countries have confirmed the validity of Assystem's positioning as a strategic partner to global market leaders in the major infrastructure engineering and industrial engineering sectors, with a focus on the energy, aerospace and automotive industries.

REVENUE BY REGION
In France, revenue rose by 6.2% as reported and by 5.2% on an organic basis. The Group is continuing to gain market share in its three strategic industries (energy, aerospace, automotive) by capitalizing on its ability to manage complex projects.

Outside France, where operations account for 38% of consolidated revenue, the acquisition of MPH helped to drive a 29.8% increase as reported and have given the Group a foothold in the promising energy markets of the Middle East and Africa. On an organic basis, growth came to 6.5%, thanks to the sustained expansion in Germany and the United Kingdom. Operations in Romania, Belgium and Canada continued to deliver very strong gains.

REVENUE BY ACTIVITY

COMPLEX INFRASTRUCTURE ENGINEERING

The energy sector, with its twin advantages of visibility and recurring business, today represents three-quarters of the unit's revenue. The nuclear business has grown by 33% since 2009 and keeps growing by 2.6% over the first-half of the year, driven by work on the installed base and the start-up of new projects.
Outside France, Assystem teams focused their capabilities on responding to a wide range of tenders, which offer the promise of significant developments in the nuclear, oil and gas markets.

OUTSOURCED R&D
In line with the first months of the year, the Outsourced R&D business continued to enjoy sustained demand over the second quarter.

Revenue from Aerospace Engineering (28% of the consolidated total) rose by 11.3% on an organic basis and at current exchange rates. The European aerospace industry is still on a steep upward trend and the Group is continuing to gain market share from its major competitors. Several preferred supplier contracts were renewed during the period, including with EADS, where Assystem ranks among the top five engineering service providers re-selected as E2S preferred suppliers, and Rolls Royce, which has awarded a three-year contract for managed engineering services for aero-engine related projects. In this extremely positive environment, the Group is currently seeking to hire around 500 engineers to drive even faster growth.

The Technology & Product Engineering business (31% of the consolidated total) delivered 6.3% organic growth. Revenue from the automotive industry, which accounts for 48% of the unit's business, rose by 5.6% over the period. Outside France, the Group is benefiting from strong demand from German carmakers, while in Romania, it is continuing to expand its business with Renault-Dacia.
In France, revenue from Renault rose over the period. At PSA, after declining early in the year, business should hold steady at current levels until the end of the year, and represent less than 3% of 2012 consolidated revenue.

WORKFORCE AND INVOICING RATE
Assystem had 10,389 employees at 30 June 2012, up by 688 people since the beginning of the year due to the net 174 new hires over the period. Outsourcing and the use of contractors represented an additional workforce of around 1,700 people.
The operational invoicing rate remains very high, at 91.1% for the first half.

OUTLOOK
During the period, Assystem strengthened its positioning as a multi-industry engineering services provider, in particular in the promising energy and aerospace markets.
The Group confirms its target of more than 5% organic growth in 2012.
In addition, Assystem is continuing to review possible acquisition opportunities. In today's economy, it is taking a particularly selective approach to this process, even as it retains its overall growth objectives, notably in the global marketplace.

Next financial press release
First-half 2012 earnings: 11 September 2012 after close of trading/SFAF meeting on 12 September at 8:30 am.

Assystem is an international Engineering and Innovation Consultancy. As a key participant in the industry for more than 40 years, Assystem supports its customers in developing their products and managing their capital expenditure throughout the product life cycle. Assystem employs more than 10,200 people worldwide and reported nearly €850 million in pro forma revenue in 2011. The Company is listed on NYSE Euronext Paris - Compartment B - Code ISIN: FR0000074148 - ASY. For more information: www.assystem.com

CONTACTS

APPENDICES

NB: First-quarter 2012 figures reflect the changes in scope of consolidation resulting from the disposal of ASG and the acquisition of MPH's operations in France (consolidated over three months) and its international operations managed from Dubai (consolidated over two months).

NB: Second-quarter 2012 figures reflect the changes in scope of consolidation resulting from the disposal of ASG and the acquisition of MPH's operations in France and its international operations managed from Dubai, both consolidated over three months.

[1] Previously known as Plant Engineering & Operations