Groupe SNEF is one of the sector’s leaders, with a turnover close to one billion Euros and a workforce of 10 000 employees in 14 countries.
At the end of fiscal year 2011, Groupe SNEF‘s revenues were up 10.6% to 947 million euros, including organic growth of 8.5% and a net income of 11.6 million Euros. In 2011, growth in revenues offset the decline in activity observed in 2009 and 2010, the growth applying to all professions and geographic areas where we operate.
Margin increased 50%, still not reaching a satisfactory level, the business cycle in our own market dampening the effects of the crisis as well as recovery with a time lag of 12 to 18 months.
For the past 3 years, we have demonstrated that our business model is sound; the Group resisted without ever incurring a loss, and rebounded quickly.
The strength of our company is to never lose sight of business, to focus on the medium term rather than the short term, and to never take the easy way out. Our reasserted independence is a proof of success.
Throughout the crisis, we continued our investment effort, convinced not to remain set in our ways. In particular, we continued our development in Africa and Latin America; we also strengthened our activities in the Nuclear and Telecommunications sectors. Our dynamism relies on young teams, responsible and ready to push the boundaries. We never stopped recruiting, training our staff and modernizing our working methods.
If it were not for the uncertainties of an unstable economic environment, we would expect 2012 to be an excellent year. Our backlog is greater than € 800 million, and represents more than 10 months of business activity: we have all the ingredients for success. However, we must remain vigilant.
In 2012, our revenues should be close to one billion euros while the margin is expected to recover.
On December 31, 2011, the Group's net debt totaled € 57 million (including the profit-sharing reserve), an increase of € 10 million.
Cash flow amounted to € 28 million.
The Group's investments amounted to € 21 million, or 2.2% of production; they primarily consisted in the acquisition of rolling stocks and other plant assets, but also in significant investments to maintain our building stock and develop IT systems.