CIS Achieves Robust 36% Revenue Growth in 2024

CIS recorded a significant improvement in its annual revenue for 2024, reaching €443.5 million on a constant currency basis, a 36% increase. On a reported basis, the revenue stood at €422.8 million, marking a 29.6% growth. Encouragingly, the Group surpassed the €400 million revenue threshold for the first time, partly due to favorable market conditions, which contrasted with the previous year’s negative currency impacts. The currency effect, although still negative at €20.7 million, showed improvement from 2023.

Growth drivers were evident across all operating regions, with Sub-Saharan Africa contributing 28.2%, North Africa 27.4%, the Americas 7.4%, and Eurasia 37.0%. The expansion aligns with CIS's strategic focus on diversifying geographical reach and broadening its service offerings.

Recent contract wins in Kazakhstan, Ivory Coast, and Algeria, alongside two substantial contract renewals in Sub-Saharan Africa totaling $91 million, are set to further propel growth in 2025. The company continues to seek acquisition opportunities to augment its portfolio.