CIS: Revenue Up 23.5% in Third Quarter, Strongest Growth of the Year
CIS published on October 14, 2026 revenue of €150.2 million for the third quarter, up 23.5%. This represents the highest quarterly progression of the fiscal year, following +11.5% in the first quarter and +21.2% in the second.
This level exceeded the group's expectations. At constant exchange rates, growth reached 22.0% in the third quarter, while the foreign exchange effect over nine months remained limited to €0.3 million.
For the entire period, cumulative revenue stands at €425.4 million as of September 30, 2026, compared to €358.1 million a year earlier.
€425.4 Million Over Nine Months, Up 18.8%
Cumulative revenue as of September 30, 2026 increased 18.8% on a reported basis and 18.7% at constant exchange rates. The difference between the two measures corresponds to a positive foreign exchange effect of €0.3 million, which the group qualifies as very insignificant to business growth.
A quarter-by-quarter analysis reveals continuous acceleration of the growth rate. At constant exchange rates, the increase rose from 15.5% in the first quarter to 18.4% in the second, then to 22.0% in the third. On a reported basis, the variations were respectively +11.5%, +21.2% and +23.5%.
Quarterly revenue also increased from one period to the next: €132.2 million, then €143.0 million, then €150.2 million. These figures have not been audited by the auditors.
Eurasia Now Represents 45.1% of Activity
CIS attributes this performance to the strength of its contract portfolio, the activity level of its major contracts and its ability to offer complementary solutions on complex and isolated sites. The group also mentions the signature of new contracts in certain zones.
Geographically, Eurasia recorded the strongest increase, with +24% at constant exchange rates. Its share of revenue increased from 41.9% on September 30, 2025 to 45.1% on September 30, 2026. Africa advanced 16% at constant exchange rates. As this increase is lower than the group's overall growth, its weight declined slightly: 25.1% for North Africa (versus 26.2%) and 27.4% for sub-Saharan Africa (versus 29.1%).
The Americas, which represent 2.4% of revenue, remain in decline. This decrease was nevertheless limited to 6%. The group explains this by new contracts and the start-up of new platforms in the private offshore sector in Brazil.
Good Visibility for the End of the Fiscal Year
For the end of the fiscal year, CIS reports good visibility, which it attributes to the contribution of new contracts and higher-than-expected activity levels on its major contracts. The group approaches the end of the year with confidence, relying on its integrated services model and execution capabilities. This message is consistent with the confident tone displayed at the publication of 2025 results on March 15, 2026.
The third quarter extends the trend from the first half. On September 23, 2026, the group published half-year revenue up 16.4%. The momentum thus accelerated in the third quarter.
In fiscal year 2025, CIS achieved revenue of €489.2 million. The only analyst covered in the consensus as of October 10, 2026 anticipates €560 million for fiscal year 2026. The group will publish its 2026 annual revenue on January 20, 2027, after the stock exchange closing.
The standout feature of this publication is the 22.0% increase at constant exchange rates in the third quarter, representing the highest quarterly progression of the first nine months.
