SGS posts H1 2021 results

July 19, 2021

IIOA member SGS reports revenue of 3.1bn CHF for the first half of 2021. This represents growth of 16.8% (17.9% constant currency), with 12.4% organic growth.

In commenting on the results with reference to the pandemic SGS states, ‘The overall recovery of the TIC industry continues to be affected by Covid-19 related challenges. This is impacting part of our network and the daily life of our colleagues whose safety remains our paramount priority.’

Within the results, the Knowledge division recorded 25.7% (26.2% constant currency) organic revenue growth to 313m CHF. Of this contribution, SGS notes, ‘Management System Certification was the main growth driver with volumes exceeding our 2019 pre-pandemic levels across all regions. A recovery of Consulting and Training is underway.

Management System Certification grew above the divisional average driven by the combination of postponed 2020 work, higher volume of recertification audits, as well as a strong performance in Food and Information Security Certification. This resulted in a double-digit increase compared to 2019.’

The SGS 2021 Half Year report can be viewed here.