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Half-year results at June 30, 2020 Paris stock exchange: SDG

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Paris, September 16, 2020, 5:45 p.m.

HALF YEAR RESULTS:

TURNOVER 1 BILLION

CONSOLIDATED NET INCOME 10 MILLION

The SYNERGIE Management Board, chaired by Daniel AUGEREAU, met on September 14, 2020 and approved the half-year accounts for the year ended June 30, 2020. The limited audit procedures for these accounts have been completed and the related report. is in the process of being published.

Consolidated – in millions20202019
Rotation1000.61295.6
EBITDA39.964.8
Current operating income (1)30.054.5
Profit before tax22.650.6
Tax expense (2)(12.6)(23.4)
Net profit10.027.2

(1) before amortization and depreciation of intangible assets

(2) including the French contribution to the added value of companies (CVAE) of 6.1 million in 2020 and 8.5 million in 2019

Activity

After a first quarter during which activity performed particularly well, the Covid-19 pandemic strongly affected the job market in France and abroad.

In this exceptionally difficult context, SYNERGIE mobilized its teams and managed to achieve a consolidated turnover of 1,000.6 million, or 22.8% less than in 2019 (23.3% at constant scope).

By acting quickly, the Group has succeeded in diversifying its clientele and expanding its services in the environmental, renewable energies, digital, agrifood, logistics and medical sectors to offset the slowdown in aeronautics and, to a lesser extent, automotive manufacturing. sectors. This resilience made it possible to limit the slowdown in activity to 37.1% in the second quarter.

In France, turnover reached 454 million, a decrease of -28% against -31% for the market, according to PRISMEMPLOI, with the interim resuming after the sharp drop in the second half of March.

International activity resisted better, reaching 546.6 million (54.6% of the consolidated total) against 664.8 million in 2019, a decrease of only 17.8%.

Results

SYNERGIE has shown very good resilience during this unprecedented crisis by quickly adapting its organization to preserve its teams and ensure continuity of service to customers in their current activity.

Country action plans have been put in place, including the implementation of government measures aimed at preserving jobs and supporting businesses. In addition, costs have been reduced in all subsidiaries.

Thanks to these measures, the vast majority of the group’s geographic entities generated positive current operating income.

In France, the operating margin reached 13.8 million against 34.1 million in 2019, showing good resistance despite the sharp drop in activity.

Current operating income from international activity reached 16.2 million against 20.5 million in 2019, supported by good resilience in Italy and Belgium.

The digital services activity maintains a margin on turnover of 10%, testifying to the success of the Group’s diversification in these activities, a segment in which it has been operating since 2018 (acquisition of DCS EASYWARE in France then of TIGLOO in Spain, generating a total turnover of 32.2 million over the first six months).

After taking into account the amortization and depreciation of intangible assets for 5.4 million and financial charges for 1.9 million (including 0.9 million linked to fluctuations in exchange rates), the result before tax came to 22.6 million .

The tax charge of 12.6 million takes into account the French contribution to the added value of companies (CVAE) in the amount of 6.1 million.

Net income stood at 10 million, demonstrating SYNERGIE’s ability to continue to make profit in an economic environment shaken by an unprecedented crisis.

Financial situation

The financial structure was strengthened with shareholders’ equity of 552.9 million euros and a strong increase in cash flow due to a reduction in working capital requirement of 100 million over the period, limited investments and the decision not to not pay dividends.

Perspective

In an environment where human resources are at the heart of the concerns of business structures, with increased demand for services and flexibility, SYNERGIE intends to remain the privileged partner of these businesses.

Thanks to a very solid financial structure, SYNERGIE has other assets which reinforce its confidence in its ability to withstand this health crisis and to achieve a turnover of more than 2 billion in 2020.

Next event:
Publication of third quarter 2020 sales on Wednesday October 28, 2020 after market close.

  • 747 – Half-year results 2020

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