In challenging market conditions, SYNERGIE continues to grow while preserving its financial robustness
25 Settembre 2024 - 7:34PM
UK Regulatory
In challenging market conditions, SYNERGIE continues to grow while
preserving its financial robustness
PRESS RELEASE | September 25th 2024, 5.45pm
IN CHALLENGING MARKET CONDITIONS, SYNERGIE CONTINUES TO GROW
WHILE PRESERVING ITS FINANCIAL ROBUSTNESS
Revenue: €1,555.4 million
EBITDA: €63.3 million
Net profit: €31.7 million
On September 25th, 2024, the SYNERGIE Board of Directors,
chaired by Mr Victorien Vaney,
approved the consolidated half-year financial statements for the
period ended 30 June 2024. The auditing procedures for these
financial statements are complete and the corresponding reports are
being issued.
Consolidated - in €
million |
H1 2024 |
H1 2023 |
Change % |
Revenue |
1,555.4 |
1,511.0 |
+2.9% |
EBITDA |
63.3 |
75.8 |
-16.5% |
EBITA* |
50.4 |
63.7 |
-20.8% |
Operating profit |
46.2 |
61.4 |
-24.6% |
Net profit |
31.7 |
41.2 |
-23.1% |
Net profit Group share |
29.4 |
38.9 |
-24.5% |
* Recurring EBIT before amortisation and impairment of
intangible assets
REVENUE OF €1,555.4 MILLION
SYNERGIE, a European leader in the Human Resources sector,
generated revenues of €1,555.4 million, up +2.9% (+1.6% on a
like-for-like basis), amid a market downturn in the Group's main
countries. This performance was possible thanks to the contribution
of all geographic areas where the Group operates. Synergie
outperformed a declining market validating the Group's business
strategy of a diversified portfolio of clients, sectors, and
geographies.
In France, the first half of the year was marked by a decline in
growth (-2.6%), driven by a decrease in staffing market volumes
with a significant downturn in the last two months due to the
climate of political and economic uncertainty.
International reached 59% of total revenues (versus 57% in 2023),
with Southern Europe achieving revenues of €531.8 million.
International growth of +7.1% was driven by organic growth
(excluding exchange rates impact) of +4.8% and the impact of the
acquisition of the RUNTIME Group in Germany (completed in May
2023), which generated €16 million during the period. The
performance of Northern and Eastern Europe (+9.8%) remained strong
despite the economic slowdown also felt in these countries.
EBITDA AND CURRENT OPERATING PROFIT (EBITA)
In the first half of 2024, SYNERGIE achieved an EBITDA of €63.3
million (4.1% of revenue), versus €75.8 million in H1 2023. This
decline in EBITDA is attributed to the economic slowdown, the
effects of regulatory changes in some countries and the Group's
continued investment efforts to support its growth and
digitalization.
The Current Operating Profit (EBITA) reached €50.4 million (3.2%
of revenue) with a €22.1 million (43.9% of Current Operating
Profit) contribution from International business, while France
contributed €28.3 million (56.1% of Current Operating Profit).
OPERATING PROFIT
Operating profit came to €46.2 million, in line with the trend
of Current Operating Profit.
NET PROFIT
After Tax expenses of €18.7 million and a Financial Result of
€4.1 million, the consolidated Net Profit amounted to €31.7 million
(of which the Group’s share is €29.4 million).
A STRENGTHENED FINANCIAL STRUCTURE
With shareholders’ equity of €690.3 million as of June 30 and
cash position net of debt of €313.0 million, the Group reinforces
its financial strength.
OUTLOOK FOR H2
Despite the economic challenges faced in certain markets during
the first half of 2024, with the contraction of the staffing market
in France and other European countries, SYNERGIE remains confident,
thanks to its continued diversification and international expansion
strategy, in its ability to achieve higher revenues in the second
half of the year, but in this context remains very cautious about
its capacity to improve operational profitability.
SYNERGIE financial structure remains strong, and the company
intends to pursue new acquisitions, both in France and abroad.
NEXT EVENT
Communication of Revenues for the 3rd quarter of 2024
on Wednesday October 23rd, 2024,
after the stock market closing.
- COMFI-Communique-2024-25-sept-VDEF-EN
Grafico Azioni Synergie (EU:SDG)
Storico
Da Nov 2024 a Dic 2024
Grafico Azioni Synergie (EU:SDG)
Storico
Da Dic 2023 a Dic 2024