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Freelance.com
Earnings Release • Nov 18, 2024
1350_10-q_2024-11-18_c2d165a5-b9fa-43c6-a5df-cf96c3db1f89.pdf
Earnings Release
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Press Release – 18 November 2024
3 rd quarter 2024 revenue: €242.6m (+22%)
Year-to-date revenue on 30 September 2024: €759.7m (+23%)
Freelance.com (Euronext Growth Paris - FR0004187367 - ALFRE), a leader in the relationship between companies and their external talents, publishes consolidated results for the third quarter of 2024 (period from 1 January to 30 September 2024).
| Revenues | 2024 | 2023 | Change |
|---|---|---|---|
| (unaudited consolidated data, in M€) | consolidated | consolidated | |
| st quarter turnover 1 |
258.2 | 208.5 | +24% |
| nd quarter turnover 2 |
258.8 | 210.9 | +23% |
| rd quarter turnover 3 |
242.6 | 198.6 | +22% |
| 9-month revenue | 759.7 | 618.0 | +23% |
In the 3 rd quarter, the group's revenue amounted to €242.6 million, a 22% year-on-year growth (+2% organically).
- In France, Freelance.com delivered consolidated revenue of €175.4m in the 3 rd quarter, up 32% compared with the 3 rd quarter of 2023 (+3% organic growth).
- Internationally, Freelance.com generated revenue of €67.3m in the 3 rd quarter, up 2% compared with the 3 rd quarter of 2023 (1% organically).
Consolidated revenue for the 9 months that ended 30 September 2024 amounted to €759.7m, up 23% from 2023.
- French activities grew 35%, reaching €556.1m
- International activities increased by 1%, reaching €203.6m
Positive organic growth in France and internationally
Organic growth in France over the 3 rd quarter (+3%) is in line with the Group's performance over the 1 st semester, tempered by the difficult economic context. The Group continues to implement cost and revenue synergies from the recently acquired OpenWork, STA and Prium.
Freelance.com's international activities showcase their first positive organic growth since the 1 st quarter of 2023. This performance is attributable to the gradual stabilization of Helvetic Payroll.
We remain cautious regarding both its French and international outlooks given the uncertain macroeconomic context.
remained tempered by the difficult economic context, in line with the second half of 2023. The acquisitions of OpenWork and STA have multiplied the sales of the Group's French portage salarial division by 2.6x in the first quarter. We expect to achieve the bulk of anticipated cost synergies over the next 18 months.
As foreseen, organic growth in the international scope (-7%) was impacted by a strong like-for-like first half 2023.
2024 outlook
Organic growth over the 9 months that ended 30 September 2024 is in line with the Group's full-year target. We remain cautious regarding both French and international outlooks given the uncertain macroeconomic context.
The acquisitions of OpenWork on 1 September 2023, STA on 11 January 2024 and Prium on 1 October 2024 propel Freelance.com's combined sales above the billion-euro milestone and strengthens our position in the external talent management market.
We are continuing our review of external growth opportunities in France and Europe.
Upcoming events
- Full-year 2024 revenues: 24 February 2025.
- Full-year 2024 results: 21 April 2025.
About Freelance.com
Positioned at the heart of the transformation of the labor market, Freelance.com is a European leader in Talent as a Service (TAAS) solutions, connecting large companies with their external talents. The group offers a full range of services: expertise sourcing, project management, commercial support, wage portage, and compliance management. Freelance.com relies on a community of over 150,000 (106,000 in France) qualified consultants and experts, working as freelancers or within highly specialized SMEs, having delivered a total of more than 15,000 services in 2023. With 321 employees and a proforma turnover of 902.6 million euros in 2023, a presence in France and internationally (Switzerland, Belgium, Morocco, England, Germany), Freelance.com is a reference player in the "Future of Work," recognized as one of the "Growth Champions 2023" by Les Echos.
Label: FREELANCE.COM ISIN Code: FR0004187367 Mnemonic Code: ALFRE Number of shares composing the share capital: 56 535 254 Additional information on: https://www.freelance.com
PRESS CONTACT - WORDCOM Consulting
Tel. 01 45 44 82 65 Eglantine de Cossé Brissac [email protected] Apolline Privat [email protected]
| Groupe Freelance.com | Groupe Freelance.com |
|---|---|
| Tristan DE VILLEMEUR | Florent BRIANT |
| Head Investor Relations | Chief Financial Officer |
| Tel. +33 6 70 35 46 49 | Tel. +33 6 95 84 14 18 |
| [email protected] | [email protected] |