SQLI

Earnings Release • Jul 27, 2021

Press release 27 JULY 2021

SQLI returns to growth in H1 2021.

The European digital services group SQLI announces today its consolidated revenue for the first half of 2021¹ . Thanks to a strong rebound in activity in France in Q2 and a continued international momentum, the group posted a revenue growth at the end of June above its plan.

€m – IFRS – unaudited data	2020	2021	Change
H1	110.2	114.3	+4%
- o/w Q1	58.9	56.3	-4%
- o/w Q2	51.3	58.0	+13%

The Group posted consolidated revenue of €58.0m in Q2 2021, up +13% from the previous year. This performance brought consolidated revenue from H1 2021 to €114.3m, compared to €110.2m in H1 2020, an increase of +4%. At constant consolidation scope and exchange rates, the change stood at +2%.

CONTINUED INTERNATIONAL ORGANIC GROWTH

SQLI's international business increased by +6% in Q2 2021 and by +7% in H1 2021 (+5% at constant scope and rates), totalling €53.6m and 47% of the Group's consolidated revenue (+2 points compared to H1 2020).

Q2 performance was purely organic as SQLI completed in March 2020 its latest external growth operation, the acquisition of Redbox Digital, an e-commerce agency located in the UK and the Middle East.

This growth is even more noticeable outside France, as the Group had recorded in H1 2020 a +6% organic growth, despite the start of the health crisis. All countries but Germany recorded growth in the first six months of 2021.

STRONG REBOUND IN ACTIVITY IN FRANCE

In France, the market where the health crisis has had the biggest negative impact on the Group, activity rebounded by +19% in Q2 2021.

While the level of activity is broadly in line with the Group's expectations in Paris, the rebound is significant in the regions, where SQLI has been able to redeploy its consultants on new projects.

CONFIRMATION OF PROFITABLE GROWTH TARGETS

This revenue momentum was made possible by a stabilisation of staff (around 2,000 employees at the end of June 2021) and an improvement in the employment rate to 84%in the first half of 2021.

¹ Estimated unaudited data

As a result of this strong start to the year, SQLI now aims to generate consolidated revenue growth for the full year (and not just in the 2nd half of 2021 alone) and confirms its target of a 2-point increase in the annual consolidated operating margin.

SQLI will publish its 2021 half-year results on 23 September 2021 after the close of trading.

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About SQLI: Founded in 1990, SQLI is a European digital services group that supports major international brands in creating value through Digital. Its creative and technical teams are committed to providing customers, consumers and users with new and engaging experiences based on the best technologies and methodologies, as well as their skills and convictions. They design, develop and deploy strong and effective architectures that improve companies' agility, increase efficiency and promote growth.

SQLI's 2,000 employees are spread over 13 countries: France, Switzerland, Luxembourg, Belgium, United Kingdom, Germany, Sweden, Netherlands, Denmark, Spain, Morocco, Mauritius and Dubai. In 2020, SQLI Group generated revenue of €214m.

SQLI has been listed on Euronext Paris (SQI) since 21 July 2000.

https://www.sqli.com Follow SQLI on Linkedin Follow SQLI on Facebook and Twitter

INVESTOR RELATIONS
OLIVIER STEPHAN – +33 (0)1 85 64 20 20 – OSTEPHAN@SQLI.COM
JEROME FABREGUETTES-LEIB – +33 (0)1 53 67 36 78 – JFL@ACTUS.FR
FINANCIAL PRESS RELATIONS
NICOLAS BOUCHEZ – +33 (0)1 53 67 36 74 – NBOUCHEZ@ACTUS.FR

€m – IFRS – unaudited data	2020	2021	Change
Q1	58.9	56.3	-4%
- o/w International	23.7	26.7	+12%
- o/w France	35.2	29.6	-16%
Q2	51.3	58.0	+13%
- o/w International	25.4	26.9	+6%
- o/w France	25.9	31.1	+19%
H1	110.2	114.3	+4%
- o/w International	49.1	53.6	+9%
- o/w France	61.1	60.7	-1%