AI Terminal
Groupe CRIT
Earnings Release • Apr 20, 2022
1379_10-q_2022-04-20_0669bf93-0456-48ab-b0a0-3fe12353af04.pdf
Earnings Release
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Press Release April 20th, 2022
Q1 2022 revenue: +19.7%
Continuous improvement in Temporary Work Strong growth in Airport Service
| In M€ (1) | 2021 | 2020 | Change | Constant perimeter & forex |
|---|---|---|---|---|
| 1st Quarter | 523.5 | 437.4 | 19.7% | 18.4% |
| Total | 523.5 | 437.4 | 19.7% | 18.4% |
| & forex |
|---|
Revenue for the first quarter of 2022 amounted to € 523.5 million (1), up by 19.7%. At constant scope and exchange rates, growth was up by 18.4%. In France, the continuous improvement in activity is confirmed with quarterly turnover of € 393.4 million, up by 19.3%. International activities (nearly 25% of total activity) also contributed to this growth with an increase of 15.9% at constant scope and exchange rates.
Temporary Work: +11,7%
In Temporary Work (83.9% of total activity), turnover for the quarter amounted to € 439.0 million (2) up by 11.7% compared to the same period in 2021 at constant scope and exchange rates. This increase confirms the improvement in activity over the quarters in a market that remains marked by a shortage of talent.
France: +11.5%
In France (74.0% of the division's activity), revenue for the quarter reached € 325.0 million, up by 11.5% compared to the same period in 2021, driven by the logistics, trade, and agri-food sectors. This performance was achieved despite a decline in the growth momentum at the end of February as a direct consequence of the evolution of the geopolitical context.
International: +12.6%
Internationally (26.0% of the division's activity), turnover for the quarter amounted to € 114.1 million, up by 12.6% at constant scope and exchange rates. The United States posted growth of 16.0% at constant scope and exchange rates and the Iberian activities continued to record excellent performances, up 6.7%.
Multi-Service: +72,3%
The Multiservices Division posted quarterly revenue of € 90.2 million (2), up 72.3% at constant scope and exchange rates compared to the first quarter of 2021. This growth is mainly the result of a gradual return of airport assistance towards a normal level of activity.
Airport activities (73.5% of the division's total revenue) confirmed their improvement, driven by the recovery in traffic, particularly transatlantic. Thus, the turnover for the quarter amounts to € 66.3 million against € 33.9 million in 2021, up by 94.0% at constant scope and exchange rates.
In this context, the group reaffirms its confidence in the business outlook for the coming months with a temporary work division that remains dynamic and airport activities that should almost reach their pre-Covid levels by the summer.
| in M€ (1) | Revenue | Organic change |
Currency Impact (3) |
Perimeter Impact (4) |
||
|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||
| Staffing & recruitment | 439.0 | 388.5 | 13.0% | 11.7% | 1.3% | 0.0% |
| Multi-services | 90.2 | 52.0 | 73.3% | 72.3% | 1.0% | 0.0% |
| Inter-segment | (5.7) | (3.1) | 82.9% | 82.9% | 0.0% | 0.0% |
| TOTAL GROUP | 523.5 | 437.4 | 19.7% | 18.4% | 1.3% | 0.0% |
Detailed analysis of foreign exchange and perimeter impacts
(1) Unaudited data
(2) Excluding inter-segment eliminations
(3) The exchange rate impact is computed by applying the previous year's exchange rates to current-year revenue denominated in foreign currencies.
(4) Changes in consolidation perimeter computed by restating revenue for:
- the contribution of entities acquired during the current year and the contribution of entities acquired the previous year until the anniversary date of their acquisition,
- for entities sold during the current year, the contribution to revenue during the months of the previous year for which the entities are no longer consolidated in the current year and, for entities sold the previous year, the contribution to revenue of the previous year until the date of their sale.
Next release Q2 2022 revenue: July 20th 2022 after market closing
Groupe CRIT is a French leading company in staffing and airport assistance, in France and Internationaly. The Group is listed on Euronext Paris (Compartment B FR0000036675) and is included in the CAC All-tradable, CAC Allshares, CAC Mid&Small, Euronext Family Business.
CONTACTS
Groupe Crit Tel : 01.49.18.55.03 [email protected] www.groupe-crit.com
Actifin Investor Relations - Stéphane Ruiz : [email protected] Press Relations - Isabelle Dray : [email protected] Tel : 01.56.88.11.11 www.actifin.fr