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Synergie SE — Earnings Release 2008
Nov 17, 2008
1690_iss_2008-11-17_75586c5b-630b-4c3a-8421-5895f546cf22.pdf
Earnings Release
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A LEADER IN GLOBAL HUMAN RESOURCES MANAGEMENT
CONTINUED GROWTH FOR 2008 NINE-MONTH SALES: +5.5%
In the first nine months, Synergie Group had consolidated sales of €929 million, up 5.5% over the same period last year.
International operations that account for more than 32% of total revenue with sales of €102 million in the third quarter were further reinforced by the addition of Concept Staffing (United Kingdom), and the acquisition in March 2008 of Interactif (Switzerland). This expansion is consistent with forecasts by general management and will contribute to its goal to increase the share of international operations in the revenue mix to 50% within three years.
Outplacement and Human Resources Management Consulting activities achieved 50% growth overall in the third quarter, maintaining the momentum registered at 30 June.
These performances achieved while maintaining margins at existing levels contributed to further gains in current operating income in a contracting economic environment for the first nine months.
A positive cash balance that continued to show a surplus made it possible to finance the acquisition of ADR in the Netherlands (11 offices; revenue: €35 million) whose geographical positioning and business mix reinforce Synergie's strong coverage in Benelux.
With a significant presence in 12 European countries and Canada, the Group confirms its commitment to pursuing expansion through external growth, particularly in Germany and Spain, by closely monitoring the economic environment to identify potential targets.
About Synergie
Synergie, listed on Eurolist Compartment B of NYSE Euronext Paris (ISIN FR0000032658), is a leading independent provider of global human resources management services with a network of 550 agencies in Europe and Canada. Synergie is included in the CAC Small 90, CAC Mid and Small 190 and SBF 250 indices.
ISIN FR0000032658 Reuters SDGI.PA Bloomberg SDG FP
For further information: www.synergie.fr