Synergie SE — Earnings Release 2012

Apr 10, 2013

Human Resources

Paris, 10 April 2013, 5:45 PM

PRESS RELEASE

Higher turnover in 2012: €1,448.8 million Net earnings: €15.1 million

"In 2012, we continued to secure market shares in high-growth sectors such as aeronautics, new energies and tertiary activities, within the most dynamic European and Canadian regions. Our record turnover of €1,448.8 million – generated within a relatively tense economic context – is a testament to the ability of our teams to outperform our markets, as we have done each year, and proof of our financial solidity that is allowing us to proceed with new international acquisitions."

Daniel Augereau, Chairman and managing director of the SYNERGIE Group

Audited consolidated - in €M-	2012	2011
Turnover	1,448.8	1,446.6
Current operating income (1)	40.4	48.2
Operating income	35.7	44.0
Pre-tax results	34.6	43.2
Income tax (2)	(19.5)	(23.9)
Net earnings	15.1	19.3
Group share of net earnings	14.8	18.9

(1) Before depreciation and amortisation of intangibles

(2) Of which CVAE €11.5 million

A turnover of €1,448.8 million, a historically high level

In 2012, the Group generated a turnover of €1,448.8 million, an increase of 0.2% relative to 2011 (-1.3% with a constant perimeter), with a clear outperformance in Europe and Canada. All of the countries contributed to this performance, which is a testament to the relevance of our international networking strategy and of the actions undertaken notably in the fields of aeronautics and the tertiary sector. The non-France turnover now represents 43% of the consolidated business, an increase of 6.2% (2.5% with a constant perimeter).

european actor

1st French HR services group

15 countries on 31 December 2012

600 agencies

2,300 permanent employees

90,000

customer companies

Issued capital: €121,810,000 NYSE Euronext B ISIN FR0000032658 Trading symbol: SDG Reuters: SDGI.PA Bloomberg: SDG:FP www.synergie.fr

Human Resources

Resistance of the current operating income €40.4 million

In a context of contracting economic activities, the Group demonstrated its ability to resist, through heightened cost control and thanks to the impact of the strategic investments made during the first half of the year.

The favourable elements served to mitigate the effects of competitive pressure, and of a significant unrecovered customer debt.

The current operating income is equal to €40.4 million, versus €48.2 million in 2011.

In view of depreciations and the amortisation of intangible acquisition-related elements, for €3.7 million, of a stable net financial indebtedness cost and of various non-recurring elements, the net profits are equal to €15.1 million (of which Group share of €14.8 million), with a significant increase in H2 2012 (€6 million on 30 June 2012).

With a positive cash position, a high internal financing capacity (€22.7 million in 2012) and shareholders equity of €200 million, the Group has the necessary means to continue with its international development.

2013 prospects

The first two months of the fiscal year are once again confirming the outperformance of SYNERGIE on all of its markets, notably in France, with only a slight 2.9% decline of its turnover (versus -10.5% for the market – source Prisme).

In this context, the Group is pursuing its deployment strategy within dynamic geographical zones and business sectors, most notably internationally, with the objective of generating 50% of its turnover abroad within the next two years.

Dividends: €0.30 per share

During the General Meeting of the Shareholders on 20 June 2013, a proposal will be made to pay a dividend in the same amount as last year, i.e. €0.30 per share.

Next appointment: ►Publication of the 1st quarter 2013 turnover on Thursday 2 May 2013, after the market closing

About SYNERGY

A European specialist in Human Resources Management, the SYNERGIE Group covers all employment-related needs. With a network of 600 agencies in Europe, Canada and Australia, the Group generated a 2012 consolidated turnover of €1,448.8 million, including 43% abroad. The strategy employed by SYNERGIE is based on an active organic and external growth policy that is intended to strengthen its positioning as a key European actor.