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Synergie SE — Earnings Release 2015
Sep 9, 2015
1690_iss_2015-09-09_2960fd0d-970f-45fe-ab4b-95b0358413fe.pdf
Earnings Release
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Mr Daniel AUGEREAU Chairman and CEO
LEADING FRENCH INDEPENDANT GROUP IN HR SERVICES
5th EUROPEAN NETWORK
15 COUNTRIES WORLDWIDE
600 OFFICES
2,415 PERMANENT EMPLOYEES
100,000 CUSTOMER COMPANIES
STRONG INCREASE IN RESULTS FOR SIX MONTHS TO 30 JUNE 2015
• TURNOVER: +8.2%
- CURRENT OPERATING PROFIT: +14.3%
- NET PROFIT: +18.1%
The Board of Directors of SYNERGIE, chaired by Daniel Augereau, met on 9 September 2015 and approved the financial statements for the six months ended 30 June 2015. The limited audit procedures for these financial statements are complete and the related report is being issued.
| Audited consolidated data - in €M | H1 2015 | H1 2014 * | Change |
|---|---|---|---|
| Turnover | 859.0 | 793.9 | +8.2% |
| Current operating profit | 38.9 | 34.0 | +14.3% |
| Operating profit | 37.7 | 32.7 | +15.5% |
| Profit before tax | 39.1 | 32.7 | +19.5% |
| Net profit | 26.1 | 22.1 | +18.1% |
| Net profit, Group share | 25.8 | 21.9 | +17.7% |
* After application of IFRIC 21
€859 million in turnover for the half-year
With a 600-strong branch network and extensive international operations spanning 15 countries in Europe as well as Canada and Australia, the SYNERGIE Group generated consolidated turnover of €859 million in the six months to 30 June 2015, up 8.2% from the same period in 2014 at constant scope. Its excellent international growth (up 15.4% over the half-year) combined with the increase recorded in France (up 2.2%) contributed to this result.
SYNERGIE thus continues to outperform all of its markets by relying on innovative offers: OpenCenters, service sector and high-tech employment agencies, Global Cross Sourcing (international skills assignment) and, with Synergie.aero, aeronautical hyperspecialisation.
A marked improvement in profitability
SYNERGIE posted a significant increase in operating profit over the first six months of 2015 both in France and abroad, with international business accounting for 48.4% of consolidated turnover.
In France, the impact of investments (launch of the new service offer, strengthening of expertise, development of IT tools), bolstered by the effect of the French competitiveness and employment tax credit (CICE), gave margins a considerable boost.
Internationally, subsidiaries that in previous years have made significant investments to improve their service offers and value added mainly helped optimise this result. The performances of Belgium and Italy were also up strongly.
CONTACT: SYNERGIE Finance Department - Yvon Drouet - Tel: +33(0)1 44 14 90 20 - [email protected] www.synergie.com ISSUED CAPITAL: 121 810 000 € - EURONEXT PARIS COMPARTMENT B - ISIN FR0000032658 - TRADING SYMBOL: SDG - REUTERS: SDGI.PA - BLOOMBERG: SDG:FP
The Group's current operating profit came to €38.9 million, with an operating margin up by 4.5% overall (compared with 4.3% in 2014).
Net profit came to €26.1 million, while the financial result was positive overall over the six months, at €1.4 million.
A solid financial structure
SYNERGIE'S excellent business performance enabled it to strengthen its financial structure, with shareholders' equity of €289.7 million at 30 June 2015 and a cash position net of any debt of €50.7 million (including the 2014 CICE).
The cash flow from operations thus provides the Group with the necessary resources to continue to expand its branch network and carry out new acquisitions both in France and abroad, where negotiations are under way in the United Kingdom and Germany.
Favourable outlook
The number of assigned personnel - i.e. full-time-equivalent employees working for customers - has exceeded 50,000 every day since May, with a record high of 56,000 reached in July.
Thanks to these performances and its financial solidity, SYNERGIE Group intends to expand further over the second six months of the year and confirms its objective of achieving turnover growth of nearly 10% in 2015 by improving its profitability.
UPCOMING EVENT
Publication of turnover for the third quarter of 2015 on Wednesday 21 October 2015 after the stock market closes.
CONTACT: SYNERGIE Finance Department - Yvon Drouet - Tel: +33(0)1 44 14 90 20 - [email protected] www.synergie.com ISSUED CAPITAL: 121 810 000 € - EURONEXT PARIS COMPARTMENT B - ISIN FR0000032658 - TRADING SYMBOL: SDG - REUTERS: SDGI.PA - BLOOMBERG: SDG:FP