Synergie SE

Earnings Release • Oct 28, 2020

Mr Daniel AUGEREAU Chairman of the Executive Board

Leading French independant Group in HR services

5th European network

17 Countries worldwide

750 Offices

4,000 Permanent employees

TURNOVER:

€1,570 million at 30 September 2020 thanks to international growth

In € million	Q3 2020	Q3 2019	Change	9 months 2020	9 months 2019	Change
International	307.3	348.4	-11.8%	854.0	1,013.0	-15.7%
France	262.7	323.8	-18.9%	716.6	954.5	-24.9%
Total	570.0	672.2	-15.2%	1,570.6	1,967.5	-20.2%

After experiencing a significant impact from the Covid-19 pandemic during the first six months, the recovery seen in mid-May continued throughout the third quarter.

Against this backdrop, SYNERGIE made consolidated turnover of €1,570.6 million, a decrease of 20.2% over nine months (-20.8% on a like-for-like basis).

Thanks to the international expansion strategy in place for several years in the 17 countries in which the Group currently operates, and its diversification in areas such as the environment, renewable energy, agri-food and the medical sector, the slowdown in aeronautical and car manufacturing-related industries has thus been offset. The third quarter also benefited from a pick-up in building and public works.

In the human resources market in France, SYNERGIE made turnover of €684.7 million (-25.8% while the market fell by around 27%), reflecting a steady improvement in activity since the sharp fall in the second half of March, with the lag in September versus 2019 coming out at only 16.2%.

In digital services in which the Group has been present since June 2018 through its subsidiary DCS EASYWARE, turnover reached €46.3 million compared with €33.8 million in 2019, demonstrating the success of its diversification.

The international activity (54.4% of consolidated turnover) held up particularly well, with an excellent quarter (-11.8%) giving rise to 9M turnover of €854 million compared with €1,013 million (-15.7%).

Trends still varied during the quarter depending on the region: -16.1% in northern and eastern Europe and -6.8% in southern Europe where our Italian subsidiary generated turnover of almost €300 million over the first nine months, a decrease of just 9.3%.

Given the gradual improvement in activity recorded during the initial weeks of October, SYNERGIE confirmed its turnover target for 2020 of more than €2 billion, its financial structure and high cash position enabling it to remain confident in its capacity to withstand this health crisis and pursue growth both organically and through acquisitions.

NEXT EVENT

Publication of 2020 full-year turnover on 3 February 2021 after the stock market closes.

ISSUED CAPITAL: 121 810 000 € - EURONEXT PARIS COMPARTIMENT B ISIN FR0000032658 - TRADING SYMBOL: SDG - REUTERS: SDGI.PA - BLOOMBERG: SDG:FP CONTACT : SYNERGIE Finance Department - Yvon Drouet - Tel. +33(0)1 44 14 90 20 - yvon.drouet@synergie.fr