Synergie SE

Earnings Release • Sep 25, 2024

Mr Victorien VANEY

IN CHALLENGING MARKET CONDITIONS, SYNERGIE CONTINUES TO GROW WHILE PRESERVING ITS FINANCIAL ROBUSTNESS On September 25th, 2024, the SYNERGIE Board of Directors, chaired by Mr Victorien Vaney, approved the consolidated half-year financial statements for the period ended 30 June 2024. The auditing procedures for these financial statements are complete and the corresponding Leader in Europe in HR services

Leader in Europe in HR services	IN CHALLENGING MARKET CONDITIONS, SYNERGIE CONTINUES TO GROW WHILE PRESERVING ITS FINANCIAL ROBUSTNESS
17 Countries worldwide 800	Revenue: €1,555.4 million EBITDA: €63.3 million Net profit: €31.7 million On September 25th, 2024, the SYNERGIE Board of Directors, chaired by Mr Victorien Vaney, approved the consolidated half-year financial statements for the period ended 30 June 2024. The auditing procedures for these financial statements are complete and the corresponding reports are being issued.
Branches 5,600 Permanent employees
	Consolidated - in € million	H1 2024	H1 2023	Change %
	Revenue	1,555.4	1,511.0	+2.9%
	EBITDA	63.3	75.8	-16.5%
	EBITA*	50.4	63.7	-20.8%
	Operating profit	46.2	61.4	-24.6%
	Net profit	31.7	41.2	-23.1%
	Net profit Group share	29.4	38.9	-24.5%
	* Recurring EBIT before amortisation and impairment of intangible assets
	REVENUE OF €1,555.4 MILLION
	SYNERGIE, a European leader in the Human Resources sector, generated revenues of €1,555.4 million, up +2.9% (+1.6% on a like-for-like basis), amid a market downturn in the Group's main countries. This performance was possible thanks to the contribution of all geographic areas where the Group operates. Synergie outperformed a declining market validating the Group's business strategy of a diversified portfolio of clients, sectors, and geographies.
	In France, the first half of the year was marked by a decline in growth (-2.6%), driven by a decrease in staffing market volumes with a significant downturn in the last two months due to the climate of political and economic uncertainty.
	International reached 59% of total revenues (versus 57% in 2023), with Southern Europe achieving revenues of €531.8 million. International growth of +7.1% was driven by organic growth (excluding exchange rates impact) of +4.8% and the impact of the acquisition of the

International reached 59% of total revenues (versus 57% in 2023), with Southern Europe achieving revenues of €531.8 million. International growth of +7.1% was driven by organic growth (excluding exchange rates impact) of +4.8% and the impact of the acquisition of the RUNTIME Group in Germany (completed in May 2023), which generated €16 million during the period. The performance of Northern and Eastern Europe (+9.8%) remained strong despite the economic slowdown also felt in these countries. CAPITAL SOCIAL : 121 810 000 € - EURONEXT PARIS COMPARTIMENT B - ISIN FR0000032658 - TRADING SYMBOL: SDG - REUTERS: SDGI.PA - BLOOMBERG: SDG:FP CONTACT: SYNERGIE Finance Department - Yannick OUVRARD - Tel. +33(0)1 44 14 90 25 - yannick.ouvrard@synergie.com

Leader

17

800 Branches 5,600 employees

EBITDA AND CURRENT OPERATING PROFIT (EBITA) In the first half of 2024, SYNERGIE achieved an EBITDA of €63.3 million (4.1% of revenue), versus €75.8 million in H1 2023. This decline in EBITDA is attributed to the economic slowdown, the effects of regulatory changes in some countries and the Group's continued investment efforts to support its growth and digitalization. The Current Operating Profit (EBITA) reached €50.4 million (3.2% of revenue) with a €22.1 million (43.9% of Current Operating Profit) contribution from International business, while France contributed €28.3 million (56.1% of Current Operating Profit). OPERATING PROFIT Operating profit came to €46.2 million, in line with the trend of Current Operating Profit. After Tax expenses of €18.7 million and a Financial Result of €4.1 million, the consolidated Net Profit amounted to €31.7 million (of which the Group's share is €29.4 million). With shareholders' equity of €690.3 million as of June 30 and cash position net of debt of in Europe in HR services

NET PROFIT €313.0 million, the Group reinforces its financial strength. Countries worldwide

Permanent

A STRENGTHENED FINANCIAL STRUCTURE

OUTLOOK FOR H2

Despite the economic challenges faced in certain markets during the first half of 2024, with the contraction of the staffing market in France and other European countries, SYNERGIE remains confident, thanks to its continued diversification and international expansion strategy, in its ability to achieve higher revenues in the second half of the year, but in this context remains very cautious about its capacity to improve operational profitability. SYNERGIE financial structure remains strong, and the company intends to pursue new acquisitions, both in France and abroad.

NEXT EVENT Communication of Revenues for the 3rd quarter of 2024 on Wednesday October 23rd, 2024, after the stock market closing. CAPITAL SOCIAL : 121 810 000 € - EURONEXT PARIS COMPARTIMENT B - ISIN FR0000032658 - TRADING SYMBOL: SDG - REUTERS: SDGI.PA - BLOOMBERG: SDG:FP CONTACT: SYNERGIE Finance Department - Yannick OUVRARD - Tel. +33(0)1 44 14 90 25 - yannick.ouvrard@synergie.com