Synergie SE

Earnings Release • Jul 24, 2024

Leader in Europe in HR services

17 Countries worldwide

800 Branches

5,600 Permanent employees

Mr Victorien VANEY Chairman and Chief Executive Officer

2024 HALF-YEAR REVENUES:

In a challenging economic climate, SYNERGIE Group achieves revenues of €1,554.8 million for the first half of 2024, up +2.9%.

in € m	Q2 2024	Q2 2023	Change	H1 2024	H1 2023	Change
International	471.6	446.6	+5.6%	919.5	859.1	+7.0%
France	331.8	339.9	-2.4%	635.2	652.1	-2.6%
Total	803.4	786.5	+2.1%	1,554.8	1,511.3	+2.9%

In a challenging economic climate, SYNERGIE shows the relevance of its strategy and in particular of its geographical diversification, with half-year revenues of €1,554.8 million, up +2.9% vs. 2023 (+1.6% on a like-for-like basis). International business accounted for 59.1% of total revenues over the period, compared with 56.8% in 2023.

In France, revenues reached €635.2 million (40.9% of total revenues), marked by a decline of -2.6% in revenues due to the staffing market volume decrease in the first half of the year, with a significant slowdown in the last 2 months in a context of uncertainty in France, despite the fact that SYNERGIE outperformed the market during the first six months of 2024.

International revenues increased by +7.0% driven by organic growth (excluding exchange rates impact) of +4.8% and the perimeter impact of the acquisition of the RUNTIME Group in Germany (May 2023), which generated €16.2 million over the period. The performance of Northern and Eastern Europe (+9.6%) remained strong despite the economic slowdown also felt in these countries. Southern Europe continued to grow, with a good performance (+6.4%) thanks to the commercial drive of our Italian and Spanish businesses.

Despite the challenging economic climate in its main markets and some unfavorable regulatory impacts in certain countries, SYNERGIE continues to invest in the Group's future with an effect on the operating profitability to be expected in the first half of 2024 compared to 2023.

The SYNERGIE Group remains confident in its ability to continue growing its revenues during the next semester but is cautious on its capacity to improve its operating profitability in the second half of the year.

NEXT MEETINGS • Publication of H1 results on Wednesday September 25th, 2024, after market closing