Groupe CRIT Reports On the First Half of 2013
Groupe CRIT Reports On the First Half of 2013
Current operating income: 48.1 %
Net income increased by 2.4
improvement in activity in France , growth in International
In the first half of 2013 , Groupe CRIT reported turnover of &euro 725.6 million a decrease
limited to 1.4%. This resilience benefits of a return to growth recorded in the second
quarter. The International, which now accounts for nearly 20% of the Group confirms its
dynamic with a half sales of &euro 139.4 million , up 26.5%.
On temporary employment and recruitment center (83 % of sales for the six months), sales totaled
to &euro 599.6 million * a limited decline of 1.8%. This resilience is supported by the international activity,
up 28.1 % to &euro 119.5 million . The United States confirmed its dynamic with a turnover of
$ 100.8 million, up 50.1 % ( 19.8 % at constant scope and exchange rates).
France ( &euro 480.1 million in the first half ) , lower turnover is limited to 7.2 % in a market
down 11 % (Source: Prism'emploi ) .
The second quarter saw a positive change in activity : after a first quarter decline
10.4% decline was 4.3 % over the period .
The multi- center, sales amounted to &euro 135.9 million against &euro 134.5 million * in the first
half of 2012. Airport operation , which account for nearly 75% of the turnover of the pole,
rose nearly 2 % to &euro 99.3 million . As temporary work, the Group generated
great semester at the International with a turnover of almost &euro 20 million, up 17.5 %.
Strong earnings growth and appreciation of margins
Current operating income amounted to &euro 26.2 million, up 48.1%. It incorporates the impact of credit
Tax competitiveness and employment ( CICE ) .
On recruitment and temporary employment division , operating profit amounted to &euro 24.6 million in
increase of 56.6 %. With this increase , the operating margin was 4.1%
sales against 2.6 % in the first half of 2012. At the International operating income
current is multiplied by almost three to &euro 6.6 million. In France , operating profit up
35.4% to &euro 18.1 million against &euro 13.3 million in H1 2012.
Press Release September 10, 2013
The multi- pole contributes positively over the period with an operating profit
current &euro 1.6 million.
Thanks to this good performance, operating income increased 46.6 % to &euro 25.2 million and
net result is multiplied by 2.4 to &euro 16.4 million .
A strong financial position
With at the end of June 2013, &euro 218 million in equity and cash flow of &euro 23.1 million , the
Group relies on a strong financial position . Net financial debt amounted to less than
24% of equity.
Signs of improvement in France , further internationalization
Temporary : trust in France , a new acquisition in the United States
In France, the significant improvement seen in recent months and the good performance of the activity relative to the market can address the second half with confidence . At the International,
deployment in the U.S. market will continue. The acquisition of the business of the company
The Agency Staffing ( 7 branches , $ sales expected in 2013 40 million) made ??in late July, will enable the Group to expand its geographical coverage and strengthen its dynamics growth in this market. With this fifth acquisition, the $ 250 million in revenue the United States is in sight for 2014. With this success in the global labor market first temporary , the Group will remain attentive to new acquisition opportunities .
Airport : further internationalization
International remains at the heart of development of airport activities .
In the UK, activity on the London City Airport will benefit from the extension of the customer portfolio
several new majors . On African concessions, all indicators are
green in terms of growth and profitability. In light of these factor , the Group
confirms its 2013 growth target of more than 15% of its airport operations
international. In addition, the group decided to develop its real estate assets through the construction
an office building on the historic location of the headquarters , owned by the Group . this
13,600 m2 building will benefit from a privileged position along the Paris ring road and
the gates of the 17th arrondissement. This project valued at approximately &euro 50 million budget will be funded Lease . The assembly operation is being finalized for considering a start work in late 2013 for delivery in 2016 . Given its location and market price , the transaction is expected to create a quality asset for the Group and its shareholders.