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Synergie announces 12.8% increase in turnover

• Turnover: 12.8%

• Current operating income (1): 36.4%

• Net earnings: 102%

The SYNERGIE Board of Directors, under the Chairmanship of Mr. Daniel AUGEREAU, met on 10 September 2014 in order to close the interim financial statements to 30 June 2014. The limited review procedures for these financial statements have been completed, and the corresponding report is in the process of being issued.
Half-yearly turnover of &euro793.9 million

With a network of 600 agencies and thanks to a strong international presence in 15 European

countries, in Canada and in Australia, the SYNERGIE Group generated a consolidated turnover of

&euro793.9 million in the 1st half-year, a 12.8% increase relative to the same period in 2013 (11.9%

on a like-for-like basis). The excellent international growth (19.2% over H1), combined with

the growth seen in France (8.1% in the market that only climbed by 1% according to the

Prisme) contributed to this result.

SYNERGIE therefore continues to outperform all of its markets, on the basis of its innovative offers:

OpenCenters, Tertiary and High-tech employment agencies, Global Cross Sourcing (international

secondment of competences), hyper-specialisation in aeronautics with
A clear profitability improvement

Over the course of the half-year, SYNERGIE posted a clear improvement of its operating income,

both in France and internationally, notably thanks to the contribution of the foreign subsidiaries,

for which the share of the consolidated turnover is now 45.3%.

In France, the impact of the completed investments (opening of OpenCenters, strengthening

of the areas of expertise, launch of new agencies), with the support of the effect of the CICE,

helped to partly improve the margins, and to continue with the set-up of additional means for

the training and recruiting of experts.

Internationally, the results of the subsidiaries that saw a difficult economic environment during

the 1st half of 2013 (Iberian Peninsula, Switzerland...), showed a net increase the Group’s other

main actors (Belgium, Italy, Great Britain...) carried out significant investments, just like France,

with the aim of improving the offered services and their added value.

As such, the Group’s current operating is equal to &euro34.7 million and the net earnings are equal

to &euro22.5 million, with the financial result – for its part – being slightly positive over the half-year.

A solid financial structure

The outperformance of its activity allowed SYNERGIE to strengthen its financial structure, with

shareholders equity of &euro240.7 million on 30 June 2014, and net financial indebtedness that

dropped by half relative to the previous year, representing only 4% of the shareholders equity.

The self-financing capacity increased to &euro33.9 million versus &euro17.4 million, thereby providing

the Group with the means needed to continue the deployment of its network of agencies and to

make new acquisitions, both in France and abroad.

Favourable prospects

For the first time, the assigned personnel exceeded the threshold of 50,000 employees on

assignment with the clientele (full-time equivalents) during the summer, with an historic peak

of nearly 55,000 in July.

Building on its performances and financial solidity, the SYNERGIE Group plans to continue its

growth in the second half of the year and is confirming its objective of a 10% increase of its

turnover in 2014.


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