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Turnover up almost 10% in 2018 for SYNERGIE

SYNERGIE posted turnover of €2,551.1m in 2016, up 9.8% from 2017 (+5.8% on a like-for-like basis). With operations in 17 countries (Europe, Canada and Australia), international turnover increased significantly by 14.6% to €1,343.3m (52.7% of the consolidated total). SYNERGIE recorded excellent performances in countries where it has a particularly large presence, such as those of Southern Europe (+14.3%) and Austria (+20.7%). In France, turnover increased to €1,207.8m, growing by 5.0% (+2.8% on a like-for-like basis).

All of the Group's profitability indicators improved in a relatively tight market in the second half of the year. Consolidated EBITDA came to €137.2m compared with €135.1m in 2017, while current operating profit represented 5% of turnover. It should be noted that the favourable effect of the increase in activity was slightly dampened, particularly in France with the reduction of the CICE rate from 7% to 6% (-€8.6m), but also in other countries (Belgium, Germany, the Netherlands, etc.) where new legislative or regulatory measures were put in place.

In France, SYNERGIE posted EBITDA of €83.6m. The investments made over the past two years with the recruitment of consultants, the digitisation and development of IT tools and the training of temporary workers - which saw further expansion - continued, improving the service that the Group provides to clients in France and abroad. Now fully consolidated, digital services company DCS Easyware has performed very strongly since joining the Group in June 2018. International EBITDA also increased, coming to €53.5m. In the United Kingdom, the Group recognised €3.4m of impairment on goodwill and other intangible items relating to the consequences of Brexit. Taking into account a limited financial cost of €1.7m and a tax expense of €35.1m, net profit came to €82.5m compared with €81.5m in 2017.

With more than €501.8m of shareholders' equity and a positive €125.6m cash position net of all debt and including available CICE competitiveness and employment tax credits, SYNERGIE has all the resources it needs to pursue its growth and carry out further acquisitions in France and abroad. The Group continues to study external growth opportunities with a view to rolling out operations in particular in the Nordic countries and Eastern Europe, having completed the acquisition of Australian company Entire Recruitment at the start of 2019.

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