2020 : Highly significant results in a crisis context
31 März 2021 - 6:35PM
2020 : Highly significant results in a crisis context
Paris, 31 March 2021, 5:45PM
2020: HIGHLY SIGNIFICANT RESULTSIN A
CRISIS CONTEXT
Turnover:
€2,190.3
million EBITDA:
€112.7
million
Current operating profit:
€89.5
million Net
profit:
€41.3
million
The Executive Board of SYNERGIE, chaired by
Daniel AUGEREAU, met on 29 March 2021 and approved the financial
statements for the year ended 31 December 2020. The auditing
procedures for these financial statements are complete and the
corresponding report is being issued.
|
Consolidated - in € million |
2020 |
2019 |
H2 2020 |
H1 2020 |
| Turnover |
2,190.3 |
2,642.3 |
1,189.7 |
1,000.6 |
| EBITDA |
112.7 |
138.5 |
72.8 |
39.9 |
| Current operating profit (*) |
89.5 |
121.7 |
59.5 |
30.0 |
| Operating profit |
77.6 |
114.0 |
53.1 |
24.5 |
| Financial result |
(3.2) |
(1.4) |
(1.3) |
(1.9) |
| Profit before tax |
74.4 |
112.6 |
51.8 |
22.6 |
| Tax expense |
(33.2) |
(49.3) |
(20.5) |
(12.6) |
| Net profit |
41.3 |
63.4 |
31.3 |
10.0 |
| of
which Group share |
38.3 |
60.1 |
29.4 |
8.9 |
(*) before amortisation and impairment of intangible assets
Turnover of €2,190 million
SYNERGIE, Europe’s fifth largest human resources
management company, posted turnover of €2,190 million in 2020 (down
17.1% on a like-for-like basis).
After a start to the year heavily impacted by
the Covid-19 pandemic, the recovery gathered pace month by month,
with a marked improvement in France in the second part of the year
(€984.5 million).
The international subsidiaries performed
particularly well, posting turnover of €1,206 million and now
accounting for 55% of consolidated turnover.
This performance, against the backdrop of the
health crisis’ particularly strong impact on temporary employment
companies, was made possible through the teams’ commitment and
responsiveness and the diversification of SYNERGIE’s activities
into the environmental, renewable energy, digital, medical,
logistics and agrifood sectors to offset the sharp slowdown in
carmaking (-41% year-on-year) and aeronautics (-53%), where the
Group has leading positions.
EBITDA and current operating profit
Our strong resilience and our significant
activity in high value-added sectors, combined with the cost
reductions put in place with the onset of the pandemic, thus
enabled us to generate a robust EBITDA of €112.7 million, or 5.1%
of turnover.
Current operating profit was equally high at
€89.5 million (€46.6 million internationally and €42.9 million in
France), confirming the relevance of the Group’s choices and
investments in recent years in digital transformation, recruitment
of consultants and training of permanent and temporary staff.
Operating profit
Operating profit came to €77.6 million before
amortisation and impairment of goodwill and other intangible assets
of €11.9 million, of which €5.7 million non-recurring.
Financial result
The financial expense of €3.2 million comprised
a net cost of financial debt of the same order as in 2019 and a
€0.9 million foreign exchange loss.
Net profit
After tax of €33.2 million (of which €13 million
in CVAE, the value-added contribution for businesses), consolidated
net profit came to €41.3 million (of which Group share €38.3
million), compared with €63.4 million in 2019. The leverage
generated by the reduction of overheads and the 20% increase in
turnover between the first and second halves of the year enabled
the Group to post a full-year net profit four times higher than
that for the first half.
A strengthened financial structure
The Group thus strengthened its financial
structure, with shareholders’ equity of €583.5 million at 31
December 2020, a positive change in working capital requirement for
the year of around €50 million, for the second year running, and a
cash position net of any debt of €200 million (including available
CICE receivables of €87.3 million).
Outlook for 2021
More than ever and as borne out in the first two
months of 2021, SYNERGIE continues to take advantage of companies’
flexibility and agility.
The Group thus affirms its confidence in the
future and, thanks to its extremely solid financial structure,
continues to explore new acquisitions to boost its growth, with the
aim in 2021 of generating turnover in excess of €2.5 billion and
significantly increasing its profitability.
Dividends
A dividend of €0.80 will be proposed at the
Shareholders’ Meeting of 24 June 2021, representing a total
distribution of €19.5 million.
Next event:
►Publication of turnover for the first quarter
of 2021 on Wednesday 28 April after the stock market closes.
- COMFI-Communique-Mars2021-UK
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