Groupe CRIT : Q1 2019 revenue - A good start for 2019 - Solid growth both in France and abroad

Press release

April 24th 2019

Q1 2019 revenue

A good start for 2019

Solid growth both in France and abroad

In Q1 2019, the CRIT Group posted a € 582.4 million (1) revenue up 3.2%. This growth, achieved in a more demanding environment, is a solid performance after a first quarter 2018 up almost 5%.

In France (75.8% of total activity), the group confirmed its momentum with a revenue up 2.2% to € 441.5 million (up 3.4% in organic growth and working days adjusted). Q1 international revenue amounted to € 140.9 million, up 6.3% (up 2.1% at constant perimeter, exchange rates and working days).

Staffing & Recruitment division: up 1.6%

In Q1, Staffing & Recruitment division (82% of the group's business) posted revenue of € 477.8 million (2), up 1.6%.

France: up 1.5% in organic growth corrected for working days

Q1 French staffing activities revenue (75.2% of the division's total) remained stable at € 359.1 million. Adjusted for working days, revenue grew by 1.5%. This growth constitutes a solid performance compared to an organic growth up 8.2% in Q1 2018. The group thus confirms its good level of activity at the beginning of the year in a market growing by 1% (YTD as of February).

International : up 6.8%

International Q1 revenue (24.8% of the division's business) amounted to € 118.6 million, up 6.8%, benefiting from favorable forex impacts. At constant perimeter and exchange rates, international activities were solid up 1.9% in Q1, with US operations confirming their return to organic growth rising by 9.2% (up 1.6% on a like-for-like basis and constant exchange rate).

Multi- services division: +11.6%

Multi-services division achieved an excellent start to the year, exceeding for the first time the threshold of 100 million euros in revenue in the quarter. Revenue amounted to € 110.0 million (2), rising by 11.6% (up 10.8% at constant perimeter and exchange rate).

Airport services Q1 revenue (77.7% of multi-services division) increased by 12,8% to €85.5 million driven by the French activities rising by 16.4% (up 12.9% in organic growth).

This evolution benefits from the expansion of its general aviation activities at Paris-Le Bourget airport and new contracts signed in cargo.

International operations also posted a good growth in Q1 up 3.9% (up 2.7% at constant perimeter and exchange rate).

In view with this first quarter, the group is confident in its ability to consolidate its positions both in France and abroad.

Detailed analysis of foreign exchange and scope impacts

	Revenue
	in €M
	Q1 2019		Q1 2018
Staffing & recruitment	477.8		470.3
Multi-services	110.0		98.6
Inter-segment eliminations	(5.3)		(4.3)
TOTAL GROUP	582.4		564.6

Change	Organic	Currency	Perimeter
2019/2018	Growth	Impact (3)	Impact (4)
1.6%	0.4%	1.2%	0.0%
11.6%	10.8%	0.3%	0.5%
24.6%	25.5%		(0.9)%
3.2%	2.0%	1.0%	0.1%

(1)unaudited data

(2)excluding inter-segment eliminations

(3)Foreign exchange impacts calculated by applying to the year's foreign exchange revenue, the exchange rate of the prior year.

(4)The scope impacts are calculated by restating the revenue:

-on the one hand, from the contribution of the entities acquired during the year and of the entities acquired during the previous year until the anniversary date of the acquisition,

-on the other hand, for the entities sold in the year, from the revenue contribution of the previous year for which the entities are no longer consolidated in N and for the entities sold in N-1, from the revenue contribution of the previous financial year up to the date of transfer.

Next release:

Q2 2019 revenue: July, 24th 2019 after closing of the stock exchange

Groupe CRIT is a leading company in staffing and airport assistance in France and abroad. The Group is listed on Euronext Paris (segment B FR0000036675) and the CAC All-tradable, CAC All-shares, CAC Mid&Small, Euronext Family Business et Gaïa Indexes

CONTACTS

Groupe Crit

Michèle Chartier [e-mail] Tel : + 33 1.49.18.55.08 www.groupe-crit.com

Actifin Stéphane Ruiz [e-mail] Relations Presse : [e-mail] Tel : [phone] www.actifin.fr