DLSI : Half-year results 2018 (English version)

Press release

Friday, 14 September 2018

Half-year results 2018

Growth in revenue: +11.1% Activity continues to increase

Strong growth in results Group share in net income: +32.3%

DLSI SA's Management Board and Supervisory Board met on13 September and closed the (unaudited) accounts for the first half of 2018:

Thousands of€IFRS

30/06/2018 (6 months)

30/06/2017 (6 months)

Revenue	109 668	+11.1%	98 680
Operating income	5 219	+11.7%	4 672
Operating margin	4,8%	4,7%
Pre-tax income (*)	4 676	+25%	3 741
Tax expense	1 171	+6.3%	1 101
Total net income	3 504	+32.7%	2 640
Net margin	3.2%	+18.5%	2.7%
Group share in net income	3 483	+ 32.3%	2 632
Equity	43 700	37 216
Financial debts (B) (**)	6 591	12 078
Cash (C)	4 159	7 041
Net debt (B-C)	2 432	5 037
Gearing (B-C) / (A)	5.56%	13.5%

(*) The value-added contribution (CVAE), pursuant to the business-tax reform, has been reclassified as an income tax in accordance with IFRS, as well as the Competitiveness and Employment Tax Credit (CICE) deducted from the operating income.

(**) Receivables from the State (CICE) have been deducted from the financial debt.

First half of 2018

Consolidated half-year income was of€109,668k as at 30 June, up 11.1% compared with 30 June 2017. The 52 branches in France contributed73.7%of the sales for the six-month period. Activity is strong in the fields of nuclear energy, construction and industry, as well as in the service sector.

Revenue from the nuclear-energy field was of 6543 k€as at 30 June 2018, compared with€3 958k as at 30 June 2017, up 65.3%.

International sales, in Switzerland, Luxembourg, Germany and Poland, represented26.3%of the consolidated revenue.

Operating income amounted to€5 219k, up 11.7%.

Net income was of€3 504K as at 30 June 2018, compared with the net income of€2 640 Kfrom the first half of 2017. The Group share in the net income amounted to€3 483K, i.e., +32.3% compared with the first half of the previous financial year whereas theCICE(Competitiveness and Employment Tax Credit) dropped from 7% to 6% of total salaries.

A stronger balance sheet:

• Equity reached€43.7M after the payment of a dividend of€0.60 per share (i.e.,€1,524,894) approved by theGeneral Shareholders' Meeting held on22 June 2018. Strengthening the balance sheet by increasing equity opens possibilities for investment, in particular for acquisitions.

• Net debt represented 5.5% of the equity as at 30 June 2018, down compared with 30 June 2017.

Recent events and prospects for 2018

The first and second halves of the financial year show improvement compared with the first and second halves of the prior financial year. Sales in the months of June and July onceagain reached the highest they've been since the Group'screation.

We are confident that we will reach our goal of €230M in revenue.

Our Group remains open to opportunities for external growth that might arise, whether in France or in the rest of Europe.

Next press release: 26 October 2018 after market closes-3rdquarter revenue for 2018

About DLSI:

Created in 1992, the DLSI Group represents a network of over 70 agencies located throughout eastern France, from Dunkirk to Lyon, as well as in Paris, the north-west and the Provence-Alpes Côte d'Azur region. The DLSI Group also has locations in Luxembourg, Germany, Switzerland and Poland.

With a foothold in all industries, we offer all employment solutions, from indefinite-term contracts to fixed-term contracts and temporary employment.

Listed on the Euronext Growth market of Euronext Paris since 2006, the Group generated 215.3 million euros in revenue in 2017.

Follow our news in real time: @DLSI_Officiel

ISIN FR0010404368-Ticker symbol: ALDLS

DLSI contacts:

- Financial: Raymond DOUDOT / Jean Marie NANTERN / Anne Marie ROHR-phone: [phone]

- Communications: Maël LE [e-mail]