Groupe CRIT : Q1 2020 revenue - Faced with the health crisis, an activity in line with announcements

Press release

April, 22nd 2020

Q1 2020 revenue

Faced with the health crisis, an activity in line with announcements

After a start to the year still showing high volumes, activity was strongly impacted as from the implementation of the containment measures taken in the different areas where the group operates.

In this context, Q1 2020 revenue amounted to € 505.8 million (1), down 13.2%. The decline in activity is in line with the outlook presented at the publication of the 2019 annual results.

In France, the group posted Q1 revenue of € 376.2 million, down 14.8%. International activities decreased by 8.1% and -9.9% at constant perimeter and exchange rates.

Staffing & recruitment division revenue (81.6% of total revenue), amounted to € 412.8 million (2) in Q1, down 13.6% compared to Q1 2019.

In France, Q1 revenue amounted to € 302.8 million, down 15.7%. As announced, activity in the last two weeks of March posted significant drops depending on the sector of activity (between - 35% and - 80%), in line with market trends.

International Q1 revenue (26.6% of staffing division) amounted to € 110 million, down 7.3% (-9.2% at constant perimeter and exchange rates). The US and Spanish activities, severely impacted by the health crisis, posted declines of 13.9% (at constant perimeter and exchange rates) and 1.8% respectively over the quarter.

Multi-servicesdivision Q1 revenue amounted to € 97.9 million (2) decreasing by 11.0% compared to Q1 2019. As expected, Airport activities suffer badly of the almost stop of air traffic since mid-March and closure of runways and airport platforms. In this context and despite a good start over the two first months of the year (up 5.2%), Airport activities revenue at € 76.9 million (2) decreased by 10.1% in Q1.

With its mobilizable resources and its sound financial structure, the Group remains confident in its ability to get through this extraordinary crisis.

2019 dividend cancelled

In view of the imperative of prudence imposed by the current context and for the sake of solidarity and preservation of resources, the group's Board of Directors has decided to cancel the payment of the dividend for 2019 that was to be proposed at the General Meeting of June 05, 2020

Detailed analysis of foreign exchange and consolidation scope impacts

	Revenue
	in M€
	Q1 2019		Q1 2020
Staffing & recruitment	477.8		412.7
Multi-services	110.0		98.0
Inter-segment	(5.3)		(4.9)
TOTAL GROUP	582.4		505.8

Change	Organic	Forex	Perimeter
2020/2019	change	Impact (3)	impact(4)
(13.6)%	(14.1)%	0,5%	0.0%
(11.0)%	(11.2)%	0.2%	0.0%
(9.7)%	(9.7)%	0.0%	0.0%
(13.2)%	(13.6)%	0.4%	0.0%

1. Current operating income before depreciation and amortisation
2. Excluding inter-segment eliminations
3. The exchange rate impact is calculated by applying the previous year's exchange rates to current-year revenue denominated in foreign currencies.
4. Changes in consolidation scope are calculated by restating revenues for:
5. • the contribution of entities acquired during the current year and the contribution of entities acquired the previous year until the anniversary date of their acquisition,
   • for entities sold during the current year, the contribution to revenues during the months of the previous year for which the entities are no longer consolidated in the current year and, for entities sold the previous year, the contribution to revenues of the previous year until the date of their sale.

Next release:

Q2 2020 revenue July 22nd 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 (Compartment B FR0000036675) and is included in the CAC All-tradable, CAC Allshares, CAC Mid&Small, Euronext Family Business and Gaïa indices.

	CONTACTS
Groupe Crit		Actifin
Michèle Chartier [e-mail]		Stéphane Ruiz [e-mail]
Tel: [phone]		Relations Presse : [e-mail]
www.groupe-crit.com		Tel: [phone] www.actifin.fr