A dynamic second quarter: +17.4% - Sustained growth in Temporary work - Acceleration in Airport services

Press release

July 20th, 2022

A dynamic second quarter: +17.4%

Sustained growth in Temporary work

Acceleration in Airport services

	Revenue (M€) (1)	2022	2021		Variation		Constant scope and
			exchange rates
	1st quarter	523.6	437.4	19.7%	18.5%
	2nd quarter	595.0	506.7	17.4%	15.8%
	Total	1 118.6	944.1		18.5%		17.0%

Revenue for the second quarter of 2022 amounted to €595.0 million (1) up 17.4% compared to the same period in 2021. At constant scope and exchange rates, growth was up 15.8%. In France, the continuous improvement of the activity is confirmed with a quarterly turnover of € 457.6 million, up 16.8%. International activities (23.1% of total activity) also contributed to this solid performance with revenue growing by 19.7%.

During the semester, revenue increased by 18.5% to € 1 118.6 million, driven by all the Group's activities and all geographical areas.

Temporary work: +8.0%

In Temporary work (82.4% of total activity), second-quarter revenue was € 490.2 million (2), up 8.0% (+6.2% at constant scope and exchange rates). This increase confirms the improvement in activity over the quarters in an environment that remains impacted by the shortage of talent and the current geopolitical tensions on the economic context.

France: +6.8%

In France (76.3% of the division's activity), revenue for the quarter reached € 374.2 million, up 6.8% compared to the same period in 2021. Despite the contrasted market environment, the activity continued to benefit from demand of logistics, trade and agri-food sectors. The strong revival of activities impacted by the pandemic (hotels, restaurants, events, etc.) and the good orientation of the industrial sector also contribute to this growth dynamic.

International: +11.9%

Internationally (23.7% of the division's activity), revenue for the quarter was € 116 million, up 11.9% (+4.4% at constant scope and exchange rates). The United States posted an increase of 17.5% (+3.6% at constant scope and exchange rates). Despite a decline in demand in agriculture, Iberian activity remained at a high level, slightly down compared to the second quarter of 2021 (-1.3% adjusted for working days) but still 13.7% higher than 2019.

Multiservices: +99.2%

The Multiservices Division posted quarterly revenue of €112.5 million (2) up 99.2% (+98.5% at constant scope and exchange rates) compared to the second quarter of 2021. This growth is essentially the result of a gradual return of airport services to normal activity.

Airport services (76.8% of the division's total turnover) confirmed their improvement driven by the recovery of transatlantic traffic. Thus, revenue for the quarter amounted to €86.4 million compared to €37.4 million in 2021, up 129.9% at constant scope and exchange rates.

In this context, the Group remains confident about its short-term business prospects while being vigilant about the evolution of the geopolitical, macroeconomic and health contexts.

Detailed annex of exchange rate and scope impacts
		in M€ (1)		Revenue		Change		Organic		Impact			Scope
				2022/2021		change		impact (3)			impact (4)
				H1 2022
				H1 2021
		Staffing and recruitment		929,3	842,5		10,3%		8,8%		1,5%			0,0%
		Multi-services		202,7	108,5		86,8%		85,9%		0,9%			0,0%
		Inter-segment		(13,4)	(6,8)		95,6%		95,6%		0,0%			0,0%
		TOTAL GROUP		1 118,6	944,1		18,5%		17,0%		1,5%			0,0%

1. Unaudited data
2. Excluding inter-segment eliminations

(3)The exchange rate impact is computed by applying the previous year's exchange rates to current-year revenue denominated in foreign currencies.

1. Changes in consolidation scope computed by restating revenue for:
2. • 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.
   • entities sold during the current year, the contribution to revenue 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 revenue of the previous year until the date of their sale.

Next release:

H1 2022 results: September 13, 2022 after closing of the stock exchange

Groupe CRIT is a French leading company in staffing and airport assistance. in France and Internationaly. 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.

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