Groupe CRIT : Q2 2021 sales - Confirmed acceleration in temporary work

Press Release

July 21st, 2021

Q2 2021 sales

Confirmed acceleration in temporary work

	In M€ (1)	2021	2020		Change			Constant perimeter
				& forex
1st Quarter	437.4	505.8	-13.50%		-12.50%
2nd Quarter	506.7	308.3	64.30%		65.90%
	Total	944.1	814.1		16.00%			17.20%

As expected due to the base effect generated by the first COVID lockdown in 2020, temporary work activity improved very significantly in the second quarter with a growth of 63.4% (at constant perimeter and exchange rates). In the multi-service division, the increase was 89.4% (at constant perimeter and exchange rates).

In this context, revenue for the second quarter of 2021 stood at €506.7 million (1) up 65.9% at constant perimeter and exchange rates after a first quarter down by 12.5% (at constant perimeter and exchange rates). In France, the continuous improvement in the activity is confirmed with a quarterly turnover of €391.8 million, growing by 76.2%. International activities grew by 39.2% at constant perimeter and exchange rates.

Temporary work: + 63.4% over the second quarter

In temporary work (which concentrates 89.6% of total activity), revenue for the second quarter was €454 million

(2), up 63.4% compared to the same period of 2020 at constant perimeter and exchange rates.

France: + 76.1 %

In France, revenue for the quarter reached €350.4 million, growing by 76.1% driven in particular by demand in logistics and trade. This strong increase is an excellent performance in a context where many sectors have remained penalized by anti Covid measures (air sector, hotel and restaurant industry, etc.). Their expected recovery should nevertheless support growth in the coming quarters.

International: + 32.5%

Internationally (22.8% of the division's activity), second quarter revenue reached €103.6 million, growing by 32.5% at constant perimeter and exchange rates. American activities have restarted but were significantly penalized by supply chain disruptions (particularly in the automotive industry) and recruitment difficulties while Iberian activities confirm their excellent recovery.

Multi-service: + 89.4%

The Multiservice Division achieved quarterly revenue of €56.4 million (2), growing by 89.4% compared to the second quarter of 2020.

As expected, over the quarter airport activities showed improvement but remain significantly affected by the restrictions and the decrease in air traffic, the division's turnover amounted to €37.3 million in the second quarter compared to €17.5 million in 2020.

In this context, the group is proud of its success in the process of renewing its airport assistance licenses at the Roissy-CdG and Orly terminals. In fact, they have all been renewed for four and seven years respectively, offering a solid visibility on future business prospects.

With an economic dynamic confirmed month after month, the group reaffirms its confidence in its ability to benefit fully from the recovery, based on its strong in its fundamentals and solid financial situation.

Detailed analysis of foreign exchange and perimeter impacts
	in M€		Revenue		Change		Organic		Currency		Perimeter
			2021/2020		change		Impact (3)		Impact (4)
				2021
			2020
	Staffing & recruitment		693.6	842.5		21.5%		22.9%		(1.4%)		0.0%
	Multi-services		127.6	108.4		(15.1%)		(14.9%)		(0.1%)		0.0%
	Inter-segment		(7.1)	(6.8)		(4.1%)		(4.1%)		0.0%		0.0%
	TOTAL GROUP		814.1	944.1		16.0%		17.2%		(1.2%)		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.
4. Changes in consolidation perimeter computed by restating revenue 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 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.

Groupe CRIT is a French leading company in staffing and airport assistance, in the global top 20. 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.

Next release

Q2 2021 revenue July 21st after market closing

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